Common use of Termination for Cause or Voluntary Termination Without Good Reason Clause in Contracts

Termination for Cause or Voluntary Termination Without Good Reason. If the Executive’s employment shall be terminated for Cause during the Employment Period, this Agreement shall terminate without further obligations to the Executive other than the obligation to pay to the Executive (x) his Annual Base Salary through the Date of Termination and (y) Other Benefits, in each case to the extent theretofore unpaid. If the Executive voluntarily terminates employment during the Employment Period, excluding a termination for Good Reason, this Agreement shall terminate without further obligations to the Executive, other than for Accrued Obligations and the timely payment or provision of Other Benefits. In such case, all Accrued Obligations shall be paid to the Executive in a lump sum in cash within 30 days after the Date of Termination.

Appears in 2 contracts

Samples: Change of Control Employment Agreement (Schering Plough Corp), Change of Control Employment Agreement (Schering Plough Corp)

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Termination for Cause or Voluntary Termination Without Good Reason. If the Executive’s 's employment shall be is terminated for Cause during the Employment Period, this Agreement shall terminate without further obligations to the Executive other than the obligation to pay to the Executive (x) his Annual Base Salary through the Date of Termination Termination, (y) the amount of any compensation previously deferred by Executive, and (yz) Other Benefits, in each case to the extent theretofore unpaid. If the Executive voluntarily terminates employment during the Employment Period, excluding a termination for Good Reason, this Agreement shall terminate without further obligations to the Executive, other than for Accrued Obligations and the timely payment or provision of Other Benefits. In such case, all Accrued Obligations shall be paid to the Executive in a lump sum in cash within 30 days after of the Date of Termination.

Appears in 1 contract

Samples: Employment Agreement (Irt Property Co)

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Termination for Cause or Voluntary Termination Without Good Reason. If the Executive’s 's employment shall be terminated for Cause during the Employment Period, this Agreement shall terminate without further obligations to the Executive other than the obligation to pay to the Executive (x) his Annual Base Salary through the Date of Termination Termination, (y) the amount of any compensation previously deferred by Executive, and (yz) Other Benefits, in each case to the extent theretofore unpaid. If the Executive voluntarily terminates employment during the Employment Period, excluding a termination for Good Reason, this Agreement shall terminate without further obligations to the Executive, other than for Accrued Obligations and the timely payment or provision of Other Benefits. In such case, all Accrued Obligations shall be paid to the Executive in a lump sum in cash within 30 days after of the Date of Termination.

Appears in 1 contract

Samples: Employment Agreement (Irt Property Co)

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