Common use of Voluntary Resignation without Good Reason Clause in Contracts

Voluntary Resignation without Good Reason. If Executive resigns voluntarily without Good Reason, Executive shall not be entitled to further compensation or benefits (except (i) accrued but unpaid Base Salary, earned bonus, or benefits, and (ii) amounts as required by law), beyond the earlier of (1) thirty (30) days from the date Executive gives the Company notice of his resignation or (2) the effective date of Executive’s resignation; provided, however, that the Company may accelerate the effective date of any resignation by providing written notice to Executive of such accelerated effective date, provided that the Company pays and provides to the Executive all Base Salary and benefits that would have been provided to the Executive in the period between his resignation and his original effective date of resignation had he been employed by the Company during such period. Such resignation, by itself, will not give rise to a cause of action by the Company against Executive, and such acceleration of the effective date of any resignation will not give rise to a cause of action by Executive against the Company.

Appears in 2 contracts

Samples: Employment Agreement (Ocera Therapeutics, Inc.), Employment Agreement (Ocera Therapeutics, Inc.)

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Voluntary Resignation without Good Reason. If Executive resigns voluntarily without Good Reason, Executive shall not be entitled to further compensation or benefits (except (i) accrued but unpaid Base Salary, earned bonus, or benefits, and (ii) amounts as required by law), beyond the earlier of (1) thirty (30) days from the date Executive gives the Company notice of his her resignation or (2) the effective date of Executive’s resignation; provided, however, that the Company may accelerate the effective date of any resignation by providing written notice to Executive of such accelerated effective date, provided that the Company pays and provides to the Executive all Base Salary and benefits that would have been provided to the Executive in the period between his her resignation and his her original effective date of resignation had he she been employed by the Company during such period. Such resignation, by itself, will not give rise to a cause of action by the Company against Executive, and such acceleration of the effective date of any resignation will not give rise to a cause of action by Executive against the Company.

Appears in 2 contracts

Samples: Employment Agreement (Ocera Therapeutics, Inc.), Employment Agreement (Ocera Therapeutics, Inc.)

Voluntary Resignation without Good Reason. If Executive resigns voluntarily without Good Reason, Executive shall not be entitled to further compensation or benefits (except (i) accrued but unpaid Base Salary, earned bonus, or benefits, and (ii) amounts as required by law), beyond the earlier of (1) thirty (30) days from the date Executive gives the Company notice of his resignation or (2) following the effective date of Executive’s resignationtermination (except the Accrued Benefit); provided, however, that the Company may accelerate the effective date of any resignation by providing written notice to Executive of such accelerated effective date, provided that the Company pays and provides to the Executive all Base Salary and benefits that would have been provided to the Executive in the period ACTIVE/84668825.3 between his resignation and his original effective date of resignation had he been employed by the Company during such period. Such resignation, by itself, will not give rise to a cause of action by the Company against Executive, and such acceleration of the effective date of any resignation will not give rise to a cause of action by Executive against the Company.

Appears in 1 contract

Samples: Employment Agreement (Ocera Therapeutics, Inc.)

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Voluntary Resignation without Good Reason. If Executive resigns voluntarily without Good Reason, Executive shall not be entitled to further compensation or benefits (except (i) accrued but unpaid Base Salary, earned bonus, or benefits, and (ii) amounts as required by law), beyond the earlier of (1) thirty (30) days from the date Executive gives the Company notice of his resignation or (2) following the effective date of Executive’s resignationtermination (except the Accrued Benefit); provided, however, that the Company may accelerate the effective date of any resignation by providing written notice to Executive of such accelerated effective date, provided that the Company pays and provides to the Executive all Base Salary and benefits that would have been provided to the Executive in the period ACTIVE/84691149.2 between his resignation and his original effective date of resignation had he been employed by the Company during such period. Such resignation, by itself, will not give rise to a cause of action by the Company against Executive, and such acceleration of the effective date of any resignation will not give rise to a cause of action by Executive against the Company.

Appears in 1 contract

Samples: Employment Agreement (Ocera Therapeutics, Inc.)

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