Compensation in Event of Termination. The Company and Executive acknowledge that Executive’s employment is and shall continue to be at-will, as defined under applicable law, and that Executive’s employment with the Company may be terminated by either party at any time for any or no reason, with or without notice. If Executive’s employment terminates for any reason, Executive shall not be entitled to any payments, benefits, damages, awards or compensation other than as provided in this Agreement. Executive’s employment under this Agreement shall be terminated immediately on the death of Executive. Upon termination of the Term for any reason, the Company shall have no further obligation to Executive except to pay the amounts set forth in this Section 9.
(a) In the event Executive’s employment is terminated pursuant to Sections 8(a)(i), (ii), (iii) or (vii) during or at the expiration of the Term, or pursuant to Section 8(a)(iv) as a result of expiration or non-renewal of the Term by reason of notice of non-renewal by Executive, Executive or his estate, conservator or designated beneficiary, as the case may be, shall be entitled to payment of any earned but unpaid Annual Salary through the date of termination, as well as any accrued vested benefits and unreimbursed business expenses to which Executive is entitled. Following any such termination, neither Executive nor his estate, conservator or designated beneficiary shall be entitled to receive any other payment provided for hereunder with respect to any period after such termination, except as Executive may otherwise be entitled pursuant to any employee benefit plan.
(b) In the event Executive’s employment is terminated pursuant to Section 8(a)(v) or (vi), or pursuant to Section 8(a)(iv) as a result of expiration or non-renewal of the Term by reason of notice of non-renewal by the Company (provided Executive is willing and able, at the time of such expiration or non-renewal, to continue performing services on the terms and conditions set forth herein during any renewal Term), Executive shall be entitled to receive, as his sole and exclusive remedy, (i) payment of any earned but unpaid Annual Salary through the date of termination, as well as any accrued vested benefits and unreimbursed business expenses to which Executive is entitled and (ii) a lump sum payment equal to (x) if such termination occurs on or prior to the first anniversary of the Effective Date, the greater of (A) Executive’s Annual Salary as in effect immediately prior to the date...
Compensation in Event of Termination a. In the event Executive’s employment is terminated pursuant to Section 6(a)(1) or (2) hereof prior to the expiration of the Employment Term, Executive or his estate, conservator or designated beneficiary, as the case may be, shall be entitled to payment by the Company of (i) Base Salary that would have been earned during the remaining Employment Term, (ii) earned but unused vacation days through the date of termination, (iii) issuance of vested but unissued stock grants, options or warrants earned through the date of termination, and (iv) awarded but unpaid Performance-Based Bonus.
b. In the event Executive’s employment is terminated pursuant to Section 6(a)(3) and (c), Executive shall be entitled only to payment of any (i) earned but unpaid Base Salary and earned but unused vacation days.
c. In the event Executive’s employment is terminated pursuant to Section 6(a)(4) hereof upon expiration of the Employment Term, Executive shall be entitled to receive (i) earned but unpaid Base Salary, (ii) payment for unused vacation days through the date of termination, (iii) issuance of vested but unissued stock grants, options or warrants earned through the date of termination, and (iv) awarded but unpaid Performance-Based Bonus.
d. Upon the occurrence of an Adverse Change in Executive’s Employment Circumstances pursuant to Section 6(a)(5) and (d), Executive shall be entitled to receive the following:
(1) Base Salary that Executive earned and that Executive would have earned during the remainder of the Employment Term;
(2) earned but unused vacation days including vacation days that Executive would have earned during the remainder of the Employment Term;
(3) (a) any and all existing stock grants, including grants provided in Section 3(c) of the Agreement, options or warrants owned by Executive, whether vested or not, shall immediately vest regardless of any language to the contrary in this or any other applicable agreement, and the exercise date of any options or warrants shall be extended for a five year period commencing on the date of the occurrence of the Adverse Change in Executive’s Employment Circumstances and (b) the exercise price of each option or warrant shall be automatically repriced to equal the average share common stock price on the five trading days ending before the occurrence of the Adverse Change in Executive’s Employment Circumstances; and (c) at the sole discretion and election of Executive, the Company shall provide a non-recourse loan to Exe...
Compensation in Event of Termination. Upon termination of this Agreement and Executive’s employment, the Company will have no further obligation to Executive except to pay the amounts set forth in this Section 9.
(a) In the event Executive’s employment is terminated pursuant to Section 8(a)(i), (ii), (iii) or (iv) on or before the expiration of the Term, Executive will be entitled to payment of any earned but unpaid Salary through the date of termination. Any bonuses, fees or payments due to Executive under Section 4(b) above as of the date of termination shall be paid to Executive as set forth therein.
(b) In the event Executive’s employment is terminated pursuant to Section 8(a)(v) on, before or after the expiration of the Term, and provided that Executive executes a valid release of any and all claims that Executive may have relating to his employment against the Company and its agents, including, but not limited to, its officers, directors and employees, in a form provided by the Company and that contains a 12-month non-solicitation clause, Executive will be entitled to receive 12 months of Salary, all of which, at the sole discretion of the Company, shall be paid in a lump sum or in accordance with normal continuing payroll practices, and in all cases subject to all applicable withholdings and taxes. Any bonuses, fees or payments due to Executive under Section 4(b) above as of the date of termination shall be paid to Executive as set forth therein.
