Common use of Termination at Option of Employer Clause in Contracts

Termination at Option of Employer. Notwithstanding any other section of this Agreement, Employer may terminate this Agreement at any time and without cause by giving Employee sixty (60) days written notice of Employer's intent to terminate this Agreement. In the event Employee's employment is terminated pursuant to Section 7.01 of this Agreement, Employee shall be paid all accrued salary, vacation, and reimbursable expenses for which expense reports have been provided to Employer in accordance with Employer's policies and this Agreement. In addition to the forgoing amounts, if Employee is terminated pursuant to this section of the Agreement, he will be entitled to receipt of additional severance payment as follows:

Appears in 2 contracts

Samples: Employment Agreement (Farmers & Merchants Bancorp), Employment Agreement (Farmers & Merchants Bancorp)

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Termination at Option of Employer. Notwithstanding any other ------------------------------------------------ section of this Agreement, Employer may terminate this Agreement at any time and without cause by giving Employee sixty thirty (6030) days written notice of Employer's intent to terminate this Agreement. In the event Employee's employment is terminated pursuant to Section 7.01 of this Agreement, Employee shall be paid all accrued salary, vacation, vacation and reimbursable expenses for which expense reports have been provided to Employer in accordance with Employer's policies and this Agreement. In addition to the forgoing foregoing amounts, if Employee is terminated pursuant to this section of the Agreement, he will be entitled to receipt of additional severance payment payments as follows:

Appears in 1 contract

Samples: Employment Agreement (Farmers & Merchants Bancorp)

Termination at Option of Employer. Notwithstanding any other section of this Agreement, Employer may terminate this Agreement at any time and without cause by giving Employee sixty (60) days written notice of Employer's ’s intent to terminate this Agreement. The 60th day after notice shall be deemed to be the Employee’s Separation Date. In the event Employee's ’s employment is terminated pursuant to Section 7.01 of this Agreementsection, Employee shall be paid all accrued salary, vacation, salary and reimbursable expenses for which expense reports have been provided to Employer vacation in accordance with Employer's ’s policies and this Agreement. In addition to the forgoing foregoing amounts, if Employee is terminated pursuant to this section section, and subject to Employee’s continued employment through, and termination of employment on, the AgreementSeparation Date, he Employee will be entitled to receipt of additional severance payment payments as followsset forth herein:

Appears in 1 contract

Samples: Employment Agreement (Farmers & Merchants Bancorp)

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Termination at Option of Employer. Notwithstanding any other section of this Agreement, Employer may terminate this Agreement at any time and without cause by giving Employee sixty (60) days written notice of Employer's intent to terminate this Agreement. In the event Employee's employment is terminated pursuant to Section 7.01 of this Agreement, Employee shall be paid all accrued salary, vacation, and reimbursable expenses for which expense reports have been provided to Employer in accordance with Employer's policies and this Agreement. In addition to the forgoing amounts, if Employee is terminated pursuant to this section of the Agreement, he she will be entitled to receipt of additional severance payment as follows:

Appears in 1 contract

Samples: Employment Agreement (Farmers & Merchants Bancorp)

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