TERMINATION AND EFFECTS OF TERMINATION. 4.1 Should Employee remain employed by Employer beyond the expiration of the Term specified on Exhibit "A," such employment shall convert to a month-to-month relationship terminable at any time by either Employer or Employee for any reason whatsoever, with or without cause. Upon such termination of the employment relationship by either Employer or Employee for any reason whatsoever, all future compensation to which Employee is entitled and all future benefits for which Employee is eligible shall cease and terminate. Employee shall be entitled to pro rata salary through the date of such termination, but Employee shall not be entitled to any individual bonuses or individual incentive compensation not yet paid at the date of such termination.
Appears in 10 contracts
Samples: Executive Employment Agreement (Enron Corp/Or/), Employment Agreement (Azurix Corp), Executive Employment Agreement (Azurix Corp)
TERMINATION AND EFFECTS OF TERMINATION. 4.1 4.1. Should Employee remain employed by Employer beyond the expiration of the Term specified on Exhibit "A," such employment shall convert to a month-to-month relationship terminable at any time by either Employer or Employee for any reason whatsoever, with or without cause. Upon such termination of the employment relationship by either Employer or Employee for any reason whatsoever, all future compensation to which Employee is entitled and all future benefits for which Employee is eligible shall cease and terminate. Employee shall be entitled to pro rata salary through the date of such termination, but Employee shall not be entitled to any individual bonuses or individual incentive compensation not yet paid at the date of such termination.
Appears in 1 contract
TERMINATION AND EFFECTS OF TERMINATION. 4.1 Should Employee remain employed by Employer beyond the expiration of the Term specified on Exhibit "A," Term, such employment shall convert revert to an “employee-at-will status” unless mutually agreed by Employer and Employee to enter into a month-to-month relationship terminable at any time by either Employer new agreement or Employee for any reason whatsoever, with or without causeextend the existing agreement. Upon such termination of the employment relationship by either Employer or Employee for any reason whatsoever, all future compensation to which Employee is entitled entitled, and all future benefits for which Employee is eligible eligible, shall cease and terminate. Employee shall be entitled to pro rata salary through the date of such termination, but Employee shall not be entitled to any individual bonuses or individual incentive compensation not yet paid at the date of such termination.
Appears in 1 contract
Samples: Executive Employment Agreement (Biopower Operations Corp)
TERMINATION AND EFFECTS OF TERMINATION. 4.1 Should Employee remain employed by Employer beyond the expiration of the Term specified on Exhibit "A," such employment shall convert to a month-month- to-month relationship terminable at any time by either Employer or Employee for any reason whatsoever, with or without cause. Upon such termination of the employment relationship by either Employer or Employee for any reason whatsoever, all future compensation to which Employee is entitled and all future benefits for which Employee is eligible shall cease and terminate. Employee shall be entitled to pro rata salary through the date of such termination, but Employee shall not be entitled to any individual bonuses or individual incentive compensation not yet paid at the date of such termination.such
Appears in 1 contract