Common use of Without Cause Termination Clause in Contracts

Without Cause Termination. If Executive’s employment is terminated by the Company without Cause (which, for the avoidance of doubt, includes the Company providing written notice of non-renewal of the Initial Term or any Extended Term pursuant to Section 2(b)(B)), then Executive shall be entitled to (A) the Accrued Benefits payable as provided in Section 5(a) hereof and (B) subject to the Conditions, a lump sum amount payable within sixty (60) days following the Termination Date equal to three hundred and sixty-five (365) days at the Base Salary rate.

Appears in 3 contracts

Samples: Employment Agreement (Parabel Inc.), Employment Agreement (Parabel Inc.), Employment Agreement (Parabel Inc.)

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Without Cause Termination. If Executive’s employment is terminated by the Company without Cause (which, other than for the avoidance of doubt, includes the Company providing written notice of non-renewal of the Initial Term or any Extended Term pursuant to Section 2(b)(B))Cause, then Executive shall be entitled to (A) the Accrued Benefits payable as provided in Section 5(a) hereof and (B) subject to the Conditions, a lump sum amount payable within sixty (60) days following the Termination Date equal to three hundred and sixty-five the number of days (365) days at the Base Salary rate) between the Termination Date and the next anniversary of the Effective Date.

Appears in 2 contracts

Samples: Employment Agreement (PetroAlgae Inc.), Employment Agreement (PetroAlgae Inc.)

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Without Cause Termination. If Executive’s employment is terminated by the Company without Cause (which, other than for the avoidance of doubt, includes the Company providing written notice of non-renewal of the Initial Term or any Extended Term pursuant to Section 2(b)(B))Cause, then Executive shall be entitled to (A) the Accrued Benefits payable as provided in Section 5(a) hereof and (B) subject to the Conditions, a lump sum amount payable within sixty (60) days following the Termination Date equal to three hundred and sixty-five the number of days (365) days at the Base Salary rate) between the Termination Date and the anniversary of the Effective Date.

Appears in 1 contract

Samples: Employment Agreement (Parabel Inc.)

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