TERMINATION AS AN EMPLOYEE AND ACKNOWLEDGMENT OF PAYMENT Sample Clauses

TERMINATION AS AN EMPLOYEE AND ACKNOWLEDGMENT OF PAYMENT. Xxxxxx and the Company hereby agree that Xxxxxx'x employment with the Company shall terminate at 12:01 a.m., Pacific Daylight Time, on July 1, 1998 (the "Termination Date") and effective on the Termination Date, Xxxxxx shall, by execution of this Agreement and by no further action on the part of the Company, any Subsidiary or Xxxxxx, be deemed to have resigned as (i) an employee and officer of the Company and each of its Subsidiaries, and (ii) as a director of each of the Subsidiaries. Xxxxxx shall remain as a director of the Company. Simultaneously with the termination of Xxxxxx'x employment with the Company as set forth herein, Xxxxxx agrees to serve as a consultant to the Company upon the terms detailed below. Except as otherwise specifically set forth in this Agreement, Company shall have no further obligations to Xxxxxx and all compensation and benefits payable to him shall cease as of the Termination Date. Xxxxxx hereby acknowledges that he has been paid all accrued compensation, wages, bonus or vacation pay, benefits and other compensation owed to him by the Company or to which he may be entitled up to and through the Termination Date and hereby releases the Company of any further obligations to pay any such amounts except as specifically contemplated by this Agreement.
Sample 1
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Related to TERMINATION AS AN EMPLOYEE AND ACKNOWLEDGMENT OF PAYMENT

  • Termination of Employment Agreements Any and all Employment Agreements entered into between the Company or any of its Subsidiaries and the Executive prior to the date of this Agreement are hereby terminated.

  • Termination of Employment Agreement (a) Effective as of the Effective Date and immediately prior to the Effective Time, the Employment Agreement is hereby terminated and shall be of no further force or effect whatsoever; provided, however, that, and notwithstanding anything in this Agreement to the contrary, such termination shall be contingent on the closing of the Merger.

  • Termination of Consulting Period Notwithstanding any other provision hereof, the Consulting Period and Consultant’s services as a consultant hereunder shall terminate, and, except as otherwise specifically provided herein, this Agreement shall terminate:

  • Not an Employment Agreement This Agreement is not an employment agreement, and no provision of this Agreement shall be construed or interpreted to create an employment relationship between you and the Company or any Affiliate or guarantee the right to remain employed by the Company or any Affiliate for any specified term.

  • Termination of Employment Relationship 3.1 The Executive’s employment with the Company shall automatically terminate, and the Employment Term shall thereupon terminate:

  • OBLIGATIONS SURVIVE TERMINATION OF EMPLOYMENT Executive agrees that any and all of Executive’s obligations under this Agreement, including but not limited to Exhibits B and C, shall survive the termination of employment and the termination of this Agreement.

  • Termination of Consulting Agreement As of the Effective Date, the Consulting Agreement is hereby terminated and is of no further force or effect.

  • Termination of Employment Following a Change in Control Notwithstanding the provisions of Section 6.3 hereof to the contrary, if the Employee’s employment by the Company is terminated by the Company in accordance with the terms of Section 4 of the Termination Agreement and the Employee is entitled to benefits provided in Section 5 of the Termination Agreement, the Company shall pay to the Employee, in a lump sum in cash within 30 days after the Date of Termination, the aggregate of the Employee’s Base Salary (as in effect on the Date of Termination) through the Date of Termination, if not theretofore paid, and, in the case of compensation previously deferred by the Employee, all amounts of such compensation previously deferred shall be paid in accordance with the plan documents governing such deferral. Except with respect to the obligations set for forth in the Termination Agreement, notwithstanding any provisions herein to the contrary, all other obligations of the Company and rights of the Employee hereunder shall terminate effective as of the Date of Termination.

  • Termination of Employment by the Executive for Good Reason Subject to the notice and cure provisions set forth below, the Executive may terminate the Executive’s employment with the Company for Good Reason and receive the Severance Package provisions of Section 5 if any of the following have occurred without the Executive’s written consent (“Good Reason”):

  • TERMINATION OF EMPLOYMENT; EFFECT OF TERMINATION (a) The Term of Employment may be terminated by the Company at any time:

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