TERMINATION CONSULTING Sample Clauses

TERMINATION CONSULTING. In the event of Employee's Involuntary or Voluntary Termination, Employee agrees to provide services to the Company as a consultant for a period of ninety (90) days following the completion of all severance payments (the "Consulting Period"), in exchange for cash compensation at the rate of $100 per hour. Employee shall have the right to decline to provide any consulting services requested by the Company after an Involuntary Termination or Voluntary Termination but such refusal during the period when severance payments are being made by the Company will result in the forfeiture of Employee's right to the Severance Amount hereunder. If Employee does elect to provide consulting services following the completion of the severance period, Employee shall be obligated to provide no more than ten (10) hours of consulting services per week during the Consulting Period, if and to the extent requested by the Company. Employee may determine to cease providing such consulting services to the Company at any time during the Consulting Period by providing the Company with ten days written notice.
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TERMINATION CONSULTING. In the event of Employee's VOLUNTARY TERMINATION or RETIREMENT, the Company hereby agrees to engage Employee as a consultant to the Company for a period of up to five years (the "CONSULTING PERIOD"). While the CONSULTING PERIOD will only begin after termination of employment under this Agreement, Employee shall nevertheless continue to be an "employee" of the Company for purposes of tax withholding and employee benefits (including any special or additional benefits provided to Employee by this Agreement or otherwise) during the CONSULTING PERIOD although the scope of Employee's services and responsibilities shall be diminished in such manner and amounts as may be agreed upon by the Company and Employee. During the CONSULTING PERIOD, Employee will be paid a salary equal to 50% of his annual base salary on the date of Employee's termination of employment under this Agreement. For each year or part thereof that Employee provides consulting services to the Company, Employee shall receive a retirement benefit of 25% of Employee's annual base salary at the time of Employee's VOLUNTARY TERMINATION or RETIREMENT for the same amount of time, which retirement benefit shall then be paid to Employee in accordance with the Company's existing payroll policies beginning at the end of the CONSULTING PERIOD over a period of time equal to the number of years or parts thereof that Employee provides consulting services. Employee shall have the right to decline to provide any consulting services after a VOLUNTARY TERMINATION or RETIREMENT. If Employee does elect to provide consulting services, Employee may determine to cease providing such services to the Company at any time by giving at least thirty (30) days prior written notice of such determination to the Company. The Company agrees to engage Employee to provide the consulting services for a period of not less than one (1) year after a VOLUNTARY TERMINATION or RETIREMENT but the Company may terminate such engagement at any time thereafter for good cause. For purposes hereof, "good cause" shall mean misappropriation of Company funds or property, conviction of a crime involving dishonesty or moral turpitude, or willful disregard of any directive of the Company's Board of Directors.
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TERMINATION CONSULTING. In the event of Employee's Involuntary or Voluntary Termination, Employee agrees to provide services to the Company as a consultant for a period of ninety (90) days following the termination of his employment (the "Consulting Period"), in exchange for cash compensation at the rate of $100 per hour. While the Consulting Period will only begin after termination of employment under this Agreement, if the Company elects to utilize Employee's service as a consultant during the Consulting Period by written notice on or before such termination, Employee shall nevertheless continue to be an "employee" of the Company during the Consulting Period for purposes of the Company's Tandem Stock Option and Stock Appreciation Rights Plan and Stock Bonus Plan, although the scope of Employee's services and responsibilities shall be diminished in such manner and amounts as may be agreed upon by the Company and Employee. Employee shall have the right to decline to provide any consulting services requested by the Company after an Involuntary Termination or Voluntary Termination but such refusal will result in the forfeiture of Employee's right to the Severance Amount hereunder. If Employee does elect to provide consulting services, Employee shall be obligated to provide no more than ten (10) hours of consulting services per week during the Consulting Period, if and to the extent requested by the Company. Employee may determine to cease providing such services to the Company at any time but such a determination, to the extent it is made prior to the completion of the full ninety (90) day Consulting Period, shall proportionately reduce Employee's entitlement to the Severance Amount payable hereunder.
Sample 1
TERMINATION CONSULTING. In the event of Employee's Involuntary or Voluntary Termination or Retirement, the Company hereby agrees to engage Employee as a consultant to the Company for a period of up to five years (the "Consulting Period"), in exchange for an annual salary of $1.00 per year. While the Consulting Period will only begin after termination of employment under this Agreement, Employee shall nevertheless continue to be an "employee" of the Company during the Consulting Period for purposes of the Company's Tandem Stock Option and Stock Appreciation Rights Plan and Stock Bonus Plan, although the scope of Employee's services and responsibilities shall be diminished in such manner and amounts as may be agreed upon by the Company and Employee. Employee shall have the right to decline to provide any consulting services after an Involuntary Termination, Voluntary Termination or Retirement. If Employee does elect to provide consulting services, Employee may determine to cease providing such services to the Company at any time by giving at least fifteen (15) days prior written notice of such
Sample 1

