Continued Employment; Resignation. Provided that you comply with the provisions of this letter (the “Agreement”), you will remain an employee of the Company until May 31, 2011 (the “Termination Date”), at which time the parties mutually agree that your employment with the Company will end pursuant to your resignation. From the Effective Date of this Agreement (as defined in Paragraph 17 below) until May 31, 2011 (the “Transition Period”), you agree to fully perform the necessary duties of your position as Chief Financial Officer and Chief Operating Officer of the Company and to assist with the transition of your duties to a successor. However, after April 30, 2011, your duties and responsibilities will be substantially reduced and you will not be required to report to the office on a daily basis or perform your regular duties except as otherwise directed by the Company. You will also be permitted to spend a reasonable amount of time consistent with the performance of your duties to search for other employment, including acceptable use of the Company’s phone and email systems to assist in your search. During this Transition Period, and provided that you comply with this Agreement and do not cause any disruption to the Company or interfere with its business, you will continue to receive your regular salary and benefits that you are currently receiving from the Company pursuant to the Company’s normal payroll periods through the Termination Date. [Annie’s, Inc. Header] Xx. Xxxxxx X. Jackson In your final paycheck, you will be paid for all wages earned through your last day worked, including all accrued but unused vacation pay, which you will receive on your last date of employment regardless of whether you sign this Agreement or not. You also agree to accept $220,000 in full satisfaction of your two Company annual bonuses for the Fiscal Year ending on March 31, 2011; one based on Company operating performance and the other based on COGS (cost of goods sold). This payment in lieu of these bonuses will be made after audited financial statements for the 2011 Fiscal Year are released and at the same time that bonuses are paid to other eligible employees of the Company. This Agreement does not alter or amend your at-will employment relationship with the Company. In connection with this Agreement, you understand and agree that you will not be entitled to receive and shall not claim any compensation, payments or benefits from the Company except for those payments and benefits that are expressly set f...
Continued Employment; Resignation. Executive will continue his employment as an Executive Vice President, General Counsel, Corporate Secretary, and Chief Administrative Officer of the Company under and pursuant to the terms of the Employment Agreement until May 31, 2016 (the “Resignation Date”), and on such date Executive will cease to be an Executive Vice President, General Counsel, Corporate Secretary, and Chief Administrative Officer of the Company. Executive will continue his employment as a non-executive employee of the Company from June 1, 2016, through July 15, 2016 (the “Separation Date”), and the Company agrees in all events (other than Executive's death or termination for Cause) to continue Executive's employment from the date of this Agreement through the Separation Date regardless of any disability of Executive and will not take any action to terminate the employment of Executive prior to July 15, 2016, except for Cause and only in the event that Cause actually exists. Until the Resignation Date, Executive will continue to have the responsibilities, duties, and authorities currently associated with his positions as an Executive Vice President, General Counsel, Corporate Secretary, and Chief Administrative Officer of the Company. After the Resignation Date, from June 1, 2016, through July 15, 2016, Executive’s employment will be in a non-executive, non-officer capacity solely to assist, as requested by the Chief Executive Officer of the Company, with the transition of his previous duties to other employees of the Company. After the Resignation Date, Executive (i) will not have any duties or perform any functions for the Company or any subsidiary or affiliate of the Company corresponding to the duties or functions of an officer of the Company or any subsidiary or affiliate of the Company and (ii) will not perform any policy-making functions for the Company or any subsidiary or affiliate of the Company. Executive hereby resigns as an officer of and from all other positions with CSGS and Systems, effective on the Resignation Date, and the Company accepts such resignation. The Company and Executive will use their respective best efforts to effect Executive's resignation or removal from all positions with any direct or indirect subsidiaries or affiliates of CSGS other than Systems as soon as practicable after the Resignation Date.
Continued Employment; Resignation. In order to retire, Employee hereby --------------------------------- resigns from his employment with MGI at the Resignation Date, which shall be the earlier of (i) the date the Board of Directors (the "Board") in its sole discretion determines that it is in the best interest of MGI that Employee's employment shall cease or (ii) the time at which a successor to Employee is chosen and begins employment with MGI. From the effective date of this Agreement, December 31, 1995 (the "Effective Date") until the Resignation Date, Employee shall remain employed by MGI at, at least, his current base salary of $275,000 dollars per year, less applicable withholding and deductions, and with all benefits associated with full time employment at MGI. MGI, recognizing that Employee is important to the recently initiated collaboration with Dainippon, has requested, and Employee has agreed to continue to assist MGI in its relationship with Dainippon regarding MGI-114 and its analogues. From Effective Date to Resignation Date Employee will continue to assume responsibility as the primary, senior interface between the MGI Board, MGI management and senior management at Dainippon. In addition, Employee agrees that from Resignation Date to September 30, 1997, Employee may, from time to time, be required to provide certain services, as may be reasonably determined by the Board, on MGI's behalf with respect to Dainippon. In no event, however, will Employee be required to commit more than one day per month to such services after Resignation Date including travel time.
