Common use of Termination and Severance Clause in Contracts

Termination and Severance. Executive’s employment is “at-will” and may be terminated by Executive or the Company with or without cause and with or without prior notice. Except as described in Exhibit A, upon Executive’s termination of employment, Executive will be entitled only to current Base Salary and any accrued, unused vacation compensation, in each case only to the extent earned as of the date of termination. Upon termination of Executive’s employment, his options, restricted stock, and restricted stock units will be treated as set forth in the agreements representing those options, restricted stock, and restricted stock units.

Appears in 5 contracts

Samples: Executive Employment Agreement (Erickson Air-Crane Inc), Executive Employment Agreement (Erickson Air-Crane Inc), Executive Employment Agreement (Erickson Air-Crane Inc)

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Termination and Severance. Executive’s employment is “at-will” and may be terminated by Executive or the Company with or without cause and with or without prior noticenotice at any time. Except as described in Exhibit A, upon Executive’s termination of employment, Executive will be entitled only to current Base Salary and any accrued, unused vacation compensation, in each case only to the extent earned as of the date of termination. Upon termination of Executive’s employment, his options, restricted stock, and restricted stock units will be treated as set forth in the agreements representing those options, restricted stock, and restricted stock units.

Appears in 2 contracts

Samples: Executive Employment Agreement (Erickson Air-Crane Inc), Executive Employment Agreement (Erickson Air-Crane Inc)

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Termination and Severance. Executive’s 's employment is "at-will" and may be terminated by Executive or the Company with or without cause and with or without prior notice. Except as described in Exhibit A, upon Executive’s 's termination of employment, Executive will be entitled only to current Base Salary and any accrued, unused vacation compensation, in each case only to the extent earned as of the date of termination. Upon termination of Executive’s 's employment, his options, restricted stock, and restricted stock units will be treated as set forth in the agreements representing those options, restricted stock, and restricted stock unitsunits (collectively, "Equity Agreements").

Appears in 1 contract

Samples: Executive Employment Agreement (Erickson Inc.)

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