Common use of Termination By Company For Any Other Reason Clause in Contracts

Termination By Company For Any Other Reason. In the event that Executive's employment hereunder is terminated by the Company during the Term for any reason other than as provided in Section 4(b) or 4(c) of this Agreement, then the Company shall pay to Executive the Base Salary through such date of termination and, in lieu of any further compensation and benefits for the balance of the Term, severance pay equal to the Base Salary that Executive would have otherwise received during the period beginning on such date of termination and ending on the earlier of (i) six (6) months from the effective date of such termination and (ii) the last day of the Term, which severance pay shall be paid commencing with such date of termination at the times and in the amounts such Base Salary would have been paid. Notwithstanding anything to the contrary contained herein, in the event that Executive shall breach Section 5 or 6 of this Agreement, in addition to any other remedies the Company may have in the event Executive breaches this Agreement, the Company's obligation pursuant to this Section 4(d) to continue such salary shall cease and Executive's rights thereto shall terminate and shall be forfeited.

Appears in 6 contracts

Samples: Employment Agreement (Atlantic Technology Ventures Inc), Employment Agreement (Atlantic Technology Ventures Inc), Employment Agreement (Atlantic Technology Ventures Inc)

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Termination By Company For Any Other Reason. In the event that ExecutiveEmployee's employment hereunder is terminated by the Company during the Term for any reason other than as provided in Section 4(b) ), 4(c), or 4(c4(d) of this Agreement, then the Company shall pay to Executive Employee the Base Salary through such date of termination and, in lieu of any further compensation and benefits for the balance of the Term, severance pay equal to the Base Salary that Executive Employee would have otherwise received during the period beginning on such date of termination and ending on the earlier of one (i1) six (6) months month from the effective date of such termination and (ii) the last day of the Termtermination, which severance pay shall be paid commencing with such date of termination at the times and in the amounts such Base Salary would have been paid. Notwithstanding anything to the contrary contained herein, in the event that Executive Employee shall breach Section 5 or 6 of this Agreement, in addition to any other remedies the Company may have in the event Executive Employee breaches this Agreement, the Company's obligation pursuant to this Section 4(d4(e) to continue such salary shall cease and ExecutiveEmployee's rights thereto shall terminate and shall be forfeited.

Appears in 3 contracts

Samples: Employment Agreement (Atlantic Technology Ventures Inc), Employment Agreement (Atlantic Technology Ventures Inc), Employment Agreement (Atlantic Technology Ventures Inc)

Termination By Company For Any Other Reason. In the event that ------------------------------------------- Executive's employment hereunder is terminated by the Company during the Agreement Term for any reason other than as provided in Section 4(bSections 5(b) or 4(c5(c) of this Agreementhereof, then the Company shall pay to Executive Executive, within thirty (30) days of the date of such termination, the Base Salary through such date of termination and, in lieu of any further compensation and benefits for the balance of the Agreement Term, severance pay equal to the Base Salary that Executive would have otherwise received during the period beginning on such date of termination and ending on the earlier of (i) six (6) months from the effective date of such termination and (ii) the last day of the Termtermination, which severance pay shall be paid commencing with such date of termination at the times and in the amounts such Base Salary would have been paid. Notwithstanding anything to the contrary contained herein; provided, however, that in the event that Executive shall breach Section 5 Sections 4 or 6 of this Agreementhereof, in addition to any other remedies the Company may have in the event Executive breaches this Agreement, the Company's obligation pursuant to this Section 4(d5(d) to continue such payments of salary shall cease and Executive's rights thereto shall terminate and shall be forfeited.

Appears in 2 contracts

Samples: Employment Agreement (Life Medical Sciences Inc), Employment Agreement (Life Medical Sciences Inc)

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Termination By Company For Any Other Reason. In the event that Executive's employment hereunder is terminated by the Company during the Term for any reason other than as provided in Section 4(b) ), 4(c), or 4(c4(d) of this Agreement, then the Company shall pay to Executive the Base Salary through such date of termination and, in lieu of any further compensation and benefits for the balance of the Term, severance pay equal to the Base Salary that Executive would have otherwise received during the period beginning on such date of termination and ending on the earlier of (i) six three (63) months from the effective date of such termination and (ii) the last day of the Term, which severance pay shall be paid commencing with such date of termination at the times and in the amounts such Base Salary would have been paid. Notwithstanding anything to the contrary contained herein, in the event that Executive shall breach Section 5 or 6 of this Agreement, in addition to any other remedies the Company may have in the event Executive breaches this Agreement, the Company's obligation pursuant to this Section 4(d4(e) to continue such salary shall cease and Executive's rights thereto shall terminate and shall be forfeited.

Appears in 2 contracts

Samples: Employment Agreement (Atlantic Technology Ventures Inc), Employment Agreement (Atlantic Technology Ventures Inc)

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