Common use of Resignation; Notice Period Clause in Contracts

Resignation; Notice Period. The Employee shall not retire, resign or otherwise terminate his employment, except as provided under Section 4.E (a “Resignation”) with the Company for any reason without first giving thirty (30) days prior written notice of the effective date of his Resignation (the “Required Notice”). Such written notice shall be delivered by hand or email to the Chief Executive Officer. The thirty (30) days between the giving of the Required Notice and the effective date of the Resignation, inclusive, is the “Notice Period.” (i) The Company retains the right to waive the Required Notice in whole or in part, in which case the termination date shall be the date that the Company accepts the Employee’s resignation. (ii) During the Notice Period, the Company may, in its sole discretion, take any one or more of the following actions: (a) require the Employee to perform his normal duties and responsibilities; (b) require the Employee to remain away from the Company’s premises; (c) require the Employee not to perform any duties on behalf of the Company; (d) require the Employee not to contact clients, prospects, or managers of the Company; and/or (e) withdraw any powers vested in, or duties assigned to, the Employee. (iii) The Company will continue to pay the Base Salary during the Notice Period only if the Employee is in compliance with his obligations under this Agreement or otherwise to the Company during the Notice Period. (iv) In the event that the Employee does not provide the Required Notice, the Employee acknowledges and agrees that such failure to provide the Required Notice (a) constitutes a breach of this Agreement, and therefore constitutes a Cause event, and (b) subjects the Company to irreparable harm entitling it to immediate or other equitable relief, including obtaining injunctive relief prohibiting the Employee from commencing new employment or performing services for another employer or entity.

Resignation; Notice Period. The Employee shall not retire, resign or otherwise terminate his or her employment, except as provided under Section 4.E (a “Resignation”) with the Company for any reason without first giving thirty (30) days prior written notice of the effective date of his or her Resignation (the “Required Notice”). Such written notice shall be delivered by hand or email to the Chief Executive Officer. The thirty (30) days between the giving of the Required Notice and the effective date of the Resignation, inclusive, is the “Notice Period.” (i) The Company retains the right to waive the Required Notice in whole or in part, in which case the termination date shall be the date that the Company accepts the Employee’s resignation. (ii) During the Notice Period, the Company may, in its sole discretion, take any one or more of the following actions: (a) require the Employee to perform his or her normal duties and responsibilities; (b) require the Employee to remain away from the Company’s premises; (c) require the Employee not to perform any duties on behalf of the Company; (d) require the Employee not to contact clients, prospects, or managers of the Company; and/or (e) withdraw any powers vested in, or duties assigned to, the Employee. (iii) The Company will continue to pay the Base Salary during the Notice Period only if the Employee is in compliance with his or her obligations under this Agreement or otherwise to the Company during the Notice Period. (iv) In the event that the Employee does not provide the Required Notice, the Employee acknowledges and agrees that such failure to provide the Required Notice (a) constitutes a breach of this Agreement, and therefore constitutes a Cause event, and (b) subjects the Company to irreparable harm entitling it to immediate or other equitable relief, including obtaining injunctive relief prohibiting the Employee from commencing new employment or performing services for another employer or entity.

Resignation; Notice Period. The Employee shall not retire(a) Effective as of September 30, resign or otherwise terminate his employment, except as provided under Section 4.E (a “Resignation”) with the Company for any reason without first giving thirty (30) days prior written notice of the effective date of his Resignation 2016 (the “Required NoticeSeparation Date”), Executive hereby resigns from all positions (as an employee, officer, or otherwise) he holds or has ever held with Eagle International, the Company, Eagle Shipping LLC, Eagle Bulk Europe GmbH, Eagle Bulk Pte. Such written notice Ltd, or any of their respective direct or indirect subsidiaries or affiliates (collectively, the “Eagle Companies”). (b) The period commencing on the date Executive receives this Agreement and terminating on Separation Date shall be delivered by hand or email to the Chief Executive Officer. The thirty (30) days between the giving of the Required Notice and the effective date of the Resignation, inclusive, is the “Notice Period.” (i) ” The Company retains reserves the right to waive the Required Notice in whole or in part, in which case the termination date shall be the date that the Company accepts the Employee’s resignation. (ii) During the Notice Period, the Company mayright, in its sole discretion, take to waive the Notice Period by advancing the Separation Date to an earlier date selected by the Company. During any one or more portion of the following actions: (a) require Notice Period not waived by the Employee to Company, Executive shall remain an employee of the Company, and will perform his normal such duties and responsibilities; responsibilities as the Chief Executive Officer so directs. During the Notice Period, unless otherwise directed by the Chief Executive Officer, Executive shall not (bi) require discuss the Employee separation of his employment with any employees or business relations of the Eagle Companies, including any banks, vendors, transfer agents, investors, or other business relations, (ii) report to remain away from the Company’s premises; office, or (ciii) require the Employee not to perform engage in any duties business on behalf of the Company; (d) require Eagle Companies. Notwithstanding the Employee not foregoing, to contact clientsthe extent so directed by the Chief Executive Officer, prospects, or managers of the Company; and/or (e) withdraw any powers vested in, or duties assigned to, the Employee. (iii) The Company will continue to pay the Base Salary during the Notice Period only if Executive agrees to (A) continue to perform his duties as Chief Financial Officer, (B) transition his knowledge, responsibilities, and duties to other employees of the Employee is in compliance with his obligations under this Agreement Eagle Companies, and (C) perform other or otherwise to different duties as the Company during the Notice Perioddeems appropriate. (ivc) In As promptly as possible following the event that date Executive receives this Agreement and no later than the Employee does not Separation Date, Executive shall provide Eagle International with a list of the Required Noticecontact information for all banks, the Employee acknowledges and agrees that such failure to provide the Required Notice (a) constitutes a breach of this Agreementvendors, transfer agents, and therefore constitutes a Cause eventother business relations utilized by Executive on behalf of the Eagle Companies. Such list shall include all relevant details for such banks, vendors, transfer agents, and (b) subjects the Company to irreparable harm entitling it to immediate or other equitable reliefbusiness relations, including obtaining injunctive relief prohibiting any applicable points of contract, phone numbers, account numbers, email addresses, websites, login information, and passwords used by Executive on behalf of the Employee from commencing new employment or performing services for another employer or entityEagle Companies.