Common use of Termination by Either Party; General Provisions Clause in Contracts

Termination by Either Party; General Provisions. Either the Company or Employee may terminate Employee’s employment hereunder at any time during the term of this Agreement by delivery of ninety (90) days prior written notice by the terminating party to the other party. Promptly after such termination of employment, in addition to any other payments or benefits provided in this Section 10, the Company shall pay to Employee an amount equal to the sum of (i) the Employee’s earned but unpaid Annual Base Salary through the date of termination of employment at the rate in effect at the time of such termination, (ii) vacation pay earned but not taken to the date of such termination, and (iii) all other amounts previously deferred by Employee or earned but not paid as of such date under all Company incentive or deferred compensation plans or programs.

Appears in 3 contracts

Samples: Employment Agreement (University General Health System, Inc.), Employment Agreement (University General Health System, Inc.), Employment Agreement (University General Health System, Inc.)

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Termination by Either Party; General Provisions. Either the Company or Employee may terminate Employee’s 's employment hereunder at any time during the term of this Agreement by delivery of ninety sixty (9060) days prior written notice by the terminating party to the other party. Promptly after such termination of employment, in addition to any other payments or benefits provided in this Section 10, the Company shall pay to Employee an amount equal to the sum of (i) the Employee’s 's earned but unpaid Annual Base Salary through the date of termination of employment at the rate in effect at the time of such termination, (ii) vacation pay earned but not taken to the date of such termination, and (iii) all other amounts previously deferred by Employee or earned but not paid as of such date under all Company incentive or deferred compensation plans or programs.

Appears in 3 contracts

Samples: Employment Agreement (Encompass Services Corp), Employment Agreement (Encompass Services Corp), Employment Agreement (Encompass Services Corp)

Termination by Either Party; General Provisions. Either the Company or Employee may terminate Employee’s 's employment hereunder at any time during the term of this Agreement by delivery of ninety sixty (9060) days prior written notice by the terminating party to the other party. Promptly after such termination of employment, in addition to any other payments or benefits provided in this Section 109, the Company shall pay to Employee an amount equal to the sum of (i) the Employee’s 's earned but unpaid Annual Base Salary through the date of termination of employment at the rate in effect at the time of such termination, (ii) vacation pay earned but not taken to the date of such termination, and (iii) all other amounts previously deferred by Employee or earned but not paid as of such date under all Company incentive or deferred compensation plans or programs.

Appears in 2 contracts

Samples: Employment Agreement (Encompass Services Corp), Employment Agreement (Encompass Services Corp)

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Termination by Either Party; General Provisions. Either the Company or Employee may terminate Employee’s 's employment hereunder at any time during the term of this Agreement by delivery of ninety (90) days prior written notice by the terminating party to the other party. Promptly after such termination of employment, in addition to any other payments or benefits provided in this Section 10, the Company shall pay to Employee an amount equal to the sum of (i) the Employee’s 's earned but unpaid Annual Base Salary through the date of termination of employment at the rate in effect at the time of such termination, (ii) vacation pay earned but not taken to the date of such termination, and (iii) all other amounts previously deferred by Employee or earned but not paid as of such date under all Company incentive or deferred compensation plans or programs.

Appears in 1 contract

Samples: Employment Agreement (University General Health System, Inc.)

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