Effects of Termination for Cause. In the event this Agreement is terminated for Cause, all of the Company’s obligations under this agreement shall cease as of the date in which the Employee’s receives the Notice of Termination. The Company shall pay the Fixed Annual Compensation up to the date of termination, and have no further obligations to Employee under this Agreement. Additionally, in the event this Agreement is terminated for Cause, the Employee is prohibited from taking Employment with a direct competitor of the Company for a period of two years from the date of termination. The Company may also pursue damages and injunctive relief from Employee as compensation for its damages.
Appears in 6 contracts
Samples: Employment Agreement (Minerco Resources, Inc.), Employment Agreement (Minerco Resources, Inc.), Employment Agreement (Minerco Resources, Inc.)
Effects of Termination for Cause. In the event this Agreement is terminated for Cause, all of the Company’s obligations under this agreement Agreement by the Company shall cease as of the effective receipt date in which the Employee’s receives of the Notice of TerminationTermination by Employee. The Company shall pay the Fixed Annual Compensation up to the date of termination, and have no further obligations to Employee under this Agreement. Additionally, in the event this Agreement is terminated for Cause, the Employee is prohibited from taking Employment employment with a direct or indirect competitor of the Company for a period of two years from three year after the date of terminationTermination. The Company may also pursue damages and injunctive relief from Employee as compensation for its damages.
Appears in 3 contracts
Samples: Executive Employment Agreement (Xumanii, Inc.), Executive Employment Agreement (Xumanii, Inc.), Executive Employment Agreement (Xumanii, Inc.)
Effects of Termination for Cause. In the event this Agreement is terminated for Cause, all of the Company’s obligations under this agreement Agreement shall cease as of the date in which the Employee’s Employee receives the Notice of Termination. The Company shall pay the Fixed Annual Compensation up to the date of termination, and have no further obligations to Employee under this Agreement. Additionally, in the event this Agreement is terminated for Cause, the Employee is prohibited from taking Employment employment with a direct competitor of the Company for a period of two years from the date of termination. The Company may also pursue damages and injunctive relief from Employee as compensation for its damages.
Appears in 1 contract
Samples: Employment Agreement (Alternative Energy Development Corp)