Related to TERMINATION CONSULTING

  • Consulting Arrangement At the Company’s option, the Company and Employee will enter into a consulting arrangement for a period of six (6) months from the date of such termination the “Consulting Period”), which arrangement will provide for (A) payment by the Company based upon a full-time monthly rate equal to 100% of Employee’s monthly base salary as of the date of such termination and (B) such other terms of service as shall be negotiated in good faith by the Company and Employee; provided, however, that if the Company determines not to enter into the negotiation of a consulting arrangement, or the Company and Employee cannot, following good-faith negotiation, agree upon the terms of such consulting arrangement, then promptly following such determination or the termination of such negotiations, as the case may be, Employee will be paid a lump-sum amount of cash equal to six (6) months of Employee’s base salary as of the date of such termination, less applicable withholding; provided further, however, that if during the Consulting Period Employee engages in Competition or breaches the covenants in Section 6 or in the separation agreement and release of claims, all payments pursuant to this subsection will immediately cease.

  • Employment and Consulting Agreements Xxxxxxx X. Xxxx and Xxxx X. Xxxxxx shall have executed and delivered employment agreements with BRI, and Xxxxxx Xxxx shall have executed and delivered a Consulting Agreement with BRI.

  • Agreement Termination In the event Contractor is unable to fulfill its responsibilities under this Agreement for any reason whatsoever, including circumstances beyond its control, County may terminate this Agreement in whole or in part in the same manner as for breach hereof.

  • Consulting If the Executive agrees to the provisions of Section 14(e) above, then the Executive shall have the obligation to provide consulting services to the Company as an independent contractor, commencing on the Date of Termination and ending on the second anniversary of the Date of Termination (the “Consulting Period”). The Executive shall hold himself available at reasonable times and on reasonable notice to render such consulting services as may be so assigned to him by the Board or the Company’s then Chief Executive Officer; provided, however, that unless the parties otherwise agree, the consulting services rendered by the Executive during the Consulting Period shall not exceed twenty (20) hours each month; and, provided, further, that the consulting services rendered by the Executive during the Consulting Period shall in no event exceed twenty percent (20%) of the average level of services performed by the Executive for the Company over the thirty-six (36) month period immediately preceding the Executive’s Separation from Service (or the full period of services to the Company, if the Executive has been providing services to the Company for less than thirty-six (36) months). The Company agrees to use its best efforts during the Consulting Period to secure the benefit of the Executive’s consulting services so as to minimize the interference with the Executive’s other activities, including requiring the performance of consulting services at the Company’s offices only when such services may not be reasonably performed off-site by the Executive.

  • Termination of Employment Agreement As of the Effective Date, the Employment Agreement hereby is terminated in its entirety and shall no longer have any force or effect.

