Natural Termination Sample Clauses
Natural Termination. There are two ways this parking agreement may terminate naturally. If Xxxxxx and Lessee have agreed this agreement should terminate upon a certain date, then the first checkbox statement must be selected and the end date recorded. Otherwise, if this agreement is a monthly arrangement that may be terminated with a number of days’ advance notice by either party then choose the second statement and produce this number of days. Section III. Rent
Natural Termination. In the event that Executive’s employment by the Company pursuant to this Agreement terminates at the scheduled expiration of the Term because of a non-renewal of the Term as a result of a decision by the Company not to renew as contemplated by and in accordance with the last sentence of Section 1 (and not theretofore under Section 4.1, 4.2 or 4.3),
(i) Executive shall (subject, in the case of the following clauses (C), (D) and (F), to Executive’s delivery of a general release reasonably acceptable to the Company which shall have become irrevocable) be entitled to:
(A) any accrued but unpaid Annual Salary and PTO due to Executive as of the termination of employment;
(B) reimbursement under this Agreement for expenses incurred but unpaid prior to the termination of employment;
(C) a cash payment equal to 200% of Executive’s Annual Salary in the case of expiration of the initial Term, or 100% of Executive’s Annual Salary in the case of expiration of a renewal of the Term, payable in equal installments over a 12–month period in accordance with the Company’s usual and customary payroll practices, commencing on the first payday following termination of this Agreement; provided, however, that no payments shall be made less than six months after termination to the extent required to comply with Section 409A of the Code (in which case any payments deferred under this provision shall be paid upon the six-month anniversary of termination);
(D) any payment due under Section 5 hereof;
(E) for a period of one year after termination, such health benefits under the Company’s health plans and programs applicable to senior executives of the Company generally (if and as in effect from time to time) as Executive would have received under this Agreement (and at such costs to Executive as would have applied in the absence of such termination upon expiration); provided, however, that the Company shall in no event be required to provide any benefits otherwise required by this clause (E) after such time as Executive becomes entitled to receive benefits of the same type from another employer or recipient of Executive’s services (such entitlement being determined without regard to any individual waivers or other similar arrangements);
(F) a prorated Annual Bonus at the “target” level for the Contract Year or partial Contract Year in which Executive’s employment hereunder terminates; and
(G) only in the case of expiration of the initial Term, elimination of any exclusively time-based...
Natural Termination. In the event that Executive’s employment by TSY pursuant to this Agreement naturally terminates at the end of any term due to non-renewal by TSY (a “Natural Termination”), all compensation or benefits to which Executive may otherwise be entitled to shall cease on the Termination Date, except for (a) any accrued but unpaid Base Salary due Executive as of the Termination Date, and (b) reimbursements for appropriately submitted expenses which have been incurred, but have not been paid by TSY, as of the Termination Date; provided, however, that at the election of TSY in its sole and absolute discretion and upon written notice to the Executive on or prior to the Termination Date, TSY shall pay the Executive a cash payment equal to one (1) times the Executive’s Base Salary which is in effect on the Termination Date, which cash payment shall be made payable over a twelve (12) month period in equal installments in accordance with TSY’s usual and customary payroll practices, commencing on the first payday following the Termination Date (the “Optional Severance Payment”); provided, further, that if Executive is a "key employee" (within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended), payment shall not commence until six (6) months following Executive's “separation from service” (within the meaning of Section 409A) to the extent necessary to avoid the imposition of the additional tax under Section 409A (in which such case the first payment shall include all installment payments of the Severance Payment that otherwise would have been made during such six (6) month period).
Natural Termination. Unless renewed or extended under Section 3.1 above, this Agreement (and all licenses granted under it) shall expire by its terms on December 31, 2007, except that such expiration shall not effect any royalty or other obligation
Natural Termination. Unless otherwise terminated, this Agreement shall terminate December 31, 2024.
Natural Termination. In the event that Executive's employment by the Company pursuant to this Agreement naturally terminates on the Termination Date, all compensation or benefits to which Executive may otherwise be entitled to shall cease on the Termination Date, except for (i) any accrued but unpaid Base Salary due Executive as of the Termination Date, and (ii) reimbursements for appropriately submitted expenses which have been incurred, but have not been paid by the Company, as of the Termination Date; provided, however, that at the election of the Company in its sole and absolute discretion and upon written notice to the Executive on or prior to the Termination Date, the Company shall pay the Executive a cash payment equal to two (2) times the Executive's Base Salary which is in effect on the Termination Date, which cash payment shall be made payable over a twenty-four (24) month period in equal installments in accordance with the Company's usual and customary payroll practices, commencing on the first payday following the Termination Date (the "Optional Severance Pay").
Natural Termination. If this Agreement expires in accordance with Section 12.1 above, the Parties’ respective licenses contained in Section 7.3 shall survive as perpetual and fully paid-up licenses with respect to Know-how only.
Natural Termination. Unless Employee’s employment with the Company ceases due to a termination by the Company without Cause (as defined in the Employment Agreement) or a resignation by Employee for Good Reason (as defined in the Employment Agreement) prior to December 31, 2018, then Employee’s employment with the Company will cease at close of business on December 31, 2018, and Employee will be entitled to, subject to the provisions in Section 5.1. of the Employment Agreement, the payments provided for in Section 5.1 of the Employment Agreement;
Natural Termination. In the event that Executive’s employment by CNLR pursuant to this Agreement naturally terminates on a Termination Date, the Company shall pay the Executive (a) any accrued but unpaid Base Salary and performance bonus for the prior year due Executive as of the Termination Date, (b) reimbursements for appropriately submitted expenses which have been incurred, but have not been paid by CNLR, as of the Termination Date; and (c) a pro-rated performance bonus for the year or partial year in which Executive’s employment hereunder is terminated, determined in accordance with paragraph 2 of Attachment “A”. Provided, however, that at the election of CNLR in its sole and absolute discretion and upon written notice to the Executive on or prior to the Termination Date, CNLR may, in addition to the amounts set forth in subsections (a), (b) and (c) above, pay the Executive an optional cash payment equal to one (1) times the Executive’s Base Salary which is in effect on the Termination Date, which cash payment shall be made payable over a twelve (12) month period in equal installments in accordance with CNLR’s usual and customary payroll practices, commencing on the first payday following the Termination Date (the “Optional Severance Payment”).
Natural Termination. In the event that Executive’s employment by the Company pursuant to this Agreement naturally terminates on the Termination Date, all compensation or benefits to which Executive may otherwise be entitled to shall cease on the Termination Date, except for (i) any accrued but unpaid Base Salary and PTO, if any, due Executive as of the Termination Date, and (ii) reimbursements for appropriately submitted expenses which have been incurred, but have not been paid by the Company, as of the Termination Date; provided, however, that at the election of the Company in its sole and absolute discretion and upon written notice to the Executive on or prior to the Termination Date, the Company shall pay the Executive a cash payment equal to two (2) times the Executive’s Base Salary which is in effect on the Termination Date, which cash payment shall be made payable over a twenty-four (24) month period in equal installments in accordance with the Company’s usual and customary payroll practices, commencing on the first payday following the Termination Date (the “Optional Severance Pay”).