Voluntary Resignation by Executive or Termination With Cause Sample Clauses

Voluntary Resignation by Executive or Termination With Cause. In the event of the termination of the Executive's employment hereunder by the Company for Cause or by Voluntary Resignation by Executive, in each case, prior to the expiration of the Term, the Company shall have no responsibility or obligation to make any payments or provide any benefits to the Executive except to the extent provided in Section 5(e) hereof.
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
Voluntary Resignation by Executive or Termination With Cause. In the event of the termination of the Executive's employment hereunder by the Company for Cause or by Voluntary Resignation by Executive, in each case, prior to the expiration of the Term, the Company shall have no responsibility or obligation to make any payments or provide any benefits to the Executive except to the extent provided in Section 5(e) hereof. Furthermore, in the event of such termination during the first twelve months of the Term (the "Reimbursement Period"), the Executive shall be obligated to repay to the Company a pro-rated portion of the Signing Bonus and the Relocation Expenses, based upon the number of months of the Reimbursement Period remaining as of the date of such termination of employment. By way of example, in the event of such termination after three and one-half months of employment, eight months of the Reimbursement Period would remain, and the Executive would therefore be obligated to repay an amount equal to 8/12ths of the Signing Bonus and the Relocation Expenses. The Executive hereby expressly authorizes the Company, at any time following the date that the Executive provides notice of his Voluntary Resignation or the Company provides notice of the termination of the Executive's employment for Cause, to deduct from any amounts owed to the Executive, including any payments of salary or expenses, any amount payable by the Executive pursuant to this Section 5(d). In the event that the Company fails to so deduct any such amount, or such deductions are insufficient to reimburse the Company for the total amount payable by the Executive pursuant to this Section 5(d), the Executive shall repay the remaining amount owed promptly upon the Company's written demand for payment. If the Executive fails to repay such amount after such written demand, the Executive shall reimburse the Company for all reasonable costs and expenses incurred by the Company to collect such amount from the Executive, including court costs and reasonable attorneys' fees.
Sample 1

Related to Voluntary Resignation by Executive or Termination With Cause

  • Voluntary Resignation by Executive Executive may voluntarily resign Executive’s position with Company for any reason, at any time after the Effective Date, on five (5) days’ advance written notice. In the event of Executive’s resignation, Executive will be entitled to receive only the Base Salary for the five-day notice period and no other amount (other than amounts to which Executive is entitled pursuant to Section 5 or 6 hereof). All other Company obligations to Executive pursuant to this Agreement will become automatically terminated and completely extinguished upon termination of employment. In addition, Executive will not be entitled to receive any other Severance Benefits described in Section 7.2, above. The provisions of this Section 7.4 shall not apply to Executive’s resignation for Good Reason.

  • Voluntary Resignation by Executive Without Good Reason Executive may voluntarily resign Executive’s position with Company without Good Reason, at any time after the Initial Term, on thirty (30) days’ advance written notice. In the event of Executive’s resignation without Good Reason, Executive will be entitled to receive only the Base Salary for the thirty-day notice period and no other amount for the remaining months of the current term, if any. All other Company obligations to Executive pursuant to this Agreement will become automatically terminated and completely extinguished. In addition, executive will not be entitled to receive the Severance Payment described in subparagraph 7.2 above.

  • Voluntary Resignation or Termination for Cause If the Employee's employment with the Company terminates as a result of the Employee's voluntary resignation which is not an Involuntary Termination or if the Employee is terminated for Cause at any time after a Change of Control, then the Employee shall not be entitled to receive severance or other benefits hereunder, but may be eligible for those benefits (if any) as may then be established under the Company's then existing severance and benefits plans and policies at the time of such termination.

  • Voluntary Termination by Executive The Executive may voluntarily terminate his employment for any reason and such termination shall take effect 30 days after the receipt by Company of the Notice of Termination. Upon the effective date of such termination, Executive shall be entitled to (a) accrued and unpaid Salary and vacation through such termination date; and (b) all other compensation and benefits that were vested through such termination date. In the event Executive is terminated without notice, it shall be deemed a termination by the Company for Cause.

  • Termination by Executive with Good Reason Executive may terminate Executive’s employment with Good Reason by providing the Company fifteen (15) days’ written notice setting forth in reasonable specificity the event that constitutes Good Reason, which written notice, to be effective, must be provided to the Company within sixty (60) days of the occurrence of such event. During such fifteen (15) day notice period, the Company shall have a cure right (if curable), and if not cured within such period, Executive’s termination will be effective upon the date immediately following the expiration of the fifteen (15) day notice period, and Executive shall be entitled to the same payments and benefits as provided in Section 8(d) above for a termination without Cause, it being agreed that Executive’s right to any such payments and benefits shall be subject to the same terms and conditions as described in Section 8(d) above. Following termination of Executive’s employment by Executive with Good Reason, except as set forth in this Section 8(e), Executive shall have no further rights to any compensation or any other benefits under this Agreement.

  • Termination by Employer Without Cause or by Executive for Good Reason If Employer terminates Executive’s employment without Cause, or if Executive terminates his employment for Good Reason, Employer shall pay Executive in a lump sum: (i) all Base Salary earned and all reimbursable expenses incurred under this Agreement through such termination date; and (ii) an amount equal to one (1) times Executive’s highest Base Salary over the prior three (3) years. The amount described in 5.b.(i) herein shall be paid no later than forty-five (45) days after the day on which employment is terminated. The amount described in 5.b.(ii) herein shall be paid on the first day of the month following a period of six (6) months after the termination of employment, provided that the payment may be made sooner if either (i) the amount does not exceed the IRC Safe Harbor or (ii) at the Executive’s election, the amount described in Section 5.a.(ii) is reduced to fit within the IRC Safe Harbor. No payment will be made pursuant to Section 5.a.(ii) unless the Executive has signed a Release Agreement which has become irrevocable prior to the payment date.

  • Termination by Executive other than for Good Reason Executive’s employment may be terminated by Executive without further liability on the part of Executive (other than with respect to those provisions of this Agreement expressly surviving such termination) by written notice to the Board of Directors at least sixty (60) days prior to such termination; provided, however, the Company may waive the notice period and accelerate the termination date without converting the Termination by Executive into a Termination by the Company.

  • Termination by Executive for Good Reason The Executive may terminate employment for Good Reason. For purposes of this Agreement, “Good Reason” shall mean:

  • Resignation by Executive for Good Reason (a) Provided Executive has not previously been notified of the Company’s intention to terminate Executive’s employment, Executive may resign from employment with the Company for Good Reason (as defined in Section 6.4(b) below).

  • Voluntary Resignation; Termination for Cause If Executive’s employment with the Company terminates (i) voluntarily by Executive (other than for Good Reason) or (ii) for Cause by the Company, then Executive will not be entitled to receive severance or other benefits except for those (if any) as may then be established under the Company’s then existing severance and benefits plans and practices or pursuant to other written agreements with the Company.

Time is Money Join Law Insider Premium to draft better contracts faster.