Common use of Termination with Cause by the Company Clause in Contracts

Termination with Cause by the Company. This Agreement may -------------------------------------- be terminated with Cause (as hereinafter defined) by the Company provided that the Company shall (i) give Executive the Notice of Termination (as hereinafter defined), and (ii) pay Executive his base salary through the Termination Date (as hereinafter defined) at the rate in effect at the time the Notice of Termination is given, plus any bonus or incentive compensation which has been earned or has become payable pursuant to the terms of any compensation or benefit plan as of the Termination Date, but which has not yet been paid. Notwithstanding the foregoing, if Executive is terminated with Cause pursuant to Section 11.02(ii) and, subsequently, charges are dropped, Executive is found not guilty or otherwise cleared of wrongdoing, before or after trial or following appeal, then in such event, the Company shall promptly thereupon recommence payments to Executive (or to his estate in the event of Executive's death) in the amount of the compensation and other benefits described in Section 5 of this Agreement for a period of twelve (12) months, increased by such amount as may be necessary to make Executive whole for any incremental taxes due as a result of such continuance of payments.

Appears in 3 contracts

Samples: Employment Agreement (Stem Cell Therapy International, Inc.), Employment Agreement (Stem Cell Therapy International, Inc.), Employment Agreement (Stem Cell Therapy International, Inc.)

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Termination with Cause by the Company. This Agreement may -------------------------------------- be terminated with Cause (as hereinafter defined) by the Company provided that the Company shall (i) give Executive the Notice of Termination (as hereinafter defined), and (ii) pay Executive his base salary through the Termination Date (as hereinafter defined) at the rate in effect at the time the Notice of Termination is given, plus any bonus or incentive compensation which has been earned or has become payable pursuant to the terms of any compensation or benefit plan as of the Termination Date, but which has not yet been paid. Notwithstanding the foregoing, if Executive is terminated with Cause pursuant to Section 11.02(ii) and, subsequently, charges are dropped, Executive is found not guilty or otherwise cleared of wrongdoing, before or after trial or following appeal, then in such event, the Company shall promptly thereupon recommence payments to Executive (or to his estate in the event of Executive's ’s death) in the amount of the compensation and other benefits described in Section 5 of this Agreement for a period of twelve (12) months, increased by such amount as may be necessary to make Executive whole for any incremental taxes due as a result of such continuance of payments.

Appears in 2 contracts

Samples: Employment Agreement (Stem Cell Therapy International, Inc.), Employment Agreement (Stem Cell Therapy International, Inc.)

Termination with Cause by the Company. This Agreement may -------------------------------------- be terminated with Cause (as hereinafter defined) by the Company provided that the Company shall (i) give Executive the Notice of Termination (as hereinafter defined), and (ii) pay Executive his annual base salary through the Termination Date (as hereinafter defined) at the rate in effect at the time the Notice of Termination is given, plus any bonus or incentive compensation which has been earned or has become payable pursuant to the terms of any compensation or benefit plan as of the Termination Date, but which has not yet been paid. Notwithstanding the foregoing, if Executive is terminated with Cause pursuant to Section 11.02(ii) and, subsequently, charges are dropped, Executive is found not guilty or otherwise cleared of wrongdoing, before or after trial or following appeal, then in such event, the Company shall promptly thereupon recommence payments to Executive (or to his estate in the event of Executive's ’s death) in the amount of the compensation and other benefits described in Section 5 of this Agreement for a period of twelve (12) 24 months, increased by such amount as may be necessary to make Executive whole for any incremental taxes due as a result of such continuance of payments.

Appears in 2 contracts

Samples: Employment Agreement (Drugmax Inc), Employment Agreement (Drugmax Inc)

Termination with Cause by the Company. This Agreement may -------------------------------------- be terminated with Cause (as hereinafter defined) by the Company provided that the Company shall (i) give Executive the Notice of Termination (as hereinafter defined), and (ii) pay Executive his annual base salary through the Termination Date (as hereinafter defined) at the rate in effect at the time the Notice of Termination is given, plus any bonus or incentive compensation which has been earned or has become payable pursuant to the terms of any compensation or benefit plan as of the Termination Date, but which has not yet been paid. Notwithstanding the foregoing, if Executive is terminated with Cause pursuant to Section 11.02(ii) and, subsequently, charges are dropped, Executive is found not guilty or otherwise cleared of wrongdoing, before or after trial or following appeal, then in such event, the Company shall promptly thereupon recommence payments to Executive (or to his estate in the event of Executive's ’s death) in the amount of the compensation and other benefits described in Section 5 of this Agreement for the remainder of the contract, but not less that a period of twelve (12) months, increased by such amount as may be necessary to make Executive whole for any incremental taxes due as a result of such continuance of payments.

Appears in 1 contract

Samples: Employment Agreement (Jagged Peak, Inc.)

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Termination with Cause by the Company. This Agreement may -------------------------------------- be terminated with Cause (as hereinafter defined) by the Company provided that the Company shall (i) give Executive the Notice of Termination (as hereinafter defined), and (ii) pay Executive his annual base salary through the Termination Date (as hereinafter defined) at the rate in effect at the time the Notice of Termination is given, plus any bonus or incentive compensation which has been earned or has become payable pursuant to the terms of any compensation or benefit plan as of the Termination Date, but which has not yet been paid. Notwithstanding the foregoing, if Executive is terminated with Cause pursuant to Section 11.02(ii) and, subsequently, charges are dropped, Executive is found not guilty or otherwise cleared of wrongdoing, before or after trial or following appeal, then in such event, the Company shall promptly thereupon recommence payments to Executive (or to his estate in the event of Executive's ’s death) in the amount of the compensation and other benefits described in Section 5 of this Agreement for a period of twelve (12) months, increased by such amount as may be necessary to make Executive whole for any incremental taxes due as a result of such continuance of payments.

Appears in 1 contract

Samples: Employment Agreement (Jagged Peak, Inc.)

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