Common use of Termination by the Executive for Good Reason or by the Employer Without Cause Clause in Contracts

Termination by the Executive for Good Reason or by the Employer Without Cause. If the Executive terminates this Agreement For Good Reason, or if the Employer terminates the Employee without Cause, the Employer will pay the Executive (i) the Executive’s Salary for the remainder, if any, of the calendar month in which such termination is effective and for twelve (12) consecutive calendar months thereafter, and (ii) the Executive’s Bonuses, if any, for the Fiscal Year during which the termination is effective, prorated through the date of termination and for a period of six (6) months thereafter.

Appears in 2 contracts

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

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Termination by the Executive for Good Reason or by the Employer Without Cause. If the Executive terminates this Agreement For Good Reason, or if the Employer terminates the Employee without Cause, the Employer will pay the Executive (i) the Executive’s 's Salary for the remainder, if any, of the calendar month in which such termination is effective and for twelve (12) consecutive calendar months thereafter, and (ii) the Executive’s 's Bonuses, if any, for the Fiscal Year during which the termination is effective, prorated through the date of termination and for a period of six (6) months thereafter.

Appears in 1 contract

Samples: Employment Agreement (Znergy, Inc.)

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Termination by the Executive for Good Reason or by the Employer Without Cause. If the Executive terminates this Agreement For Good Reason, or if the Employer terminates the Employee without Without Cause, the Employer will pay the Executive (i) the Executive’s 's Salary for the remainder, if any, of the calendar month in which such termination is effective and for twelve six (126) consecutive calendar months thereafter, and (ii) that portion of the Executive’s Bonuses's Incentive Compensation, if any, for the Fiscal Year during which the termination is effective, prorated through the date of termination and for a period of six (6) months thereaftertermination.

Appears in 1 contract

Samples: Employment Agreement (Innovative Software Technologies Inc)

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