Withdrawal from Business. The Company shall terminate this ------------------------ Agreement upon 60 days written notice to the Executive of a bona fide decision by the Company to wind up its business and liquidate its assets (other than in connection with a merger, consolidation, or other event specified in Section 7), and all rights and obligations of both parties are hereto (except those under Section 6.d. hereof) shall cease upon such termination. In this event, the Executive shall be paid the unpaid portion, if any, of his then prevailing salary prorated to the date of termination.
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Samples: Employment Agreement (Industrial Training Corp), Employment Agreement (Industrial Training Corp), Employment Agreement (Industrial Training Corp)
Withdrawal from Business. The Company shall terminate this ------------------------ Agreement upon 60 days written notice to the Executive of a bona fide decision by the Company to wind up its business and liquidate its assets (other than in connection with a merger, consolidation, or other event specified in Section 7), and all rights and obligations of both parties are hereto (except those under Section 6.d. hereof) shall cease upon such termination. In this event, the Executive shall be paid the unpaid portion, if any, of his then prevailing salary prorated to the date of termination.
Appears in 2 contracts
Samples: Employment Agreement (Itc Learning Corp), Employment Agreement (Itc Learning Corp)
Withdrawal from Business. The Company shall terminate this ------------------------ Agreement upon ------------------------ 60 days written notice to the Executive of a bona fide decision by the Company to wind up its business and liquidate its assets (other than in connection with a merger, consolidation, or other event specified in Section 7), and all rights and obligations of both parties are hereto (except those under Section 6.d. hereof) shall cease upon such termination. In this event, the Executive shall be paid the unpaid portion, if any, of his then prevailing salary prorated to the date of termination.
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Withdrawal from Business. The Company shall terminate this Agreement ------------------------ Agreement upon 60 days written notice to the Executive of a bona fide decision by the Company to wind up its business and liquidate its assets (other than in connection with a merger, consolidation, or other event specified in Section 7), and all rights and obligations of both parties are hereto (except those under Section 6.d. hereof) shall cease upon such termination. In this event, the Executive shall be paid the unpaid portion, if any, of his then prevailing salary prorated to the date of termination.
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Withdrawal from Business. The Company shall terminate this ------------------------ Agreement upon 60 sixty days written notice to the Executive Employee of a bona fide decision by the Company to wind up its business and liquidate its assets (other than in connection with a merger, consolidation, or other event specified in Section 7)8), and all rights and obligations of both parties are hereto (except those under Section 6.d. 5(a)(iv) hereof) shall cease upon such termination. In this event, the Executive Employee shall be paid the unpaid portion, if any, of his then prevailing salary prorated to the date of termination.
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