Clawback of Certain Compensation and Benefits. If, after the termination of the Executive’s employment with the Company for any reason other than by the Company for Cause: i) it is determined in good faith by the Board and in accordance with the due process requirements of Article 6(b) that the Executive’s employment could have been terminated by the Company for Cause under Article 6(b) (unless the Board knew or should have known that as of the Termination Date the Executive’s employment could have been terminated for Cause in accordance with Article 6(b)); or ii) the Executive breaches Article 7; then, in addition to any other remedy that may be available to the Company in law or equity and/or pursuant to any other provisions of this Agreement, the Executive’s employment shall be deemed to have been terminated for Cause retroactively to the Termination Date and the Executive also shall be subject to the following provision: the Executive shall be required to pay to the Company, immediately upon written demand by the Board, all amounts paid to him by the Company, whether or not pursuant to this Agreement, on or after the Termination Date (including the pre-tax cost to the Company of any benefits that are in excess of the total amount that the Company would have been required to pay (and the pre-tax cost of any benefits that the Company would have been required to provide) to the Executive if the Executive’s employment with the Company had been terminated by the Company for Cause in accordance with Article 6(b) above;
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Samples: Employment Agreement (Abakan, Inc), Employment Agreement (Abakan, Inc)
Clawback of Certain Compensation and Benefits. If, after the termination of the Executive’s employment with the Company for any reason other than by the Company for Cause:
i) it is determined in good faith by the Board and in accordance with the due process requirements of Article 6(b) that the Executive’s employment could have been terminated by the Company for Cause under Article 6(b) (unless the Board knew or should have known that as of the Termination Date the Executive’s employment could have been terminated for Cause in accordance with Article 6(b)); or
ii) reason, the Executive breaches Article 7; any of the provisions of Section 7 (a), (b), (c), or (d) as determined by a court of competent jurisdiction, then, in addition to any other remedy that may be available to the Company in law or equity and/or pursuant to any other provisions of this Agreement, the Executive’s employment shall be deemed to have been terminated for Cause retroactively to the Termination Date and the Executive also shall be subject to the following provision: provisions:
(i) the Executive shall be required to pay to the Company, immediately upon written demand by the Board, (1) all amounts paid to him as severance by the Company, whether or not pursuant to this Agreement, on or after the Termination Date and (2) all other amounts paid to him by the Company, whether or not pursuant to this Agreement, on or after the Termination Date date of the Executive’s breach of Section 7 (including a), (b), (c), or (d), including, in each case, the pre-tax cost to the Company of any benefits that are in excess of the total amount that the Company would have been required to pay (and the pre-tax cost of any benefits that the Company would have been required to provide) to the Executive if the Executive’s employment with the Company had been terminated by the Company for Cause in accordance with Article Section 6(b) above;
(ii) all vested and ‘unvested Equity Awards then held by the Executive shall immediately expire.
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Clawback of Certain Compensation and Benefits. If, after the termination of the Executive’s employment with the Company for any reason other than by the Company for Cause:
(i) it is determined in good faith by the Board and in accordance with the due process requirements of Article 6(b) that the Executive’s employment could have been terminated by the Company for Cause under Article 6(b) (unless the Board knew or should have known that as of the Termination Date the Executive’s employment could have been terminated for Cause in accordance with Article 6(b)); or
(ii) the Executive breaches Article 7; then, in addition to any other remedy that may be available to the Company in law or equity and/or pursuant to any other provisions of this Agreement, the Executive’s employment shall be deemed to have been terminated for Cause retroactively to the Termination Date and the Executive also shall be subject to the following provision: the Executive shall be required to pay to the Company, immediately upon written demand by the Board, all amounts paid to him by the Company, whether or not pursuant to this Agreement, on or after the Termination Date (including the pre-tax cost to the Company of any benefits that are in excess of the total amount that the Company would have been required to pay (and the pre-tax cost of any benefits that the Company would have been required to provide) to the Executive if the Executive’s employment with the Company had been terminated by the Company for Cause in accordance with Article 6(b) above;
Appears in 1 contract
Samples: Employment Agreement (SONNEN Corp)
Clawback of Certain Compensation and Benefits. If, after the termination of the Executive’s employment with the Company for any reason other than by the Company for Cause:
i) it is determined in good faith by the Board and in accordance with the due process requirements of Article 6(b) that the Executive’s employment could have been terminated by the Company for Cause under Article 6(b) (unless the Board knew or should have known that as of the Termination Date the Executive’s employment could have been terminated for Cause in accordance with Article 6(b)); or
