Common use of Terms of Employment; Obligation of the Company upon Termination of Employment Clause in Contracts

Terms of Employment; Obligation of the Company upon Termination of Employment. The Executive and the Company acknowledge that the employment of the Executive by the Company is "at will" and, prior to the Effective Date, may be terminated by either the Executive or the Company at any time. Except as specifically provided in Sections 7(b), (c) and (d) of this Agreement, the terms of Executive's employment and the continuing participation of Executive in any plan, program, policy or practice provided by the Company or any of its affiliated companies prior to the Effective Date or upon Executive's termination of employment prior to the Effective Date (either by Executive or the Company) shall be governed by the then existing plan, program, policy or practice of the Company or any of its affiliated companies.

Appears in 5 contracts

Samples: Employment Agreement (Microfinancial Inc), Employment Agreement (Microfinancial Inc), Employment Agreement (Microfinancial Inc)

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Terms of Employment; Obligation of the Company upon Termination of Employment. The Executive and the Company acknowledge that the employment of the Executive by the Company is "at will" and, prior to the Effective Date, may be terminated by either the Executive or the Company at any time. Except as specifically provided in Sections 7(b), (c) and (dc) of this Agreement, the terms of Executive's employment and the continuing participation of Executive in any plan, program, policy or practice provided by the Company or any of its affiliated companies prior to the Effective Date or upon Executive's termination of employment prior to the Effective Date (either by Executive or the Company) shall be governed by the then existing plan, program, policy or practice of the Company or any of its affiliated companies.

Appears in 3 contracts

Samples: Employment Agreement (Microfinancial Inc), Employment Agreement (Microfinancial Inc), Employment Agreement (Microfinancial Inc)

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Terms of Employment; Obligation of the Company upon Termination of Employment. The Executive and the Company acknowledge that the employment of the Executive by the Company is "at will" and, prior to the Effective Date, may be terminated by either the Executive or the Company at any time. Except as specifically provided in Sections 7(b), (c) and (dc) of this Agreement, the terms of Executive's ’s employment and the continuing participation of Executive in any plan, program, policy or practice provided by the Company or any of its affiliated companies prior to the Effective Date or upon Executive's ’s termination of employment prior to the Effective Date (either by Executive or the Company) shall be governed by the then existing plan, program, policy or practice of the Company or any of its affiliated companies.

Appears in 2 contracts

Samples: Employment Agreement (Microfinancial Inc), Employment Agreement (Microfinancial Inc)

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