PREMATURE TERMINATION WITHOUT CAUSE AND CONSTRUCTIVE TERMINATION Sample Clauses

PREMATURE TERMINATION WITHOUT CAUSE AND CONSTRUCTIVE TERMINATION. 1. In the event of the termination of the Employee's employment under this Agreement prior to the last day of the then current term, either (A) by the Employer for any reason other than a termination in accordance with the provisions of paragraph 3(d), 3(e) or 3(f) or (B) by the Employee by written notice to the Employer given within thirty (30) days of Constructive Discharge (as hereinafter defined) effective as of thirty (30) days after such notice, then the Employer shall: (A) pay the Employee the greater of (x) the Base Salary the Employee would have received had he remained employed through the end of the then current term of the Agreement and (y) six (6) months of Base Salary; (B) pay the Employee, if such termination occurs in the 1997 calendar year, the Base Bonus; (C) continue to provide coverage for the Employee under the medical benefit program maintained by the Employer through the remainder of the term of the Agreement (if permitted to do so under such program), and (D) pay all expenses related to the relocation of Employee and Employee's family to the U.S. location of Employee's choice, including packing and shipping Employee's household effects, furniture and personal belongings. The benefits provided in paragraphs 2(f), 2(g), 2(m) and 2(n) shall continue for 3 months or, if Employee's children are attending school in Bermuda at the time of such termination, the end of the academic school year, whichever is longer; provided, however, that such continuation shall not include any expenses for temporary housing or accommodation in the U.S. The benefits described in paragraphs 2(c) and 2(i) shall not continue following termination under this paragraph 3(c).
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PREMATURE TERMINATION WITHOUT CAUSE AND CONSTRUCTIVE TERMINATION. 1. In the event of the termination of the Employee's employment under this Agreement prior to the last day of the then current term, either (A) by the Employer for any reason other than a termination in accordance with the provisions of Subsection IIID, IIIE or IIIF or (B) by the Employee by written notice to the Employer given within thirty (30) days of Constructive Discharge (as hereinafter defined) effective as of thirty (30) days after such notice, then the Employer shall: (A) pay the Employee the greater of (x) the Base Salary the Employee would have received had he remained employed through the end of the then current term of the Agreement and (y) six (6) months of Base Salary; and (B) continue to provide coverage for the Employee under the medical benefit program maintained by the Employer through the remainder of the term of the Agreement (if permitted to do so under such program).
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Related to PREMATURE TERMINATION WITHOUT CAUSE AND CONSTRUCTIVE TERMINATION

  • Termination Without Cause or Constructive Termination Without Cause In the event the Executive's employment is terminated without Cause, other than due to disability or death, or in the event there is a Constructive Termination Without Cause, the Executive shall be entitled to:

  • Constructive Termination Without Cause In the event that: (i) a Constructive Termination Without Cause occurs and (ii) Section 8(F) (change in control) does not apply, then the Executive shall have the same entitlements as provided under Section 8(D) for a termination by the Company without Cause.

  • Involuntary Termination Without Cause and Voluntary Termination with Good Reason With written notice to the Executive at least thirty (30) days in advance, the Bank may terminate the Executive’s employment without Cause. Termination shall take effect at the end of the notice period. With advance written notice to the Bank as provided in clause (y), the Executive may terminate employment for Good Reason. If the Executive’s employment terminates involuntarily without Cause or voluntarily but with Good Reason, the Executive shall be entitled to the benefits specified in Article 4 of this Agreement. For purposes of this Agreement, a voluntary termination by the Executive shall be considered a voluntary termination with Good Reason if the conditions stated in both clauses (x) and (y) of this Section 3.4 are satisfied:

  • Termination Without Cause; Termination for Good Reason If the Company shall terminate the Executive’s employment, other than for Cause, or the Executive shall terminate his employment for Good Reason, then;

  • Termination Without Cause or Termination for Good Reason (a) The Company may terminate the Executive's employment hereunder without Cause, and the Executive shall be permitted to terminate his employment hereunder for Good Reason (as hereinafter defined). If the Company terminates the Executive's employment hereunder without Cause, other than due to death or Disability, or if the Employee effects a termination for Good Reason, the Executive shall be entitled to receive all the benefits provided for under Section 3.6 of this Agreement.

  • Involuntary Termination Without Cause In the event of the Participant’s involuntary Termination by the Company without Cause, the vested portion of the Option shall remain exercisable until the earlier of (i) ninety (90) days from the date of such Termination, and (ii) the expiration of the stated term of the Option pursuant to Section 3(d) hereof.

  • Constructive Termination “Constructive Termination” shall be deemed to occur if (A) there is a material reduction or change in job duties, responsibilities and requirements inconsistent with Executive’s position with the Company and prior duties, responsibilities and requirements, provided that neither a mere change in title alone nor reassignment to a position that is substantially similar to the position held prior to the change in terms of job duties, responsibilities or requirements shall constitute a material reduction in job responsibilities; or (B) there is a reduction in Executive’s then-current base salary by at least twenty percent (20%), provided that an across-the-board reduction in the salary level of all other senior executives by the same percentage amount as part of a general salary level reduction shall not constitute such a salary reduction; or (C) Executive refuses to relocate to a facility or location more than 50 miles from the Company’s current location; provided, however, that in each case above, Executive must first provide notice of the existence of the circumstances giving rise to a Constructive Termination within ninety (90) days of the initial existence of such circumstances and the Company must be provided with a period of thirty (30) days from the date of receipt of such notice to cure the circumstances giving rise to a Constructive Termination; provided further that the Company may notify Executive at any time prior to expiration of the cure period that it will not cure the circumstances, in which case the cure period shall end immediately upon such notification.

  • Termination without Cause or Resignation for Good Reason in Connection with a Change of Control If the Company or its Affiliates terminate Executive’s employment with the Company or its Affiliates, respectively, without Cause or Executive resigns from such employment for Good Reason within twelve (12) months following a Change of Control, and Executive signs and does not revoke a separation agreement and release of claims with the Company (in a form acceptable to the Company), then Executive will receive the following severance from the Company:

  • Termination without Cause or Resignation for Good Reason in Connection with a Change in Control If the Company terminates Executive’s employment with the Company without Cause (excluding death or Disability) or if Executive resigns from his or her employment for Good Reason, and, in each case, such termination date occurs during the Change in Control Period, then Executive will receive the Accrued Benefits and, subject to Sections 5 through 7, below, Executive will be eligible to receive the following:

  • Termination Without Cause The Company may terminate the Executive’s employment hereunder at any time without Cause. Any termination by the Company of the Executive’s employment under this Agreement which does not constitute a termination for Cause under Section 3(c) and does not result from the death or disability of the Executive under Section 3(a) or (b) shall be deemed a termination without Cause.

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