Remedies for Termination Sample Clauses

Remedies for Termination. Expiration or termination of this Agreement by either Party shall not affect any claim, demand, liability or right of a Party arising pursuant to this Agreement prior to such termination or expiration hereof.

Remedies for Termination. (1) Upon termination of the Executive's employment under this Agreement pursuant to subsections a. or g. of this Section 7, the Executive shall receive until the Expiration Date: (a) 200% of the salary set forth in Section 4, payment of which shall be at the time provided for in this Agreement as if the Executive's employment under this Agreement has not terminated. (b) annually, an amount equal to the average of the three highest annual incentive compensation payments made to Executive by the Bank prior to the termination pursuant to subsection a. or the event given Executive the right to terminate his employment under subsection g.; and (c) medical care, pension and similar benefits, at no cost to Executive, substantially comparable to those furnished to Executive by the Bank immediately prior to termination of employment hereunder. (d) upon termination without Cause or termination for "good reason" following a "change in control," the Bank shall determine the aggregate present value (pursuant to ss.1274(b)(2) of the Internal Revenue Code) of all amounts payable hereunder, and of all of other amounts payable to the Executive upon or by reason of his termination which are determined in good faith by the Bank to be "parachute payments," (as defined in ss.280G(b)(2) of the Code and the regulations promulgated thereunder) made pursuant to agreements or plans which are subject to Section 280G. The Bank's determination of present value and of other amounts constituting "parachute payments" is binding; provided that if Executive obtains an opinion of counsel satisfactory to the Bank or an Internal Revenue Service ruling to the effect that the method of determining present value was improper or that specified payments did not constitute "parachute payments," calculations will be made in accordance with such opinion or filing. In the event that aggregate present value of all benefits under this Agreement and other "parachute payments" is equal to or in excess of 300% of the Executive's "base amount" as defined in Section 280G(b)(3)(A) and regulations thereunder, the Executive waives the right to "parachute payments" sufficient to reduce the present value of all such payments below 300% of the "base amount." The Executive shall have the right to designate those benefits which shall be waived or reduced in order to comply with this provision, but failing designation by the Executive, the Bank may designate those benefits which must be waived or reduced. If it is es...

Remedies for Termination. Notwithstanding any other provision in the Agreement, each party reserves the right to terminate this Agreement for any reason by written notice. Such termination shall be effective 90 days after notice is given. The same shall apply if either party desires to terminate this agreement as to one or more of the fields and facilities listed in Section 1 above without terminating as to the others.

Remedies for Termination. Upon termination of the Executive’s employment under this Agreement pursuant to subsections (a) or (f) of this Section 7, any options granted to Executive pursuant to Section 5 hereof which are not then vested shall become vested as of the effective date of such termination, and the Executive shall be entitled to receive the aggregate of: (i) the balance of the annual base salary set forth in Section 4, as the same may have been increased from time to time, until the current Expiration Date as if the Executive’s employment under this Agreement has not terminated; plus (ii) the annualized amount equal to the average of the three highest annual incentive compensation payments made to Executive by the Bank prior to the termination pro rated over the remaining term of the Agreement until the current Expiration Date. (iii) Notwithstanding the foregoing at Sections 7(h)(i) and (ii), in the event of termination of the Executive’s employment in accordance with Section 7(f)(v),(change in control), the Executive shall be entitled to receive an amount equal to 300% of the annual base salary set forth in Section 4, as the same may have been increased from time to time, plus 300% of an amount equal to the average of the three highest annual incentive compensation payments made to Executive by the Bank prior to the date of such change in control. The foregoing amounts shall be payable in the form of a single lump-sum payment immediately upon the Executive’s termination of employment. Further, for a period of not less than eighteen months following the effective date of such termination of employment, the Bank shall continue to provide the Executive with and pay the applicable premiums for medical and hospital insurance, disability insurance and life insurance benefits for the Executive and his dependents, as were provided and paid for at the time of the termination of his employment with the Bank; provided that, if the Executive shall be eligible for greater benefits in accordance with other provisions of this Agreement or another plan or agreement, then the greater form of benefits shall apply. Further, the Bank shall also sell to the Executive for a purchase price of $1.00 the automobile, if any, used by the Executive while employed by the Bank. The Executive acknowledges that the sale of the automobile to the Executive may generate additional employee compensation to the Executive, and agrees that the Bank may withhold that amount which is necessary for the Bank to f...

Remedies for Termination. In the event that this Agreement is terminated due to the intentional breach of a representation, warranty, covenant or condition by the breaching party, then the non-breaching party shall be entitled to pursue, exercise and enforce any and all remedies, rights, powers and privileges available at law or in equity including the recovery of its actual expenses incurred in the negotiation and execution of this Agreement.

Remedies for Termination. (i) Upon termination of the Executive's employment under this Agreement pursuant to subsection (a) by reason of termination without cause or the Company's not renewing Agreement beyond the end of the Employment Period, the Executive shall receive his (A) base salary; (B) group hospitalization, health care and sick leave plan benefits; and (C) accrued and unused vacation and personal leave, if any, for the greater of (x) the remainder of the term specified in Section 3(a) hereof, or (y) three (3) months. Payment of base salary shall be at the times provided for in this Agreement as if the Executive's employment under this Agreement had not terminated, and such payment shall be in lieu of any payments required to be made under Section 4(a) hereof. 57 (ii) Upon termination of the Executive's employment pursuant to subsection (b) by reason of termination with cause, (A) Executive's rights to compensation under Section 4 including, without limitation, base salary; automobile usage reimbursement; expense reimbursement; and vacation, personal and sick leave shall automatically terminate as of the date of termination except with respect to any earned but unpaid portion of his base salary and/or benefits (including paid vacation accrued but not taken as of the date of termination) up to the date of termination, and (B) options granted pursuant to Section 4(c) hereof will, to the extent not previously exercised by Executive, terminate immediately.

Remedies for Termination. Upon termination of the Executive's employment under this Agreement pursuant to subsections (a) or (f) of this Section 7, any options granted to Executive pursuant to Section 4(c) hereof which are not then vested shall become vested as of the effective date of such termination, and the Executive shall be entitled to receive the discounted present value (using a discount rate of 8% per annum) of the aggregate of:

Remedies for Termination. If Seller terminates this Agreement pursuant to Section 13.1(b) then Seller at its election shall be entitled to (a) specific performance of this Agreement and may petition a court for an injunction ordering same or (b) damages equal to the difference between the Purchase Price provided for herein and the purchase price ultimately 27 28 received by Seller and the other Current Owners and the Joint Owners for the sale of the Assets or the Shares. If Buyer terminates this Agreement pursuant to Section 13.1(c) then Buyer at its election shall be entitled to (a) specific performance of this Agreement and may petition a court for an injunction ordering same or (b) damages equal to Buyer's cost incurred in due diligence and in preparation for the transactions contemplated hereby.

Remedies for Termination. Upon termination of the Executive's employment under this Agreement pursuant to subsection (a) by reason of termination without cause or the Company's not renewing Agreement beyond the end of the Employment Period, or (c) for "

Remedies for Termination. If a Party terminates the Contract pursuant to Section 7.1.1 due to the breach or default of the other Party, the non-defaulting Party may pursue any and all remedies it may have at law, in equity and under this Contract, except to the extent otherwise limited or restricted, as set forth in this Contract or any directive issued by FERC.