Compensation Upon Termination for Any Reason Sample Clauses
The 'Compensation Upon Termination for Any Reason' clause defines the financial entitlements an employee or party receives if their contract is ended, regardless of the cause. Typically, this clause outlines what payments, such as accrued salary, unused vacation, or severance, are due upon termination, and may specify timing and method of payment. Its core function is to ensure both parties understand their financial rights and obligations at the end of the contractual relationship, reducing disputes and providing clarity in the event of termination.
Compensation Upon Termination for Any Reason. Upon termination of Executive’s employment during the Employment Period before the expiration of the stated term hereof for any reason, Executive shall be entitled to the following within thirty (30) days of such termination:
Compensation Upon Termination for Any Reason. Upon the Executive’s termination, the Company shall pay the Executive’s base salary and any accrued and unused vacation benefits earned through the effective date of termination at the rate in effect at the time of termination, less standard deductions and withholdings, and the Company shall thereafter have no further obligations to the Executive under this Agreement other than with respect to a termination covered by Section 4(c) and/or Section 4(d) hereof.
Compensation Upon Termination for Any Reason. Upon the termination of Executive’s employment under this Agreement, Executive shall be entitled to the following:
(a) Termination by the Company for Cause or as a Result of the Resignation of Executive. In the event that Executive’s employment is terminated by the Company for Cause, or as a result of Executive’s resignation, the Company shall, in addition to any benefits provided under any employee benefit plan or program of the Company, pay the following amounts to Executive (or his estate or other legal representative, as the case may be) within the time period required by applicable law (and in all events within thirty (30) days of such termination):
(i) any accrued but unpaid Base Salary (as determined pursuant to Section 5(a) hereof) for services rendered to the date of termination;
(ii) any earned, but unpaid, bonus for services rendered during the year preceding the date of termination;
(iii) any accrued, unused vacation or paid time off; and
(iv) any accrued but unpaid expenses required to be reimbursed pursuant to Section 5(e) hereof. The amounts described in clauses (i) through (iv) above, together with benefits provided under any employee benefit plan or program of the Company, shall be referred to herein as the “Accrued Obligations.”
Compensation Upon Termination for Any Reason. Upon termination of Executive’s employment during the Employment Period before the expiration of the stated term hereof for any reason (including death or permanent disability), Executive shall be entitled to:
Compensation Upon Termination for Any Reason. Upon the termination of Executive’s employment under this Agreement, Executive shall be entitled to the following:
(a) Termination by the Company for Cause or as a Result of the
Compensation Upon Termination for Any Reason. Subsection (c)(ii) Termination by the Company Without Cause, or by the Executive for Good Reason, or Upon Non-Renewal by the Company (including in connection with a Change of Control) is amended to read as follows: “The Agreement will not be terminated by the Company at any time prior to the end of the Initial two-year Term except for Cause. In the event that Executive’s employment is terminated by the Company without Cause commencing two (2) years from the date of this Amendment, or at any time by the Executive for Good Reason, or as a result of expiration of the Employment Period by reason of the Company’s issuance of a Non-Renewal Notice, the Company shall pay and/or provide the following amounts to Executive:
(1) The Company shall pay Executive a single lump sum cash amount on the next regularly scheduled payroll date following Executive’s date of termination, in an amount equal to the number of years employed by the Company (or fraction thereof) plus two (2) multiplied by one (1) month of Base Salary with a minimum of six (6) months Base Salary at all times during the Employment Period.”
7. Except as set forth herein, the Agreement remains in full force and effect.
Compensation Upon Termination for Any Reason. Upon the termination of Executive’s employment under this Agreement before the expiration of the stated term in this Agreement, Executive shall be entitled to the following within thirty (30) days of such termination:
(a) Termination by the Company for Cause or as a Result of the Resignation of Executive. In the event that Executive’s employment is terminated by the Company for Cause, or as a result of Executive’s resignation, the Company shall pay the following amounts to Executive (or his estate or other legal representative, as the case may be):
(i) any accrued but unpaid Base Salary (as determined pursuant to Section 5(a) hereof, including any shares of Common Stock) for services rendered to the date of termination; and
(ii) any accrued but unpaid expenses required to be reimbursed pursuant to Section 5(e) hereof. The amounts described in Sections 9(a)(i) and 9(a)(ii) shall be referred to herein as the “Accrued Obligations.”
Compensation Upon Termination for Any Reason. Upon termination of Employee’s employment for any reason, Employee shall be entitled to the following within thirty (30) days of such termination: