Termination with Notice by Either Party. The Company or Employee may terminate this Agreement for any reason or no reason upon thirty (30) days prior written notice to the other. In case of termination by the Company only under this paragraph, the Company shall pay Employee a one-time cash severance payment equal to a full year’s Base Salary plus the Employee’s Pro Rated Bonus. The Company shall have no further obligations to Employee following termination.
Termination with Notice by Either Party. The Company or Employee may terminate this Agreement for any reason or no reason upon thirty (30) days prior written notice to the other. In case of termination by the Company, with the exception of Good Cause (as herein defined), the Company shall pay Employee severance compensation, in a lump sum payable on the date of termination, calculated at the rate of Salary in effect as of the date immediately preceding the date of termination and the cost of premiums for any Company sponsored insurance policy (or the cash equivalent) for the longer of (i) thirty-six months (36) months or (ii) the period from the date of termination through the Expiration Date.
Termination with Notice by Either Party. The Company or Employee may terminate this Agreement for any reason or no reason upon sixty (60) days prior written notice to the other. If the Company terminates the employment of Employee without Good Cause (as herein defined), the Company fails to renew this Agreement as provided in Section 5 without Good Cause, the Employee terminates his employment with Good Cause (as herein defined) or the Employee fails to renew this Agreement as provided in Section 5, the Company shall pay Employee severance compensation calculated at the rate of Salary in effect as of the date immediately preceding the date of termination and the cost of premiums for any Company sponsored insurance policy (or the cash equivalent) for twenty-four (24) months, payable in the manner and at such times as the Salary otherwise would have been payable to the Employee hereunder were Employee to continue to be employed by the Company. If the Company terminates the employment of Employee with Good Cause, the Company fails to renew this Agreement as provided in Section 5 with Good Cause, or Employee terminates his employment with the Company hereunder as provided in this Section 5(a), the Company shall not be under any obligation to pay Employee, and Employee shall not be entitled to, any such severance compensation.
Termination with Notice by Either Party. Section 4(b) (as renumbered hereby) of the Agreement is hereby deleted in its entirety and replaced with the following new Section 4(b):
Termination with Notice by Either Party. The Company or the Employee may terminate this Agreement for any reason or no reason upon sixty (60) days prior written notice to the other. If the Company terminates the employment of the Employee without Good Cause (as defined below), the Company shall pay the Employee the remainder of Employee’s Compensation at the rate of the Base Salary in effect as of the date immediately preceding the date of termination and the cost of premiums for any Company sponsored insurance policies or other benefits, medical, dental, disability, retirement and travel plans (or the cash equivalent) for the greater of twelve (12) months or the remainder of the Employment Period, payable in the manner and at such times as the Base Salary and benefits otherwise would have been payable to the Employee hereunder were the Employee to continue to be employed by the Company. If the Employee terminates his employment with the Company hereunder without Good Cause (as defined below), the Company shall pay the Employee the Base Salary earned and reasonable expenses reimbursable under this Agreement incurred through the date of Employee’s termination; provided that the Company shall not be under any obligation to pay the Employee any unearned or non-accrued Compensation, and the Employee shall not be entitled to, any such severance compensation.
Termination with Notice by Either Party. After the expiration of the Initial Term, either party may terminate this Agreement for any reason or no reason upon fifteen (15) days prior written notice. At any time during the Initial Term, or during any extended term, Company may terminate Employee for Good Cause, subject to the applicable cure periods set forth below. In case of termination of Employee, Company agrees to pay Employee for compensation earned thru the termination date. If Employee is terminated without Good Cause , the Company shall pay Employee severance compensation the greater of (i) the remainder of Employee's compensation during the Initial Term, calculated at the rate of Salary in effect as of the date immediately preceding the date of termination and the cost of premiums for any Company sponsored insurance policy (or the cash equivalent), or (ii) his Salary plus cost of premiums for any Company sponsored insurance policy (or cash equivalent) for twelve (12) months.
Termination with Notice by Either Party. The Company or Employee may terminate this Agreement for any reason or no reason upon sixty (60) days prior written notice to the other. If the Company terminates the employment of Employee without Good Cause (as herein defined)or the Employee terminates his employment with Good Cause (as herein defined), the Company shall pay Employee severance compensation calculated at the rate of Salary in effect as of the date immediately preceding the date of termination and the cost of premiums for any Company sponsored insurance policy (or the cash equivalent) as follows: (i) if terminated prior to the first anniversary of this Agreement, Employee shall be paid six months, (ii) if terminated after the first anniversary but before the second anniversary Employee shall be paid 1 year; (iii) if terminated after the second anniversary, Employee shall be paid 2 years. All payments will be in the manner and at such times as the Salary otherwise would have been payable to the Employee hereunder were Employee to continue to be employed by the Company. If the Company terminates the employment of Employee with Good Cause Employee terminates his employment with the Company without Good Cause, or the parties do not extend or renew this Agreement regardless of any reason, the Company shall not be under any obligation to pay Employee, and Employee shall not be entitled to, any such severance compensation.
Termination with Notice by Either Party. The Company or Employee may terminate this Agreement for any reason or no reason upon sixty (60) days prior written notice to the other. If the Company terminates the employment of Employee without Good Cause (as herein defined), or the Employee terminates his employment with Good Cause (as herein defined), the Company shall pay Employee severance compensation calculated at the rate of Salary in effect as of the date immediately preceding the date of termination for twelve (12) months, payable in the manner and at such times as the Salary otherwise would have been payable to the Employee hereunder were Employee to continue to be employed by the Company. If the Company terminates the employment of Employee with Good Cause, or if this Agreement is not renewed, or Employee terminates his employment with the Company hereunder as provided in this Section 5(a), the Company shall not be under any obligation to pay Employee, and Employee shall not be entitled to, any such severance compensation.
Termination with Notice by Either Party. The Company or Executive may terminate this Agreement for any reason or no reason upon sixty (60) days prior written notice to the other.
Termination with Notice by Either Party. After the three (3) month evaluation period specified in Paragraph 3, Either of us, with or without cause and in the sole discretion of the Party giving notice, may terminate the Employee’s employment under this Agreement at any time by giving the other Party at least ninety (90) days’ prior notice. If the Company shall elect to terminate Employee's full-time employment under this Paragraph 14(a) during the term of employment set forth in Paragraph 3, Employee shall receive from the Company additional compensation after the Employee’s notice of termination, for services as a consultant, the sum of the Employee’s equivalent of one month’s salary, paid through regular payroll as salary continuation, per month, for three months following Company’s termination of Employee’s employment. In no case shall the Employee’s severance exceed three months’ salary. If the Employee terminates the Employee’s employment without giving the Company 90 days’ notice of the Employee’s termination of employment, the Company may demand that the Employee pay to Company the sum of twenty-five thousand dollars ($25,000) to compensate the Company for injury by reason of such breach of the 90-day notice requirement, it being impossible to ascertain or estimate the entire or exact cost, damage, or injury which Company may sustain by reason of the breach, and such sum is agreed on as compensation for the injury suffered by Company, and not as a penalty.
