Term; Employment at Will Sample Clauses

Term; Employment at Will. This Agreement will have a term of one (1) year and will be automatically renewed for one (1) year periods. Notwithstanding the foregoing, the employment contemplated by this Agreement will be employment at will under the laws of the State of Texas and this Agreement may be terminated by either party by giving fifteen (15) days written notice to the other party. If termination of the Employee by the Corporation (i) is without cause or (ii) as a result of a Change of Control (as defined below) of the Corporation, Employee will be entitled to a severance payment equal to fifty percent (50%) of his annual base salary in effect at the time of the termination, subject to execution of the Corporation's standard release. For the purposes of this Agreement, a "Change of Control" will be deemed to have occurred if: (a) Any "person", including a "group" as determined in accordance with Section 13(d)(3) of the Securities Exchange Act of 1934 and the rules and regulations promulgated thereunder, is or becomes, through one or a series of related transactions or through one or more intermediaries, the beneficial owner, directly or indirectly, of securities of Corporation representing 51% or more of the combined voting power of the Corporation's then outstanding securities other than J. Wxxx Xxxt xx his heirs, The Answer Partnership Ltd. ("TAP") or any corporation or partnership owned or control by TAP or J. Wxxx Xxxt xx his heirs; (b) The Corporation is merged or consolidated with another corporation and as a result of such merger or consolidation less than 50% of the outstanding voting securities of the surviving or resulting corporation will then be owned in the aggregate by the former shareholders of the Corporation, other than (i) any party to such merger or consolidation, or (ii) any affiliates of any such party; (c) A tender offer or exchange offer is made and consummated for the ownership of securities of Corporation representing 51% or more of the combined voting power of Corporation's then outstanding voting securities; or (d) The Corporation transfers all or substantially all of the assets of the Corporation to another corporation or entity that is not wholly owned corporation of the Corporation.
Sample 1
AutoNDA by SimpleDocs
Term; Employment at Will. Unless terminated earlier as set forth herein, Executive’s employment hereunder shall be for a term ending on March 26, 2026. Notwithstanding the foregoing, the Company and Executive acknowledge and agree that each can terminate the employment relationship at any time upon written notice to the other, with or without prior notice, for any reason or for no reason. Executive has received no promise of continued employment or employment for any specific period of time, and no employee of the Company, including without limitation the Company’s officers, has the authority to alter the at-will nature of the employment relationship except in a written employment contract signed by an authorized Company executive and by Executive.
Sample 1
Term; Employment at Will. Subject to the terms of this Agreement (including, without limitation, Section 10 hereof), the term of this Agreement (the “Term”) shall commence on the Effective Time and shall be and continue on an at-will basis, until such time as Executive’s employment is terminated by the Company or Executive. Executive’s employment shall not be for a fixed term, and may be terminated at any time, with or without cause, by either the Company or Executive.
Sample 1Sample 2
Term; Employment at Will. The parties acknowledge that this Agreement is for an indefinite term, and that Employee’s employment is and shall continue to be at-will, as defined under applicable law. If Employee’s employment terminates for any reason, Employee shall only be entitled to the benefits and compensation as provided in this Agreement, or as may be otherwise provided in accordance with Company’s established employee plans and policies in effect at the time of termination.
Sample 1Sample 2
Term; Employment at Will. Notwithstanding any other provision of this Agreement to the contrary, Executive’s employment is at-will, and either Executive or the Company may terminate this Agreement and/or Executive’s related employment by the Company at any time and for any reason, subject to the notice and (if applicable) severance provisions set forth in Section II below. This 2018 Employment Agreement begins on the date hereof and shall remain in effect until terminated as set forth herein (“Term”).
Sample 1
Term; Employment at Will. Subject to the terms and conditions herein contained, the Company hereby employs Employee, and Employee hereby accepts such employment, commencing on the date of this Agreement. NOTWITHSTANDING ANYTHING IN THIS AGREEMENT, OR ANY ORAL OR WRITTEN REPRESENTATIONS TO THE CONTRARY, THE PARTIES UNDERSTAND AND AGREE THAT EMPLOYEE'S EMPLOYMENT WITH THE COMPANY MAY BE TERMINATED BY EITHER PARTY AT ANY TIME FOR ANY REASON, WITH OR WITHOUT CAUSE, AND WITH OR WITHOUT NOTICE. Nothing in this Agreement is intended to create a contractual obligation on the part of Employee to serve the Company for any specified period of time or on the part of the Company to Employee for any specified period of time. Texas is an employment- at- will state, and Employee is employed by Company pursuant to this doctrine.
Sample 1
Term; Employment at Will. Subject to the Executive's right to resign at any time for any or no reason, and subject to the Company's right to terminate for cause set forth in Section 3 herein, the Company shall continuously employ the Executive at all times during which any amount is payable by the Company under that certain Promissory Note dated the date hereof in the aggregate principal amount of $7,500,000 by and among the Company and Crown Energy Corporation, Crown Asphalt Products Company and Crown Asphalt Distribution LLC. Thereafter, the Executive will be deemed to be an employee at will and the Company may terminate the Executive's employment at any time and for any or for no reason.
Sample 1
AutoNDA by SimpleDocs

