Termination by University Without Cause. Notwithstanding any provision of the Code to the contrary, at any time after commencement of this Agreement, the University may terminate this Agreement without cause by giving ten (10) days’ written notice to the Employee, such termination to become effective no earlier than ten (10) days after receipt of such written notice. In the event the University terminates this Agreement without cause, the University shall pay to the Employee, as liquidated damages, an amount equal to the Employee’s Base Salary for the period remaining in the Term of this Agreement, to be paid on a monthly basis prorated over the remainder of the Term of this Agreement, or in accordance with a payment schedule agreed upon by the parties in writing. The University shall not be liable for any consequential damages or loss of any collateral business opportunities or any other benefits, perquisites, or income from any sources that might ensue as a result of the University’s termination of this Agreement without cause and Employee hereby expressly waives any such claims against the University, it officers, employees and agents. The parties have bargained for and agreed to the foregoing liquidated damages provision, giving consideration to the fact that the Employee may lose certain benefits, supplemental compensation or outside compensation relating to Employee’s employment at the University, which damages are extremely difficult to determine with certainty, or fairly or adequately. The parties further agree that payment of such liquidated damages by the University and acceptance thereof by the Employee shall constitute adequate and reasonable compensation to the Employee for damages and injury suffered because of such termination by the University. The foregoing shall not be, nor be construed to be, a penalty.
Termination by University Without Cause. (a) The University may terminate the Interim President’s employment as interim president at any time without cause upon no less than sixty (60) calendar days' prior written notice to the Interim President.
(b) If the University terminates the Interim President’s employment as interim president without cause:
1. Interim President agrees to accept liquidated damages as specified in this Section in complete satisfaction of and as payment in full for all obligations, if any, due and owing by University to her under this Agreement. In the event of either a termination without cause or the effective date of a new President’s appointment arrives during the first nine months of the Term, the University shall pay Interim President as liquidated damages the remaining months of her then- current Annual Base Salary and Base Salary Supplement (“Severance Pay”) up to nine months. Severance Pay is payable in equal monthly installments, per usual payroll procedure and timing and subject to all applicable withholdings.
2. The Interim President is entitled to all other benefits vested before termination in accordance with the terms of any applicable benefit plans and programs of the University described in Section 4.9.
3. The Interim President is entitled to reimbursement for previously incurred and approved expenses.
4. Interim President agrees that as a condition of receiving any Severance Pay as set forth in this Section 11.2, except for compensation, benefits or expense reimbursement accrued prior to the effective date of termination, Interim President must execute a general release of all claims in a form proscribed by the Board and return the release to the University within twenty-one (21) days of delivery by the University. If Interim President fails to provide the University with a signed release within 21 days of Interim Presidents’ receipt, or if Interim President thereafter revokes such release during its stated revocation period, Interim President shall forfeit any right to Severance Pay hereunder.
5. If at any time during the period that University is obligated to make severance payments to Interim President, amounts paid as Severance Pay shall be reduced by any amounts University pays to Interim President as salary as a Professor.
6. If in the interest of the University, Interim President may be reassigned to other duties until the effective date of the termination.
7. Under no circumstance will the University be liable for the loss of any collateral business...
Termination by University Without Cause. 12.1 University may, in its sole discretion, terminate this Agreement without cause at any time upon written notice to COACH; provided, however, that, in the event of such a termination without cause, University’s sole financial obligation shall be limited to paying COACH the annual salary set forth in Section 2.1 multiplied by the number of full and partial contract years remaining in the current term. In the event University exercises its right to terminate the Agreement without cause, University shall not be obligated to pay COACH any other compensation or perquisites described in the Agreement or be responsible for consequential damages, including but not limited to any loss of business opportunities or loss of other income, benefits, or perquisites from any sources, that might occur as a result of such termination. Payment of the total amount due under this paragraph shall occur over the remaining term of the Agreement as follows:
1) Within thirty (30) days of the effective date of termination without cause, payment shall be made for amounts due with respect to the remainder of that contract year, and 2) payments due hereunder with respect to each subsequent year shall be made on the last day of such subsequent contract year, until all amounts due under this paragraph 8.0 have been paid in full. A “contract year” is July 1 through June 30.
