Executive’s Employment Clause Samples

Executive’s Employment. Nothing contained in this Agreement, and no action of the Company, the Committee or the Board with respect hereto, will confer or be construed to confer on the Executive any right to continue in the employ of the Company or any of its Affiliates or interfere in any way with the right of the Company or any employing Affiliate to terminate the Executive's employment at any time, with or without cause, subject to the provisions of any employment agreement between the Executive and the Company or any employing Affiliate.

Executive’s Employment. Nothing in this Agreement shall interfere ---------------------- with or limit in any way the right of the Company or any affiliate to terminate the Executive's employment at any time, nor confer upon the Executive any right to continue in the employ of the Company for any given period or upon any specific terms or conditions.

Executive’s Employment. Nothing in this Agreement shall confer upon Executive any right to continue in the employ of the Company or any of its subsidiaries or interfere with the right of the Company or its subsidiaries, as the case may be, to terminate Executive’s employment or to increase or decrease Executive’s compensation at any time.

Executive’s Employment. With Company Throughout the Term, Executive shall be employed as Vice President of Company or such other entity as shall then be the principal successor to the business, assets and properties of Company and shall continue to have similar or greater responsibility and authority in such position as he had immediately prior to the Effective Date. During the term: (a) Executive shall devote his full business time and efforts to the business and affairs of Company or the successor to Company by which Executive is then employed pursuant to this Agreement; provided, however, that Executive shall not be precluded from serving as a director or member of a committee or board of any other entity which involves no conflict of interest with Company or its successor. (b) Executive shall have duties, responsibilities and authority consistent with the position held by Executive as of the date hereof. (c) The business, assets and properties of Company or its successor, by whom Executive is employed pursuant to this Agreement, as well as the support services and facilities available to Executive, shall not differ materially from those of Company as existent one (1) year prior to the Effective Date.

Executive’s Employment. The Company hereby employs Executive and Executive hereby accepts employment by the Company upon the terms and conditions hereinafter set forth.

Executive’s Employment. Neither the Grant of the Bonus Award nor any term or condition contained in this Agreement nor the existence of or potential for profit in the Bonus Award shall obligate LHC or any of its Affiliate or Subsidiary to employ or engage the Executive in any capacity whatsoever or prohibit or restrict LHC (or any such Affiliate or Subsidiary) from terminating the employment of the Executive at any time and for any reason whatsoever, with or without cause, and the loss of existing or potential profit in the Bonus Award shall not constitute an element of damages in the event the Executive is no longer employed or engaged by LHC or an Affiliate or a Subsidiary thereof, even if such termination is in violation of an obligation of LHC or an Affiliate or a Subsidiary of LHC to the Executive by contract or otherwise, except to the extent any such contract may expressly provide otherwise.

Executive’s Employment. With Company Throughout the Term, Executive shall be employed as President and CEO of the Company or such other entity as shall then be the principal successor to the business, assets and properties of Company and effective as of September 1, 1997, as Vice President of SIGCORP and shall continue to have similar or greater responsibility and authority in such position as he had immediately prior to the Effective Date. During the term: (a) Executive shall devote his full business time and efforts to the business and affairs of Company or the successor to Company by which Executive is then employed pursuant to this Agreement; provided, however, that Executive shall not be precluded from serving as a director or member of a committee or board of any other entity which involves no conflict of interest with Company or its successor. (b) Executive shall have duties, responsibilities and authority consistent with the position held by Executive as of the date hereof. (c) The business, assets and properties of Company or its successor, by whom Executive is employed pursuant to this Agreement, as well as the support services and facilities available to Executive, shall not differ materially from those of Company as existent one (1) year prior to the Effective Date.

Executive’s Employment. Nothing in this Agreement shall interfere with or limit in any way the right of AMSG to terminate the Executive's employment at any time, nor confer upon the Executive any right to continue in the employ of the AMSG for any given period or upon any specific terms or conditions.

Executive’s Employment. In accordance with Section 6(b) of the Employment Agreement, the Executive hereby voluntarily terminates his employment by, and hereby voluntarily resigns from all officer and other positions held by him at, Permanent and the Bank, effective as of the Effective Time, and the parties hereto hereby waive the ninety (90) day notice requirement of Section 6(b) of the Employment Agreement and the requirement to obtain an assumption agreement pursuant to Section 12 of the Employment Agreement. Accordingly, at and following the Effective Time, no party to that certain Employment Agreement (the "Employment Agreement") dated October 6, 1998 by and among Permanent, the Bank and the Executive shall have any liability or obligation to any other party thereto under the Employment Agreement, except that the Executive's covenants and obligations pursuant to Section 10 of the Employment Agreement shall remain in full force and effect and continue to be binding upon the Executive in accordance with the provisions thereof and except with respect to any compensation properly due and payable to the Executive under the Employment Agreement at the Effective Time which remains unpaid at the Effective Time. The Executive hereby understands, acknowledges and agrees that, from and following the Effective Time, (a) he shall not be entitled to receive or participate in any salary, bonus, compensation or other payments or any employee benefits (including, without limitation, any retirement, pension, profit-sharing and insurance) of or from the Company, Old National Bank, Permanent, the Bank or Merger Corporation, whether pursuant to the Employment Agreement or otherwise, except for (i) the Consulting Fee provided herein, (ii) all fully vested retirement, pension and profit-sharing benefits properly payable to the Executive, and (iii) any insurance coverage under applicable law or under the retiree welfare benefits, if any, made available by the Company to its retirees or former directors, it being understood and agreed that all premiums and costs for such insurance coverage shall be the sole responsibility of the Executive; and (b) he hereby waives and releases any and all rights and claims to the items referenced in Section 2(a) hereof. The Executive hereby expressly understands, acknowledges and agrees that, on and after the Effective Time, he shall not be entitled to, and the Executive hereby expressly waives and releases all rights and claims to, any salary, compensation, payment ...