Common use of Employee’s No Cause Termination Clause in Contracts

Employee’s No Cause Termination. In the event you terminate your employment under this Agreement without cause, we will have no further liability or obligations whatsoever to you hereunder, except that you will be entitled to (i) exercise your vested but unexercised stock options, if any, to acquire Company stock upon your compliance with all the terms and conditions required to exercise such options (ii) all salary through the date of termination, (iii) any Bonus attributable to our most recently completed fiscal year to the extent not previously paid (determined in accordance with the Plan, including the exercise of discretion by the committee administering such Plan which may reduce or eliminate such Bonus) and (iv) all other vested benefits; provided, however, that we will be entitled to all of our rights and remedies by reason of such termination, including without limitation, the right to enforce the covenants and agreements contained in Section 8 and our right to recover damages.

Appears in 4 contracts

Samples: Employment Agreement (MGM Mirage), Employment Agreement (MGM Mirage), Employment Agreement (MGM Mirage)

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Employee’s No Cause Termination. In the event you terminate your employment under this Agreement without cause, we will have no further liability or obligations whatsoever to you hereunder, except that you will be entitled to (i) exercise your vested but unexercised stock options, if any, to acquire Company stock upon your compliance with all the terms and conditions required to exercise such options (ii) all salary through the date of termination, (iii) any Bonus attributable to our most recently completed fiscal year to the extent not previously paid (determined in accordance with the Plan, including the exercise of discretion by the committee administering such Plan which may reduce or eliminate such Bonusbonus) and (iv) all other vested benefits; provided, however, that we will be entitled to all of our rights and remedies by reason of such termination, including without limitation, the right to enforce the covenants and agreements contained in Section 8 and our right to recover damages.

Appears in 1 contract

Samples: Employment Agreement (MGM Mirage)

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Employee’s No Cause Termination. In the event you terminate your employment under this Agreement without cause, we will have no further liability or obligations whatsoever to you hereunder, except that you will be entitled to (i) exercise your vested but unexercised stock options, if any, to acquire Company stock stock, SARs or Other Rights upon your compliance with all the terms and conditions required to exercise such options (ii) all salary through the date of termination, (iii) any Bonus attributable to our most recently completed fiscal year to the extent not previously paid (determined in accordance with the Plan, including the exercise of discretion by the committee administering such Plan which may reduce or eliminate such Bonusbonus) and (iv) all other vested benefits; provided, however, that we will be entitled to all of our rights and remedies by reason of such termination, including without limitation, the right to enforce the covenants and agreements contained in Section 8 and our right to recover damages.

Appears in 1 contract

Samples: Employment Agreement (MGM Mirage)

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