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

Termination by the Executive other than for Good Reason. The Executive may terminate his employment on 30 days' written notice given to the Company. If the Executive terminates his employment and the termination is not covered by Section 4 or 5.2, the Executive shall receive (i) Annual Salary and other benefits earned under this Agreement but unpaid prior to the termination of the Executive's employment (but excluding any bonuses not yet paid), (ii) payment in respect of accrued but unused vacation time prior to the termination of the Executive's employment and (iii) reimbursement for expenses properly incurred prior to the termination of the Executive's employment. In such event, the Executive shall have no further rights to any other compensation or benefits hereunder on or after the termination of employment, or any other rights hereunder or under the MRP and the DRP, except as required by law.

Appears in 5 contracts

Samples: Employment Agreement (Efficient Networks Inc), Employment Agreement (Efficient Networks Inc), Employment Agreement (Efficient Networks Inc)

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Termination by the Executive other than for Good Reason. The Executive may terminate his employment on at least 30 days' and not more than 60 days' written notice given to the Company. If the Executive terminates his employment and the termination is not covered by Section 4 or 5.2, (i) the Executive shall receive (i) Annual Salary and other benefits earned under this Agreement but unpaid prior to the termination of (but, in all events, and without increasing the Executive's employment (but rights under any other provision hereof, excluding any bonuses not yet paid), (ii) payment in respect of earned and accrued but unused vacation time under this Agreement prior to the termination of the Executive's employment (and (iii) reimbursement under this Agreement for expenses properly incurred prior to the termination of the Executive's employment. In such event, ); and (ii) the Executive shall have no further rights to any other compensation or benefits hereunder on or after the termination of employment, or any other rights hereunder or under the MRP and the DRPhereunder, except as required by law.

Appears in 3 contracts

Samples: Employment Agreement (Unisphere Solutions Inc), Employment Agreement (Unisphere Networks Inc), Employment Agreement (Unisphere Solutions Inc)

Termination by the Executive other than for Good Reason. The Executive may terminate his employment on at least 30 days' and not more an 60 days' written notice given to the Company. If the Executive terminates his employment and the termination is not covered by Section 4 or 5.2, (i) the Executive shall receive (i) Annual Annul Salary and other benefits earned under this Agreement but unpaid prior to the termination of its (but, in all events, and without increasing the Executive's employment (but rights under any other provision hereof, excluding any bonuses not yet paid), (ii) payment in respect of earned and accrued but unused vacation time under this Agreement prior to the termination of the Executive's employment (and (iii) reimbursement under this Agreement for expenses properly incurred prior to the termination of the Executive's employment. In such event, ); and (ii) the Executive shall have no further rights to any other compensation or benefits hereunder on or after the termination of employment, or any other rights hereunder or under the MRP and the DRPhereunder, except as required by law.

Appears in 1 contract

Samples: Employment Agreement (Unisphere Solutions Inc)

Termination by the Executive other than for Good Reason. The Executive may terminate his employment on 30 days' written notice given to the Company. If the Executive terminates his employment and the termination is not covered by Section 4 or 5.2, the Executive shall receive (i) Annual Salary and other benefits earned under this Agreement but unpaid prior to the termination of the Executive's employment (but excluding any bonuses not yet paid), (ii) payment in respect of accrued but unused vacation time prior to the termination of the Executive's employment and (iii) reimbursement for expenses properly incurred prior to the termination of the Executive's employment. In such event, the Executive shall have no further rights to any other compensation or benefits hereunder on or after the termination of employment, or any other rights hereunder (including rights to the Option Payment) or under the MRP and the DRP, except as required by law.

Appears in 1 contract

Samples: Employment Agreement (Efficient Networks Inc)

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Termination by the Executive other than for Good Reason. The Executive may terminate his employment on 30 days' written notice given to the Company. If the Executive terminates his employment and the termination is not covered by Section 4 or 5.2, the Executive shall receive (i) Annual Salary and other benefits earned under this Agreement but unpaid prior to the termination of the Executive's employment (but excluding any bonuses not yet paid), (ii) payment in respect of accrued but unused vacation time prior to the termination of the Executive's employment and (iii) reimbursement for expenses properly incurred prior to the termination of the Executive's employment. In such event, the Executive shall have no further rights to any other compensation or benefits hereunder on or after the termination of employment, or any other rights hereunder or under the MRP and the DRPMRP, except as required by law.

Appears in 1 contract

Samples: Employment Agreement (Efficient Networks Inc)

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