Common use of Termination Without Cause by Company Clause in Contracts

Termination Without Cause by Company. The parties agree that the Company may terminate Executive’s employment without Cause. Except under circumstances described in subparagraph 3.b(2) below, if Company terminates Executive’s employment without Cause, and Executive signs a complete waiver and release of claims against Qwest acceptable to Company in the form attached hereto as Attachment A (“Waiver”), then Company shall pay Executive the “Standard Severance Amount” defined below. The Waiver includes, among other terms, a provision requiring Executive to pay back to Qwest any severance received by Executive if after the payments are made it is determined that, while employed by Qwest or any Qwest entity, Executive engaged in conduct constituting Cause. The Waiver does not include a release of Qwest’s obligations, if any, to indemnify Executive under Qwest bylaws or applicable state law. The Standard Severance Amount will equal one and one-half times Executive’s highest annual base salary in effect during the 12 months preceding the termination of Executive’s employment. The Standard Severance Amount will be paid over an 18-month period through the Company’s regular management payroll processes. If, at the end of the 18-month period, Executive has not breached or threatened to breach any part of this Agreement, Executive will also receive a lump-sum payment equal to one and one-half times Executive’s highest target annual bonus in effect during the 12 months preceding the termination of Executive’s employment, minus any applicable or legally-required withholdings.

Appears in 3 contracts

Samples: Severance Agreement (Qwest Communications International Inc), Severance Agreement (Qwest Communications International Inc), Severance Agreement (Qwest Communications International Inc)

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Termination Without Cause by Company. The parties agree that the Company may terminate Executive’s 's employment without Cause. Except under circumstances described in subparagraph 3.b(2) below, if Company terminates Executive’s 's employment without Cause, and Executive signs a complete waiver and release of claims against Qwest acceptable to Company in the form attached hereto as Attachment A ("Waiver"), then Company shall pay Executive the "Standard Severance Amount" defined below. The Waiver includes, among other terms, a provision requiring Executive to pay back to Qwest any severance received by Executive if after the payments are made it is determined that, while employed by Qwest or any Qwest entity, Executive engaged in conduct constituting Cause. The Waiver does not include a release of Qwest’s 's obligations, if any, to indemnify Executive under Qwest bylaws or applicable state law. The Standard Severance Amount will equal one and one-half times Executive’s 's highest annual base salary in effect during the 12 months preceding the termination of Executive’s 's employment. The Standard Severance Amount will be paid over an 18-month period through the Company’s 's regular management payroll processes. If, at the end of the 18-month period, Executive has not breached or threatened to breach any part of this Agreement, Executive will also receive a lump-sum payment equal to one and one-half times Executive’s 's highest target annual bonus in effect during the 12 months preceding the termination of Executive’s 's employment, minus any applicable or legally-required withholdings.

Appears in 3 contracts

Samples: Severance Agreement (Qwest Communications International Inc), Severance Agreement (Qwest Communications International Inc), Severance Agreement (Qwest Communications International Inc)

Termination Without Cause by Company. The parties agree that the Company may terminate Executive’s 's employment without Cause. Except under circumstances described in subparagraph 3.b(2) below, if Company terminates Executive’s 's employment without Cause, and Executive signs a complete waiver and release of claims against Qwest acceptable to Company in the form attached hereto as Attachment A ("Waiver"), then Company shall pay Executive the "Standard Severance Amount" defined below. The Waiver includes, among other terms, a provision requiring Executive to pay back to Qwest any severance received by Executive if after the payments are made it is determined that, while employed by Qwest or any Qwest entity, Executive engaged in conduct constituting Cause. The Waiver does not include a release of Qwest’s 's obligations, if any, to indemnify Executive under Qwest bylaws or applicable state law. The Standard Severance Amount will equal one and one-half times Executive’s 's highest annual base salary in effect during the 12 months preceding the termination of Executive’s 's employment. The Standard Severance Amount will be paid over an 18-month period through the Company’s 's regular management payroll processes, commencing on the Severance Payment Date, as defined in subparagraph 22.d., below. If, at the end of the 18-month period, Executive has not breached or threatened to breach any part of this Agreement, Executive will also receive a lump-sum payment equal to one and one-half times Executive’s 's highest target annual bonus in effect during the 12 months preceding the termination of Executive’s 's employment, minus any applicable or legally-required withholdings.

Appears in 1 contract

Samples: Severance Agreement (Qwest Communications International Inc)

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Termination Without Cause by Company. The parties agree that the Company may terminate Executive’s employment without Cause. Except under circumstances described in subparagraph 3.b(2) below, if Company terminates Executive’s employment without Cause, and Executive signs a complete waiver and release of claims against Qwest acceptable to Company in the form attached hereto as Attachment A (“Waiver”), then Company shall pay Executive the “Standard Severance Amount” defined below. The Waiver includes, among other terms, a provision requiring Executive to pay back to Qwest any severance received by Executive if after the payments are made it is determined that, while employed by Qwest or any Qwest entity, Executive engaged in conduct constituting Cause. The Waiver does not include a release of Qwest’s obligations, if any, to indemnify Executive under Qwest bylaws or applicable state law. The Standard Severance Amount will equal one and one-half times Executive’s highest annual base salary in effect during the 12 months preceding the termination of Executive’s employment. The Standard Severance Amount will be paid over an 18-month period through the Company’s regular management payroll processesprocesses commencing on the Severance Payment Date, as defined in subparagraph 23.d, below. If, at the end of the 18-month period, Executive has not breached or threatened to breach any part of this Agreement, Executive will also receive a lump-sum payment equal to one and one-half times Executive’s highest target annual bonus in effect during the 12 months preceding the termination of Executive’s employment, minus any applicable or legally-required withholdings.

Appears in 1 contract

Samples: Severance Agreement (Qwest Communications International Inc)

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