Common use of Termination by Executive for Other than Good Reason Clause in Contracts

Termination by Executive for Other than Good Reason. In the event Executive terminates his employment for other than Good Reason, all of Executive's rights to his Base Salary, Benefits and Bonus, if any, shall immediately terminate as of the date of termination, except that Executive shall be entitled to any earned and unpaid portion of his Base Salary and accrued Benefits up to the date of termination. Company shall have no further obligations to Executive under the Agreement.

Appears in 4 contracts

Samples: Employment Agreement (Gigabeam Corp), Employment Agreement (Gigabeam Corp), Employment Agreement (Gigabeam Corp)

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Termination by Executive for Other than Good Reason. In the event If Executive terminates his Executive’s employment for any reason other than Good Reason, all this Agreement shall terminate without further obligations to Executive other than (a) the timely payment of Executive's rights Accrued Obligations and (b) payment to his Base SalaryExecutive of any bonus payments under Section 3.3, Benefits and Bonus, if any, shall immediately terminate as of prorated to the date of termination, except that Executive shall be entitled subject to any earned achievement of the applicable metrics and unpaid portion qualitative assessment of his Base Salary Executive’s performance by the Board of Directors (less standard withholdings and accrued Benefits up to the date of termination. Company shall have no further obligations to Executive under the Agreementother authorized deductions).

Appears in 1 contract

Samples: Employment Agreement (Media Arts Group Inc)

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