Separation Without Cause, or For Good Reason Sample Clauses

Separation Without Cause, or For Good Reason. Notwithstanding anything to the contrary contained in this Agreement, the Company may in its sole discretion, at any time, separate Executive from employment with the Company Without Cause upon sixty (60) days' prior written notice, and Executive may initiate a separation for Good Reason upon thirty (30) days' prior written notice (hereinafter, any such separation by the Company or Executive shall be called a "Separation Without Cause").
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Separation Without Cause, or For Good Reason. If the ------------------------------------------- Employment Period is terminated by the Board without Cause or by the Executive with Good Reason, then (1) all options granted to the Executive as of the date thereof shall vest immediately and (2) the Executive shall be entitled to receive on such effective date of termination (x) a pro rata bonus payment through the date of termination equal to the pro rated portion of the greater of (i) the prior year's annual bonus received by the Executive or (ii) $90,000, provided, however, that for the period commencing on the date hereof and ending on December 31, 1999, the Executive shall be entitled to a pro rata share of an annual bonus of ninety thousand dollars ($90,000), (y) his Annual Base Salary then in effect for a period equal to the longer of the unexpired Employment Period (not including any renewals thereof)
Separation Without Cause, or For Good Reason. If ------------------------------------------- the Employment Period is terminated by the Board without Cause or by the Executive with Good Reason, then (1) all options granted to the Executive as of the date thereof shall vest immediately and (2) the Executive shall be entitled to receive on such effective date of termination (x) a pro rata bonus payment through the date of termination equal to the pro rated portion of the greater of (i) the prior year's annual bonus received by the Executive or (ii) $90,000, provided, however, that for the period commencing on the date hereof and ending on December 31, 1999, the Executive shall be entitled to a pro rata share of an annual bonus of ninety thousand dollars ($90,000), (y) his Annual Base Salary then in effect for a period equal to the longer of the unexpired Employment Period (not including any renewals thereof) or twelve (12) months and in accordance with normal payroll practices and (z) his life, medical and disability insurance benefits, if any, for one year from the effective date of such termination, and with respect to subclauses (2)(x), (y) and (z) ----------------- --- --- hereof, with no duty to mitigate. Subject to the requirement of applicable law, in the event of a separation without Cause or for Good Reason, the Executive shall have a period of one year in which to exercise options acquired hereunder.

Related to Separation Without Cause, or For Good Reason

  • Termination Without Cause or for Good Reason If Executive’s employment by the Company ceases due to a termination by the Company without Cause (as defined below) or a resignation by Executive for Good Reason (as defined below), Executive will be entitled to:

  • Without Cause or for Good Reason If, during the Employment Period, the Company shall terminate the Executive’s employment without Cause or the Executive shall terminate his employment for Good Reason:

  • Termination of Employment Without Cause or for Good Reason (a) If (1) the Company terminates Executive’s employment without Cause or (2) Executive resigns for Good Reason, then Executive shall be entitled to receive the following termination payments and benefits; provided, however, that this Section 3.3 shall not apply to, and shall have no effect in connection with, any termination to which Section 3.2 of this Agreement applies:

  • Termination Without Cause or With Good Reason If the Executive’s employment is terminated (A) by the Company without Cause, or (B) by the Executive with Good Reason, the Company shall pay (unless otherwise noted, in the normal course) to the Executive or provide the following amounts or benefits:

  • Without Cause or Good Reason At the election of the Company, without Cause, and at the election of the Executive, without Good Reason, in either case upon sixty (60) days’ prior written notice to the Executive or to the Company, as the case may be; provided, however, that if the Executive gives notice, without Good Reason, the Company may waive all or a portion of the sixty (60) days’ written notice and accelerate the effective date of the termination.

  • 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.

  • Termination for Cause or Without Good Reason If the Executive’s employment should be terminated (i) by the Company for Cause, or (ii) by the Executive without Good Reason, the Company shall pay to the Executive any Accrued Amounts only, and shall not be obligated to make any additional payments to the Executive.

  • Termination Without Cause or Resignation for Good Reason If (1) Company terminates Employee’s employment during the Initial Term other than (a) due to Employee’s death or Disability or (b) for Cause (as defined below); or (2) if Employee resigns from Employee’s employment for Good Reason (as defined below) during the Initial Term, Employee shall receive the Accrued Amounts on the Date of Termination and, in addition, subject to the Severance Conditions below, (i) Company shall provide a severance payment equal to three (3) months of Employee’s salary as of the Date of Termination (the “Severance Payment”), divided and paid in equal installments over a period of three (3) months in accordance with Company’s regular payroll practices starting on the first regular payday occurring after the effective date of the Release (as defined below), and (ii) the Company will reimburse Employee for COBRA premiums (at the coverage levels and at the Company-paid rate in effect immediately prior to such termination) for Employee and Employee’s covered dependents until the earliest of (A) the date that is three (3) months following the Date of Termination, (B) the date that Employee (or Employee’s spouse or dependents, as applicable) are no longer eligible for COBRA coverage or (C) the date when Employee receives substantially equivalent health insurance coverage in connection with new employment (the “COBRA Benefit”). Company’s obligation to pay Employee the Severance Payment and COBRA Benefit shall be conditioned on Employee’s satisfaction of the following (the “Severance Conditions”): (1) Employee must first sign, and allow to become effective, a Company-approved separation agreement, which shall include a full general release in a form acceptable to Company, releasing all claims, known or unknown, that Employee may have against Company arising out of or any way related to Employee’s employment or termination of employment with Company (the “Release”); and (2) on or before the effective date of the Release, Employee must have (i) reconfirmed Employee’s agreement to abide by all of the surviving provisions of this Agreement and any other agreement between Employee and Company, (ii) agreed to cooperate in the transition of Employee’s employment; and (iii) agreed not to make any voluntary statements, written or oral, or cause or encourage others to make any such statements that defame, disparage, or in any way criticize the personal and/or business reputations, practices, or conduct of the Company or any of its affiliates. All other Company obligations to Employee will be automatically terminated and completely extinguished.

  • Termination Without Cause or by Executive for Good Reason (a) Company and Executive each reserve the right to terminate Executive’s employment at any time. If a Termination Date occurs due to Company terminating Executive without Cause or Executive terminating for Good Reason (as defined herein), then Company or its successor shall have no further obligations under this Agreement except that Company or its successor shall pay to Executive the amounts shown in Section 4.5(c) hereof.

  • Cause or Voluntary Termination without Good Reason If Executive’s employment shall be terminated for Cause during the Employment Period, or if Executive voluntarily terminates employment during the Employment Period without Good Reason, this Agreement shall terminate without further obligations to Executive, other than for payment of Accrued Obligations (excluding the pro-rata bonus described in clause 2 of Section 6(a)(i)) and the timely payment or provision of Other Benefits.

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