Termination Without Cause; Death/Disability; Resignation for Good Reason Sample Clauses

Termination Without Cause; Death/Disability; Resignation for Good Reason. During the Initial Term, or any Renewal Term, of this Agreement, if the Executive's employment is terminated by the Company without Cause or the Executive voluntarily terminates his employment with the Company for Good Reason, or Executive's employment is terminated by reason of death or disability, then the Company shall immediately pay to the Executive or his estate a lump sum severance payment equal to the total sum of the Executive's then current base salary as provided in Section 3 as would be due in the aggregate (absent the termination) for the remainder of the entire Initial Term, or Renewal Term, as the case may be, of this Agreement, not to be less than three (3) months of the Executive's then current base salary. Provided, however, in the event the Executive's employment is terminated during the Initial Term or any Renewal Term by reason of death or disability, the Company shall be entitled to an offset against any lump sum payment obligation due under this subsection e as a result of said death or disability an amount equal to (i) any death proceeds payable to the Executive's estate or his designated beneficiary arising from any Company group plan insurance policy insuring the life of the Executive carried by the Company, or (ii) in the event of termination by reason of disability during the Initial Term, by the aggregate disability benefits which the Executive would be eligible to receive during the remainder of the Initial Term under a disability insurance policy on the Executive carried by the Company, or if during any Renewal Term, by an amount equal to the first three months of disability payments to which the Executive is eligible to receive under a disability policy on the Executive carried by the Company. In addition, the Company shall maintain in full force and effect for the continued benefit of the Executive, for the remaining term of this Agreement, all employee benefit plans and programs or arrangements in which the Executive was entitled to participate immediately prior to the date of termination, provided that his continued participation is possible under the general terms and provisions of such plans and programs. In the event that the Executive's participation in any such plan or program is barred, the Company shall arrange to provide the Executive with benefits substantially similar to those to which he is entitled to receive under such plans and programs. The Company represents that it will cause to be set aside all necessary...
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Termination Without Cause; Death/Disability; Resignation for Good Reason. During the Initial Term of this Agreement, if the Employee's employment is terminated by the Employer without Cause or the Employee voluntarily terminates his employment with the Employer for Good Reason, or Employee's employment is terminated by reason of death or disability, then the Employer shall immediately pay to the Employee or his estate a lump sum severance payment equal to the total sum of the Employee's then current base salary as provided in Section 3 as would be due in the aggregate (absent the termination) for the remainder of the entire Initial Term of this Agreement. In addition, during any renewal terms, if any, of this Agreement following the Initial Term, if the Employee's employment is terminated by the Employer without Cause, or by reason of death or disability, or the Employee voluntarily terminates his employment with the Employer for Good Reason then the Employer shall immediately pay to the Employee or his estate a lump sum severance payment equal to three (3) months of Employee's then current base salary. Provided, however, in the event the Employee's employment is terminated during the Initial Term or any renewal term by reason of death or disability, the Employee shall be entitled to an offset against any lump sum payment obligation due under this subsection (e) or any pro-rata bonus under Section 4 as a result of said death or disability equal to (i) any death proceeds payable to the Employee's estate or designated beneficiary arising from any insurance policy insuring the life of the Employee carried by the Employer, if any, or (ii) in the event of termination by reason of disability during the Initial Term, by the aggregate disability benefits which the Employee would be eligible to receive during the remainder of
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Related to Termination Without Cause; Death/Disability; Resignation for Good Reason

  • Termination for Cause; Resignation Without Good Reason; Death or Disability (i) The Company may terminate Executive’s employment with the Company at any time for Cause. Further, Executive may resign at any time without Good Reason. Executive’s employment with the Company may also be terminated due to Executive’s death or disability.

  • Termination Without Cause; Termination for Good Reason If the Company shall terminate the Executive’s employment, other than for Cause, or the Executive shall terminate his employment for Good Reason, then;

  • Termination Without Cause; Resignation for Good Reason (i) The Company may terminate Executive’s employment with the Company at any time without Cause (as defined below). Further, Executive may resign at any time for Good Reason (as defined below).

