Voluntary Termination of Full-Time Employment by Executive Other than for Good Reason Sample Clauses

Voluntary Termination of Full-Time Employment by Executive Other than for Good Reason. If the Executive desires to voluntarily terminate his full-time employment with the Company other than for "Good Reason" (as defined below), then Executive shall provide the Company with written notice of such termination. Subject to Executive entering into the Release, the Executive shall remain employed by the Company as a part-time employee for a period commencing with the date upon which the Company is given (or deemed given) such written notice from Executive and terminating at the end of the following (i) twelve months, if such notice is given (or deemed given) to the Company prior to the one-year anniversary of the Effective Time (a "First Year Voluntary Termination"), (ii) thirty-six months, if such notice is given (or deemed given) to the Company on or after the one-year anniversary but prior to the second anniversary of the Effective Time (a "Second Year Voluntary Termination"), or (iii) twelve months, if such notice is given (or deemed given) to the Company on or after the second anniversary of the Effective Time but prior to the fifth anniversary of the Effective Time (a "Post-Second Year Voluntary Termination"), in each case after which period Executive's employment with the Company shall terminate. In connection with the Part-Time Employment Term arising in connection with a First Year Voluntary Termination, Executive shall be paid (i) Base Salary, paid in accordance with the Company's normal payroll practices, (ii) an annual bonus equal to the amount that would otherwise have been payable to Executive upon Executive's achievement of 100% of his individual bonus objectives (in distinction to Company bonus objectives, which shall be based upon actual Company performance for such fiscal year) for the Company's fiscal year in which Executive's transition to part-time employment occurs (the "Target Bonus"), and (iii) a pro-rated bonus for the Company's fiscal year in which Executive's part-time employment terminates (the "Part-Time Employment Termination Fiscal Year") determined by multiplying the amount that would otherwise have been payable to Executive upon Executive's achievement of 100% of his individual bonus objectives (in distinction to Company bonus objectives, which shall be based upon actual Company performance for such fiscal year) for the Part-Time Employment Termination Fiscal Year by a fraction, the numerator of which is the number of days in the Part-Time Employment Termination Fiscal Year covered by the Part-Time Employment Term ...
Sample 1
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Voluntary Termination of Full-Time Employment by Executive Other than for Good Reason. If the Executive desires to voluntarily terminate his full-time employment with the Company, then Executive shall provide the Company with written notice of such termination. Subject to Executive entering into the Release, the Executive shall remain employed by the Company as a part-time employee on the terms described herein. If such notice is given (or deemed given) to the Company on or after April 30, 1998, the Part-Time Employment Term shall be 36 months. During such 36-month period, Executive shall be paid
Sample 1

Related to Voluntary Termination of Full-Time Employment by Executive Other than for Good Reason

  • 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 of Employment by Executive The Executive may terminate his employment at any time. In such event, the Company shall continue to pay to the Executive in the ordinary and normal course of its business his Salary and earned Warrants and Shares (subject to applicable payroll and/or other taxes required by law to be withheld) through the Termination Date set forth in the Termination Notice.

  • 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 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 of Employment by Employee The Employee may terminate his employment at any time. However, he shall be deemed to have terminated his employment for "Good Reason" only if he terminates his employment by giving Notice of Termination pursuant to Paragraphs 6(d) and 6(e)(iii) within ninety (90) days after the occurrence of any of the following events (provided the Company does not cure such event within ten (10) days following its receipt of the Employee's Notice of Termination):

  • Termination by Executive Without Good Reason Executive may terminate his employment upon 30 days’ written notice to the Company. In the event Executive terminates his employment in this manner, he shall remain in the Company’s employ subject to all terms and conditions of this Agreement for the entire 30-day period unless instructed otherwise by the Company in writing.

  • 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.

  • Resignation by Executive without Good Reason The Executive may voluntarily terminate employment with the Company during the term of this Agreement, upon at least 60 days’ prior written notice to the Board of Directors, in which case the Executive shall receive only his compensation, vested rights, and Executive benefits up to the date of his termination of employment.

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

  • Termination by Executive The Executive may terminate his employment hereunder at any time for any reason by giving the Company prior written notice not less than 30 days prior to such termination. Any termination pursuant to this paragraph 3(e) shall preclude a later claim that such termination was for Good Reason.

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