Common use of Not for Cause Clause in Contracts

Not for Cause. Employer may terminate the employment of Executive at any time for any reason. However, if such termination of employment does not occur pursuant to Section 2.2 or under the circumstances described in paragraphs (a), (b) or (c)(i) of this Section 2.7, Employer shall remain obligated to Executive for (I) payment of Executive's unpaid Base Salary (as described in Section 2.4) through the then-remaining term of this Agreement pursuant to Section 2.2, (II) any Bonus (as described in Section 2.4) paid on or before Executive's last day worked and (III) payment for any vacation accrued but unused as of Executive's last day worked.

Appears in 2 contracts

Samples: Employment Agreement (Elder Beerman Stores Corp), Employment Agreement (Elder Beerman Stores Corp)

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Not for Cause. Employer may terminate the employment of Executive at any time for any reason. However, if such termination of employment does not occur pursuant to Section 2.2 or under the circumstances described in paragraphs (a), (b) or (c)(i) of this Section 2.7, Employer shall remain obligated to Executive for (I) payment of Executive's unpaid Base Salary (as described in Section 2.4) through the then-remaining term of this Agreement pursuant to Section 2.2, (II) any Bonus (as described in Section 2.4) paid on or before Executive's last day worked and (III) payment for any vacation accrued but unused as of before Executive's last day worked.

Appears in 2 contracts

Samples: Employment Agreement (Elder Beerman Stores Corp), Employment Agreement (Elder Beerman Stores Corp)

Not for Cause. Employer may terminate the employment of Executive at any time for any reason. However, if such termination of employment does not occur pursuant to Section 2.2 or under the circumstances described in paragraphs (a), (b) or (c)(i) of this Section 2.7, Employer shall remain obligated to Executive for (I) payment of Executive's unpaid Base Salary (as described in Section 2.4) through the then-remaining term of this Agreement pursuant to Section 2.2, (II) any Bonus (as described in Section 2.4) paid on or before Executive's last day worked and (III) payment for any vacation accrued but unused as of Executive's last day worked.

Appears in 1 contract

Samples: Employment Agreement (Elder Beerman Stores Corp)

Not for Cause. Employer may terminate the employment of Executive at any time for any reason. However, if such termination of employment does not occur pursuant to Section 2.2 or under the circumstances described in paragraphs (a), (b) or (c)(i) of this Section 2.7, Employer shall remain obligated to Executive for (IA) payment of Executive's unpaid Base Salary (as described in Section 2.4) through the then-remaining term of this Agreement pursuant to Section 2.2, (IIB) any Bonus Incentive Compensation (as described in Section 2.4) paid earned on or before Executive's last day worked and (IIIC) payment for any vacation accrued but unused as of Executive's last day worked.

Appears in 1 contract

Samples: Employment Agreement (Elder Beerman Stores Corp)

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Not for Cause. Employer may terminate the employment of Executive at any time for any reason. However, if such termination of employment does not occur pursuant to Section 2.2 or under the circumstances described in paragraphs (a), (b) or (c)(i) of this Section 2.7, Employer shall remain obligated to Executive for (IA) payment of Executive's unpaid Base Salary (as described in Section 2.4) through the then-remaining term of this Agreement pursuant to Section 2.2, (IIB) any Bonus Incentive Compensation (as described in Section 2.4) paid earned on or before Executive's last day worked and (IIIC) payment for any vacation accrued but unused as of Executive's last day worked.

Appears in 1 contract

Samples: Employment Agreement (Elder Beerman Stores Corp)

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