Termination by Executive for Company Breach Sample Clauses

Termination by Executive for Company Breach. Termination by the Company Without Cause; --------------------------------------------------------------------------------------- Termination of Agreement; Payments Upon Such Termination. -------------------------------------------------------- (a) Executive shall have the right to terminate his employment hereunder upon a material breach by the Company of any of the terms or conditions of this Agreement; provided, however, that -------- ------- Executive shall not be permitted to terminate his employment pursuant to this Section 5.3 without providing the Company at least thirty (30) days' prior written notice specifying the breach and permitting the Company an opportunity to cure such breach. In addition, the Company may terminate this Agreement upon fifteen (15) days written notice "without cause" (i.e., without reason or for any reason other than pursuant to Section 5.1 above), including upon a Change of Control (as defined herein). (b) Executive shall have the right to terminate his employment hereunder upon the assignment to Executive of any duties materially inconsistent with, or the substantial reduction of responsibilities or functions associated with, the position of Executive Vice President of Corporate Development of the Company; provided, however, that Executive shall not be permitted to terminate his employment pursuant to -------- ------- this Section 5.3(b) without providing the Company at least thirty (30) days' written notice thereof. (c) If Executive or the Company exercises his or its rights pursuant to this Section 5.3, or upon termination of this Agreement per Section 3.1, the Company shall pay to Executive, as his sole and exclusive remedy, a severance payment equal to Executive's then-current annual base salary for a period of one (1) year from the date of termination of Executive's employment hereunder in addition to any and all employee benefits (including health insurance) during such one-year period. Any amounts payable under this subsection (c) shall be paid according to the same schedule as would have applied if Executive had remained in the employ of the Company. Notwithstanding the foregoing, except in the case of a Change of Control, the Company's obligation to pay the severance payment shall immediately terminate upon the later of (i) the date on which Executive obtains other employment within such one-year period at a salary level greater than or equal to Executive's annual base salary hereunder or (ii) six (6) months from...
Sample 1
Termination by Executive for Company Breach. The Transition Period may be terminated by Executive for the Company’s material breach of this Agreement (for “ Company Breach”). To terminate for Company Breach, Executive must deliver a written demand for performance to the Company within 30 days of the first occurrence of the event or circumstance underlying the claim of material breach, which written demand must specifically identify the manner in which the Executive believes that the Company is in material breach, and the Company must fail to remedy the breach within 30 days of such written notice from Executive. If the Transition Period is terminated by Executive for Company Breach, then Executive shall be entitled to the Accrued Obligations, Accrued Benefits, and any vested Company Equity as of the date the Transition Period is terminated pursuant to this Section 4.3. In addition, if Executive signs and does not revoke the General Release, Executive will be entitled to a lump sum payment equal to Executive’s monthly base salary, less applicable withholdings, for the balance of the Term.
Sample 1
Termination by Executive for Company Breach. If Executive terminates his employment by reason of a Company Breach that has not been cured within thirty (30) days after written notice of such breach, this Agreement shall terminate without further obligations to Executive, other than for provision of the payments and benefits set out in Section 5.9(iii) above, each to the extent not previously paid and each less applicable withholdings and deductions.
Sample 1

Related to Termination by Executive for Company Breach

  • Termination by Executive The Executive may terminate his employment hereunder at any time for any reason by giving the Company prior written notice not less than 30 days prior to such termination. Any termination pursuant to this paragraph 3(e) shall preclude a later claim that such termination was for Good Reason.

  • Termination by Executive for Good Reason The Executive may terminate the Executive’s employment for Good Reason. For purposes of this Agreement, “Good Reason” shall mean, without the Executive’s consent, the following:

  • Termination by Executive with Good Reason Executive may terminate his employment with Good Reason by providing the Company thirty (30) days’ written notice setting forth in reasonable specificity the event that constitutes Good Reason, which written notice, to be effective, must be provided to the Company within ninety (90) days of Executives knowledge of occurrence of such event. During such thirty (30) day notice period, the Company shall have a cure right, and if not cured within such period, Executive’s termination will be effective upon the expiration of such cure period, and Executive shall be entitled to the same payments and benefits as provided in Section 8(d) hereof for a termination by the Company without Cause, subject to the same conditions on payment and benefits as described in Section 8(d) hereof. Following such termination of Executive’s employment by Executive with Good Reason, except as set forth in this Section 8(e), Executive shall have no further rights to any compensation or any other benefits under this Agreement. For the avoidance of doubt, Executive’s sole and exclusive remedy upon a termination of employment with Good Reason shall be receipt of the Severance Benefits.

  • Voluntary Termination by Executive The Executive may voluntarily terminate his employment for any reason and such termination shall take effect 30 days after the receipt by Company of the Notice of Termination. Upon the effective date of such termination, Executive shall be entitled to (a) accrued and unpaid Salary and vacation through such termination date; and (b) all other compensation and benefits that were vested through such termination date. In the event Executive is terminated without notice, it shall be deemed a termination by the Company for Cause.

  • Termination by Executive without Good Reason The Executive may terminate his employment without Good Reason by providing the Company thirty (30) days’ written notice of such termination. In the event of a termination of employment by the Executive under this Section 6(g), the Executive shall be entitled only to the Accrued Obligations. In the event of termination of the Executive’s employment under this Section 6(g), the Company may, in its sole and absolute discretion, by written notice, accelerate such date of termination and still have it treated as a termination without Good Reason.

  • Termination by Executive other than for Good Reason Executive’s employment may be terminated by Executive without further liability on the part of Executive (other than with respect to those provisions of this Agreement expressly surviving such termination) by written notice to the Board of Directors at least sixty (60) days prior to such termination; provided, however, the Company may waive the notice period and accelerate the termination date without converting the Termination by Executive into a Termination by the Company.

  • Resignation by Executive for Good Reason (a) Provided Executive has not previously been notified of the Company’s intention to terminate Executive’s employment, Executive may resign from employment with the Company for Good Reason (as defined in Section 6.4(b) below).

  • Resignation by Executive (a) Executive may resign from Executive’s employment with the Company at any time, in accordance with Section 6.6, by giving notice as described in Section 7.1. (b) In the event Executive resigns from Executive’s employment with the Company for any reason other than Good Reason in accordance with Sections 6.1 or 6.2, Executive will not receive Severance Benefits, Change in Control Severance Benefits, or any other severance compensation or benefits, except that, pursuant to the Company’s standard payroll policies, the Company shall pay to Executive the Accrued Obligations.

  • Voluntary Resignation by Executive Executive can voluntarily resign his employment at any time, effective thirty-one (31) days following the date on which a written notice to such effect is delivered to the Company. If Executive’s employment is terminated as a result of Executive voluntarily resigning his employment and for no other reason, Executive shall be entitled to payment of the Accrued Benefits.

  • Resignation by Executive without Good Reason The Executive may voluntarily terminate employment with the Company during the term of this Agreement, upon at least 60 days’ prior written notice to the Board of Directors, in which case the Executive shall receive only his compensation, vested rights, and Executive benefits up to the date of his termination of employment.