Termination of Executive Without Cause Sample Clauses

Termination of Executive Without Cause. If Executive’s employment is involuntarily terminated by the Company without Cause (as defined below), Executive shall be paid a severance pay benefit equal to one (1) times Executive’s then-current annual base salary. Such amount shall be payable in compliance with Section 7, in a cash lump sum within sixty (60) days after Executive’s termination of employment, subject to Executive (i) executing and not revoking an effective release of claims, in a form acceptable to the Company (a “Release”) no later than fifty-two (52) days following such termination of employment and (ii) remaining in compliance with all applicable restrictive covenants, including those set forth in this Agreement and the Employee Confidential Information and Inventions Agreement between the Company and Executive attached as Exhibit A hereto (the “ECII Agreement”).
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Termination of Executive Without Cause. In the event the employment of Executive with Employer is (i) terminated without cause, (ii) terminated for cause after Executive attains age 65, or (iii) terminated voluntarily by Executive after Executive attains age 65, the Executive or his legal representative shall be entitled to be paid the Annual Benefit, as set forth in Schedule "A" for a period of fifteen (15) years, as determined by the applicable years of service at the time of the Executive's termination of employment with the Employer, in One Hundred Eighty (180) equal monthly installments, with each installment to be paid on the first day of each month, beginning with the month following the month in which the Executive terminates employment and attains sixty-five (65) years of age or the month following the Executive's death, whichever occurs first.
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Termination of Executive Without Cause. TCSC and SCM may terminate the employment of Executive and their obligations hereunder at any time during the Employment Term without Cause upon not less than fourteen (14) days written notice to Executive. In the event of such a termination, subject to and in consideration of Executive's execution of a waiver of liability and general release of all claims against the Schwab Entities and their respective officers, directors, employees and agents in a form acceptable to TCSC and SCM and Executive's full compliance with the restrictions and covenants set forth in Section 6, above, the sole liability (other than as provided in Section 7(i) below) of TCSC, SCM and the other Schwab Entities shall be to pay (or, as the case may be, provide) to Executive: (i) Executive's Base Salary for the three-year period immediately following the effective date of Executive's termination, payable at TCSC/SCM's option in a lump sum discounted to present value by a compounded six percent (6%) interest rate or in substantially equal installments biweekly, from which TCSC/SCM shall withhold and deduct in either event all applicable federal, state and city income, social security and disability taxes as required by applicable law, (ii) an additional $10 million, (iii) any bonuses not yet paid to Executive, if any, under Sections 4(b) and 4(c), above, in respect of TCSC's fiscal year ended prior to Executive's termination and any pro-rated bonus payable to Executive under Sections 4(b) and 4(c) above, calculated by the Compensation Committee of the Board in a manner consistent with TCSC policies applicable to Executive Committee members; (iv) an amount equivalent to three years of bonuses payable to Executive under Section 4(b) above, based on Executive's target bonus levels under the plans described in Sections 4(b) above, (v) continued vesting of all of Executive's then outstanding stock options, restricted stock grants and other equity-based awards for the three-year period commencing on the effective date of Executive's termination (TCSC agrees that notwithstanding any provision in the applicable stock plans, agreements or programs to the contrary regarding when a vested stock option may be exercised, Executive shall be treated as having his employment terminated on the third anniversary of the date of termination permitting him to exercise any vested stock options for up to three (3) years and three (3) months following the effective date of Executive's termination under this ...
Sample 1
Termination of Executive Without Cause. If Executive is terminated by Employer at any time without cause, Executive shall be entitled to payment by Employer of all unearned draws against Compensation as well as all Compensation addressed in Paragraph 3, through the end of the year of Executive's termination. After such payment Employer will be relieved of any further obligation to pay additional Compensation to Executive. Such draw and Compensation shall be due and payable to Executive under the terms of Paragraph 3. The parties further agree that if Executive is terminated without cause, the non-compete provisions of Paragraphs 22 and 23 shall be null and void and unenforceable against Executive.
Sample 1
Termination of Executive Without Cause. If Executive’s employment is involuntarily terminated by the Company without Cause, Executive shall be paid a severance pay benefit equal to two (2) times Executive’s then-current annual base salary. Such amount shall be payable in compliance with Section 6.9, in a cash lump sum as soon as practicable (as provided by law) after he executes and delivers an effective release of claims, in a form acceptable to the Company and at the time specified by the Company, and remains in compliance with all applicable restrictive covenants, including those set forth in this Agreement.
Sample 1
Termination of Executive Without Cause. In the event that Executive is terminated without cause, Executive shall be paid as provided herein. The Company may terminate the employment of Executive either by non-renewal of this Agreement (as provided for in Section 1.3) or failure to elect or re-elect Executive to office (as specified in Section 1.1) at any election held during the Employment Period, or at any time without cause (as defined in Section 3.2) by a written notice stating that such termination is without just cause. In such event, Executive shall be entitled to receive the compensation and benefits set forth in (i) through (v): (i) fixed base salary until the end of this Agreement's full term or eighteen ( l 8) months, whichever is greater, based on Executive's highest monthly rate of base salary during the twelve (12) months prior to the date of such termination, (ii) variable incentive compensation that otherwise would be payable during the full term of this Agreement, or eighteen (18) months, whichever is greater; (iii) payment of any bonus amounts that the Executive had previously earned from the Company, but which may not yet have been paid as of the date of termination; (iv) payment for unused time off, as provided for in Section 2.3, (v) payment for health coverage benefits equivalent to medical and dental benefits provided during Executive's full time employment for twenty-four (24) months after the date of termination. Any additional health-related coverages the Executive had at termination, including dependent coverage, will also be continued for such period on the same terms. Any costs the Executive was paying for such coverages at the time of termination shall be paid by the Executive by separate check payable to the Company each month in advance. If the terms of any benefit plan referred to in this paragraph do not permit continued participation by the Executive the Company shall provide Executive with substantially equivalent coverage through other sources or will provide Executive with a lump sum payment in such amount that, after all income and all taxes on that amount have been paid, shall be equal to the Executive's costs of providing herself and her dependents with such benefit coverage. At the termination of the benefits coverage provided herein, Executive and dependents shall be entitled to continuation coverage pursuant to SectiOn 49980B of the Code, Section 601-608 of the Employee Retirement Income Security Act of 1974, as amended, and under any other applicable l...
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Related to Termination of Executive Without Cause

