Without Cause by Employer; Material Breach by Employer Sample Clauses

Without Cause by Employer; Material Breach by Employer. In the event that the Employment Period is terminated by Employer pursuant to Section 3.2.4 or by Executive pursuant to Section 3.2.5, Executive shall Executive shall be entitled to receive the following:
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Without Cause by Employer; Material Breach by Employer. In the event that Executive's employment is terminated by Employer pursuant to Section 3.1.4 hereof or by Executive pursuant to Section 3.1.5 hereof, Executive shall be entitled to the following payments and benefits:
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Without Cause by Employer; Material Breach by Employer. In the event that the Executive's employment is terminated by Employer pursuant to Section 3.2.5 hereof or by Executive pursuant to Section 3.2.6 hereof, in addition to the amounts set forth in Section 3.3.1, Employer shall pay to Executive, following the Date of Termination, twelve (12) months of the Base Salary, or of any higher annual compensation rate then in effect (the "Severance Amount"). The Severance Amount shall be paid in twelve (12) monthly installments after the Date of Termination (the first of which shall be paid in the next full payroll cycle after the Date of Termination), each in an amount of $24,166.67, or any higher monthly compensation rate then in effect (the "Monthly Severance Amount"). In addition, an additional bonus shall be paid to Executive at end of the period during which the Monthly Severance Amount is due and payable, in the amount of $72,500.
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Without Cause by Employer; Material Breach by Employer. In the event that the Executive's employment is terminated by Employer pursuant to Section 3.2.4 hereof or by Executive pursuant to Section 3.2.5 hereof, Executive shall be entitled to the following payments: (i) Base Salary through the date the Executive's employment is terminated; and (ii) a pro-rata portion of any amounts Executive would be entitled to under the MICP, if any, accrued on or prior to date Executive's employment is terminated for any reason hereunder. (iii) continuing payments of Base Salary, payable in accordance with the regular payroll practices of Employer, for six (6) months following the date of termination of Executive's employment. 3.3.3.
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Without Cause by Employer; Material Breach by Employer. In the event that the Employment Term is terminated by Employer pursuant to Section 3.2.5 hereof or by Executive pursuant to Section 3.2.6 hereof, Employer shall pay Executive severance in the amount of one (1) times Executive’s Base Salary in effect on the date of termination (“Severance Amount I”). In lieu of and not in addition to Severance Amount I, if a termination as described in the prior sentence occurs within two (2) years after a Change of Control (as defined in Section 3.3.7(d) hereof), Employer shall pay to Executive severance in an amount equal to the product of two (2) multiplied by the sum of Executive’s Base Salary in effect on the date of termination, and if Executive’s termination is not a result of, in whole or in part, Executive’s performance in respect of his duties hereunder, the amount of Executive’s last annual cash bonus for the most recently-completed fiscal year, if any, pursuant to Section 2.2 hereof (“Severance Amount II”). Employer shall pay Severance Amount I in installments, and shall first determine the amount of each installment if Severance Amount I were paid in equal semimonthly installments for twelve (12) months (the “Installment Payment I”) commencing on the forty-fifth (45th) day after the date of termination. Employer shall pay Severance Amount II in installments, and shall first determine the amount of each installment if Severance Amount II were paid in equal semimonthly installments for two (2) years (the “Installment Payment II”) commencing on the forty-fifth (45th) day after the date of termination. If Executive is a “specified employee” as defined under Treas. Reg. §1.409A-1 as of the date of termination, Executive’s installment payments under the applicable schedule above from the forty-fifth (45th) day after the date of termination through the end of the sixth (6th) month after the date of termination shall be reduced in accordance with Section 5.13 of this Agreement and such excess amounts shall be withheld and accumulated and paid to Executive on the first (1st) day of the seventh (7th) month after the date of termination (the “Severance Delayed Payment Date”). In addition, from the first (1st) day of the seventh (7th) month after the date of termination through the end of twelve (12) months after the forty-fifth (45th) day after the date of termination, Employer shall pay the Installment Payments I semimonthly. From the Severance Delayed Payment Date through the end of two (2) years after the forty-fifth ...
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Without Cause by Employer; Material Breach by Employer. In the event that the Employment Term is terminated by Employer pursuant to Section 3.2.5 hereof or by Executive pursuant to Section 3.2.6 hereof, Employer shall pay to Executive, subject to Executive's continued compliance with the terms of Section 4 hereof, an amount equal to the Severance Amount. For purposes hereof, "Severance Amount" shall mean the full annual Base Salary amount in effect at such applicable time. Any payments made in accordance with this Section 3.3.2 shall be made in twelve (12) equal monthly installments from the Date of Termination in accordance with Employer's regular payroll practices.
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Without Cause by Employer; Material Breach by Employer. In the event that the Employment Period is terminated by Employer pursuant to Section 3.2.4 hereof or by Executive pursuant to Section 3.2.5 hereof, Executive shall be entitled to the following payments: (i) Base Salary through the Termination Date; (ii) a pro-rata portion of any amounts Executive would be entitled to under the MICP, if any, accrued on or prior to the Termination Date; and (iii) continuing payments of Base Salary, payable in accordance with regular payroll practices of Employer, for the greater of: [X] twelve (12) months or [Y] the remaining portion of the Employment Period, as it may be extended as provided in Section 3.1 hereof. 3.3.3.
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Related to Without Cause by Employer; Material Breach by Employer

