Indebtedness of Employee. If, during the course of his employment, Employee becomes indebted to the Company for any reason, the Company shall, if it so elects, have the right to set-off and to collect any sums due it from the Employee out of any amounts which it may owe to the Employee for unpaid compensation. In the event that this Agreement terminates for any reason, all sums owed by the Employee to the Company shall become immediately due and payable.
Appears in 4 contracts
Samples: Employment Agreement (V Gpo Inc), Employment Agreement (Split Second Trading Inc), Employment Agreement (Split Second Trading Inc)
Indebtedness of Employee. If, during the course of his employment, Employee becomes become indebted to the Company for any reason, the Company shall, if it so elects, have the right to set-off and to collect any sums due it from the Employee out of any amounts which it may owe to the Employee for unpaid compensation. In the event that this Agreement terminates for any reason, all sums owed by the Employee to the Company shall become immediately due and payable.
Appears in 2 contracts
Samples: Employment Agreement (Teltronics Inc), Employment Agreement (Teltronics Inc)
Indebtedness of Employee. (a) If, during the course of his employmentemployment hereunder, Employee becomes indebted to the Company Employer for any reason, Employer shall have the Company shallright, if it so elects, have the right to set-set off and to collect any sums due to it from the Employee out of any amounts amounts, including compensation hereunder, which it may owe to the Employee for unpaid compensation. In the event that this Agreement terminates for any reason, all sums owed by the Employee to the Company shall become immediately due and payableEmployee.
Appears in 2 contracts
Samples: Employment Agreement (IMAG Group, Inc.), Employment Agreement (IMAG Group, Inc.)
Indebtedness of Employee. If, during the course of his employment, Employee becomes indebted to the Company for any reason, the Company shall, if it so elects, have the right to set-off and to collect any sums due it from the Employee out of any amounts which it may owe to the Employee for unpaid compensation. In the event that this Agreement terminates terminated for any reason, all sums owed by the Employee to the Company shall become immediately due and payable.
Appears in 1 contract
Samples: Employment Agreement (Swifty Carwash & Quik Lube Inc)
Indebtedness of Employee. If, during the course of his employment, Employee becomes indebted to the Company for any reason, the Company shall, if it so elects, have the right to set-off and to collect any sums due it from the Employee out of any amounts which it may owe to the Employee for unpaid compensation. , In the event that this Agreement terminates for any reason, all sums owed by the Employee to the Company shall become immediately due and payable.
Appears in 1 contract
