Termination Without Cause by Employer or for Good Reason by Executive Sample Clauses

Termination Without Cause by Employer or for Good Reason by Executive. If the Employment Period is terminated by Employer pursuant to the provisions of Section 5.1 hereof or by Executive pursuant to the provisions of Section 5.3 hereof, Employer will pay to Executive (i) Executive's Base Salary through the date of termination, (ii) within five (5) days following the date of termination in one lump sum an amount equal to the Base Salary multiplied by the number of years (and fractional portions thereof) remaining in the Employment Period (the "Severance Period") and (iii) on the date due pursuant to the provisions of Section 4.2 hereof, the bonus for the then current Bonus Year, prorated for the period of time during the Bonus Year that Executive was employed. All other benefits provided for in Sections 4.3, 4.4 and Section 4.5 (except for pension and retirement benefits) shall be continued at the expense of Employer for the Severance Period. In the event that any such benefits cannot be continued under the terms of the applicable benefit programs or Employer chooses not to continue such benefits, the Employer shall pay to Executive a lump sum amount having an equal value of such remaining benefits. In addition, if the Employment Period is terminated by Employer pursuant to the provisions of Section 5.1 hereof or by Executive pursuant to the provisions of Section 5.3 hereof, (i) the restrictions with respect to all unvested shares of Restricted Stock previously granted to Executive shall immediately lapse and such shares shall become transferable and no longer subject to forfeiture and (ii) all unvested portions of the Options previously granted to Executive shall immediately become vested and exercisable. Employer shall have no obligation to continue any other benefits provided for in Section 4 past the date of termination.

Termination Without Cause by Employer or for Good Reason by Executive. If the Employment Period is terminated by Employer without Cause or by Executive for Good Reason, provided that all payments due to Executive from Employer have been made to Executive by Employer, the Non-Compete Period shall be six (6) months from the effective date of termination.

Termination Without Cause by Employer or for Good Reason by Executive. If the Employment Period is terminated by Employer without Cause or by Executive for Good Reason, Employer will pay to Executive a lump sum payment equal to one full year of Executive’s then Base Salary. Employer shall also continue to provide the Executive with all employee benefits and perquisites which he was participating in or receiving at the effective date of termination (or if greater, at the end of the prior year) for two years. If such benefits cannot be provided under the Employer’s programs, such benefits and perquisites will be provided on a tax effective basis on an individual basis to the Executive.

Termination Without Cause by Employer or for Good Reason by Executive. If the Employment Period is terminated by Employer pursuant to the provisions of Section 4.1 hereof or by Executive pursuant to the provisions of Section 4.3 hereof, Employer will pay to Executive (a) Base Salary for a period of twelve (12) months following the date of termination (calculated at the Base Salary rate in effect as of the date of termination) payable in equal installments at the times Base Salary would have been paid had the Employment Period not been terminated; (b) when and if due pursuant to the provisions of Section 3.2 hereof, the prorated Bonus for the then current Bonus Year and (c) if applicable, the Bonus for the last full Bonus Year pursuant to Section 3.2. Employer shall have no obligation to continue any other benefits provided for in Section 3 past the date of termination, except as provided in Section 3.4.

Termination Without Cause by Employer or for Good Reason by Executive. If the Employment Period is terminated by Employer pursuant to the provisions of Section 5.1 hereof or by Executive pursuant to the provisions of Section 5.3 hereof, Employer will pay to Executive (i) Executive's Base Salary through the date of termination, (ii) within five (5) days following the date of termination in one lump sum an amount equal to the greater of the (a) Base Salary multiplied by the number of full and partial years then remaining in the Employment Period (assuming no termination) and (b) one year's Base Salary (calculated in each case at the Base Salary rate then in effect); and (iii) on the date due pursuant to the provisions of Section 4.2 hereof, the bonus for the then current Bonus Year, without proration. All other benefits provided for in Sections 4.3, 4.4, 4.5 and Section 4.9 shall be continued at the expense of Employer for the longer of the balance of the unexpired of the Employment Period (assuming no termination) and twelve months from the date of termination.

Termination Without Cause by Employer or for Good Reason by Executive. In the event Executive's employment is terminated without Cause by the Employer or for Good Reason by the Executive, Executive shall be entitled to the following: (i) lump sum payment of an amount equal to 1.5 times Executive's then current annual base salary; (ii) a cash payment in lieu of Discretionary Bonus equal to 1.5 times the average annual Discretionary Bonus received by Executive for the five year period ended with Employer's last complete fiscal year prior to termination without Cause by the Employer or for Good Reason by the Executive; and

Termination Without Cause by Employer or for Good Reason by Executive. If the Employment Period is terminated by Employer pursuant to the provisions of Section 5.1 hereof or by Executive pursuant to the provisions of Section 5.3 hereof, Employer will pay to Executive (i) within thirty (30) days following the date of termination an amount equal to the greater of the (a) Base Salary for the balance of the Employment Period (assuming no termination) and (b) one year's Base Salary (calculated in each case at the Base Salary rate then in effect); and (ii) on the date due pursuant to the provisions of Section 4.2 hereof, the bonus for the then current Bonus Year, without proration. All other benefits provided for in Sections 4.3, 4.4, 4.5 and Section 4.9 shall be continued at the expense of Employer for the longer of the balance of the unexpired of the Employment Period (assuming no termination) and twelve months from the date of termination.

Termination Without Cause by Employer or for Good Reason by Executive. If the Employment Period is terminated by Employer pursuant to the provisions of Section 5.1 hereof or by Executive pursuant to the provisions of Section 5.3 hereof, Employer will pay to Executive the greater of (a) Base Salary for the balance of the Employment Period, or (b) Base Salary for one (1) year, calculated in each case, at the applicable Base Salary rate which would have been in effect for each year during the balance of Employment Period, assuming no termination, payable in equal installments at the times Base Salary would have been paid had the Employment Period not been terminated. All other benefits provided for in Section 4.3 shall be continued at the expense of Employer for the period that payments are required to be made pursuant to the preceding provisions of this Section 6.1.

Termination Without Cause by Employer or for Good Reason by Executive. If the Employment Period is terminated by Employer without Cause or by Executive for Good Reason, Employer will pay to Executive one dollar ($1) less than the amount that would constitute a "excess parachute payment" under Code Section 280G. Employer shall pay to the Executive such amount in a lump sum cash payment as soon as practicable following the effective date of such termination. Employer shall also continue to provide the Executive with all employee benefits and perquisites which he was participating in or receiving at the effective date of termination (or if greater, at the end of the prior year) for two years. If such benefits cannot be provided under the Employer's programs, such benefits and perquisites will be provided on a tax effective basis on an individual basis to the Executive.

Termination Without Cause by Employer or for Good Reason by Executive. In the event Executive’s employment is terminated without Cause by the Employer or for Good Reason by the Executive, and such termination constitutes a “separation from service” under Section 409A of the Code, Executive shall be entitled to the following: (i) lump sum payment of an amount equal to 1.5 times Executive’s then current annual base salary; (ii) a cash payment in lieu of Bonus equal to 1.5 times the average annual Bonus received by Executive for the five year period ended with Employer’s last complete fiscal year prior to termination without Cause by the Employer or for Good Reason by the Executive; and (iii) all those additional amounts described above in 7(a)ii, iii, iv and v.