Termination by the Board without Cause. Subject to Section 8(d) below, if the Employee's employment is terminated by the Board without Cause (and not as a result of a Disability) under Section 7(c) above, then the Company shall provide the Employee with (i) a payment of his then current Base Salary through the termination date within thirty (30) days of such termination date, (ii) a payment for any accrued but unused vacation days as of the termination date, within thirty (30) days of such termination date, (iii) a payment of a pro-rata portion of the Employee's bonus for the fiscal year in which the termination occurs, within thirty (30) days of such termination date, using the assumption that the Employee would have received a bonus for that fiscal year equal to 50% of his then current Base Salary (e.g., if one-third of the fiscal year elapsed prior to the termination date, then the Employee would receive one-third of his bonus, if any), (iv) a payment equal to his then current Base Salary for a period of six months, payable within sixty (60) days of such termination date, and (v) continued coverage under the Company's health insurance plan for a period of eighteen months, provided that the Employee makes a timely election to continue such coverage under the federal law known as "COBRA" (such continued coverage to run concurrently with the Company's obligations under COBRA and any other similar state law). The Company's obligations under clauses (iv) and (v) of this subsection shall be subject to reimbursement by the Employee and be reduced by any compensation or benefits actually earned or received by the Employee as an employee of or consultant to any other entity during the six-month period following the date of termination, as applicable, and the Employee shall be required, in good faith, to seek other employment in a comparable position and to otherwise mitigate the payments and benefits set forth under such clauses. The payments and benefits set forth under clauses (iii), (iv), and (v) of this subsection are conditioned upon the Employee's execution of a customary general release, in a form satisfactory to the Company. Other than as set forth in this subsection, the Company shall have no further obligations to the Employee.
Termination by the Board without Cause. The parties agree that the Board, by formal vote, may terminate this Agreement prior to its normal expiration, without cause, as follows:
Termination by the Board without Cause. The Board may terminate this Employment Contract for any reason without cause upon an affirmative vote of a majority of the full Board at a regular or special meeting of the Board. The Board shall provide written notice to the Superintendent that an agenda item concerning possible action regarding termination without cause at least sixty (60) calendar days prior to the agenda item being placed on the Board agenda. In the event of such termination, the Board shall pay to the Superintendent, upon execution of a mutually agreeable release, severance pay pursuant to paragraph 14(b) below.
Termination by the Board without Cause. If the Optionee's employment is terminated by the Board without Cause (and not as a result of a Disability), the Optionee will be permitted to exercise any or all of his then unexercised Options during the ninety (90) day period immediately following the termination date.
Termination by the Board without Cause. Termination by the Board without Cause shall mean the Board’s removal of the Chairman from his position for any reason other than as provided in sub-sections (a), (b) and (d) of this Section 8, including, without limitation, cessation of services as Chairman in connection with the merger of the Company into another entity. In the event the Chairman is removed from his position during the Chairmanship period without Cause, the Company will continue to provide the Chairman with the remaining Chairmanship Retainer as otherwise provided for under this Agreement, and the retiree pension benefits described in Section 6 above.
Termination by the Board without Cause. The Board may terminate this Agreement at any time at its sole discretion and without cause prior to its stated termination date. In the event the Superintendent/President is involuntarily terminated by the Board without cause or a Board-approved “negotiated” settlement for voluntary resignation pursuant to Section 6.b., above, the following shall apply:
