Common use of TERMINATION WITHOUT CAUSE; VOLUNTARY RESIGNATION Clause in Contracts

TERMINATION WITHOUT CAUSE; VOLUNTARY RESIGNATION. If the Company terminates the Executive's employment without Cause upon or within (and including) 24 months after a Change in Control, the Executive shall be entitled to the severance benefits set forth in paragraph 2(e). The Executive may voluntarily terminate his employment without Good Reason, and in such event the Executive's right to further Base Salary payments and Annual Bonus (except Annual Bonus prorated to the Termination Date) shall terminate on the effective date of such resignation, the Executive's rights to other compensation and benefits shall be determined under the benefit plans and policies applicable to the Company's executives as then in effect, and the Executive shall continue to be obligated under paragraph 7, 9 and 10 hereof.

Appears in 4 contracts

Samples: Provell Inc, And Noncompete Agreement (Damark International Inc), And Noncompete Agreement (Damark International Inc)

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TERMINATION WITHOUT CAUSE; VOLUNTARY RESIGNATION. If the Company terminates the Executive's employment without Cause upon or within (and including) 24 months after a Change in ControlCause, the Executive shall be entitled to the severance benefits set forth in paragraph 2(e4(e). The Executive may voluntarily terminate his employment without Good ReasonReason (other than as provided in paragraph 4(b)) prior to the expiration of the term of this Agreement, and in such event the Executive's right rights to further Base Salary payments and Annual Bonus (except Annual Bonus prorated to the Termination Date) shall terminate on the effective date of such resignation, the Executive's rights to other compensation and benefits shall be determined under the benefit plans and policies applicable to the Company's executives as then in effect, and the Executive shall continue to be obligated under paragraph 7paragraphs 9, 9 11 and 10 12 hereof.

Appears in 1 contract

Samples: Credit Agreement (Damark International Inc)

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