Common use of Termination Other Than for Cause or Disability Clause in Contracts

Termination Other Than for Cause or Disability. Without derogating from the rights of the Employee to compensation during the Notice Period as provided in section 2.4 above, the Employee shall be entitled to compensation in the event of (a) termination or of (b) failure to extend the Term of the Agreement by the Company prior to the Employee's attaining the age of seventy (70), other than for Cause or due to Disability, in an amount equal to: (a) all sums, including Salary pursuant to section 3 below and Employee Benefits as provided in section 4.1 below, to which Employee would otherwise have been entitled if he had remained in the employ of the Company for the portion of the Term during which this Agreement would have remained in effect but for its termination as aforesaid, and (b) an amount equal to six (6) monthly Base Salaries, as defined in section 3 below.

Appears in 4 contracts

Samples: Employment Agreement (Zion Oil & Gas Inc), Employment Agreement (Zion Oil & Gas Inc), Employment Agreement (Zion Oil & Gas Inc)

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Termination Other Than for Cause or Disability. Without derogating from the rights of the Employee to compensation during the Notice Period as provided in section 2.4 above, the Employee shall be entitled to compensation in the event of (a) termination or of (b) failure to extend the Term of the Agreement by the Company prior to the Employee's attaining the age of seventy (70), other than for Cause or due to Disability, in an amount equal to: (a) : all sums, including Salary pursuant to section 3 below below, Social Insurance and Employee Benefits as provided in section 4.1 - 4.3 below, to which Employee would otherwise have been entitled if he had remained in the employ of the Company for the portion of the Term during which this Agreement would have remained in effect but for its termination as aforesaid, and (b) and an amount equal to six (6) monthly Base Salaries, as defined in section 3 below.

Appears in 4 contracts

Samples: Employment Agreement (Zion Oil & Gas Inc), Employment Agreement (Zion Oil & Gas Inc), Employment Agreement (Zion Oil & Gas Inc)

Termination Other Than for Cause or Disability. Without derogating from the rights of the Employee to compensation during the Notice Period as provided in section 2.4 above, the Employee shall be entitled to compensation in the event of (a) termination or of (b) failure to extend the Term of the this Agreement by the Company prior to the Employee's attaining the age of seventy (70), other than for Cause or due to Disability, in an amount equal to: (a) all sums, including Salary pursuant to section 3 below and Employee Benefits as provided in section 4.1 below, to which Employee would otherwise have been entitled if he had remained in the employ of the Company for the portion of the Term during which this Agreement would have remained in effect but for its termination as aforesaid, and (b) an amount equal to six (6) monthly Base Salaries, as defined in section 3 below.

Appears in 4 contracts

Samples: Employment Agreement (Zion Oil & Gas Inc), Employment Agreement (Zion Oil & Gas Inc), Employment Agreement (Zion Oil & Gas Inc)

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Termination Other Than for Cause or Disability. Without derogating from the rights of the Employee to compensation during the Notice Period as provided in section 2.4 above, the Employee shall be entitled to compensation in the event of (a) termination or of (b) failure to extend the Term of the this Agreement by the Company prior to the Employee's attaining the age of seventy (70), other than for Cause or due to Disability, in an amount equal to: (a) to all sums, including Salary pursuant to section 3 below and Employee Benefits as provided in section 4.1 below, to which Employee would otherwise have been entitled if he had remained in the employ of the Company for the portion of the Term during which this Agreement would have remained in effect but for its termination as aforesaid, and plus, in the event termination occurs after one year of service, 1/6 of one month's Base Salary (b) an amount equal to six (6) monthly Base Salaries, as defined in section 3 below) for each month of full-time service.

Appears in 3 contracts

Samples: Employment Agreement (Zion Oil & Gas Inc), Employment Agreement (Zion Oil & Gas Inc), Employment Agreement (Zion Oil & Gas Inc)

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