12.2 Notwithstanding the provisions of paragraph 12.1, COACH shall, from the date of termination and through the remainder of the term set forth in paragraph 1.0 above, mitigate payments due from University pursuant to paragraph 12.1 by making every reasonable effort to secure compensation through employment other than at University. If COACH obtains new employment, University’s financial obligations under paragraph
12.4 If COACH’s compensation in any new position exceeds that which COACH would have been paid at University as set forth in Section 2.1, then University’s financial obligations under Section 12.1 shall cease.
12.5 The exercise of the option to terminate this Agreement without cause under Section
Termination by University Without Cause. 1. The University shall have the right to terminate this Agreement without Cause and at any time upon written notice to the Employee of such termination. In the event of such notice of termination pursuant to this subsection V.E., the University will pay to Employee an amount, less required deductions and applicable withholdings for federal, state, and local taxes, equal to either:
(i) twenty (20) weeks of Employee's Base Salary and Additional Compensation as set forth in Section III.A. and III.B. of this Agreement or (ii) the Base Salary and Additional Compensation due and owing to Employee for the remaining days of the Total Term of this Agreement (“Total Term Remaining”), whichever time period is shorter. Upon notice to the Employee by University of its election to terminate pursuant to this subsection V.E., the Employee shall be obligated to mitigate the University's financial obligation by immediately utilizing his best efforts to obtain full-time employment elsewhere, and in the event that the Employee secures such employment, the amount due the Employee under the terms of this subsection V.E. shall be reduced on a dollar-for-dollar basis by the amount earned by the Employee in such new employment during the Total Term remaining under subsection II.A. of this Agreement. The amount payable by University under the terms of this subsection V.E. will be paid in equal bi-weekly payments, prorated over the Total Term remaining, with the first payment hereunder commencing with the next pay date following two weeks after either (i) notice to the Employee by the University, or (ii) the Employee's last day of work, whichever is later. Notwithstanding the forgoing, if it is in the best interest of the University, the University may, in its sole discretion, elect to prorate payments due Employee under this subsection, V.E., over a shorter time period. Further, upon such notice of termination by the University pursuant to this subsection V.E., all other financial and other obligations to the Employee by the University will immediately cease, except to pay the Employee such amounts due him as having already been earned as of the date of such notice and any leave payout to which Employee is entitled. Any such sick and annual leave payout will be made, if applicable, pursuant to section 110.122, Florida Statutes, University Regulations, the University's policies and procedures, and Office of Human Resources practices.
2. In the event the Total Term of this Agreement...
Termination by University Without Cause. The University reserves the right to terminate your employment without cause for its own convenience at any time. In the event you are terminated without cause, University will pay you liquidated damages in an amount equal to eighty-five percent (85%) the total remaining compensation due to you through the end of the otherwise unexpired Term, less required deductions and applicable withholdings for federal, state and local taxes. The payments will be made on a monthly basis over the remaining term of the contract. However, the University will engage in a good faith discussion and review regarding the applicability of Internal Revenue Code §409A to such guarantee payment structure, and pending such review, agrees to make any necessary accommodations in such payment structure to comply with §409A. The University’s obligation shall be subject to a mitigation offset in the event you secure subsequent employment prior to University’s full satisfaction of such payments.
Termination by University Without Cause. The University shall have the right to terminate this Employment Agreement prior to its normal expiration, as provided in paragraph 2.1 above, without cause. Termination “without cause” shall mean termination of this Agreement on any basis other than those set forth in paragraphs 6.1 and 6.2, above. Termination by the University shall be effective upon delivering to Lamb written notice of the University’s intent to terminate this Agreement thirty (30) days after Lamb’s receipt of such notice. If the University exercises its right to terminate this Agreement without cause, Lamb agrees that he shall be entitled to damages only as provided below:
6.3.1 If the University terminates this Agreement without cause prior to its expiration, the University shall pay to Lamb, as liquidated damages, a sum representing the unpaid balance of base salary and benefits due under Section 3.1 of this Agreement. The University’s obligation shall be paid by continuing the regular periodic payroll schedule over the remaining term of this Agreement and shall be subject to Lamb’s duty to mitigate the University’s obligation. In no case shall the University be liable for the loss of any elective or external collateral business opportunities or any other benefits, perquisites or income resulting from activities that may ensue as a result of the University’s termination of this Agreement without cause.
