By Employer Not For Cause. At any time, Employer may terminate the Period of Employment Not for Cause for any reason, by providing Employee ten (10) days' advance written notice, provided that Employee shall be paid, in addition to all compensation due and owing through the last day actually worked, severance in an amount equal to six months of the Employee's then current base salary. Such severance shall be paid by Employer to Employee in 6 equal monthly installments, commencing one month from the date of termination, or, at Employer's discretion, in a single lump sum on the termination date. Employer shall also pay the Employer's share of health insurance premiums for a period of up to 6 months, or until Employee is eligible to participate in another employer's plan, whichever comes first, should Employee elect to convert his health insurance benefits under COBRA. Employer shall also pay when due any incentive bonus to which the Employee would have been entitled prorated based on the number of months the Employee was employed during the incentive bonus period and will permit Employee's stock options, if any, to continue to vest for 6 months following the termination date. If Employer terminates the Period of Employment Not for Cause within eighteen (18) months following a Change of Control as defined in subparagraph 4(f), Employee shall receive the severance benefits set forth in subparagraph 4(f)(i)-(iv) rather than the severance benefits set forth in this subparagraph 4(c). Employer shall have the option, in its complete discretion, to terminate the Period of Employment at any time prior to the end of such notice period, provided Employer pays Employee all compensation due and owing through the last day actually worked plus an amount equal to the base salary Employee would have earned through the balance of the above notice period in addition to the severance benefits described above; thereafter, all of Employer's obligations under this Agreement shall cease. Employer may dismiss Employee without cause notwithstanding anything to the contrary contained in or arising from any statements, policies, or practices of Employer relating to the employment, discipline, or termination of its employees.
By Employer Not For Cause. (At Will). At any time, Employer may terminate Employee for any or no reason, with or without cause, and without prior notice. Employer shall pay Employee all compensation then due and owing; thereafter, all of Employer's obligations under this Agreement shall cease.
By Employer Not For Cause. At any time, Employer may terminate Employee without Cause (as defined in Paragraph 4(b) below) by providing Employee thirty (30) days' advance written notice. Employer shall have the option, in its complete discretion, to terminate Employee at any time prior to the end of such 30-day notice period, provided Employer pays Employee all compensation due and owing through the last day actually worked, plus an amount equal to the base salary Employee would have earned through the balance of the above notice period; thereafter, all of Employer's obligations under this Agreement shall cease, except as otherwise expressly set forth in Paragraph 3(a)(1) above. Furthermore, in the event Employer terminates Employee pursuant to this paragraph 4(a) (i.e., without cause) within the first six (6) months of the term of this Agreement, then Employer shall continue to pay Employee's salary pursuant to Paragraph 2(a) above for the remainder of such six (6)-month period.
By Employer Not For Cause. Except as modified in section 3(c), below, at any time, XXXX.XXX may terminate Employee's employment for any reason, with or without Cause, by providing one hundred eighty (180) days' advance written notice, and shall have the option, in its discretion, to terminate Employee's employment at any time prior to the end of such notice period, provided XXXX.XXX pays Employee an amount equal to the base compensation Employee would have earned through the balance of the above notice period plus benefits, thereafter all of XXXX.XXX's obligations under this Agreement shall cease. In the event that XXXX.XXX exercises its right to terminate Employee's employment upon notice under the terms of this subsection, Employee shall be immediately entitled to exercise one hundred percent (100%) of any stock options granted by XXXX.XXX that had not previously vested. If the stock of XXXX.XXX or any parent company is publicly traded, Employee's exercise of stock options subject to vesting under this subsection must be made within four (4) months of the date upon which Employee was informed of XXXX.XXX's intent to terminate his employment. In the event XXXX.XXX's stock is not publicly traded, Employee's exercise of stock options must be made within twelve (12) months of the date upon which Employee was informed of XXXX.XXX's intent to terminate his employment.
By Employer Not For Cause. At any time, Authority may terminate Employee without Cause (as defined in Section 3(B) below) by providing Employee written notice of termination. In the event Employee is terminated without cause, Employee shall be entitled to an amount equal to Employee's base salary for six (6) months conditioned upon Employee signing a release agreement waiving any and all claims Employee may have against Authority related to or arising out of Employee’s employment with Authority, including the termination of said employment. In order for Employee to be eligible for the severance payment, her release agreement must be finalized no later than twenty-one (21) days after the effective date of Employee’s termination or the date upon which the release agreement is presented to Employee, whichever is later. Thereafter, all of Authority's obligations under this Agreement shall cease. Authority may dismiss Employee as provided in this Section 3 notwithstanding anything to the contrary contained in or arising from any statements, policies, or practices of Authority relating to the employment, discipline, or termination of its employees. Notwithstanding any other provision herein, in accordance with Government Code Section 53260, the cash payment that Employee may receive in the event of the termination of this Agreement, as set forth in this Section, shall not exceed an amount equal to the monthly base salary of Employee multiplied by the number of months left on the unexpired term of this Agreement.