ii) the Executive breaches Article 7; then, in addition to any other remedy that may be available to the Company in law or equity and/or pursuant to any other provisions of this Agreement, the Executive’s employment shall be deemed to have been terminated for Cause retroactively to the Termination Date and the Executive also shall be subject to the following provision: the Executive shall be required to pay to the Company, immediately upon written demand by the Board, all amounts paid to him by the Company, whether or not pursuant to this Agreement, on or after the Termination Date (including the pre-tax cost to the Company of any benefits that are in excess of the total amount that the Company would have been required to pay (and the pre-tax cost of any benefits that the Company would have been required to provide) to the Executive if the Executive’s employment with the Company had been terminated by the Company for Cause in accordance with Article 6(b) above;; Exhibit 10(ix )
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Samples: Employment Agreement (SONNEN Corp)
Clawback of Certain Compensation and Benefits. If, after the termination of the Executive’s employment with the Company for any reason other than by the Company for Cause:
i(a) it is determined in good faith by the Board and in accordance with the due process requirements of Article 6(b) that the Executive’s employment could have been terminated by the Company for Cause under Article 6(b) (unless the Board knew or should have known that as of the Termination Date the Executive’s employment could have been terminated for Cause in accordance with Article 6(b)); or
ii(b) the Executive breaches Article 7; then, in addition to any other remedy that may be available to the Company in law or equity and/or pursuant to any other provisions of this Agreement, the Executive’s employment shall be deemed to have been terminated for Cause retroactively to the Termination Date and the Executive also shall be subject to the following provision: the Executive shall be required to pay to the Company, immediately upon written demand by the Board, all amounts paid to him by the Company, whether or not pursuant to this Agreement, on or after the Termination Date (including the pre-tax cost to the Company of any benefits that are in excess of the total amount that the Company would have been required to pay (and the pre-tax cost of any benefits that the Company would have been required to provide) to the Executive if the Executive’s employment with the Company had been terminated by the Company for Cause in accordance with Article 6(b) above;
Appears in 1 contract
Samples: Employment Agreement (SONNEN Corp)
Clawback of Certain Compensation and Benefits. If, after the termination of the Executive’s employment with the Company for any reason other than by the Company for Cause:
i) it is determined in good faith by the Board and in accordance with the due process requirements of Article 6(b) that the Executive’s employment could have been terminated by the Company for Cause under Article 6(b) (unless the Board knew or should have known that as of the Termination Date the Executive’s employment could have been terminated for Cause in accordance with Article 6(b)); or
ii) reason, the Executive breaches Article 7; any of the provisions of Section 7 (a), (b), (c), or (d) as determined by a court of competent jurisdiction, then, in addition to any other remedy that may be available to the Company in law or equity and/or pursuant to any other provisions of this Agreement, the Executive’s employment shall be deemed to have been terminated for Cause retroactively to the Termination Date and the Executive also shall be subject to the following provision: provisions:
(i) the Executive shall be required to pay to the Company, immediately upon written demand by the Board, (1) all amounts paid to him as severance by the Company, whether or not pursuant to this Agreement, on or after the Termination Date and (2) all other amounts paid to him by the Company, whether or not pursuant to this Agreement, on or after the Termination Date date of the Executive’s breach of Section 7 (including a), (b), (c), or (d), including, in each case, the pre-tax cost to the Company of any benefits that are in excess of the total amount that the Company would have been required to pay (and the pre-tax cost of any benefits that the Company would have been required to provide) to the Executive if the Executive’s employment with the Company had been terminated by the Company for Cause in accordance with Article Section 6(b) above;
(ii) all vested and unvested Equity Awards then held by the Executive shall immediately expire.
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Clawback of Certain Compensation and Benefits. If, after the termination of the ExecutiveDirector’s employment with the Company for any reason other than by the Company for Cause:
(i) it is determined in good faith by the Board and in accordance with the due process requirements of Article 6(b) that the ExecutiveDirector’s employment could have been terminated by the Company for Cause under Article 6(b) (unless the Board knew or should have known that as of the Termination Date the ExecutiveDirector’s employment could have been terminated for Cause in accordance with Article 6(b)); or
(ii) the Executive Director breaches Article 7; then, in addition to any other remedy that may be available to the Company in law or equity and/or pursuant to any other provisions of this Agreement, the ExecutiveDirector’s employment shall be deemed to have been terminated for Cause retroactively to the Termination Date and the Executive Director also shall be subject to the following provision: the Executive Director shall be required to pay to the Company, immediately upon written demand by the Board, all amounts paid to him by the Company, whether or not pursuant to this Agreement, on or after the Termination Date (including the pre-tax cost to the Company of any benefits that are in excess of the total amount that the Company would have been required to pay (and the pre-tax cost of any benefits that the Company would have been required to provide) to the Executive Director if the ExecutiveDirector’s employment with the Company had been terminated by the Company for Cause in accordance with Article 6(b) above;
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Samples: Director Agreement (Abakan, Inc)