  • Termination by Employer for Cause Employer may terminate Employee’s employment hereunder for “Cause” upon notice to Employee. “Cause” for this purpose shall mean any of the following:

  • Termination by Employer (i) Employer may terminate this Agreement upon written notice for Cause. For purposes hereof, "

  • Without Cause By Employer Employer may, at its option, at any time terminate this Agreement and Employee’s employment hereunder for no reason or for any reason whatsoever (other than for Cause or as a result of Employee’s death or Disability) by giving written notice of termination to Employee.

  • Termination by Employee Employee may terminate his employment under this Agreement by 60 days' written notice to the Company.

  • Termination by Employee for Good Reason Employee may terminate his employment hereunder for "Good Reason." As used herein, "Good Reason" shall mean the continuance of any of the following after ten (10) days' prior written notice by Employee to the Company, specifying the basis for such Employee's having Good Reason to terminate this Agreement:

  • Termination by Employee with Good Reason Employee may terminate his employment with Good Reason by providing the Company thirty (30) days’ written notice setting forth with 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 thirty (30) day notice period, the Company shall have a cure right (if curable), and if not cured within such period, Employee’s termination will be effective upon the date immediately following the expiration of the thirty (30) day notice period, and Employee 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 Employee’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 such termination of Employee’s employment by Employee with Good Reason, except as set forth in this Section 8(e), Employee shall have no further rights to any compensation or any other benefits under this Agreement.

  • Termination by Employee for Cause In the event of a Change of Control (as defined below) of the Company that results in either a substantial reduction or change of title in the Employee’s job duties related to his position as CFO or CEO, ,or a decrease in or a failure to provide the compensation or vested benefits under this Agreement or the Company initiates a substantial reduction or change of title in the Employee’s job duties related to his position as CFO, Employee shall have the right to resign his employment and will be entitled to a lump sum severance payment equal to twelve (12) months of Employee’s then base salary payable within thirty (30) days after the date of termination In addition, Employee will be entitled to payment of all unused vacation days at his current daily rate and a lump sum equal to all deferred salaries and earned bonuses. In addition, all Employee’s then outstanding but unvested stock options shall vest one hundred percent (100%). Employee shall have 12 months from the date written notice is given to Employee about the announcement and closing of a transaction resulting in a Change in Control of the Company that would result in a substantial change in the Employee’s job duties or decrease his compensation or vested benefits under this Agreement to resign or this Section 4(c) shall not apply. In the event Employee resigns from the Company for any other reason, Employee will not be entitled to receive or accrue any further Company benefits or other remuneration under this Agreement, and Employee specifically agrees that he will not be entitled to receive any severance pay. For purposes of this Section 4, a Change in Control shall be deemed to have occurred if any of the following occur:

  • Termination by Employee without Good Reason The Employee shall have the right at any time to terminate the Employee's employment with both Employers without Good Reason by giving the Employers written notice that the Employee is terminating his employment. Any such termination shall apply to the Employee's employment with both Employers and be effective ninety (90) days after the giving of such notice by the Employee.

  • 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 by Employer Without Cause or by Executive for Good Reason If Employer terminates Executive’s employment without Cause, or if Executive terminates his employment for Good Reason, Employer shall pay Executive in a lump sum: (i) all Base Salary earned and all reimbursable expenses incurred under this Agreement through such termination date; and (ii) an amount equal to one (1) times Executive’s highest Base Salary over the prior three (3) years. The amount described in 5.b.(i) herein shall be paid no later than forty-five (45) days after the day on which employment is terminated. The amount described in 5.b.(ii) herein shall be paid on the first day of the month following a period of six (6) months after the termination of employment, provided that the payment may be made sooner if either (i) the amount does not exceed the IRC Safe Harbor or (ii) at the Executive’s election, the amount described in Section 5.a.(ii) is reduced to fit within the IRC Safe Harbor. No payment will be made pursuant to Section 5.a.(ii) unless the Executive has signed a Release Agreement which has become irrevocable prior to the payment date.

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