Common use of By the Company for Cause or by the Executive Without Good Reason Clause in Contracts

By the Company for Cause or by the Executive Without Good Reason. (i) The Term and the Executive’s employment hereunder may be terminated by the Company for Cause, immediately upon the delivery of a Notice of Termination by the Company to the Executive (except where the Executive is entitled to a cure period, in which case such Date of Termination shall be upon the expiration of such cure period, if such matter constituting Cause is not cured) and shall terminate automatically upon the Executive’s resignation (other than for Good Reason or due to the Executive’s death or Disability). (ii) If the Executive’s employment is terminated by the Company for Cause, or if the Executive resigns other than for Good Reason, the Executive shall be entitled to receive: (A) any accrued but unpaid Base Salary through the Date of Termination; (B) reimbursement for any unreimbursed business expenses incurred by the Executive in accordance with Company policy referenced in Section 4 above prior to the Date of Termination (with such reimbursements to be paid promptly after the Executive provides the Company with the necessary documentation of such expenses to the extent required by such policy); and (C) such Employee Benefits, if any, as to which the Company may be entitled upon termination of employment hereunder (including under the applicable provisions of Consolidated Omnibus Budget Reconciliation Act of 1985, as amended. Following the Executive’s termination of employment by the Company for Cause or if he resigns other than for Good Reason, except as set forth above or as required by applicable law, the Executive shall have no further rights to any compensation or any other benefits under this Agreement.

Appears in 2 contracts

Samples: Employment Agreement (Octavian Global Technologies, Inc.), Employment Agreement (Octavian Global Technologies, Inc.)

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By the Company for Cause or by the Executive Without Good Reason. (ia) The Term and the Executive’s employment hereunder may be terminated by the Company for Cause; or, immediately upon the delivery of a Notice of Termination by the Company to the Executive (except where the Executive is entitled to a cure period, in which case such Date of Termination shall be upon the expiration of such cure period, if such matter constituting Cause is not cured) and shall terminate automatically upon the Executive’s resignation (other than for without Good Reason or due to the Executive’s death or Disability). (ii) Reason. If the Executive’s employment is terminated by the Company for Cause, Cause or if by the Executive resigns other than for without Good Reason, the Executive shall be entitled to receive: (Ai) any accrued but unpaid Base Salary through and accrued but unused vacation which shall be paid on the pay date immediately following the Termination Date of Termination(as defined below) in accordance with the Company’s customary payroll procedures; (Bii) any earned but unpaid Annual Bonus with respect to any completed fiscal year immediately preceding the Termination Date, which shall be paid on the otherwise applicable payment date, except to the extent payment is otherwise deferred pursuant to any applicable deferred compensation arrangement; provided that, if the Executive’s employment is terminated by the Company for Cause, then any such accrued but unpaid Annual Bonus shall be forfeited; (iii) reimbursement for any unreimbursed business expenses properly incurred by the Executive Executive, which shall be subject to and paid in accordance with Company policy referenced in Section 4 above prior to the Date of Termination (with such reimbursements to be paid promptly after the Executive provides the Company with the necessary documentation of such expenses to the extent required by such Company’s expense reimbursement policy); and (Civ) such Employee Benefitsemployee benefits (including equity compensation), if any, as to which the Company Executive may be entitled upon termination of employment hereunder (including under the applicable provisions Company’s employee benefit plans pro rata as of Consolidated Omnibus Budget Reconciliation Act the Termination Date; provided that, in no event shall the Executive be entitled to any payments in the nature of 1985, as amended. Following the Executive’s severance or termination of employment by the Company for Cause or if he resigns other than for Good Reason, payments except as set forth above or specifically provided herein. Items 5.1(a)(i) through 5.1(a)(iv) are referred to herein collectively as required by applicable law, the Executive shall have no further rights to any compensation or any other benefits under “Accrued Amounts”. (b) For purposes of this Agreement., “Cause” shall mean:

Appears in 1 contract

Samples: Executive Employment Agreement (Marijuana Co of America, Inc.)

By the Company for Cause or by the Executive Without Good Reason. (i) The Term and the Executive’s employment hereunder may be terminated by the Company Company, DollarDays or Wow for Cause, immediately upon the delivery of a Notice of Termination by the Company to the Executive (except where the Executive is entitled to a cure period, in which case such Date of Termination shall be upon the expiration of such cure period, if such matter constituting Cause is not cured) and shall terminate automatically upon the Executive’s resignation (other than for Good Reason or due to the Executive’s death or Disability). (ii) If the Executive’s employment is terminated by the Company for Cause, or if the Executive resigns other than for Good Reason, the Executive shall be entitled to receive: (A) any accrued but unpaid Base Salary through the Date of Termination; (B) reimbursement for any unreimbursed business expenses incurred by the Executive in accordance with Company DollarDays’ or Wow’s policy referenced in Section 4 above prior to the Date of Termination (with such reimbursements to be paid promptly after the Executive provides the Company with the necessary documentation of such expenses to the extent required by such policy); and (C) such Employee Benefits, if any, as to which the Company he may be entitled upon termination of employment hereunder (including under the applicable provisions of Consolidated Omnibus Budget Reconciliation Act of 1985, as amended). Following the Executive’s termination of employment by the Company for Cause or if he resigns other than for Good Reason, except as set forth above or as required by applicable law, the Executive shall have no further rights to any compensation or any other benefits under this Agreement.

Appears in 1 contract

Samples: Employment Agreement (America's Suppliers, Inc.)

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By the Company for Cause or by the Executive Without Good Reason. (i) The Term and the Executive’s employment hereunder may be terminated by the Company Company, Dollardays or Wow for Cause, immediately upon the delivery of a Notice of Termination by the Company to the Executive (except where the Executive is entitled to a cure period, in which case such Date of Termination shall be upon the expiration of such cure period, if such matter constituting Cause is not cured) and shall terminate automatically upon the Executive’s resignation (other than for Good Reason or due to the Executive’s death or Disability). (ii) If the Executive’s employment is terminated by the Company for Cause, or if the Executive resigns other than for Good Reason, the Executive shall be entitled to receive: (A) any accrued but unpaid Base Salary through the Date of Termination; (B) reimbursement for any unreimbursed business expenses incurred by the Executive in accordance with Company Dollardays’ or Wow’s policy referenced in Section 4 above prior to the Date of Termination (with such reimbursements to be paid promptly after the Executive provides the Company with the necessary documentation of such expenses to the extent required by such policy); and (C) such Employee Benefits, if any, as to which the Company he may be entitled upon termination of employment hereunder (including under the applicable provisions of Consolidated Omnibus Budget Reconciliation Act of 1985, as amended). Following the Executive’s termination of employment by the Company for Cause or if he resigns other than for Good Reason, except as set forth above or as required by applicable law, the Executive shall have no further rights to any compensation or any other benefits under this Agreement.

Appears in 1 contract

Samples: Employment Agreement (America's Suppliers, Inc.)

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