Termination of Employment by the Company. During the Term, the Company may terminate the Executive's employment at any time with or without Cause (as defined below) pursuant to the Notice of Termination provision below.
Termination of Employment by the Company. The compensation provided for in Section 3 of this Agreement and Executive's employment by the Company may be terminated by the Company prior to expiration of the term set forth in Section 1(b) as provided for below:
Termination of Employment by the Company. Without Cause or By the Executive for Good Reason (other than following a Change of Control). If, before the end of the Contract Term, unless such event follows a Change of Control, the Executive's employment is terminated by the Company without Cause or by the Executive for Good Reason (as that term is defined in the following Section 1.4), the Executive shall receive the following:
(a) In a lump sum, that portion of the Executive's annual base salary which is accrued but unpaid as of the Date of Termination and any unpaid Annual Bonus applicable to any Annual Bonus Period which ended prior to the Date of Termination;
(b) In monthly payments, the amount of the Executive's annual base salary (not taking into account any reductions which would constitute Good Reason) which would be payable for the period beginning on the Date of Termination and ending on the date that is one (1) year following the Date of Termination;
(c) Following the Annual Bonus Period during which the Date of Termination occurs and in accordance with Company policy, a pro rata portion of the Annual Bonus applicable to such Annual Bonus Period based upon actual performance for the Annual Bonus Period (such pro rata bonus shall be based on the portion of such Annual Bonus Period that expired prior to the Date of Termination, shall be payable following such Annual Bonus Period in accordance with Company policy and shall be determined without regard to any reduction in earnings on account of interest paid on additional debt incurred by the Company in connection with any Change in Control); and
(d) During the period in which the Executive is receiving the payments set forth in subsection 1.3(b) above, the employee benefits to which the Executive was entitled during the Contract Term. The employee benefits to which the Executive is entitled hereunder shall include the continued use of a Company vehicle. The Executive will not be entitled to participate in the Company's 401(k) plan, employee stock ownership plan, or similar retirement savings plan following the Date of Termination. The amount of any employee benefits payable under this Section 1.3(d) and the use of the Company vehicle shall be reduced or eliminated to the extent the Executive becomes entitled to duplicative benefits by virtue of his/her subsequent employment after the Date of Termination.
Termination of Employment by the Company. The Company may terminate the Employee’s employment without Cause or for Disability, upon written notice to the Employee, subject to applicable law. The Company may terminate the Employee’s employment for Cause in accordance with the terms of the Severance Plan. If the Employee dies while employed by the Company, all obligations of both parties will immediately terminate (except as set forth herein or in the Severance Plan).
Termination of Employment by the Company. 13.1 The Company may terminate the Employee's employment and this Agreement at any time upon 14 days' written notice to the Employee. At the Company's discretion, the Employee will continue to perform his duties and will be paid his regular salary up to the date of termination; or the Company will pay the Employee severance pay in accordance with the labour laws of British Columbia, less applicable Government Deductions and Benefit Deductions. -------------------------------------------------------------------------------- EDUVERSE Accelerated Learning Systems (Canada), Inc. Employment Agreement Page 3 of 7 ----- -------- EDUV Employee
13.2 Notwithstanding anything to the contrary contained in this Agreement, the Company may (provided that the Common Shares of the Company have not been the subject of a successful takeover bid) terminate the Employee's employment upon 14 days' notice to the Employee without payment of any severance allowance should any of the following events occur:
(a) The Company's decision to terminate its business and liquidate its assets; or
(b) Bankruptcy or reorganization of the Company to protect its assets from creditors.
13.3 Notwithstanding anything to the contrary contained in this Agreement; the Company may terminate the Employee's employment without notice and/or severance, if the Employee commits any of the following:
(a) an act of fraud, dishonesty, negligent performance of employment duties or the dereliction of employment duties;
(b) a breach of the terms of this Agreement or the Confidentiality and Non-Competition Agreement, which breach is not fully corrected by the Employee within 5 days of notice from the Company; or
(c) any act or omission which constitutes "just cause" for dismissal under the laws of British Columbia.
Termination of Employment by the Company. Notwithstanding any other provision of this Agreement, Employee's employment and any and all of the Company's obligations or liabilities under this Agreement shall be terminated immediately, in any of the following circumstances:
Termination of Employment by the Company. The Employee’s employment hereunder may be terminated by the Company under the following circumstances:
(i) The Employee’s employment hereunder shall terminate upon his death and may be terminated by the Company in the event of his Disability. For purposes of this Agreement, the term “Disability” shall mean the inability of the Employee due to illness (mental or physical), accident, or otherwise, to perform his duties for any period of one hundred twenty (120) consecutive days, as determined by an independent physician selected by the Company and reasonably acceptable to the Employee (or his legal representative), provided that the Employee does not return to work on substantially a full-time basis for at least five (5) consecutive business days within thirty (30) days after Notice of Termination is given by the Company pursuant to the provisions of Sections 9 (c) and 9 (d) (ii).
(ii) The Company may terminate the Employee’s employment hereunder for Cause. “Cause” shall be defined to include (i) any willful breach of the material terms of this Agreement; (ii) any willful breach of any material duty of employment assigned to the Employee pursuant to this Agreement other than a breach relating to an assignment that would constitute the basis for the Employee’s submitting a Notice of Termination for “Good Reason” pursuant to Section 9(b) of this Agreement; (iii) material refusal to perform the duties of employment assigned to Employee pursuant to this Agreement other than a refusal relating to an assignment that would constitute the basis for the Employee’s submitting a Notice of Termination for “Good Reason” pursuant to Section 9(b) of this Agreement; (iv) theft or embezzlement of a material amount of the Company’s property; (v) fraud or (vi) indictment for criminal activity not including minor misdemeanor traffic offenses.
Termination of Employment by the Company. The Employee's employment hereunder may be terminated by the Company without any breach of this Agreement only under the following circumstances:
Termination of Employment by the Company. For Cause". The Company shall have the unrestricted right, but not the obligation, to terminate the Employment at any time "For Cause" in the event of the Employee's: (i) willful and repeated neglect of his duties hereunder (other than as a result of a physical disability not related to substance abuse), (ii) conviction of a crime involving moral turpitude, (iii) commission of any act of fraud or dishonesty against the Company, or (iv) breach of the Employee's obligations hereunder or under the Proprietary Information and Inventions Agreement which, if curable, is not cured within ten (10) days following notice thereof by the Company. The decisions to terminate the Employment For Cause, to take other action or to take no action in response to such occurrence shall be in the sole and exclusive discretion of the Company. Upon any termination of the Employment by the Company For Cause, the Employee shall be entitled to receive: (A) the Employee's base salary through the date of such termination, plus (B) any bonus Award earned by the Employee as of the date of termination of the Employment pursuant to Paragraph 2.2 hereof but not yet paid, plus any other benefits to which the Employee is entitled pursuant to the plans described in Paragraphs 2.3 and 2.7 hereof.
Termination of Employment by the Company. The Executive’s employment hereunder may be terminated by the Company or any of its Subsidiaries that employ the Executive for any reason or no reason (including with or without Cause or notification by the Company at any time during the Employment Term pursuant to Section 2 that the Company intends to terminate the Agreement and the Executive’s employment, rather than allow the Agreement to renew automatically) by written notice as provided in Section 17. If the Company terminates the Executive’s employment with Cause, all of the Executive’s Option Rights, whether or not vested, will be immediately forfeited. Stock Options, if any, held by the Executive following termination of the Executive’s employment with the Company or any of its Subsidiaries, shall remain exercisable in accordance with their terms.
