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.e. the date on which the shares tendered in the Offer are accepted for payment, and the date on which Xxxxxx is paid the consideration set forth in Section 1(b) below. As of the Effective Date, neither the Company nor Xxxxxx shall have any further rights or obligations under the Employment Agreement.
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.
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, dated as of December 16, 1996, between you and Healthcare (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. Executive understands and agrees that he will receive only those payments and benefits specifically stated in this Agreement. Executive and the Company agree that the Employment Agreement is hereby cancelled, terminated and of no further force and effect.
Cancellation of Employment Agreement. Except for the provisions of Sections 8(A) – (E) of the Employment Agreement which shall survive cancellation, expiration or termination for the period set forth in the sections or, if no such period is specified in the Employment Agreement, for a period of ten (10) years, the Employment Agreement is hereby deemed cancelled in its entirety.
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 hereby rescinded in its entirety and shall be of no further force or effect, including, but not limited to, any right Bocksch may have had to receive any stock options thereunder. All stock options previously granted to Bocksch by the Company are hereby terminated. Notwithstanding the immediately preceding sentence, paragraph 6(d) (No solicitation of employees and customers) and paragraph 7 (Injunctive Relief) of the Employment Agreement shall remain in full force and effect for a period of twelve months after the termination of Bocksch's employment, except that paragraph 6(d)(i) shall apply with respect to any person, firm or corporation whether or not in competition with the business of the Company or any of its subsidiaries, and paragraph 6(a) (Confidentiality) of the Employment Agreement shall remain in full force and effect as specified in the Employment Agreement.
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.