  • Compensation for Consulting Services For each quarter (i.e., three-month period) that Executive provides consulting services to MediciNova pursuant to the option of MediciNova contained in Section 9 above, MediciNova shall pay Executive a sum equal to fifteen percent (15%) of Executive’s annual Base Compensation which shall be applicable at the time of Executive’s termination of employment with MediciNova (prorated for any period of less than a quarter). The parties expressly agree that when Executive is performing consulting services for MediciNova, Executive is acting as an independent contractor. Therefore, Executive shall be solely liable for Social Security and income taxes that result from Executive’s compensation as a consultant. In addition, Executive shall not be entitled to any other benefits including, without limitation, such group medical, life and disability insurance and other benefits as may be provided to employees and/or executives of MediciNova.

  • Consulting Agreements Buyer shall have entered into the Consulting Agreements with the Shareholders.

  • Consulting Period The Consulting Relationship will be deemed to have commenced on the Separation Date and will continue until October 15, 2023 unless the Consulting Relationship has already been terminated earlier pursuant to Section 3(g) below (the “Consulting Period”).

  • Consulting Agreement Effective upon Executive’s termination of employment for any reason other than Executive’s termination by the Company for Cause, HCC hereby retains Executive as a consultant (an independent contractor and not as an employee) for a period of five (5) years (the “Consulting Period”). During the Consulting Period, Executive shall serve as Non-Executive Chairman of the Board. Termination of the Term shall not effect the Parties’ rights and obligations under this Section 6, subject to the following: Executive agrees to provide, if requested, 1,000 hours of service (the “Consulting Services”) per year, as required by the Company. Prior to a Change of Control, the Company shall use its best effort to cause Executive to continue as a Director and Chairman of the Board during the term of the Consulting Period. HCC shall pay Executive $450,000 per year of the Consulting Period, payable quarterly, in advance. Executive may elect to delay payment for services, but not the services themselves. During such Consulting Period, Executive shall receive, to the extent permitted by law and the terms of any existing plan, all of the Company’s benefits as if Executive was a full time employee. In addition, the terms of this Section 6 shall remain in full force and effect whether or not Executive dies or suffers a Disability pursuant to the terms hereof during the Consulting Period. Further, if at any time during the Term of this Agreement Executive shall elect, at his sole option, to cease being a full time employee, then and in that event, Executive shall become a consultant pursuant to the terms of this Section. During the Consulting Period, Executive shall have the right to the same benefits for the same purposes and to the same extent as were in effect during the term of this Agreement, provided, however, if Executive ceases to be the Executive Chairman, Executive shall no longer receive Deferred Compensation. The Consulting Services to be provided shall be commensurate with Executive’s training, background, experience and prior duties with the Company Executive shall receive such stock options or cash bonuses as the Compensation Committee, in its sole discretion shall determine. Executive agrees to make himself reasonably available to provide such Consulting Services during the Consulting Period; provided, however, the Company agrees that it shall provide reasonable advance notice to Executive of its expected consulting needs and any request for Consulting Services hereunder shall not unreasonably interfere with Executive’s other business activities and personal affairs as determined in good faith by Executive. In addition, Executive shall not be required to perform any requested Consulting Services which, in Executive’s good faith opinion, would cause Executive to breach any fiduciary duty or contractual obligation Executive may have to another employer. Further, during the Consulting Period, Executive shall not be subject to any non-competition provisions except for the two-year period provided for in Section 5(c). Unless waived by Executive, Executive shall not be required to perform Consulting Services for more than four (4) days during any week or for more than eight (8) hours during any day. Executive’s travel time shall constitute hours of Consulting Services for purposes of this Section 6. The Parties contemplate that, when appropriate, the Consulting Services shall be performed at Executive’s office or residence and at the Company’s executive offices in Houston, Texas and may be performed at such other locations only as they may mutually agree upon. Executive shall be properly reimbursed for all travel and other expenses reasonably incurred by Executive in rendering the Consulting Services.

  • Engagement of Consultant The Company hereby engages Consultant to ------------------------- assist the Company in programming services.

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