Common use of Voluntary Resignation without Good Reason Clause in Contracts

Voluntary Resignation without Good Reason. Executive may terminate Executive's employment by providing Employer with 30 days' advance written notice, which notice period may be waived by the Company in its discretion and will be deemed to be waived in the case of the Executive's effective resignation due to death or Disability (as defined below). If Executive terminates Executive's employment (other than for Good Reason (as defined below) or by reason of death or Disability (as defined below)) (i) Employer shall pay to Executive the Accrued Obligations (as defined below), (ii) Executive's participation in the Benefit Plans shall terminate as of the Termination Date, and (iii) Employer shall have no other obligations to Executive under this Agreement, other than those provided in this Section 5.01. (a) For purposes of this Agreement, "Accrued Obligations" means: (i) Executive's earned and unpaid Base Salary through the Termination Date; (ii) reimbursement for any reimbursable business expenses incurred by Executive through the Termination Date in accordance with Section 4.05; and (iii) Executive's accrued but unused vacation time as of the Termination Date. The Accrued Obligations payable hereunder shall be paid no later than sixty (60) days following Executive's Termination Date.

Appears in 2 contracts

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

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Voluntary Resignation without Good Reason. Executive may terminate Executive's ’s employment by providing Employer with 30 thirty (30) days' advance written notice, which notice period may be waived by the Company in its discretion and will be deemed to be waived in the case of the Executive's effective resignation due to death or Disability (as defined below). If Executive terminates Executive's ’s employment (other than for Good Reason (as defined below)) or by reason of death or Disability Disability, (as defined below)) (i) Employer shall pay to Executive the Accrued Obligations (as defined below), (ii) Executive's ’s participation in the Benefit Plans shall terminate as of the Termination Date, and (iii) Employer shall have no other obligations to Executive under this Agreement, other than those provided in this Section 5.015.1. (a) For purposes of this Agreement, "Accrued Obligations" means: (i) Executive's ’s earned and unpaid Base Salary through the Termination Date; (ii) reimbursement for any reimbursable business expenses incurred by Executive through the Termination Date in accordance with Section 4.054.5; and (iii) Executive's ’s accrued but unused vacation paid time off as of the Termination Date. The Accrued Obligations amounts payable hereunder pursuant to clauses (ii) and (iii) hereof shall be paid no later than sixty (60) days following Executive's ’s Termination Date, whereas the amounts payable pursuant to clause (i) shall be paid on the next regularly scheduled payroll cycle following the Termination Date.

Appears in 1 contract

Samples: Employment Agreement (Applied Genetic Technologies Corp)

Voluntary Resignation without Good Reason. Executive may terminate Executive's ’s employment by providing Employer with 30 days' advance written notice, which notice period may be waived by the Company in its discretion and will be deemed to be waived in the case of the Executive's ’s effective resignation due to death or Disability (as defined below). If Executive terminates Executive's ’s employment (other than for Good Reason (as defined below) or by reason of death or Disability (as defined below)) (i) Employer shall pay to Executive the Accrued Obligations (as defined below), (ii) Executive's ’s participation in the Benefit Plans shall terminate as of the Termination Date, and (iii) Employer shall have no other obligations to Executive under this Agreement, other than those provided in this Section 5.01. (a) For purposes of this Agreement, "Accrued Obligations" means: (i) Executive's ’s earned and unpaid Base Salary through the Termination Date; (ii) reimbursement for any reimbursable business expenses incurred by Executive through the Termination Date in accordance with Section 4.05; and (iii) Executive's ’s accrued but unused vacation time as of the Termination Date. The Accrued Obligations payable hereunder shall be paid no later than sixty (60) days following Executive's ’s Termination Date.

Appears in 1 contract

Samples: Employment Agreement (Macrogenics Inc)

Voluntary Resignation without Good Reason. Executive may terminate Executive's employment by providing Employer with 30 days' advance written notice, which . Employer may waive some or all of such notice period may be waived by and accelerate the Company in its discretion and Termination Date, or request that Executive not report to work for some of all such notice period notice, neither of which will be deemed to be waived in the case of the Executive's effective resignation due to death a termination by Employer or Disability (as defined below)a Good Reason event. If Executive terminates Executive's employment (other than for Good Reason (as defined below) or by reason of death or Disability (as defined below)) ): (i) Employer shall pay to Executive the Accrued Obligations (as defined below), (ii) Executive's participation in the Benefit Plans shall terminate as of the Termination Date, and (iii) Employer shall have no other obligations to Executive under this Agreement, other than those provided in this Section 5.01. (a) For purposes of this Agreement, "Accrued Obligations" means: (i) Executive's earned and unpaid Base Salary through the Termination Date; (ii) reimbursement for any reimbursable business expenses incurred by Executive through the Termination Date in accordance with Section 4.05; and (iii) Executive's accrued but unused vacation time as of the Termination Date. The Accrued Obligations amounts payable hereunder shall be paid no later than sixty (60) days following Executive's Termination Date...

Appears in 1 contract

Samples: Employment Agreement (Macrogenics Inc)

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Voluntary Resignation without Good Reason. Executive may terminate Executive's ’s employment by providing Employer with 30 days' advance written notice, which . Employer may waive some or all of such notice period may be waived by and accelerate the Company in its discretion and Termination Date, or request that Executive not report to work for some of all such notice period notice, neither of which will be deemed to be waived in the case of the Executive's effective resignation due to death a termination by Employer or Disability (as defined below)a Good Reason event. If Executive terminates Executive's ’s employment (other than for Good Reason (as defined below) or by reason of death or Disability (as defined below)) ): (i) Employer shall pay to Executive the Accrued Obligations (as defined below), (ii) Executive's ’s participation in the Benefit Plans shall terminate as of the Termination Date, and (iii) Employer shall have no other obligations to Executive under this Agreement, other than those provided in this Section 5.01. (a) For purposes of this Agreement, "Accrued Obligations" means: (i) Executive's ’s earned and unpaid Base Salary through the Termination Date; (ii) reimbursement for any reimbursable business expenses incurred by Executive through the Termination Date in accordance with Section 4.05; and (iii) Executive's ’s accrued but unused vacation time as of the Termination Date. The Accrued Obligations amounts payable hereunder shall be paid no later than sixty (60) days following Executive's ’s Termination Date.

Appears in 1 contract

Samples: Employment Agreement (Macrogenics Inc)

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