Common use of Voluntary Termination by the Executive Clause in Contracts

Voluntary Termination by the Executive. The Executive may terminate his employment and this Agreement at any time by giving the Company at least forty-five (45) days written notice. The Company reserves the right to require the Executive not to work during the notice period but shall pay the Executive his full Base Salary, at the rate then in effect as provided in Article 5.1 herein, through the notice period plus all other benefits to which the Executive has a vested right on the last day of employment (for purposes of this paragraph, the Executive shall not be paid any Annual Bonus with respect to the fiscal year in which voluntary termination under this Article 7.3 occurs). The Company thereafter shall have no further obligations under this Agreement.

Appears in 7 contracts

Samples: Employment Agreement (Circuit City Stores Inc), Employment Agreement (Circuit City Stores Inc), Employment Agreement (Circuit City Stores Inc)

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Voluntary Termination by the Executive. The Executive may terminate his his/her employment and this Agreement at any time by giving the Company at least forty-five (45) days written notice. The Company reserves the right to require the Executive not to work during the notice period but shall pay the Executive his his/her full Base Salary, at the rate then in effect as provided in Article 5.1 herein, [through the notice period period] or [through the last day of the Executive's employment] plus all other benefits to which the Executive has a vested right on the last day of employment (for purposes of this paragraph, the Executive shall not be paid any Annual Bonus with respect to the fiscal year in which voluntary termination under this Article 7.3 occurs). The Company thereafter shall have no further obligations under this Agreement.

Appears in 3 contracts

Samples: Employment Agreement (Circuit City Stores Inc), Employment Agreement (Circuit City Stores Inc), Employment Agreement (Circuit City Stores Inc)

Voluntary Termination by the Executive. The Executive may terminate his his/her employment and this Agreement at any time by giving the Company at least forty-five (45) days written notice. The Company reserves the right to require the Executive not to work during the notice period but shall pay the Executive his his/her full Base Salary, at the rate then in effect as provided in Article 5.1 herein, [through the notice period period] or [through the last day of the Executive’s employment] plus all other benefits to which the Executive has a vested right on the last day of employment (for purposes of this paragraph, the Executive shall not be paid any Annual Bonus with respect to the fiscal year in which voluntary termination under this Article 7.3 occurs). The Company thereafter shall have no further obligations under this Agreement.

Appears in 2 contracts

Samples: Employment Agreement (Circuit City Stores Inc), Employment Agreement (Circuit City Stores Inc)

Voluntary Termination by the Executive. The Executive may terminate his employment and this Agreement at any time by giving the Company at least forty-five (45) days written notice. The Company reserves the right to require the Executive not to work during the notice period but shall pay the Executive his full Base Salary, at the rate then in effect as provided in Article Section 5.1 herein, through the notice period plus in addition to any deferred compensation and all other benefits to which the Executive has a vested right on the last day of employment (for purposes of this paragraphemployment; provided, however, that the Executive shall not be paid forfeit any Annual Bonus with respect to the fiscal year in which his voluntary termination under this Article Section 7.3 occurs). The Company thereafter shall have no further obligations under this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Carmax Inc)

Voluntary Termination by the Executive. The Executive may terminate his employment and this Agreement at any time by giving the Company at least forty-five (45) days written notice. The Company reserves the right to require the Executive not to work during the notice period but shall pay the Executive his full Base Salary, at the rate then in effect as provided in Article 5.1 herein, [through the notice period period] or [through the last day of the Executive’s employment] plus all other benefits to which the Executive has a vested right on the last day of employment (for purposes of this paragraph, the Executive shall not be paid any Annual Bonus with respect to the fiscal year in which voluntary termination under this Article 7.3 occurs). The Company thereafter shall have no further obligations under this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Circuit City Stores Inc)

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Voluntary Termination by the Executive. The Executive may terminate his employment and this Agreement at any time by giving the Company at least forty-five (45) days written notice. The Company reserves the right to require the Executive not to work during the notice period but shall pay the Executive his full Base Salary, at the rate then in effect as provided in Article 5.1 herein, through the notice period plus all other benefits to which the Executive has a vested right on the last day of employment (for purposes of this paragraph, the Executive shall not be paid any Annual Bonus Incentive with respect to the fiscal year in which voluntary termination under this Article 7.3 occurs). The Company thereafter shall have no further obligations under this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Circuit City Stores Inc)

Voluntary Termination by the Executive. The Executive may terminate his employment and this Agreement at any time by giving the Company at least forty-five (45) days written notice. The Company reserves the right to require the Executive not to work during the notice period but shall pay the Executive his full Base Salary, at the rate then in effect as provided in Article 5.1 herein, or through last day of the notice period Executive’s employment plus all other benefits to which the Executive has a vested right on the last day of employment (for purposes of this paragraph, the Executive shall not be paid any Annual Bonus with respect to the fiscal year in which voluntary termination under this Article 7.3 occurs). The Company thereafter shall have no further obligations under this Agreement.this

Appears in 1 contract

Samples: Employment Agreement (Circuit City Stores Inc)

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