Compensation in Event of Termination. Upon termination or resignation of Employee’s employment with the Company for any reason, the Company shall have no further obligation to Employee except to pay the amounts set forth in this Section 4.
Compensation in Event of Termination. Upon termination of the Term, this Agreement will terminate and the Company will have no further obligation to Executive except to pay the amounts set forth in this Section 9.
(a) In the event Executive’s employment is terminated pursuant to Sections 8(a)(i), (ii), (iii) or (iv) on or before the expiration of the Term, Executive or his estate, conservator or designated beneficiary, as the case may be, will be entitled to payment of any earned but unpaid Annual Salary for the year in which the Executive’s employment is terminated through the date of termination, as well as any accrued but unused vacation, reimbursement of expenses and vested benefits to which Executive is entitled in accordance with the terms of each applicable Employee Benefits plan.
(b) In the event Executive’s employment is terminated pursuant to Section 8(a)(v) or (vi) on or before the expiration of the Term, Executive will be entitled to receive on the date of termination, as his sole and exclusive remedy, a lump sum amount equal to 2 months of payments that Executive would receive under the Agreement if his employment with the Company had not been terminated, including, but not limited to, the Annual Salary in effect at the time of termination and bonuses (payable at time they would be otherwise be payable), vacation, benefits and reimbursement of expenses.
Compensation in Event of Termination. If the Agreement is terminated in accordance with Paragraph 3.1, Xxxxxx shall be compensated for all Services performed prior to the termination date in accordance with the rates established in this Agreement, together with Reimbursable Expenses then due or incurred.
Compensation in Event of Termination. Upon termination of the Term for any reason, the Company shall have no further obligation to Executive except to pay the amounts set forth in this Section 9.
(a) In the event Executive’s employment is terminated pursuant to Sections 8(a)(i), (ii), (iii) (iv), or (vii) during or at the expiration of the Term, Executive or his estate, conservator or designated beneficiary, as the case may be, shall be entitled to payment of any earned but unpaid Annual Salary through the date of termination, as well as any accrued vested benefits to which Executive is entitled. Following any such termination, neither Executive nor his estate, conservator or designated beneficiary shall be entitled to receive any other payment provided for hereunder with respect to any period after such termination, except as Executive may otherwise be entitled pursuant to any employee benefit plan.
(b) In the event Executive’s employment is terminated pursuant to Section 8(a)(v) or (vi) during the Employment Term, Executive shall be entitled to receive, as his sole and exclusive remedy, (x) payment of any earned but unpaid Annual Salary through the date of termination, as well as any accrued vested benefits to which Executive is entitled and (y) a lump sum payment equal to the Annual Salary that Executive would have been entitled to receive had he continued his employment hereunder for the balance of the Term.
Compensation in Event of Termination. Except as provided in this Section 8, Executive shall not be entitled to any severance or other compensation from the Company after his termination of employment.
8.1. If Executive's employment is terminated by the Company for Cause or by Executive for other than Good Reason, then the Company shall pay Executive any earned but unpaid salary and any accrued but unpaid vacation pay as of the Termination Date and Executive shall not be entitled to any other compensation from the Company.
8.2. If Executive's employment is terminated because of death or permanent disability, then the Company shall pay Executive any accrued but unpaid salary and any accrued but unpaid vacation pay as of the Termination Date and a pro rata amount of Executive's targeted bonus for the year in which Executive dies or becomes permanently disabled, and Executive shall not be entitled to any further compensation from the Company, except that in the case of a disability, Executive shall be entitled to such benefits, if any, payable by the Company to its employees under any disability benefit plan which the Company may have in effect as of the date of any such disability in which Executive is a participant.
8.3. If the Company terminates Executive's employment other than for Cause, death or permanent disability or Executive terminates his employment for Good Reason, at any time other than within three (3) years after a Change in Control, then the Company shall pay to Executive: (i) an amount equal to two (2) times Executive's annual base salary in effect as of the Termination Date; plus (ii) an amount equal to two (2) times the amount of any cash bonus paid to Executive for the year preceding the year in which the Termination Date occurs; plus (iii) the amount of any accrued but unpaid salary as of the Termination Date; plus (iv) a pro rata amount of Executive's targeted bonus for the year in which the Termination Date occurs; plus (v) the amount of any accrued but unpaid vacation pay through the Termination Date.
8.4. If the Company terminates Executive's employment other than for Cause, death or permanent disability or Executive terminates his employment for Good Reason, at any time within 3 years after a Change in Control, then the Company shall pay to Executive: (i) an amount equal to three (3) times the greater of (a) Executive's annual base salary in effect as of the Termination Date or (b) Executive's annual base salary in effect immediately preceding the Change in Control; plus ...
Compensation in Event of Termination. In the event of termination not the fault of the Contractor, the Contractor shall be paid its compensation for services performed to the date of termination, including reimbursable expenses as set forth elsewhere in this Agreement.
Compensation in Event of Termination. Upon termination by either Client or Landscape Architect, Client shall pay Landscape Architect with respect to all contracted Services rendered and expenses incurred before termination, including any termination settlement costs the Landscape Architect reasonably incurs relating to commitments which had become firm before the termination.
