By Employee. At any time after the commencement of employment, Employee may, without "good reason" (as defined below), terminate this Agreement and Employee's employment without good reason, effective thirty (30) days after written notice is provided to the Company. If Employee resigns or otherwise terminates Employee's employment without good reason, Employee shall receive no severance compensation. If Employee's resignation or other termination by Employee is for good reason (defined as the Company's failure to pay Employee on a timely basis the amounts to which he or she is entitled under this Agreement or as a result of any other material breach of this Agreement by the Company, as determined by a court of competent jurisdiction or pursuant to the provisions of paragraph 16 below), the Company shall pay all amounts and damages to which Employee may be entitled as a result of such breach, including interest thereon and all reasonable legal fees and expenses and other costs incurred by Employee to enforce Employee's rights hereunder in addition to any severance compensation to which Employee may be entitled to hereunder, as calculated pursuant to Section 5(d) hereof. Further, none of the provisions of paragraph 3 hereof shall apply in the event this Agreement is terminated as a result of such a breach by the Company.
Appears in 7 contracts
Samples: Employment Agreement (Vacation Properties International Inc), Employment Agreement (Vacation Properties International Inc), Employment Agreement (Vacation Properties International Inc)
By Employee. (i) At any time after the commencement of employment, Employee may, without "good reason" (as defined below), terminate this Agreement and Employee's employment without good reasonemployment, effective thirty (30) days after written notice is provided to the Company. If Employee resigns or otherwise terminates Employee's employment without good reason, Employee shall receive no severance compensation. .
(ii) If Employee's resignation or other termination by Employee is for good reason (defined as the Company's failure to pay Employee on a timely basis the amounts to which he or she is entitled under this Agreement or as a result of any other material breach of this Agreement by the Company, as determined by a court of competent jurisdiction or pursuant to the provisions of paragraph 16 below), the Company shall pay all amounts and damages to which Employee may be entitled as a result of such breach, including interest thereon and all reasonable legal fees and expenses and other costs incurred by Employee to enforce Employee's rights hereunder in addition to any severance compensation to which Employee may be entitled to hereunder, as calculated pursuant to Section 5(d) hereof. Further, none of the provisions of paragraph 3 hereof shall apply in the event be valid or enforceable if Employee's resignation or termination occurs pursuant to this Agreement is terminated as a result of such a breach by the Companyparagraph 5(e)(ii).
Appears in 2 contracts
Samples: Employment Agreement (Vacation Properties International Inc), Employment Agreement (Vacation Properties International Inc)
By Employee. At (i) Employee may terminate employment hereunder for any time after reason (other than Good Reason) upon sixty (60) days’ prior written notice to Company, provided that, upon the commencement giving of employmentsuch notice by Employee, Company may establish an earlier date for the termination of the Term and such termination under this Section 5.4.
(ii) Employee maymay terminate employment hereunder for Good Reason immediately and with notice to Company. “Good Reason” for termination by Employee shall include, without "good reason" but is not limited to, the following:
(as defined below), terminate a) Material breach of any provision of this Agreement and Employee's employment without good reasonby Company, effective which breach shall not have been cured by Company within thirty (30) days after of receipt of written notice is provided of said material breach;
(b) Failure by Company to the Company. If maintain Employee resigns or otherwise terminates Employee's employment without good reason, Employee shall receive no severance compensation. If Employee's resignation or other termination by Employee is for good reason (defined as the Company's failure in a title and position commensurate with that referred to pay Employee on a timely basis the amounts to which he or she is entitled under this Agreement or as a result of any other material breach in Section 3 of this Agreement without Employee’s express written consent; or
(c) The assignment to Employee of any duties inconsistent with the Employee’s title and position as contemplated by the CompanySection 3 of this Agreement, as determined or any other action by a court Company that results in an unreasonable diminution of competent jurisdiction Employee’s position, authority, duties or pursuant to the provisions of paragraph 16 below), the Company shall pay all amounts and damages to which Employee may be entitled as a result of such breach, including interest thereon and all reasonable legal fees and expenses and other costs incurred by Employee to enforce responsibilities without Employee's rights hereunder in addition to any severance compensation to which Employee may be entitled to hereunder, as calculated pursuant to Section 5(d) hereof. Further, none of the provisions of paragraph 3 hereof shall apply in the event this Agreement is terminated as a result of such a breach by the Company’s express written consent.
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By Employee. At any time after the commencement of employment, Employee may, without "good reason" (as defined below), terminate this Agreement and Employee's employment without good reason, effective thirty (30) days after written notice is provided to the Company. If Employee resigns or otherwise terminates Employee's employment without good reason, Employee shall receive no severance compensation. If Employee's resignation or other termination by Employee is for good reason (defined as (i) the Company's failure to pay Employee on a timely basis the amounts to which he or she is entitled under this Agreement or as a result of (ii) any other material breach of this Agreement by the Company, as determined by a court of competent jurisdiction or pursuant to the provisions of paragraph 16 below), the Company shall pay all amounts and damages to which Employee may be entitled as a result of such breach, including interest thereon and all reasonable legal fees and expenses and other costs incurred by Employee to enforce Employee's rights hereunder in addition to any severance compensation to which Employee may be entitled to hereunder, as calculated pursuant to Section 5(d) hereof. Further, none of the provisions of paragraph 3 hereof shall apply in the event this Agreement is terminated by Employee for good reason as a result of such a breach by the Company.
Appears in 1 contract
Samples: Employment Agreement (Vacation Properties International Inc)