Common use of Voluntary Termination, Death or Disability Clause in Contracts

Voluntary Termination, Death or Disability. In the event of Executive's voluntary termination from employment with the Company, Executive shall be entitled to no compensation or benefits from the Company other than those earned under Section 3 through the date of his termination and, in the case of each stock option, restricted stock award or other Company stock-based award granted to Executive, the extent to which such awards are vested through the date of his termination. In the event that Executive's employment terminates as a result of his death or disability, Executive shall be entitled to a pro-rata share of the Target Bonus (presuming performance meeting, but not exceeding, target performance goals) in addition to all compensation and benefits earned under Section 3 through the date of termination.

Appears in 6 contracts

Samples: Employment Agreement (Oxis International Inc), Employment Agreement (Genesis Biopharma, Inc), Employment Agreement (Genesis Biopharma, Inc)

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Voluntary Termination, Death or Disability. In the event of Executive's ’s voluntary termination from employment with the Company, Executive shall be entitled to no compensation or benefits from the Company other than those earned under Section 3 through the date of his termination and, in the case of each stock option, restricted stock award or other Company stock-based award granted to Executive, the extent to which such awards are vested through the date of his termination. In the event that Executive's ’s employment terminates as a result of his death or disability, Executive shall be entitled to a pro-rata share of the Target Bonus (presuming performance meeting, but not exceeding, target performance goals) in addition to all compensation and benefits earned under Section 3 through the date of termination.

Appears in 2 contracts

Samples: Employment Agreement (Next Group Holdings, Inc.), Employment Agreement (Next Group Holdings, Inc.)

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Voluntary Termination, Death or Disability. In the event of Executive's ’s voluntary termination from employment with the Company, Executive shall be entitled to no compensation or benefits from the Company other than those earned under Section 3 through the date of his termination and, in the case of each stock option, restricted stock award or other Company stock-based award granted to Executive, the extent to which such awards are vested through the date of his termination. In the event that Executive's ’s employment terminates as a result of his his/her death or disability, Executive shall be entitled to a pro-rata share of the Target Bonus (presuming performance meeting, but not exceeding, target performance goals) in addition to all compensation and benefits earned under Section 3 through the date of termination.

Appears in 2 contracts

Samples: Employment Agreement (E Trade Financial Corp), Employment Agreement (E Trade Financial Corp)

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