Cancellation of Employment Agreement. On the Effective Date, the Company and the Executive hereby agree that the Employment Agreement shall be cancelled and of no further force or effect and the Company shall have no obligation to the Executive under the terms of the Employment Agreement. Executive acknowledges that as of the Effective Date, Executive is an “at-will” employee of the Company. Notwithstanding the foregoing, the Executive confirms and acknowledges that Section 8 of the Employment Agreement shall survive the termination of the Employment Agreement.
Cancellation of Employment Agreement. (a) The Employment Agreement is hereby cancelled and shall be of no further force and effect as of the "Effective Date." The Effective Date shall be the later of the following dates: the date of the consummation of the Offer (as defined in the Merger Agreement), i.
Cancellation of Employment Agreement. (a) Effective as of the Effective Date, the Executive and the Company hereby terminate, nullify, and cancel the Simple Technology, Inc., Employment Agreement, dated March 20, 2000, entered into between the Executive and the Company. All provisions of said Employment Agreement, including the arbitration provisions, are hereby null, void, and of no force or effect. The Executive agrees to timely enter into and execute any additional documents necessary or appropriate to effect the intent of this Article II.
(b) The Executive’s employment with the Company is “at will,” meaning that either the Executive or the Company may terminate the employment relationship at any time on notice to the other, with or without Cause, for any reason, no reason or Good Reason, and with no liability of either party to the other, except as expressly described in this Agreement or any other express agreement executed by both parties. This Agreement is not intended to, and shall not infer or imply any right on the part of the Executive to continue in the employ of the Company or any of its Affiliates. This Agreement is not intended in any way to limit the right of the Company to terminate the employment of the Executive.
Cancellation of Employment Agreement. In mutual consideration of the promises contained in this termination agreement (the "Agreement"), effective as of the Effective Date the Employment Agreement shall terminate and be of no further force and effect, except as otherwise provided in this Agreement. Unless otherwise separately defined herein, all capitalized terms used herein shall have the same meaning as defined in the Employment Agreement.
Cancellation of Employment Agreement. Effective as of the Effective Date, the Inventor and the Company agree to cancel the Employment Agreement, and each of the terms and conditions set forth therein, in its and their entirety.
Cancellation of Employment Agreement. The parties covenant and agree that the Employment Agreement, together with any other prior or subsequent agreements, whether oral or written, relating to the employment of the Executive with the Company, are hereby cancelled and shall be of no further force or effect whatsoever, and no sums shall be due Executive thereunder in connection with the resignations provided for herein or otherwise, except for the provisions of Section 9 of the Employment Agreement, "Restrictions on Conduct of the Executive," which shall survive such cancellation.
Cancellation of Employment Agreement. Immediately prior to the Effective Time, in consideration for the Executive’s receipt from Purchaser or FM Bank of the Employment Agreement Amount (as defined in Section 2 below) as provided herein, the Employment Agreement shall be cancelled in its entirety, except to the extent set forth herein below, and the parties thereto shall have no further rights or obligations thereunder.
Cancellation of Employment Agreement. The Employment Agreement is cancelled effective as of the date hereof, provided that the provisions of Section 8 (regarding certain excise tax gross-up payments) and Section 9 (regarding protection of Bank of America’s “Confidential Information”) of the Employment Agreement shall remain in effect. In that regard, from and after the date hereof, as is the case with associates within Bank of America and its subsidiaries generally, Executive shall have the right to terminate his employment at any time with or without cause or notice, and Bank of America reserves for itself an equal right.
Cancellation of Employment Agreement. The Employment Agreement is hereby canceled and terminated effective the close of business on November 30, 2000. The parties waive any written notice requirement for termination by mutual written consent as set forth in section 14(b) of the Employment Agreement. Consultant hereby forfeits and waives any right to any bonuses, any unused vacation time, or any other benefits accrued as of the date of termination of the Employment Agreement. The Client acknowledges its obligation to pay for the Client's expenses incurred on consultant's American Express credit card in the amount of $226,889.43.
Cancellation of Employment Agreement. Xxxxxxxxx and Carnegie hereby agree and acknowledge that the Employment Agreement, together with all of its covenants, promises and terms, shall be and is terminated, cancelled and voided, so that it shall no longer be legally operative or of any force and effect.
