Common use of Termination by the Company Without Cause or by Executive With Good Reason Clause in Contracts

Termination by the Company Without Cause or by Executive With Good Reason. Subject to Section 5(e) below, if Executive’s employment hereunder is terminated during the Term (I) by the Company other than for Cause (and other than due to Executive’s death or “Disability” (as defined below) or a decision by the Company not to extend the Term as provided in Section 2), or (II) by Executive with Good Reason, then Executive shall be entitled to (1) the Accrued Benefits and (2) subject to Executive’s execution of a general release of claims in the form attached hereto as Exhibit A (with such changes as may be reasonably required to such form to help ensure its enforceability in light of any changes in applicable law) (the “Release”) within twenty-one (21) days following such termination of employment, and the expiration of any revocation period with respect to such Release provided by applicable law, and provided that Executive does not materially breach the restrictive covenants set forth in Section 6 hereof or in any other agreement between Executive and the Company or to which Executive is a party (collectively, “Restrictive Covenants”) or any other ongoing obligation to which Executive is subject as of the date of termination:

Appears in 3 contracts

Samples: Employment Agreement (Hcp, Inc.), Employment Agreement (Hcp, Inc.), Employment Agreement (Hcp, Inc.)

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Termination by the Company Without Cause or by Executive With Good Reason. Subject to Section 5(e) below, if If Executive’s employment hereunder is terminated during the Term (I) by the Company (A) other than for Cause (Cause, and other than due to Executive’s death or “Disability” (as defined below) or (B) as a decision by result of the Company not to extend Company’s non-renewal of the Term as provided in Section 2)Term, or (II) by Executive with Good Reason, then Executive shall be entitled to (1) the Accrued Benefits and (2) subject to upon Executive’s execution of a general release of claims that is substantially in the form attached hereto as Exhibit A (with such changes as may be reasonably required to such form to help ensure its enforceability in light of any changes in applicable law) (the “Release”) within twenty-one (21) days following such termination unless a change in applicable law requires different language to achieve the same result as the current language would achieve if executed as of employmentthe date of this Agreement, and the expiration of any the applicable revocation period with respect to such Release provided by applicable lawwithin sixty (60) days following the date of termination, and provided that Executive does not materially breach the restrictive covenants set forth in Section 6 hereof or in any other agreement between Executive and the Company or to which Executive is a party (including, without limitation, any restricted stock agreement between the Company and Executive (collectively, “Restrictive Covenants”)) or any other ongoing obligation to which Executive is subject as of the date of termination:

Appears in 1 contract

Samples: Employment Agreement (Greenwich Kahala Aviation Ltd.)

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