  • Termination Without Cause or Resignation for Good Reason If (1) Company terminates Employee’s employment during the Initial Term other than (a) due to Employee’s death or Disability or (b) for Cause (as defined below); or (2) if Employee resigns from Employee’s employment for Good Reason (as defined below) during the Initial Term, Employee shall receive the Accrued Amounts on the Date of Termination and, in addition, subject to the Severance Conditions below, (i) Company shall provide a severance payment equal to three (3) months of Employee’s salary as of the Date of Termination (the “Severance Payment”), divided and paid in equal installments over a period of three (3) months in accordance with Company’s regular payroll practices starting on the first regular payday occurring after the effective date of the Release (as defined below), and (ii) the Company will reimburse Employee for COBRA premiums (at the coverage levels and at the Company-paid rate in effect immediately prior to such termination) for Employee and Employee’s covered dependents until the earliest of (A) the date that is three (3) months following the Date of Termination, (B) the date that Employee (or Employee’s spouse or dependents, as applicable) are no longer eligible for COBRA coverage or (C) the date when Employee receives substantially equivalent health insurance coverage in connection with new employment (the “COBRA Benefit”). Company’s obligation to pay Employee the Severance Payment and COBRA Benefit shall be conditioned on Employee’s satisfaction of the following (the “Severance Conditions”): (1) Employee must first sign, and allow to become effective, a Company-approved separation agreement, which shall include a full general release in a form acceptable to Company, releasing all claims, known or unknown, that Employee may have against Company arising out of or any way related to Employee’s employment or termination of employment with Company (the “Release”); and (2) on or before the effective date of the Release, Employee must have (i) reconfirmed Employee’s agreement to abide by all of the surviving provisions of this Agreement and any other agreement between Employee and Company, (ii) agreed to cooperate in the transition of Employee’s employment; and (iii) agreed not to make any voluntary statements, written or oral, or cause or encourage others to make any such statements that defame, disparage, or in any way criticize the personal and/or business reputations, practices, or conduct of the Company or any of its affiliates. All other Company obligations to Employee will be automatically terminated and completely extinguished.

  • Termination for Cause, or Termination Upon Death, Disability or Resignation from the Company Without Good Reason If Executive’s employment shall terminate as a result of Executive’s death pursuant to Section 3(a)(i) or Disability pursuant to Section 3(a)(ii), pursuant to Section 3(a)(iii) for Cause, or pursuant to Section 3(a)(vi) for Executive’s resignation from the Company without Good Reason, then Executive shall not be entitled to any severance payments or benefits, except as provided in Section 3(c).

  • Termination Without Cause or Termination for Good Reason (a) The Company may terminate the Executive's employment hereunder without Cause, and the Executive shall be permitted to terminate his employment hereunder for Good Reason (as hereinafter defined). If the Company terminates the Executive's employment hereunder without Cause, other than due to death or Disability, or if the Employee effects a termination for Good Reason, the Executive shall be entitled to receive all the benefits provided for under Section 3.6 of this Agreement.

  • Termination for Cause; Resignation Without Good Reason If the Company terminates Executive’s employment with the Company for Cause, or Executive resigns without Good Reason, then Executive will not be entitled to any further compensation from the Company (other than accrued salary, and accrued and unused vacation, through Executive’s last day of employment), including severance pay, pay in lieu of notice or any other such compensation.

  • Termination for Cause; Voluntary Termination If at any time during the Term the Executive’s employment with the Company is terminated pursuant to Section 4.6 or 4.7, the Executive shall be entitled to only the following:

  • Good Reason; Other Than for Cause, Death or Disability If, during the Employment Period, the Company shall terminate the Executive's employment other than for Cause or Disability or the Executive shall terminate employment for Good Reason:

  • Involuntary Termination Without Cause and Voluntary Termination with Good Reason With written notice to the Executive at least thirty (30) days in advance, the Bank may terminate the Executive’s employment without Cause. Termination shall take effect at the end of the notice period. With advance written notice to the Bank as provided in clause (y), the Executive may terminate employment for Good Reason. If the Executive’s employment terminates involuntarily without Cause or voluntarily but with Good Reason, the Executive shall be entitled to the benefits specified in Article 4 of this Agreement. For purposes of this Agreement, a voluntary termination by the Executive shall be considered a voluntary termination with Good Reason if the conditions stated in both clauses (x) and (y) of this Section 3.4 are satisfied:

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