Common use of Termination for Cause by Employer, Termination for Any Reason by Employee, Termination on Account of Death Clause in Contracts

Termination for Cause by Employer, Termination for Any Reason by Employee, Termination on Account of Death. If Employer terminates Employee’s employment for Cause or if Employee terminates his employment for any reason, or if the Employee’s employment is terminated on account of his death, the Employer shall pay the Employee his full base salary through the Date of Termination at the rate in effect at the time Notice of Termination is given. No Notice of Termination is required hereunder in the event of Employee’s death, and the foregoing amounts shall be determined on the date of death.

Appears in 3 contracts

Samples: Employment Agreement (HomeTown Bankshares Corp), Employment Agreement (HomeTown Bankshares Corp), Employment Agreement (HomeTown Bankshares Corp)

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Termination for Cause by Employer, Termination for Any Reason by Employee, Termination on Account of Death. If Employer terminates Employee’s employment for Cause or if Employee terminates his her employment for any reason, or if the Employee’s employment is terminated on account of his her death, the Employer shall pay the Employee his her full base salary through the Date of Termination at the rate in effect at the time Notice of Termination is given. No Notice of Termination is required hereunder in the event of Employee’s death, and the foregoing amounts shall be determined on the date of death.

Appears in 1 contract

Samples: Employment Agreement (HomeTown Bankshares Corp)

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Termination for Cause by Employer, Termination for Any Reason by Employee, Termination on Account of Death. If Employer terminates Employee’s 's employment for Cause or if Employee terminates his employment hereunder for any reason, or if the Employee’s 's employment is terminated on account of his death, the Employer shall pay the Employee his full base salary through the Date of Termination at the rate in effect at the time Notice of Termination is given. No Notice of Termination is required hereunder in the event of Employee’s 's death, and the foregoing amounts shall be determined on the date of death.

Appears in 1 contract

Samples: Employment Agreement (Mainstreet Bankshares Inc)

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