Common use of Effect of Termination for Cause Clause in Contracts

Effect of Termination for Cause. In the event of termination of Employee for cause as set forth in Subsection 12.A, or a voluntary termination by Employee in breach of this Restated Agreement without the consent of the Company, Employee shall have no right to any bonuses, salaries, benefits or entitlements other than those required by law or specifically provided under the terms of the applicable plan document. Payment of any further bonuses or other salaries claimed by Employee will be in the sole and absolute discretion of the Company, and Employee shall have no entitlement thereto.

Appears in 4 contracts

Samples: Executive Employment Agreement (Avteam Inc), Executive Employment Agreement (Avteam Inc), Executive Employment Agreement (Avteam Inc)

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Effect of Termination for Cause. In the event of termination of Employee for cause as set forth in Subsection 12.A11.A., or a voluntary termination by Employee in breach of this Restated Agreement without the consent of the Company, Employee shall have no right to any bonuses, salaries, benefits or entitlements other than those required by law or specifically provided under the terms of the applicable plan document. Payment of any further bonuses or other salaries claimed by Employee will be in the sole and absolute discretion of the Company, and Employee shall have no entitlement thereto.

Appears in 4 contracts

Samples: Employment Agreement (Avteam Inc), Employment Agreement (Avteam Inc), Employment Agreement (Avteam Inc)

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Effect of Termination for Cause. In the event of termination of Employee for cause as set forth in Subsection 12.A11.A, or a voluntary termination by Employee in breach of this Restated Agreement without the consent of the Company, Company Employee shall have no right to any bonuses, salaries, benefits or entitlements other than those accrued or required by law or specifically provided under the terms of the applicable plan document. Payment of any further bonuses or other salaries claimed by Employee will be in the sole and absolute discretion of the Company, Board of Directors of the Company and Employee shall will have no entitlement thereto.

Appears in 1 contract

Samples: Executive Employment Agreement (Digital Lightwave Inc)

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