Termination by Company without Cause; Termination by Executive without Constructive Discharge Sample Clauses
This clause defines the conditions under which the company can terminate the executive's employment without cause, as well as the circumstances in which the executive may resign without claiming constructive discharge. Typically, it outlines the notice requirements, any severance or benefits the executive may receive, and the process for ending the employment relationship in these situations. The core function of this clause is to provide a clear framework for ending the employment relationship when neither party is alleging misconduct or breach, thereby reducing uncertainty and potential disputes.
Termination by Company without Cause; Termination by Executive without Constructive Discharge. Executive may terminate Executive’s employment and the Employment Period at any time for any reason upon thirty (30) days’ prior written notice to Company. Company may terminate Executive’s employment and the Employment Period without Cause effective immediately upon written notice to Executive. Upon termination of Executive’s employment with Company for any reason, Executive shall be deemed to have resigned from all positions with the Company and each of its subsidiaries and shall take all appropriate steps and cooperate with Company to effect such terminations (provided, that any such deemed resignations shall not affect Executive’s entitlement (if any) to severance pay and benefits hereunder).