Termination of Employment Severance. Your immediate supervisor or the Company's Board of Directors may terminate your employment, with or without cause, at any time by giving you written notice of your termination, such termination of employment to be effective on the date specified in the notice. You also may terminate your employment with the Company at any time. The effective date of termination (the "Effective Date") shall be the last day of your employment with the Company, as specified in a notice by you, or if you are terminated by the Company, the date that is specified by the Company in its notice to you. The following subsections set forth your rights to severance in the event of the termination of your employment in certain circumstances by either the Company or you. Section 5 also sets forth certain restrictions on your activities if your employment with the Company is terminated, whether by the Company or you. That section shall survive any termination of this Agreement or your employment with the Company.
Termination of Employment Severance. Executive’s employment relationship is at-will. Either Executive or the Company may terminate the employment relationship at any time, with or without cause or advance notice. Executive will be eligible for severance under the Company’s Executive Severance Benefit Plan, adopted by the Board, as it may be amended from time to time.
Termination of Employment Severance. Notwithstanding any other provision of this Agreement:
(a) TERMINATION "FOR CAUSE" BY COMPANY. During the term of this Agreement, Company may, by action of its Board of Directors (with Employee abstaining from the vote on any such action), terminate Employee's employment with Company "for cause" (as defined in this Section 10(a)), by sending written notice to Employee specifying with reasonable particularity the basis for such termination. Upon any such termination, Employee's right to any further compensation hereunder shall cease and terminate, except that Employee shall be entitled to receive, on the terms and at the times specified in this Agreement: (i) any salary earned through the date of termination of employment; (ii) the reimbursement of any expenses incurred prior to the date of termination; and (iii) a severance payment equal to one month's salary. For purposes of this Section 10(a), termination by Company "for cause" shall mean and include Employee's: (i) material breach, as determined by the Company, of any proprietary information or confidentiality agreement entered into with Company, including without limitation, the theft or other misappropriation of Company's Confidential Information; (ii) indictment or conviction (including any plea of nolo contendre) of any felony or any crime involving fraud or dishonesty (whether or not related to his employment); (iii) participation in any fraud against Company; or (iv) material breach, as determined by the Company, of his duties to Company, which breach Employee shall have failed to correct within thirty (30) days of receipt of written notification of the same by Company.
Termination of Employment Severance. Your employment under this agreement shall continue until one party delivers to the other party a written notice of termination setting forth the reason, if any, for the termination. If you terminate your employment without Good Reason (as defined below), you will give the Company two month’s written notice.
a. In the event of termination of your employment by the Company other than for Cause (as defined below) or your termination of employment for Good Reason (as defined below), the Company will: (i) continue to pay you your Base Salary and provide you with the benefits set forth in Paragraph 2(d) hereof for the lesser of (x) a period of nine (9) months from the date of termination or (y) such period of time that it takes you to find comparable employment; (ii) pay you on the date of termination any Base Salary earned but not paid through the date of termination; and (iii) pay you any bonus to which you are entitled in accordance with Paragraph 2(b) above, prorated to the date of termination and payable at the time such bonuses are payable to Company executives generally. All severance payments will be payable in accordance with the normal payroll practices of the Company.
b. In the event of termination of your employment by the Company for Cause or termination by you other than for Good Reason, the Company will have no further obligations to you other than paying you any Base Salary earned but not paid through the date of termination.
c. If within two years of a Change of Control (as defined in Exhibit A hereto) of the Company, (i) you are terminated other than for Cause, or (ii) you terminate your employment with the surviving company due to the fact that (a) the surviving company takes any action that results in a material diminution in your position, authority or duties as such position, authority or duties existed immediately prior to the Change of Control or (b) the surviving company takes any action that would require you to have your principal place of work changed to any location outside a thirty-five mile radius of the City of Boston, then, in the case of either (i) or (ii), the Company will continue to pay your Base Salary (as in effect at the time of your termination) and provide you with the benefits set forth in Paragraph 2(d) above for a period of twelve (12) months from the date of termination. The Company will also pay you on the date of termination any Base Salary earned but not paid through the date of termination. All severance payment...
