Common use of By Executive Not for Good Reason Clause in Contracts

By Executive Not for Good Reason. At any time, Executive may terminate -------------------------------- the Period of Employment for any reason other than Good Reason (as defined below) by providing the Company fourteen (14) days' advance written notice. The Company shall have the option, in its complete discretion, to make termination of the Period of Employment effective at any time prior to the end of such notice period, provided the Company pays Executive all compensation due and owing through the last day actually worked. Thereafter, all of the Company's obligations under this Agreement shall immediately and forever cease, except for those required by law, except for those which expressly survive termination of this Agreement and except that notwithstanding any vesting or termination provisions contained in Executive's applicable Stock Option Grants with the Company, Executive's unvested Options shall immediately vest upon such termination and Executive shall be able to exercise his vested Options for one year thereafter, otherwise in accordance with the terms of his applicable Stock Option Agreements with the Company. Executive, however, will not be entitled to Severance.

Appears in 1 contract

Samples: Executive Employment Agreement (Oxis International Inc)

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By Executive Not for Good Reason. At any time, Executive may terminate -------------------------------- the Period of Employment for any reason other than Good Reason (as defined below) by providing the Company fourteen (14) days' advance written notice. The Company shall have the option, in its complete discretion, to make termination of the Period of Employment effective at any time prior to the end of such notice period, provided the Company pays Executive all compensation due and owing through the last day actually worked. Thereafter, all of the Company's obligations under this Agreement shall immediately and forever cease, except for those required by law, except for those which expressly survive termination of this Agreement Agreement, and except that notwithstanding any vesting or termination provisions contained in Executive's applicable Stock Option Grants with the Company, Company Executive's unvested Options shall immediately vest upon such termination and Executive shall be able to exercise his vested Options for one year thereafter, otherwise in accordance with the terms of his applicable Stock Option Agreements with the CompanyAgreements. Executive, however, will not be entitled to Severance.

Appears in 1 contract

Samples: Executive Separation and Employment Agreement (Oxis International Inc)

By Executive Not for Good Reason. At any time, Executive may terminate -------------------------------- the Period of Employment for any reason other than Good Reason (as defined below) by providing the Company fourteen (14) days' advance written notice. The Company shall have the option, in its complete discretion, to make termination of the Period of Employment effective at any time prior to the end of such notice period, provided the Company pays Executive all compensation due and owing through the last day actually worked. Thereafter, all of the Company's ’s obligations under this Agreement shall immediately and forever cease, except for those required by law, except for those which expressly survive termination of this Agreement Agreement, and except that notwithstanding any vesting or termination provisions contained in Executive's ’s applicable Stock Option Grants with the Company, Company Executive's ’s unvested Options shall immediately vest upon such termination and Executive shall be able to exercise his vested Options for one year thereafter, otherwise in accordance with the terms of his applicable Stock Option Agreements with the CompanyAgreements. Executive, however, will not be entitled to Severance.

Appears in 1 contract

Samples: Employment Agreement (Oxis International Inc)

By Executive Not for Good Reason. At any time, Executive may terminate -------------------------------- the Period of Employment for any reason other than Good Reason (as defined below) by providing the Company fourteen (14) days' advance written notice. The Company shall have the option, in its complete discretion, to make termination of the Period of Employment effective at any time prior to the end of such notice period, provided the Company pays Executive all compensation due and owing through the last day actually worked. Thereafter, all of the Company's ’s obligations under this Agreement shall immediately and forever cease, except for those required by law, except for those which expressly survive termination of this Agreement Agreement, and except that notwithstanding any vesting or termination provisions contained in Executive's ’s applicable Stock Option Grants with the Company, Company Executive's ’s unvested Options shall immediately vest upon such termination and Executive shall be able to exercise his her vested Options for one year thereafter, otherwise in accordance with the terms of his her applicable Stock Option Agreements with the CompanyAgreements. Executive, however, will not be entitled to Severance.

Appears in 1 contract

Samples: Employment Agreement (Oxis International Inc)

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By Executive Not for Good Reason. At any time, Executive may -------------------------------- terminate -------------------------------- the Period of Employment for any reason other than Good Reason (as defined below) by providing the Company fourteen (14) days' advance written notice. The Company shall have the option, in its complete discretion, to make termination of the Period of Employment effective at any time prior to the end of such notice period, provided the Company pays Executive all compensation due and owing through the last day actually worked. Thereafter, all of the Company's obligations under this Agreement shall immediately and forever cease, except for those required by law, except for those which expressly survive termination of this Agreement and except that notwithstanding any vesting or termination provisions contained in Executive's applicable Stock Option Grants with the Company, Executive's unvested Options shall immediately vest upon such termination and Executive shall be able to exercise his vested Options for one year thereafter, otherwise in accordance with the terms of his applicable Stock Option Agreements with the Company. Executive, however, will not be entitled to Severance.. d.

Appears in 1 contract

Samples: Executive Employment Agreement (Oxis International Inc)

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