Common use of Remedies for the Executive Clause in Contracts

Remedies for the Executive. (a) The termination of this Agreement by the Executive for Good Reason shall not be deemed to be a waiver by the Executive of any breach by the Company of this Agreement or any other obligation owed the Executive, and, notwithstanding such a termination, the Company shall be liable for all damages attributable to such a breach. (b) In the event that the Executive is terminated for Cause and it is ultimately determined that the Company lacked Cause, (i) the termination shall be treated as a termination other than for Cause; (ii) the Executive shall have the right to seek remedy for a breach of this Agreement by the Company, including, but not limited to, any other such damages as may be suffered and/or incurred by the Executive, the Executive's costs incurred during the dispute and reasonable attorneys' fees in connection with such dispute; and (iii) the Executive shall receive all Severance Benefits.

Appears in 5 contracts

Samples: Employment Agreement (Sunset Financial Resources Inc), Employment Agreement (Sunset Financial Resources Inc), Employment Agreement (Sunset Financial Resources Inc)

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Remedies for the Executive. (a) The termination of this Agreement by the Executive for Good Reason shall not be deemed to be a waiver by the Executive of any breach by the Company of this Agreement or any other obligation owed the Executive, and, notwithstanding such a termination, the Company shall be liable for all damages attributable to such a breach. (b) In the event that the Executive is terminated for Cause and it is ultimately determined that the Company lacked Cause, (i) the termination shall be treated as a termination other than for Cause; (ii) the Executive shall have the right to seek remedy for a breach of this Agreement by the Company, including, but not limited to, any other such damages as may be suffered and/or incurred by the Executive, the Executive's ’s costs incurred during the dispute and reasonable attorneys' ’ fees in connection with such dispute; and (iii) the Executive shall receive all Severance Benefits.

Appears in 2 contracts

Samples: Employment Agreement (Sunset Financial Resources Inc), Employment Agreement (Sunset Financial Resources Inc)

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