Termination of Employment Severance. (a) The Company agrees that, unless earlier terminated as provided herein, the Company shall continue to employ the Executive at the Executive's current location, to pay the Executive's "Base Salary" (as defined in the Employment Agreement) at the rate in effect as of the date of this Agreement, to reimburse the Executive for all reasonable business expenses, incurred in connection with the Executive's duties, pursuant to the Company's policies, and to allow the Executive to participate in the Company's benefit programs until the Termination Date, upon which date the Executive's employment with the Company and its affiliates shall cease; provided, however, that nothing herein shall impair the Company's right to terminate the Executive's employment for "Cause" (as defined in the Employment Agreement and modified herein) prior to the Termination Date or the Executive's right to terminate the Executive's employment for a "Constructive Termination Without Cause" (as defined in the Employment Agreement and modified herein). As of the date of this Agreement, the Company is not aware of any events, omissions or circumstances, individually or in the aggregate, constituting Cause under the Employment Agreement with respect to the Executive. The Executive acknowledges and agrees that (i) the Executive is not aware of any events, omissions or circumstances that have occurred on or prior to the date of this Agreement which, individually or in the aggregate, constitute a "Constructive Termination Without Cause" under the Employment Agreement and (ii) no diminution of the Executive's title, position, duties or authorities which may occur following the date of this Agreement shall, individually or in the aggregate, constitute a Constructive Termination Without Cause if such diminution occurs as a result of the transitioning of the Executive's title, position, duties or authorities to a successor. Further, the Executive's failure to perform duties which are inconsistent with the Executive's title, position, duties or authorities as set forth in the Employment Agreement shall not constitute Cause; provided, however, that the Executive acknowledges and agrees that the transitioning of the Executive's title, position, duties or authorities to a successor is not inconsistent with the Executive's title, position, duties or authorities as set forth in the Employment Agreement.
Termination of Employment Severance. Your immediate supervisor or the Company’s Board of Directors may terminate your employment, with or without Cause, at any time by giving you written notice of your termination, and such termination of employment shall be effective on the date specified in the notice. The effective date of your termination of employment (the “Termination Date”) shall be the last day of your employment with the Company, as specified in a notice by you, or if you are terminated by the Company, the date that is specified by the Company in its notice to you.
Termination of Employment Severance. If Employee's employment is terminated by Company for any reason other than Cause prior to a Change in Control of AAR CORP., Company will pay 12 months severance to Employee; the covenant not to compete will not be enforceable if Company is in default of its obligation to pay severance. - No severance is payable in the event Employee breaches the non-compete covenants or commences any legal proceeding against the Company for termination of employment.
Termination of Employment Severance. A. This Employment Agreement may be terminated by:
(1) Resignation by written notice to the Board at least ninety (90) days prior to the effective termination date;
(2) Mutual agreement of the parties;
(3) Termination by the Board with or without prior notice, provided that upon unilateral termination of this President’s Employment Agreement by the Board, Xx. Xxxxxx shall receive a severance payment not to exceed one-year of his base salary then in effect.
Termination of Employment Severance. Company may terminate Executive's employment hereunder at any time with or without cause
Termination of Employment Severance. (a) The Company agrees that, unless earlier terminated as provided herein, the Company shall continue to employ the Executive at the Executive's current location, to pay the Executive's "Base Salary" (as defined in the Employment Agreement) at the rate in effect as of the date of this Agreement, to reimburse the Executive for all reasonable business expenses, incurred in connection with the Executive's duties, pursuant to the Company's policies, and to allow the Executive to participate in the Company's benefit programs until the Termination Date, upon which date the Executive's employment with the Company and its affiliates shall cease; provided, however, that nothing herein shall impair the Company's right to terminate the Executive's employment for "Cause" (as defined in the Employment Agreement and modified herein) prior to the Termination Date or the Executive's right to terminate the Executive's employment for a "Constructive Termination Without Cause" (as defined in the Employment Agreement and modified herein). As of the date of this Agreement, the Company is not aware of any events, omissions or circumstances, individually or in the aggregate, constituting Cause under the Employment Agreement with respect to the
