Termination by Company Without Cause or by the Executive with Good Reason. If either the Company terminates the Executive's employment for any reason other than for Cause or on account of Disability or the Executive terminates his employment for Good Reason (as hereinafter defined), the Company shall: (i) pay to the Executive, within thirty (30) days after the date of such termination, a lump sum cash payment equal to 2.99 times the Executive's then current annual rate of Total Compensation; (ii) pay the Executive any accrued but unpaid compensation as of the date of the termination of employment; and (iii) continue until the first anniversary of the termination of the Executive's employment, or such longer period as any plan, program or policy or ERISA or other laws may provide, benefits to the Executive as set forth in Section 7(f) below.
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Samples: Employment Agreement (Houston Exploration Co), Employment Agreement (Houston Exploration Co), Employment Agreement (Houston Exploration Co)
Termination by Company Without Cause or by the Executive with Good Reason. If either the Company terminates the Executive's ’s employment for any reason other than for without Cause or on account of Disability or the Executive terminates his employment for Good Reason (as hereinafter defined), the Company shall:
(i) pay to the Executive, in accordance with the Company’s normal payroll practices, his current rate of total compensation for the remaining term of employment, as extended pursuant to Section 1, or if the Company so elects, pay the Executive such amount in lump sum form within thirty (30) 30 days after the date of such termination, a lump sum cash payment equal to 2.99 times the Executive's then current annual rate of Total Compensation;
(ii) pay the Executive any accrued but unpaid compensation as of the date of the termination of employment; and
(iii) continue until the first anniversary of the termination of the Executive's ’s employment, or such longer period as any plan, program or policy or ERISA or other laws may provide, benefits to the Executive as set forth in Section 7(f) below.
Appears in 5 contracts
Samples: Employment Agreement (Ascent Energy Inc), Employment Agreement (Ascent Energy Inc), Employment Agreement (Ascent Energy Inc)
Termination by Company Without Cause or by the Executive with Good Reason. If either the Company terminates the Executive's employment for any reason other than for Cause or on account of Disability or the Executive terminates his employment for Good Reason (as hereinafter defined), the Company shall:
(i) pay to the Executive, within thirty (30) 30 days after the date of such termination, a lump sum cash payment equal to 2.99 times the Executive's then current annual rate of Total Compensationtotal compensation;
(ii) pay the Executive any accrued but unpaid compensation as of the date of the termination of employment; and
(iii) continue until the first anniversary of the termination of the Executive's employment, or such longer period as any plan, program or policy or ERISA or other laws may provide, benefits to the Executive as set forth in Section 7(f) below.
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Termination by Company Without Cause or by the Executive with Good Reason. If (x) a Change of Control (as hereinafter defined) has not occurred and (y) either the Company terminates the Executive's employment for any reason other than for without Cause or on account of Disability or the Executive terminates his her employment for Good Reason (as hereinafter defined), the Company shall:
(i) pay to the Executive, within thirty (30) 30 days after the date of such terminationtermination in, a lump sum cash payment equal to 2.99 two times the Executive's then current annual rate of Total Compensationtotal compensation;
(ii) pay the Executive any accrued but unpaid compensation as of the date of the termination of employment; and
(iii) continue until the first anniversary of the termination of the Executive's employment, or such longer period as any plan, program or policy or ERISA or other laws may provide, benefits to the Executive as set forth in Section 7(f) below.
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Termination by Company Without Cause or by the Executive with Good Reason. If either the Company terminates the Executive's employment for any reason other than for Cause or on account of Disability or the Executive terminates his employment for Good Reason (as hereinafter defined), the Company shall:
(i) pay to the Executive, within thirty (30) 30 days after the date of such termination, a lump sum cash payment equal to 2.99 times the Executive's then current (x) annual rate of Total Compensationbase salary and (y) target annual incentive compensation for the fiscal year in which such termination occurs;
(ii) pay the Executive any accrued but unpaid compensation as of the date of the termination of employment; and
(iii) continue until the first anniversary of the termination of the Executive's employment, or such longer period as any plan, program or policy or ERISA or other laws may provide, benefits to the Executive as set forth in Section 7(f) below.
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