Related to Term; Employment at Will

  • Employment at Will Nothing in this Agreement or in the Plan shall confer upon Participant any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Corporation (or any Parent or Subsidiary employing or retaining Participant) or of Participant, which rights are hereby expressly reserved by each, to terminate Participant’s Service at any time for any reason, with or without cause.

  • At-Will Employment; Termination The Company and Executive acknowledge that Executive’s employment is and shall continue to be at-will, as defined under applicable law, and that Executive’s employment with the Company may be terminated by either party at any time for any or no reason, with or without notice. If Executive’s employment terminates for any reason, Executive shall not be entitled to any payments, benefits, damages, awards or compensation other than as provided in this Agreement. Executive’s employment under this Agreement shall be terminated immediately on the death of Executive.

  • At-Will Employment The Company and Executive acknowledge that Executive’s employment is and shall continue to be “at-will,” as defined under applicable law. If Executive’s employment terminates for any reason, Executive shall not be entitled to any payments, benefits, damages, awards or compensation other than as provided by this Agreement.

  • Fixed Term Employment (1) An employee and an employer may agree that the employment of the employee will end: (a) At the close of a specified date or period; or (b) On the occurrence of a specified event; or (c) At the conclusion of a specified project. (2) Before an employee and employer agree that the employment of the employee will end in a way specified in subsection (1) the employer must: (a) Have genuine reasons based on reasonable grounds for specifying that the employment of the employee is to end in that way; and (b) Advise the employee of when or how his or her employment will end and the reasons for his or her employment ending in that way. (3) The following reasons are not genuine reasons for the purpose of subsection (2)(a): (a) To exclude or limit the rights of the employee under the Employment Relations Act 2000; (b) To establish the suitability of the employee for permanent employment.

  • Leave When Employment Terminates When the employment of an employee is terminated for any reason, the employee or his/her estate shall, in lieu of earned but unused vacation leave, be paid an amount equal to the product obtained by multiplying the number of days of earned but unused vacation leave by the daily rate of pay applicable to the employee immediately prior to the termination of his/her employment.

  • Outside Employment Employees may engage in other employment outside of their State working hours so long as the outside employment does not involve a conflict of interest with their State employment. Whenever it appears that any such outside employment might constitute a conflict of interest, the employee is expected to consult with his/her appointing authority or other appropriate agency representative prior to engaging in such outside employment. Employees of agencies where there are established procedures concerning outside employment for the purpose of insuring compliance with specific statutory restrictions on outside employment are expected to comply with such procedures.

  • Re-employment An employee who resigns their position and within 90 days is re-employed, will be granted a leave of absence without pay covering those days absent and will retain all previous rights in relation to seniority and benefits subject to any benefit plan eligibility requirements.

  • At-Will Employment Relationship Executive’s employment with the Company is at-will and not for any specified period and may be terminated at any time, with or without Cause or advance notice, by either Executive or the Company. Any change to the at-will employment relationship must be by specific, written agreement signed by Executive and an authorized representative of the Company. Nothing in this Agreement is intended to or should be construed to contradict, modify or alter this at-will relationship.

  • Subsequent Employment Those teachers whose employment commences after the start of the school year shall pay a pro-rated amount equal to the percentage of the remaining school year.

  • During Employment During Employee’s employment hereunder, Employee shall not engage, directly or indirectly, as an employee, officer, director, partner, manager, consultant, agent, owner (other than a minority shareholder or other equity interest of not more than 1% of a company whose equity interests are publicly traded on a nationally recognized stock exchange or over-the-counter) or in any other capacity, in any competition with the Company or any of its subsidiaries.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!