Common use of Term of Agreement; Separation Clause in Contracts

Term of Agreement; Separation. a) The term of this Employment Agreement, shall be Two (2) years commencing on the date hereof, and thereafter shall automatically continue from year-to-year unless and until either party shall give notice to the other at least three (3) months prior to the end of the original, or the then current renewal term. b) The Company may terminate this Employment Agreement for cause, defined as follows: 1) Deliberate disclosure of Company secrets for consideration; or 2) Conviction of Employee of a felony involving moral turpitude, or of any other law which may reasonably be deemed to cause a detrimental effect upon the Company as a result of mutual association. If the Company separates the Employee for cause, the Company will have no further liability or obligation except to pay the Employee earned and unpaid compensation. c) The Company may separate the Employee; a) without cause, or b) should the Employee die or become disabled such that the Employee has been unable to perform any duties here under for ninety (90) days during any year of this Employment Agreement or for any period of sixty (60) consecutive days. In the event of such separation, the severance package described in Exhibit 1, Section 5 applies. d) In the event, at any time during the initial term of this Employment Agreement, or any extension thereof, Employee shall be involuntarily removed as President of Sedona GeoServices, Inc., then Employee may terminate this Employment Agreement and receive severance in accordance with Exhibit 1, Section 5. e) In the event of change of control of the Company, Employee may elect to terminate his employment in which event he shall receive the severance package describe in Exhibit 1, Section 5. For these purposes, change of control includes the following: Sale of a majority of the outstanding shares or assets of the Company, Change in composition of more than 50% of the Board of Directors as presently constituted, or should Xxxxxxxx X. Xxxxxxxxx cease as either Chief Executive Officer or Chief Operating Officer.

Term of Agreement; Separation. a) The term of this the Employment Agreement, Agreement shall be Two two (2) years commencing on the date hereof, and thereafter shall automatically continue from year-to-year unless and until either party shall give notice to based on the other approval of both parties with said approval occurring at least three (3) months prior to the end of the original, or the then current renewal term. b) The Company may terminate this Employment Agreement for cause, defined as follows: 1) Deliberate disclosure of Company secrets for consideration; or 2) Conviction of Employee of a felony involving moral turpitude, or of any other law which may reasonably be deemed to cause a detrimental effect upon the Company as a result of mutual association. If the Company separates the Employee for cause, the Company will have no not further liability or obligation except to pay the Employee earned and unpaid compensation. c) The Company may separate the Employee; a) without cause, or b) should the Employee die or become disabled such that the Employee has been unable to perform any of his essential duties here under for ninety (90) days during any year of this the Employment Agreement or for any period of sixty (60) consecutive days. In the event of such separation, the severance package described in Exhibit 1, Section 5 4 applies. d) In the event, at any time during the initial term of this Employment Agreement, or any extension thereof, Employee shall be involuntarily removed as Vice President of Sedona GeoServices, Inc., then and as Chief Financial Officer the Employee may terminate this the Employment Agreement and receive severance in accordance with Exhibit 1, Section 54. e) In the event of change of control of the Company, Employee may elect to terminate his employment in which event he shall receive the severance package describe described in Exhibit 1, Section 54. For these purposes, change of control includes the following: Sale of a majority of the outstanding shares or assets of the Company, or Change in composition of more than 50% of the Board of Directors as presently constituted, or should Xxxxxxxx X. Xxxxxxxxx cease as either Chief Executive Officer or Chief Operating Officer.

Term of Agreement; Separation. a) The term of this Employment Agreement, shall be Three (3) years and Two (2) years months commencing on the date hereof, and thereafter shall automatically continue from year-to-year at an agreed upon salary (not less than $250,000) unless and until either party shall give notice to the other at least three twelve (312) months prior to the end of the original, or the then current renewal term. b) The Company may terminate this Employment Agreement for cause, defined as follows: 1) Deliberate disclosure of Company secrets for consideration; or 2) Conviction of Employee of a felony involving moral turpitude, or of any other law which may reasonably be deemed to cause a detrimental effect upon the Company as a result of mutual association. If the Company separates the Employee for cause, the Company will have no further liability or obligation except to pay the Employee earned and unpaid compensation. c) The Company may separate the Employee; a) without cause, or b) should the Employee die or become disabled such that the Employee has been unable to perform any duties here under hereunder for ninety (90) days during any year of this Employment Agreement or for any period of sixty (60) consecutive days. In the event of such separation, . the severance package described in Exhibit 1, Section 5 applies. d) In the event, at any time during the initial term of this Employment Agreement, or any extension thereof, Employee shall be involuntarily removed as Chief Operating Officer of Scangraphics, Inc. and/or President of Sedona GeoServices, Inc., then Employee may terminate this Employment Agreement and receive severance in accordance with Exhibit 1, Section 5. e) In the event of change of control of the Company, Employee may elect to terminate his employment in which event he shall receive the severance package describe described in Exhibit 1, Section 5. For these purposes, change of control includes the following: Sale of a majority of the outstanding shares or assets of the Company, Change in composition of more than 50% of the Board of Directors as presently constituted, or should Xxxxxxxx Xxxxxx X. Xxxxxxxxx Xxxxxx cease as either Chairman of the Board and Chief Executive Officer or Chief Operating Officer(unless Employee becomes CEO).

Term of Agreement; Separation. a) The term of this Employment Agreement, shall be Two (2) years commencing on the date hereof, and thereafter shall automatically continue from year-to-year unless and until either party shall give notice to the other at least three (3) months prior to the end of the original, or the then current renewal term. b) The Company may terminate this Employment Agreement for cause, defined as follows: 1) Deliberate disclosure of Company secrets for consideration; or 2) Conviction of Employee of a felony involving moral turpitude, or of any other law which may reasonably be deemed to cause a detrimental effect upon the Company as a result of mutual association. If the Company separates the Employee for cause, the Company will have no further liability or obligation except to pay the Employee earned and unpaid compensation. c) The Company may separate the Employee; a) without cause, or b) should the Employee die or become disabled such that the Employee has been unable to perform any duties here under hereunder for ninety (90) days during any year of this Employment Agreement or for any period of sixty (60) consecutive days. In the event of such separation, the severance package described in Exhibit 1, Section 5 applies. d) In the event, at any time during the initial term of this Employment Agreement, or any extension thereof, Employee shall be involuntarily removed as President of Sedona GeoServices, Inc., then Employee may terminate this Employment Agreement and receive severance in accordance with Exhibit 1, Section 5. e) In the event of change of control of the Company, Employee may elect to terminate his employment in which event he shall receive the severance package describe described in Exhibit 1, Section 5. For these purposes, change of control includes the following: Sale of a majority of the outstanding shares or assets of the Company, Change in composition of more than 50% of the Board of Directors as presently constituted, or should Xxxxxxxx X. Xxxxxxxxx Laurence L. Osterwise cease as either Chief Executive Officer or Chief Operating OfficerChiex Xxxxxxxxx Xxxxxxx.