Common use of TERMINATION OF EMPLOYMENT BY THE EXECUTIVE FOR GOOD REASON OR BY THE COMPANY WITHOUT CAUSE Clause in Contracts

TERMINATION OF EMPLOYMENT BY THE EXECUTIVE FOR GOOD REASON OR BY THE COMPANY WITHOUT CAUSE. Upon the termination of the Executive's employment prior to a Change of Control under this Agreement by the Executive for Good Reason or by the Company without Cause, the Executive shall be entitled to be paid a termination payment (the "Termination Payment") equal to one (1) times the aggregate of (i) Executive's Annual Base Salary, and (ii) Executives Target Annual Bonus, at the time of such termination. The Termination Payment shall be paid in lump sum within fifteen (15) days after the Company's receipt of a general release that has become irrevocable as specified in Section 7(F) following any termination pursuant to this Section 7(A).

Appears in 1 contract

Samples: Executive Employment Agreement (Magicjack Vocaltec LTD)

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TERMINATION OF EMPLOYMENT BY THE EXECUTIVE FOR GOOD REASON OR BY THE COMPANY WITHOUT CAUSE. Upon the termination of the Executive's ’s employment prior to a Change of Control under this Agreement by the Executive for Good Reason or by the Company without Cause, the Executive shall be entitled to be paid a termination payment (the "Termination Payment") equal to one (1) times the aggregate of (i) Executive's ’s Annual Base Salary, and (ii) Executives Executive’s Target Annual Bonus, at the time of such termination. The Termination Payment shall be paid in a lump sum within fifteen (15) days after the Company's ’s receipt of a general release that has become irrevocable as specified in Section 7(F7(E) following any termination pursuant to this Section 7(A).

Appears in 1 contract

Samples: Employment Agreement (Magicjack Vocaltec LTD)

TERMINATION OF EMPLOYMENT BY THE EXECUTIVE FOR GOOD REASON OR BY THE COMPANY WITHOUT CAUSE. Upon the termination of the Executive's Executive employment prior to a Change of Control under this Agreement by the Executive for Good Reason or by the Company without Cause, the Executive shall be entitled to be paid a termination payment (the "Termination Payment") equal to one (1) times the aggregate of (i) Executive's ’s Annual Base Salary, and (ii) Executives Executive’s Target Annual Bonus, at the time of such termination. The Termination Payment shall be paid in a lump sum within fifteen (15) days after the Company's ’s receipt of a general release that has become irrevocable as specified in Section 7(F7(E) following any termination pursuant to this Section 7(A).

Appears in 1 contract

Samples: Employment Agreement (Magicjack Vocaltec LTD)

TERMINATION OF EMPLOYMENT BY THE EXECUTIVE FOR GOOD REASON OR BY THE COMPANY WITHOUT CAUSE. Upon the termination of the Executive's ’s employment prior to a Change of Control under this Agreement by the Executive for Good Reason or by the Company without Cause, the Executive shall be entitled to be paid a termination payment (the "Termination Payment") equal to one (1) times the aggregate of (i) Executive's ’s Annual Base Salary, and (ii) Executives Executive’s Target Annual Bonus, at the time of such termination. The Termination Payment shall be paid in lump sum within fifteen (15) days after the Company's ’s receipt of a general release that has become irrevocable as specified in Section 7(F) following any termination pursuant to this Section 7(A).

Appears in 1 contract

Samples: Executive Employment Agreement (Magicjack Vocaltec LTD)

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TERMINATION OF EMPLOYMENT BY THE EXECUTIVE FOR GOOD REASON OR BY THE COMPANY WITHOUT CAUSE. Upon the termination of the Executive's ’s employment prior to a Change of Control under this Agreement by the Executive for Good Reason or by the Company without Cause, the Executive shall be entitled to be paid a termination payment (the "Termination Payment") equal to one (1) times the aggregate of (i) Executive's ’s Annual Base Salary, and (ii) Executives Executive’s Target Annual Bonus, at the time of such termination. The Termination Payment shall be paid in a lump sum within fifteen (15) days after the Company's ’s receipt of a general release that has become irrevocable as specified in Section 7(F) following any termination pursuant to this Section 7(A).

Appears in 1 contract

Samples: Executive Employment Agreement (Magicjack Vocaltec LTD)

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