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

By the Company Without Cause or By the Executive for Good Reason. If the Company terminates the Executive’s employment without Cause or if the Executive terminates his employment for Good Reason, the Executive shall be entitled to receive only the following, upon execution without revocation of a valid general release of all claims against the Company and its Affiliates, substantially in the form attached hereto as Exhibit A: (a) the Accrued Benefits; (b) the Executive’s accrued but unpaid vacation, if any, to the date of termination; (c) continued Base Salary for twelve (12) months after the date of termination, payable in monthly installments; and (d) continued coverage under the Company’s medical and dental plans for twelve (12) months after the date of termination; provided, that the Company may provide such coverage through reimbursement of the cost of continuation of group health coverage, pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1986, to the extent the Executive is eligible and subject to the terms of the plan and the law, and no other severance or other benefits from the Company.

Appears in 1 contract

Samples: Employment Agreement (Greenville Tube CO)

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By the Company Without Cause or By the Executive for Good Reason. If the Company terminates the Executive’s 's employment without Cause or if the Executive terminates his employment for Good Reason, the Executive shall be entitled to receive only the following, upon execution without revocation of a valid general release of all claims against the Company Company, Holdings, the LLC, and its AffiliatesXxxxxx Xxxxxx Partners IV, L.P., and other affiliates, substantially in the form attached hereto as Exhibit A: (a) the Accrued Benefits; (b) the Executive’s 's accrued but unpaid vacation, if any, to the date of termination; (c) continued Base Salary for twelve (12) months after the date of termination, payable in monthly installments; and (d) continued coverage under the Company’s 's medical and dental plans for twelve (12) months after the date of termination; provided, that the Company may provide such coverage through reimbursement of the cost of continuation of group health coverage, pursuant to the Consolidated Omnibus Budget Reconciliation Act of 19861986 ("COBRA"), to the extent the Executive is eligible and subject to the terms of the plan and the law, and no other severance or other benefits from the Company.

Appears in 1 contract

Samples: Employment Agreement (Greenville Tube CO)

By the Company Without Cause or By the Executive for Good Reason. If the Company terminates the Executive’s employment without Cause or if the Executive terminates his employment for Good Reason, the Executive shall be entitled to receive only the following, upon execution without revocation of a valid general release of all claims against the Company Company, Holdings, the LLC, and its Affiliatesother affiliates, substantially in the form attached hereto as Exhibit A: (a) the Accrued Benefits; (b) the Executive’s accrued but unpaid vacation, if any, to the date of termination; (c) continued Base Salary for twelve (12twelve(12) months after the date of termination, payable in monthly installments; and (d) continued coverage under the Company’s medical and dental plans for twelve (12) months after the date of termination; provided, that the Company may provide such coverage through reimbursement of the cost of continuation of group health coverage, pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1986, to the extent the Executive is eligible and subject to the terms of the plan and the law. (e) the unpaid remaining balance of the fiscal 2009 minimum bonus set forth in section 4.1, and no other severance or other benefits from if any, subject to the CompanyExecutive having completed his relocation to the Chicago, IL area.

Appears in 1 contract

Samples: Employment Agreement (Greenville Tube CO)

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By the Company Without Cause or By the Executive for Good Reason. If the Company terminates the Executive’s employment without Cause or if the Executive terminates his employment for Good Reason, the Executive shall be entitled to receive only the following, upon execution and delivery to the Company without revocation of a valid general release of all claims against the Company and its Affiliates, substantially in the form attached hereto as Exhibit A:A (a “Release”): (a) the Accrued Benefits; (b) the Executive’s accrued but unpaid vacation, if any, to the date of termination; (c) continued Base Salary for twelve (12) months after the date of termination, payable in monthly installments; and (d) continued coverage under the Company’s medical and dental plans for twelve (12) months after the date of termination; provided, that the Company may provide such coverage through reimbursement of the cost of continuation of group health coverage, pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1986, to the extent the Executive is eligible and subject to the terms of the plan and the applicable law, and no other severance or other benefits from the Company.

Appears in 1 contract

Samples: Employment Agreement (Greenville Tube CO)

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