Common use of Cause and Voluntary Termination Clause in Contracts

Cause and Voluntary Termination. If, during the Employment Period, ------------------------------- Executive's employment shall be terminated for cause or voluntarily terminated by Executive in accordance with Section 6(b) other than during the 90 day period described in Section 7(c)(i) below, the Company shall pay Executive (i) the Earned Salary in cash in a single lump sum, or otherwise directed by Executive, as soon as practicable, but in no event more than 10 days following the Date of Termination, and (ii) the Accrued Obligations in accordance with the terms of the applicable plan, program or arrangement.

Appears in 3 contracts

Samples: Employment Agreement (Terra Nova Bermuda Holding LTD), Employment Agreement (Terra Nova Bermuda Holding LTD), Employment Agreement (Terra Nova Bermuda Holding LTD)

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Cause and Voluntary Termination. If, during the Employment Period, ------------------------------- the Executive's employment shall be terminated for cause Cause or voluntarily terminated by Executive the Execu- tive (other than on account of Good Reason following a Change of Control) in accordance with Section 6(b) other than during the 90 180 day period described in Section 7(c)(i) below, the Company shall pay the Executive (i) the Earned Salary in cash in a single lump sum, or otherwise directed by Executive, sum as soon as practicable, but in no event more than 10 days days, following the Date of Termination, and (ii) the Accrued Obligations in accordance with the terms of the applicable plan, program or arrangement.

Appears in 1 contract

Samples: Key Executive Employment Protection Agreement (Uslife Corp)

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