Common use of Garden Leave Clause in Contracts

Garden Leave. Following the provision of a Notice of Termination either by the Company or by the Executive, the Company may direct, in its sole and exclusive discretion, that the Executive perform no duties, exercise no powers and resign from any office held in connection with his employment with the Company or its Affiliates; provided, however, that, following any such direction, the Executive will continue to be required to comply with his other obligations under this Agreement (and will continue to have a duty of loyalty to the Company as an employee) through the end of the Employment Period.

Appears in 12 contracts

Samples: Employment Agreement, Employment Agreement, Employment Agreement

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Garden Leave. Following In the provision event of a Notice of Termination either termination by the Company Executive with or by the Executivewithout Good Reason, the Company may direct, in its sole elect to relieve Executive of any and exclusive discretion, that the Executive perform no duties, exercise no powers and resign from any office held in connection with his employment with the Company or its Affiliates; provided, however, that, following any such direction, the Executive will continue to be required to comply with his other obligations all duties under this Agreement (and will continue deny Executive access to have a duty Company property so long as Company makes any and all payments otherwise due under the Agreement during the Notice of loyalty Termination period. The Company may elect to place Executive on Garden Leave at any time during the remainder of Executive’s employment identified in the Notice of Termination. Such leave shall not prejudice either Company as an employee) through the end of the Employment Periodor Executive to any other rights or payments due under this Agreement.

Appears in 4 contracts

Samples: Chief Operating Officer Employment Agreement (Deep Down, Inc.), Chief Financial Officer Employment Agreement (Deep Down, Inc.), Employment Agreement (Deep Down, Inc.)

Garden Leave. Following the provision of a Notice of Termination either by the Company or by the Executive, the Company may direct, in its sole and exclusive discretion, that the Executive perform no duties, exercise no powers and resign from any office held in connection with his employment with the Company or its AffiliatesSubsidiaries; provided, however, that, following any such direction, the Executive will continue to be required to comply with his other obligations under this Agreement (and will continue to have a duty of loyalty to the Company as an employee) through the end of the Employment Period.

Appears in 3 contracts

Samples: Employment Agreement (Validus Holdings LTD), Employment Agreement (Validus Holdings LTD), Employment Agreement (Validus Holdings LTD)

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Garden Leave. Following the provision of a Notice of Termination either by the Company or by the ExecutiveEmployee, the Company may direct, in its sole and exclusive discretion, that the Executive Employee perform no duties, exercise no powers and resign from any office held in connection with his employment with the Company or its Affiliates; provided, however, that, following any such direction, the Executive Employee will continue to be required to comply with his other obligations under this Agreement (and will continue to have a duty of loyalty to the Company as an employee) through the end of the Employment Period.

Appears in 1 contract

Samples: Employment Agreement (Validus Holdings LTD)

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