By Employer Not For Cause. At any time, Odwalla may terminate Levix xxxhout Cause (as defined below) by providing Levix xxxty (60) days' advance written notice, provided Odwalla:
(i) pays Levix xxx compensation due to Levix xxxough December 21, 2002, or the relevant anniversary thereof, if this Agreement has been automatically renewed as provided by Section 1(b). The compensation due to Levix xxxing this period will be based on Levix'x xxxary as of the effective date of termination and will be payable on a bi-weekly basis;
(ii) reimburses Levix xxx the cost of acquiring health benefits, through COBRA or, to the extent Levix'x xxxgibility for COBRA ends prior to the fulfillment of this obligation, through the independent purchase of comparable health benefits, through December 21, 2002, or the relevant anniversary thereof, if this Agreement has been automatically renewed as provided by Section 1(b); and
(iii) automatically accelerates each outstanding stock option so that each such option shall, at the time Levix'x xxxmination becomes effective, become fully exercisable with respect to the total number of shares of stock at the time subject to such option and may be exercised for any or all of those shares as fully vested shares. Any options so accelerated shall remain exercisable for the limited period set forth in the stock option agreements evidencing the option, but no such option shall be exercisable after the expiration of the option term. Odwalla shall have the option, in its complete discretion, to terminate Levix xx any time prior to the end of the sixty (60) day notice period.
By Employer Not For Cause. At any time, Employer may terminate Employee without Cause (as defined below) by providing Employee sixty (60) days' advance written notice. Employer shall have the option, in its complete discretion, to terminate Employee at any time prior to the end of such notice period, provided Employer pays Employee all compensation and benefits due and owing, including payment for accrued unused vacation, expense reimbursement, and any other benefits through the last day actually worked, plus an amount equal to the base salary Employee would have earned through the balance of the above notice period and all post-termination payments due as set forth in Sections 3(k); thereafter, all of Employer's obligations under this Agreement shall cease.
By Employer Not For Cause. Except as modified in section 3(c), below, at any time, XOOM may terminate Xx. Xxxxx'x employment for any reason, with or without Cause, by providing ninety (90) days' advance written notice, and shall have the option, in its discretion, to terminate Xx. Xxxxx'x employment at any time prior to the end of such notice period, provided XOOM pays Xx. Xxxxx an amount equal to the base compensation Xx. Xxxxx would have earned through the balance of the above notice period plus benefits, thereafter all of XOOM's obligations under this Agreement shall cease. In the event that XOOM exercises its right to terminate Xx. Xxxxx'x employment upon notice under the terms of this subsection, Xx. Xxxxx shall be immediately entitled to exercise one hundred percent (100%) of any stock options granted by XOOM that had not previously vested. If the stock of XOOM or any parent company is publicly traded, Xx. Xxxxx'x exercise of stock options subject to vesting under this subsection must be made within four (4) months of the date upon which Xx. Xxxxx was informed of XOOM's intent to terminate his employment. In the event XOOM's stock is not publicly traded, Xx. Xxxxx'x exercise of stock options must be made within twelve (12) months of the date upon which Xx. Xxxxx was informed of XOOM's intent to terminate his employment. XOOM may dismiss Xx. Xxxxx with or without cause notwithstanding anything to the contrary contained in or arising from any statements, policies, or practices of XOOM relating to employment, discipline, or termination.
By Employer Not For Cause. Except as modified in section 3(c), below, at any time, Company may terminate Executive's employment for any reason, with or without cause, by providing ninety (90) days' advance written notice, and shall have the option, in its discretion, to terminate Executive's employment at any time prior to the end of such notice period, provided Company agrees to pay the Executive an amount equal to the base compensation plus benefits that the Executive would have earned for one (1) year after the termination of employment. Thereafter all of Company's obligations under this Agreement shall cease. In the event that Company exercises its right to terminate Executive's employment upon notice under the terms of this subsection, Executive shall be immediately entitled to exercise fifty percent (50%) of any stock options granted by Company that had not previously vested. If the stock of Company or any parent Company is publicly traded, Executive's exercise of stock options subject to vesting under this subsection must be made within one hundred and eighty (180) days of the date upon which Executive was informed of Company's intent to terminate his employment. In the event Company's or a parent Company's stock is not publicly traded, Executive's exercise of stock options must be made within one hundred eighty (180) days of the date upon which Executive was informed of Company's intent to terminate his employment. In addition to the foregoing, upon acceleration of the of vesting the Company will make available to the Executive a three (3) year loan of an amount equal to the amount of money necessary for Executive to exercise all of his stock options together with such amounts needed to indemnify Employee from any tax liability related to such compensation for the tax year in question.
By Employer Not For Cause. At any time, Progenitor may terminate the Period of Employment for any reason, with or without cause, by providing Xx. Xxxxx thirty (30) days advance written notice. Progenitor shall have the option, in its complete discretion, (A) to require Xx. Xxxxx to work from home and not to report to his office during the balance of the notice period, or (B) to terminate Xx. Xxxxx at any time prior to the end of such notice period. In either event, Progenitor shall (i) pay to Xx. Xxxxx all Accrued Compensation and continue his benefits through the last business day of the notice period; (ii) pay to Xx. Xxxxx on the last business day of the notice period a lump sum equal to six (6) months salary; (iii) pay Xx. Xxxxx'x COBRA premiums for six (6) months following the last business day of the notice period ("Benefit Continuation Period"); and (iv) to the extent permitted by the applicable plans, continue Xx. Xxxxx'x life insurance and disability insurance coverage during the Benefit Continuation Period (items i through iv collectively referred to hereafter as "Separation Benefits"). Thereafter, all of Progenitor's obligations under this Agreement shall cease.
