By ICAA Sample Clauses

By ICAA. In its sole discretion, ICAA has the right to terminate this Agreement at any time during the Term without Cause. In the event ICAA terminates this Agreement without Cause, ICAA’s sole obligation shall be to pay Coach, as liquidated damages and not as a penalty, the amounts set forth below (the “ICAA Separation Payment”): Contract Year 1 60% of the amount equal to the remaining balance of Coach’s Guaranteed Compensation that would have been owed to Coach if Coach was fully performing Coach’s duties through the end of the Term. Contract Year 2 75% of the amount equal to the remaining balance of Coach’s Guaranteed Compensation that would have been owed to Coach if Coach was fully performing Coach’s duties through the end of the Term. Contract Year 3 35% of the amount equal to the remaining balance of Coach’s Guaranteed Compensation that would have been owed to Coach if Coach was fully performing Coach’s duties through the end of the Term. The applicable sum due to Coach shall be paid by ICAA over twelve (12) months in equal installments beginning thirty (30) days from the effective date of Coach’s termination without Cause. The payment of liquidated damages as set forth in this subsection is subject to the duty to mitigate in subsection 18.3 below.
Sample 1Sample 2
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By ICAA. In its sole discretion, ICAA has the right to terminate this Agreement at any time during the Term without Cause. In the event ICAA terminates this Agreement without Cause, ICAA’s sole obligation shall be to pay Coach, as liquidated damages and not as a penalty, fifty percent (50%) of the amount equal to the remaining balance of Coach’s Guaranteed and Other Compensation that would have been owed to Coach if Coach was fully performing Coach’s duties through the end of the Term (the “ICAA Separation Payment”). The applicable sum due to Coach shall be paid by ICAA over twelve (12) months in equal installments beginning thirty (30) days from the effective date of Coach’s termination without Cause. The payment of liquidated damages as set forth in this subsection is subject to the duty to mitigate in subsection 20.3 below.
Sample 1
By ICAA. In its sole discretion, ICAA has the right to terminate this Agreement at any time during the Term without Cause. In the event ICAA terminates this Agreement without Cause, ICAA’s sole obligation shall be to pay Coach: (a) any Guaranteed Compensation, Other Compensation, Retention Bonus, and Performance Incentives earned as of the effective date of termination; and (b) as liquidated damages and not as a penalty, the amounts set forth below (the “ICAA Separation Payments”). The applicable sum due to Coach shall be paid by ICAA in equal monthly installment payments commencing within 30 days of the date of termination and continuing thereafter until the end of the month coinciding with the end of the Term.
Sample 1

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