Termination by Non-Renewal. Owner may, at the end of the initial term or during any extension term, terminate this Agreement upon 90 days notice given to Manager and upon payment of all outstanding principal and accrued and unpaid interest under the Note.
Termination by Non-Renewal. In the event the company fails to renew Executive’s employment before the expiration of this Agreement (“Non-Renewal”), Executive shall be entitled to receive:
(i) The Accrued Obligations through the date of termination, payable in a lump sum within 15 days.
(ii) Pro-rated payment of the Performance Bonus in Sections 3.B.(iii).
(iii) 50% of the restricted stock awarded in Section 4.A shall immediately vest and become non-restricted.
Termination by Non-Renewal. This Agreement may be terminated by either party by written notice of non-renewal in accordance with the provisions of 7.1 hereof.
Termination by Non-Renewal. In the event the company fails to renew Executive’s employment (pursuant to this Agreement or otherwise) before the expiration of this Agreement (“Non-Renewal”), Executive shall be entitled to receive the Termination Benefits through the date of the termination of Executive’s employment, payable in a lump sum within 15 days.
Termination by Non-Renewal. In the event the company fails to renew Executive’s employment before the expiration of this Agreement (“Non-Renewal”), Executive shall be entitled to receive only:
a. The unpaid Base Salary and vacation earned by Executive pursuant to Sections 3 and 4 for services rendered through the date of termination, payable in accordance with the Company’s normal payroll practices for terminated salaried employees;
b. Full payment of the Performance Bonus tied to a potential Change of Control of the Company (Paragraph 3.B.b.) if such sale occurs during the Term or within six months following the Term.
c. Pro-rated payment of the Earnings Bonus as set forth in Section 3.B.a., which amount will be paid 15-days following the Company’s filing of its Form 10-K.
Termination by Non-Renewal. The Employer may terminate this Agreement by providing written notice to Employee that the Employer will not renew this Agreement with Employee, provided however, that such notice must be given to Employee no less than One Hundred Twenty (120) days prior to completion of the term of this Agreement. If the Employer fails to give such written notice and if Employer fails to render a new agreement upon expiration of this Agreement, this Agreement will automatically extend for periods of One (1) year under the same terms and conditions of this Agreement plus a salary increase of Ten percent (10%) for each year thereafter. If this agreement is terminated pursuant to Paragraph 11 of this Agreement, the Termination Date shall be the final day of the term being served by Employee and no other compensation shall accrue from that day forward. In the event this Agreement is terminated pursuant to Paragraph 11, the Employer shall pay Employee's Compensation accrued through the Termination Date pursuant to Paragraphs 5, 6 & 8 of this Agreement.
Termination by Non-Renewal. During the Term of this Agreement, the Company may terminate Employee for other than Cause, Death, or Disability at any time during the Term of this Agreement, upon not less than thirty (30) days notice. Prior to and/or during any Renewal Period, the Company may also terminate this Agreement by giving a notice of non-renewal at least 90 days prior to the commencement of the next Renewal Period. In the event the Company exercises its right to terminate the Employee other than for Cause, Death, or Disability at any time during this Agreement, during the Term of this Agreement as described in this Section 8.7, and/or gives a notice of non-renewal prior to and/or during any Renewal Period as described in this Section 8.7, Employee shall at the time of such termination be entitled to receive (i) his salary through the date of such termination and for a period of one (1) year after such termination, and (ii) outplacement services from an agency to be selected by the Company in an amount not to exceed Ten Thousand ($10,000) Dollars,
Termination by Non-Renewal. Either Joint Venturer may, at the end of the initial term or during any extension term, terminate this Agreement with respect to such Joint Venturer and his Territory upon 90 days notice given to Manager and upon payment of all outstanding principal and accrued and unpaid interest under the Note.
Termination by Non-Renewal. In the event Executive’s employment terminates as a result of a non-renewal under Section 2 hereof, Executive shall only be entitled to payment of the Accrued Amounts. Additionally, the Parties hereby agree that in the event that Executive’s employment terminates as a result of non-renewal by either Party, Executive’s post-employment non-competition and non-solicitation obligations as set forth in Sections 1 and 2 of Exhibit A hereto shall be immediately null and void and without force and effect, and the Company shall have no right or entitlement to enforcement of such post-employment restrictions.
Termination by Non-Renewal. In the event the Employment Period expires because of an election by Employer to allow the Employment Period to expire at the end of its then stated term as provided in Section 2 hereof, Employer shall pay to Executive (i) Base Salary for the one year period following the date of termination (calculated at its then current rate per year), payable in equal installments at the times Base Salary would have been paid had the Employment Period not been terminated and (ii) when due pursuant to the provisions of Section 4.2 the Bonus for the Bonus Year in which the Employment Period expired prorated as provided in said Section 4.2. Employer shall have no obligation to continue any other benefits provided for in Section 4 past the date of termination.