6.3.2 The parties have bargained for and agreed to the foregoing liquidated damages provision, giving consideration to the fact that termination of this Agreement by the University without cause prior to its natural expiration may cause Lamb to lose certain elective or external compensation relating to his employment at the University, which damages are extremely difficult to determine fairly, adequately, or with certainty. The parties further agree that the payment of such liquidated damages by the University and acceptance thereof by Lamb shall constitute adequate and reasonable compensation to Lamb for the damages and injury suffered by Lamb because of such termination. The foregoing is not intended or understood to be, nor should it be construed to be, a penalty.
Termination by University Without Cause. A. In the event University terminates this Agreement without cause (other than as provided in paragraphs 8 and 9.A above), University shall pay Coach Xxxxx 100% of the Base Salary (Section 5. A.), Radio and Television Money (Section 5. B.), Appearance Fees, Public Speaking Engagements and Fundraising (Section 5.C.), Deferred Compensation (Section 5. E.) and Outfitter Payments (Section 7) and Incentive Based Compensation earned but not yet paid (collectively, “Total Annual Compensation”) as if the Agreement were not terminated. These sums shall be paid as liquidated damages for Coach Xxxxx’x lost revenue and shall be paid to Coach Xxxxx in monthly installments through the remainder of the Term.
B. The Parties have bargained for and agreed to the foregoing liquidated damages provision, giving consideration to the fact that Coach Xxxxx will lose certain benefits (including health insurance and other benefits set forth in Paragraph 6 above), and may lose additional supplemental compensation and benefits outside of University employment, which damages are extremely difficult to determine with certainty or fairly or adequately. The Parties agree that the liquidated damages provided for are not a penalty but are adequate and reasonable compensation to Coach Xxxxx for any damages suffered because of the termination of this Agreement.
C. Notwithstanding the foregoing damages provisions, Coach Xxxxx agrees to use good faith efforts to mitigate University’s obligations to pay damages by making reasonable and diligent efforts to obtain employment as a head or assistant basketball coach. After Coach Xxxxx obtains such employment, University’s financial obligations under this Agreement, including damages, shall cease or be limited to the difference between the liquidated damages being paid pursuant to this Agreement and compensation at his new employment.
D. Continued payment of the damages set forth in this section are contingent upon Coach Xxxxx’x maintaining a positive public message concerning the University, the Athletics Department, the Basketball Program, and the University’s employees. Should Coach Xxxxx engage in disparaging and/or negative public remarks regarding the same after termination of this Agreement, the University’s continuing obligation to pay damages under this section shall cease.
Termination by University Without Cause. The University reserves the right to terminate this Agreement prior to its normal expiration without cause. Termination by the University without cause shall be effectuated by delivering to the Employee written notice, signed by the President of the University or by the Athletic Director or such other person as the President may designate, of the University's intent to terminate this Agreement without cause. In such event, University will pay the Employee liquidated damages, in lieu of any and all other legal remedies or equitable relief.
Termination by University Without Cause. If the Executive’s employment hereunder is terminated by the University (including within the meaning of any of subsections 8(a)(i)-(iii) herein) for any reason other than for Cause (as defined in Section 9(d) herein) during the Employment Term, the University shall be obligated to pay to the Executive the following termination payments and make available the following benefits:
Termination by University Without Cause. Notwithstanding Section 3 of this Agreement, the University may terminate this Agreement at any time, without cause, by providing Gosha with up to twenty (20) weeks written notice of such termination. If, at the time the University desires to terminate without cause, there is less than twenty (20) weeks remaining on the Term, the required notice will be reduced to the period remaining in the Term. In the event this agreement is terminated by the University without cause, Gosha’s employment with the University shall cease on the effective date of the termination (i.e., the end of the requirement notice period) and after the effective date of termination, Gosha shall be entitled to compensation only for the period of time employed prior to the date of the termination. During the notice period, Gosha may be assigned to any other position for which Gosha is qualified to perform. Notwithstanding any other provision of this Agreement, during the notice period Gosha’s compensation shall be fixed at his annual base salary (as defined in Section 5.A) in effect on the date that the notice of termination is delivered. No further compensation, benefits, or obligations, including, but not limited to bonuses, lump sum or base salary increases, performance or other benefit payments, or any benefits set forth in Section 5 of this Agreement, will be due and owing from either party, except as required by law. Notwithstanding any other provisions of this Agreement and in no circumstances shall the University’s liability, if any, exceed that which is prescribed in Section 215.425, Fla. Statutes, less required deductions and applicable withholdings for federal, state, and local taxes.
