Common use of Without Cause By Executive; Election Not to Renew by Executive Clause in Contracts

Without Cause By Executive; Election Not to Renew by Executive. In the event that the Employment Term is terminated by Executive pursuant to Section 3.2.2 hereof or Executive elects not to renew this Agreement pursuant to Section 3.1 hereof, Employer shall pay to Executive in a single lump-sum within forty-five (45) days of the Date of Termination an amount equal to any unpaid but earned Base Salary through the Date of Termination in accordance with Employer’s regular payroll practices. The Employer shall also pay any annual bonus earned but unpaid as of the Date of Termination for any previously completed fiscal year in accordance with the terms of the bonus, and such employee benefits as to which Executive may be entitled under the employee benefit plans of the Employer.

Appears in 1 contract

Samples: Employment Agreement (Par Pharmaceutical Companies, Inc.)

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Without Cause By Executive; Election Not to Renew by Executive. In the event that the Employment Term is terminated by Executive pursuant to Section 3.2.2 hereof or Executive elects not to renew this Agreement pursuant to Section 3.1 hereof, Employer shall pay to Executive in a single lump-sum within forty-five thirty (4530) days of the Date of Termination an amount equal to any unpaid but earned Base Salary through the Date of Termination in accordance with Employer’s regular payroll practices. The Employer shall also pay any annual bonus earned but unpaid as of the Date of Termination for any previously completed fiscal year in accordance with the terms of the bonus, and such employee benefits as to which Executive may be entitled under the employee benefit plans of the Employer.

Appears in 1 contract

Samples: Employment Agreement (Par Pharmaceutical Companies, Inc.)

Without Cause By Executive; Election Not to Renew by Executive. In the event that the Employment Term is terminated by Executive pursuant to Section 3.2.2 hereof or Executive elects not to renew this Agreement pursuant to Section 3.1 hereof, Employer shall pay to Executive in a single lump-sum within forty-five (45) days of the Date of Termination an amount equal to any unpaid but earned Base Salary through the Date of Termination in accordance with Employer’s regular payroll practicesTermination. The Employer shall also pay any annual bonus earned but unpaid as of the Date of Termination for any previously completed fiscal year in accordance with the terms of the bonus, and such employee benefits as to which Executive may be entitled under the employee benefit plans of the Employer.

Appears in 1 contract

Samples: Employment Agreement (Par Pharmaceutical Companies, Inc.)

Without Cause By Executive; Election Not to Renew by Executive. In the event that the Employment Term is terminated by Executive pursuant to Section 3.2.2 hereof or Executive elects not to renew this Agreement pursuant to Section 3.1 hereof, Employer shall pay to Executive in a single lump-sum within forty-five (45) days of the Date of Termination an amount equal to any unpaid but earned Base Salary through the Date of Termination Termination, in accordance with the Employer’s regular payroll practices. The Employer shall also pay any annual bonus earned but unpaid as of the Date of Termination for any previously completed fiscal year in accordance with the terms of the bonus, and such employee benefits as to which Executive may be entitled under the employee benefit plans of the Employer.

Appears in 1 contract

Samples: Employment Agreement (Par Pharmaceutical Companies, Inc.)

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Without Cause By Executive; Election Not to Renew by Executive. In the event that the Employment Term is terminated by Executive pursuant to Section 3.2.2 hereof or Executive elects not to renew this Agreement pursuant to Section 3.1 hereof, Employer shall pay to Executive Executive, in a single lump-sum within forty-five (45) days of the Date of Termination Termination, an amount equal to any unpaid but earned Base Salary through the Date of Termination Termination, in accordance with Employer’s regular payroll practices. The Employer shall also pay any annual bonus earned but unpaid as of the Date of Termination for any previously completed fiscal year in accordance with the terms of the bonus, and such employee benefits as to which Executive may be entitled under the employee benefit plans of the Employer.

Appears in 1 contract

Samples: Employment Agreement (Par Pharmaceutical Companies, Inc.)

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