Resignation Consideration Sample Clauses

Resignation Consideration. In exchange for, and in reliance on, the promises and covenants Xxxxxxxxx makes in this Agreement, the Company covenants and agrees to pay or provide Xxxxxxxxx with the following resignation compensation (the “Resignation Benefits”):
Sample 1
AutoNDA by SimpleDocs
Resignation Consideration. Employee irrevocably resigns and retiresfrom employment with the Company (and will cease to serve the Company and its affiliates in all capacities) as of December 31, 2011. On account of his retirement and in consideration for and contingent upon Employee’s execution of (and compliance with) this Agreement and his timely execution and non-revocation of the release described in paragraph 7 hereof, the Company will make a one-time special payment to Employee of $300,000, less applicable tax withholding, on October 15, 2013.
Sample 1Sample 2
Resignation Consideration. As consideration for Employee’s agreements and releases set forth herein, and provided that Employee executes and delivers this Agreement and the release becomes effective and irrevocable following the expiration of the Revocation Period set forth below in Section 2.2, and Employee remains in compliance with Employee’s obligations under this Agreement, then:
Sample 1
Resignation Consideration. As consideration for Employee’s agreements and releases set forth herein, and provided that Employee executes and delivers this Agreement (without revoking same), executes and delivers the Signature to Update Release Provision appearing after the signature page (without revoking the same) on or within seven (7) days after the Resignation Date, and Employee remains in compliance with Employee’s obligations under this Agreement, then:
Sample 1
Resignation Consideration. Xx. Xxxxx hereby resigns as a member of the Board of Directors (the “Board”) and as President and from any and all other executive and employment capacities in which Xx. Xxxxx provided services to the Company and/or the Board, and hereby relinquishes in full any and all authority thereto, each as of the date hereof. In consideration for the covenants made herein, the Company hereby agrees to deliver to Xx. Xxxxx (i) three hundred fifty thousand (350,000) shares of Company common stock (the “Separation Shares”) on the first business day of 2012; (ii) fifty thousand (50,000) shares on the first business day following closing of a Company financing with net proceeds to the Company of greater than ten million U.S. Dollars ($10,000,000) (the “Bonus Shares” and referred to together with the Separation Shares as the “Shares”); (iii) a cash payment of Twenty Five Thousand Dollars ($25,000) payable on or before December 1, 2011; and (iv) cash payments of $5,000 per month for consulting services to be rendered to the Company by Xxxxx for a period of three months, commencing on December 1, 2011 (the “Transition Period Consulting Services”). All of the Shares shall remain restricted and not eligible for transfer, sale or public trading until the earlier of (x) 180 days after declaration of effectiveness by the U.S. Securities & Exchange Commission of a registration statement for an underwritten public offering of Company securities in amount of not less than forty million dollars ($40,000,000) and (y) December 31, 2013, as to which the certificate representing such Shares shall contain a restricted transfer legend to such effect.
Sample 1
Resignation Consideration. In consideration of Xxxxx’ service to the Company over more than twelve years and his role in the Company’s growth over that period, the Company hereby agrees that, subject to appropriate withholding, as provided below, on the Effective Date it will pay Xxxxx $1,900,000 in cash, provided that on or immediately prior to the date on which such payment is to be made to Xxxxx or, if earlier, the date on which an amount is required to be included in the income of Xxxxx as a result of such payments, Xxxxx shall be required to pay to the Company in cash the amount which the Company reasonably determines to be necessary in order for the Company to comply with applicable federal or state tax withholding requirements and the collection of employment taxes.
Sample 1
Resignation Consideration. (a) Subject to Executive’s tender of his resignation as provided in Section 1, on the Resignation Date, to the extent it has not previously done so, the Company shall pay Executive all accrued and unpaid salary, paid time off, and any other amounts owed or would be owed in the ordinary course due him through the Resignation Date and shall reimburse Executive for unreimbursed business expenses incurred by Executive to the extent they are valid and reimbursable under the Company’s policies. In addition to the payment of such salary, paid time off, and reimbursement of expenses, subject to the terms and provisions of this Agreement, on the Resignation Date the Company shall pay Executive $204,511, which amount is equal to the “Retention Bonus” that would otherwise be payable to Executive under the CIC Agreement, prorated through December 31, 2023 (the “Prorated Retention Bonus”). Subject to the terms and provisions of this Agreement, on the Resignation Date the Company also shall pay Executive three months’ base salary, in the amount of $62,500, and award to Executive under the Sigma Additive Solutions, Inc. 2023 Equity Incentive Plan (the “2023 Plan”) 31,250 shares of “Restricted Stock” or “Restricted Stock Units” (as such terms are defined in the 2023 Plan) or “Stock Options” to purchase up to 31,250 shares of common stock of the Company, as determined by the Administrator of the 2023 Plan (in each case, the “Equity Award”), as severance (the “Severance”). Notwithstanding the foregoing, in the event that the 2023 Plan has not been adopted and implemented by the Company as of the Resignation Date, then the Equity Award shall be issued by the Company to Executive on such later date that the 2023 Plan or a similar equity incentive plan is adopted and implemented by the Company. The parties agree that the Prorated Retention Bonus and the Severance are in lieu of any and all other compensation and benefits payable to Executive under the CIC Agreement. The parties agree that the provisions of this Section 2(a) shall have no force or effect if the Acquisition does not occur for any reason; provided, however, that the Company shall nonetheless pay Executive the Prorated Retention Bonus in conjunction with the closing of the Asset Sale.
Sample 1
AutoNDA by SimpleDocs
Resignation Consideration. As consideration for Executive’s agreements and releases set forth herein, and provided that Executive executes and delivers this Agreement and the release becomes effective and irrevocable following the expiration of the Revocation Period set forth below in Section 2.2, and Executive remains in compliance with Executive’s obligations under this Agreement, then the Company shall cause the following to occur:
Sample 1

