Common use of Termination for Cause and Voluntary Termination Clause in Contracts

Termination for Cause and Voluntary Termination. You shall have no right to receive any severance pay or severance benefit for any period after the date of the termination by the Company of your employment for Cause or, except as otherwise provided in Section 1, following the voluntary termination by you of your employment. Notwithstanding the foregoing, in such event, nothing in this Section 5 shall affect any amounts or other consideration you are entitled to receive under your outstanding Restricted Stock Unit ("RSU") awards at the time of such termination, if any, and such RSU awards are subject to, and governed by, their own terms.

Appears in 3 contracts

Samples: Severance Agreement (Sturm Ruger & Co Inc), Severance Agreement (Sturm Ruger & Co Inc), Severance Agreement (Sturm Ruger & Co Inc)

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Termination for Cause and Voluntary Termination. You shall have no right to receive any severance pay or severance benefit for any period after the date of the termination by the Company of your employment for Cause or, except as otherwise provided in Section 1, following the voluntary termination by you of your employment. Notwithstanding the foregoing, in such event, nothing in this Section 5 herein shall affect any amounts or other consideration equity awards you are entitled to receive under your outstanding Restricted Stock Unit ("β€œRSU"”) awards in place at the time of such termination, if any, and such RSU awards are subject to, and governed by, their own terms.

Appears in 1 contract

Samples: Severance Agreement (Sturm Ruger & Co Inc)

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