  • Termination of Employment Without Cause At any time during the Term of Employment under this Agreement, either Arrow or the Bank may effect, pursuant to this Paragraph 7(b), and in accordance with the requirements set forth in Paragraph 11(gg) below, a Termination of Employment of Executive without Cause, provided, however, that any attempt to do so under circumstances that would also qualify such Termination of Employment as a Termination of Employment of Executive without Cause under Paragraph 6(a) of this Agreement, that is, as a Termination of Employment of Executive without Cause following a Change in Control that meets the conditions set forth in Paragraph 6(a), will be deemed a Termination of Employment of Executive without Cause under Paragraph 6(a), and not a Termination of Employment of Executive without Cause under this Paragraph 7(b). In the event of a Termination of Employment of Executive without Cause under this Paragraph 7(b), on the effective date of such Termination of Employment, and subject to the satisfaction of the conditions specified below in Section 8, Arrow or the Bank shall pay to the Executive, and the Executive shall be entitled to receive, one (1) lump sum payment in a dollar amount equal to the greater of (i) the total amount of Base Salary payments which would have been payable to the Executive during the period extending from such effective date until the normal expiration date of Employment under this Agreement as in effect at such time, had there been no early Termination of Employment of Executive without Cause (and assuming the Executive otherwise would have remained employed throughout such period and that his Base Salary would have remained unchanged throughout such period), or (ii) an amount equal to one hundred percent (100%) of the current Base Salary of the Executive on the effective date of such Termination of Employment.

  • Termination for Cause; Resignation Without Good Reason; Death or Disability (i) The Company may terminate Executive’s employment with the Company at any time for Cause. Further, Executive may resign at any time without Good Reason. Executive’s employment with the Company may also be terminated due to Executive’s death or disability.

  • Involuntary Termination Without Cause In the event of the Participant’s involuntary Termination by the Company without Cause, the vested portion of the Option shall remain exercisable until the earlier of (i) ninety (90) days from the date of such Termination, and (ii) the expiration of the stated term of the Option pursuant to Section 3(d) hereof.

  • Termination Without Cause; Termination for Good Reason If the Company shall terminate the Executive’s employment, other than for Cause, or the Executive shall terminate his employment for Good Reason, then;

  • Termination of Employment for Cause If Optionee’s employment with the Bancorp or a subsidiary corporation is terminated for cause, this option shall expire thirty (30) days from the date of such termination. Termination for cause shall include, but not be limited to, termination for malfeasance or gross misfeasance in the performance of duties or conviction of a crime involving moral turpitude, and, in any event, the determination of the Board of Directors with respect thereto shall be final and conclusive.

  • Constructive Termination Without Cause In the event that: (i) a Constructive Termination Without Cause occurs and (ii) Section 8(F) (change in control) does not apply, then the Executive shall have the same entitlements as provided under Section 8(D) for a termination by the Company without Cause.

  • Termination Without Cause or Termination for Good Reason (a) The Company may terminate the Executive's employment hereunder without Cause, and the Executive shall be permitted to terminate his employment hereunder for Good Reason (as hereinafter defined). If the Company terminates the Executive's employment hereunder without Cause, other than due to death or Disability, or if the Employee effects a termination for Good Reason, the Executive shall be entitled to receive all the benefits provided for under Section 3.6 of this Agreement.

  • Termination of Employment Without Cause or for Good Reason (a) If (1) the Company terminates Executive’s employment without Cause or (2) Executive resigns for Good Reason, then Executive shall be entitled to receive the following termination payments and benefits; provided, however, that this Section 3.3 shall not apply to, and shall have no effect in connection with, any termination to which Section 3.2 of this Agreement applies:

  • Voluntary Termination by the Executive Without Good Reason If the Executive terminates employment without Good Reason, the Executive shall receive the Base Salary and expense reimbursement to which the Executive is entitled through the date on which termination becomes effective.

  • Termination Without Cause The Company may terminate the Executive’s employment hereunder at any time without Cause. Any termination by the Company of the Executive’s employment under this Agreement which does not constitute a termination for Cause under Section 3(c) and does not result from the death or disability of the Executive under Section 3(a) or (b) shall be deemed a termination without Cause.

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