Common use of Benefits Received Upon Termination Clause in Contracts

Benefits Received Upon Termination. (a) If Executive’s employment is terminated by the Company for Cause, or if this Agreement is terminated by Executive for any reason under circumstances not constituting Good Reason, then the Company shall pay Executive Executive’s Base Salary through the effective date of such termination plus credit for any vacation earned but not taken. Thereafter, the Company shall have no further obligations to Executive under this Agreement; provided, however, that the Company will continue to honor any obligations that may have vested or been accrued and not forfeited on termination pursuant to and under the existing Company Benefit Plans or any other agreements or arrangements applicable to Executive.

Appears in 8 contracts

Samples: Employment Agreement (Dpac Technologies Corp), Employment Agreement (Dpac Technologies Corp), Employment Agreement (Dpac Technologies Corp)

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Benefits Received Upon Termination. (a) If the Executive’s employment is terminated as a result of Executive’s death or Disability, by the Company for Cause, or if this Agreement is terminated by Executive for any reason under circumstances not constituting without Good Reason, then the Company shall pay the Executive Executive’s his Base Salary through the effective date of such termination plus credit for any vacation earned but not taken. Thereafter, taken and the Company shall thereafter have no further obligations to Executive under this Agreement; provided, however, that the Company will continue to honor any obligations that may have vested or been accrued and not forfeited on termination pursuant to and under the existing Company Benefit Plans or any other agreements Agreements or arrangements applicable to the Executive.

Appears in 7 contracts

Samples: Michael P. Moore Employment Agreement (Miscor Group, Ltd.), A. Tamborski Employment Agreement (Miscor Group, Ltd.), Employment Agreement (Miscor Group, Ltd.)

Benefits Received Upon Termination. (a) If the Executive’s 's employment is terminated by the Company for Cause, or if this Agreement is terminated by Executive for any reason under circumstances not constituting Good ReasonExecutive, then the Company shall pay the Executive Executive’s his Base Salary through the effective date of such termination plus credit for any vacation earned but not taken. Thereafter, taken and the Company shall thereafter have no further obligations to Executive under this Agreement; provided, however, that the Company will continue to honor any obligations that may have vested or been accrued and not forfeited on termination pursuant to and under the existing Company Benefit Plans or any other agreements Agreements or arrangements applicable to the Executive.

Appears in 1 contract

Samples: Employment Agreement (New Century Financial Corp)

Benefits Received Upon Termination. (a) If the Executive’s 's employment is terminated by the Company for Cause, or if this Agreement is terminated by Executive for any reason under circumstances not constituting without Good Reason, then the Company shall pay the Executive Executive’s his Base Salary through the effective date of such termination plus credit for any vacation earned but not taken. Thereafter, taken and the Company shall thereafter have no further obligations to Executive under this Agreement; provided, however, that the Company will continue to honor any obligations that may have vested or been accrued and not forfeited on termination pursuant to and under the existing Company Benefit Plans or any other agreements Agreements or arrangements applicable to the Executive.

Appears in 1 contract

Samples: Employment Agreement (New Century Financial Corp)

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Benefits Received Upon Termination. (a) If the Executive’s 's employment is terminated by the Company for Cause, or if this Agreement is terminated by Executive for any reason under circumstances not constituting Good ReasonExecutive, then the Company shall pay the Executive Executive’s his Base Salary through the effective date of such termination plus credit for any vacation earned but not taken. Thereafter, taken and the Company shall thereafter have no further obligations to Executive under this Agreement; provided, however, that the Company will continue to honor any obligations that may have vested or been accrued and not forfeited on termination pursuant to and under the existing Company Benefit Plans or any other agreements or arrangements applicable to Executive.

Appears in 1 contract

Samples: Employment Agreement (New Century Financial Corp)

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