Common use of With Cause; Other than for Good Reason; Due to Death or Disability Clause in Contracts

With Cause; Other than for Good Reason; Due to Death or Disability. If prior to the end of the Employment Term the Executive’s employment is terminated by reason of (i) the Company’s termination of Executive’s employment with Cause or (ii) the Executive’s (a) voluntary termination of his employment other than for Good Reason during a Change of Control Period or (b) death or Disability, then this Agreement shall terminate without further obligations to the Executive hereunder other than for (x) the payment of the Accrued Obligation, which, subject to Paragraph 6(d) of this Agreement, shall be paid to the Executive in a lump-sum in cash within 30 days after the Executive’s Termination Date, and (y) the timely payment or provision of deferred compensation and other employee benefits if and when otherwise due.

Appears in 6 contracts

Samples: Employment Agreement (Dril-Quip Inc), Employment Agreement (Dril-Quip Inc), Employment Agreement (Dril-Quip Inc)

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With Cause; Other than for Good Reason; Due to Death or Disability. If prior to the end of the Employment Term Expiration Date, the Executive’s employment is terminated by reason of (i) the Company’s termination of Executive’s employment with Cause or (ii) the Executive’s (a) voluntary termination of his employment other than for Good Reason during a Change of Control Period or (b) death or Disability, then this Agreement shall terminate without further obligations to the Executive hereunder other than for (x) the payment of the Accrued Obligation, which, subject to Paragraph 6(d) of this Agreement, shall be paid to the Executive in a lump-sum in cash within 30 days after the Executive’s Termination Date, and (y) the timely payment or provision of deferred compensation and other employee benefits if and when otherwise due.

Appears in 1 contract

Samples: Employment Agreement (Dril-Quip Inc)

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