Related to Resignation Consideration

  • Resignation from the Company for Good Reason Executive may resign Executive’s employment with the Company for Good Reason, as defined below.

  • Resignation Letters Company shall have delivered to Parent written resignations of all officers and directors of the Company effective as of the Effective Time.

  • Resignation from the Company with Good Reason Executive may resign Executive’s employment with the Company with Good Reason, as defined below.

  • Resignation of the Escrow Agent The Escrow Agent is permitted to resign and be discharged from the performance of the Escrow Agent’s duties under this Escrow Agreement at any time by giving thirty (30) calendar days prior written notice to Parent and the Securityholder Representative specifying a date when such resignation will take effect. Upon any such notice of resignation, Parent and the Securityholder Representative jointly shall appoint a successor Escrow Agent under this Escrow Agreement prior to the effective date of such resignation. If Parent and the Securityholder Representative fail to appoint a successor Escrow Agent within such time, the Escrow Agent will be permitted to petition a court of competent jurisdiction to appoint a successor Escrow Agent, and Parent and the Securityholder Representative shall, jointly and severally, pay all costs and expenses (including, without limitation, reasonable attorneys’ fees) related to such petition. The resigning Escrow Agent shall transmit all records pertaining to the Escrow Fund and shall transfer all of the Escrow Fund to the successor Escrow Agent, after making copies of such records as the resigning Escrow Agent deems advisable and after deduction and payment to the resigning Escrow Agent of all fees and expenses (including court costs and reasonable attorneys’ fees) payable to, incurred by, or expected in good faith to be incurred by the resigning Escrow Agent in connection with the performance of the resigning Escrow Agent’s duties and the exercise of the resigning Escrow Agent’s rights under this Escrow Agreement. After any resigning Escrow Agent’s resignation, the provisions of this Escrow Agreement will inure to such resigning Escrow Agent’s benefit as to any actions taken or omitted to be taken by such resigning Escrow Agent while such resigning Escrow Agent was serving as the Escrow Agent under this Escrow Agreement.

  • Resignation from All Positions Upon the termination or resignation of the Executive’s employment with the Company for any reason, the Executive shall be deemed to have resigned, as of the date of such termination or resignation, from and with respect to all positions the Executive then holds as an officer, director, employee and member of the Board of Directors (and any committee thereof) of the Company and any of its Affiliates.

  • Resignation from the Company without Good Reason Executive may resign Executive’s employment with the Company for any reason other than Good Reason or for no reason.

  • Resignation from Positions Upon termination of the Executive’s employment with the Company for any reason, the Executive shall, as may be requested by the Company, resign from any position he then holds as an officer, director or fiduciary of the Company or any Company-related entity. In furtherance of the foregoing, the Executive shall execute and deliver to the Company any letters, documents and other instruments necessary or appropriate to effect such resignation.

  • Resignation from Board of Directors If the Executive is a director of the Post-Transaction Corporation or any of its Affiliates and his status as an officer and employee is terminated for any reason other than death, the Executive will, if requested by the Post-Transaction Corporation, immediately resign as a director of the Post-Transaction Corporation and its Affiliates. If such resignation is not received within 20 business days after the Executive actually receives written notice from the Post-Transaction Corporation requesting the resignation, the Executive will forfeit any right to receive any payments pursuant to this Agreement.

  • Resignation Consolidation or Merger of Warrant Agent (a) The Warrant Agent, or any successor, may resign its duties and be discharged from all further duties and liabilities hereunder after giving sixty (60) days notice in writing to the Company, except that shorter notice may be given if the Company, in writing, accepts such shorter notice as sufficient. If the office of Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor Warrant Agent in place of the Warrant Agent.

Time is Money Join Law Insider Premium to draft better contracts faster.