Common use of Without Good Cause Clause in Contracts

Without Good Cause. At any time after the commencement of employment, Employee may, without cause, terminate this Agreement and Employee's employment, effective thirty (30) days after written notice is provided to the Company. Employee may only be terminated without Good Cause by the Company during the Term hereof if such termination is approved by a 100% of the members of the Board of Directors (“All Board of Director Members”) of the Company and provided that the Employee receives at least one (1) month written notice. Should Employee terminate with Good Reason or in the event that Employee is terminated without Good Cause during the Term, Employee shall receive from the Company, on such dates as would otherwise be paid by the Company, the lesser of the base salary at the rate then in effect for a period of one year (1) and all restricted 144a common stock shares (“Certificates, Legend and Medallions”) as set forth within the terms and conditions of the agreement herein after such termination. Further, if Employee is terminated without Good Cause or terminates his employment hereunder with Good Reason, (a) the Employee shall be entitled to receive a prorated portion of any discretionary incentive compensation to which the Employee would have been entitled to for the term during which the termination occurred had the Employee not been terminated, (b) the Employee shall be entitled to receive all other unpaid benefits due and owing through Employee's last day of employment. If Employee resigns or otherwise terminates his employment without Good Reason, rather than the Company terminating his employment pursuant to this paragraph 12, Employee shall receive no severance compensation.

Appears in 4 contracts

Samples: Addendum Employment Agreement (National Automation Services Inc), Addendum Employment Agreement (National Automation Services Inc), Addendum Employment Agreement (National Automation Services Inc)

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Without Good Cause. At any time after the commencement of employment, Employee may, without cause, terminate this Agreement and Employee's employment, effective thirty (30) days after written notice is provided to the Company. Employee may only be terminated without Good Cause by the Company during the Term hereof if such termination is approved by a 100% of the members of the NAS Management Advisory Board (Consisting of Directors (“All Board of Director Members”all subsidiaries and representatives) of the Company and provided that the Employee receives at least one (1) month written notice. Should Employee terminate with Good Reason or in the event that Employee is terminated without Good Cause during the Term, Employee shall receive from the Company, on such dates as would otherwise be paid by the Company, the lesser of the base salary at the rate then in effect for a period of one year (1) and all restricted 144a common stock shares (“Certificates, Legend and Medallions”) as set forth within the terms and conditions of the agreement herein after such termination. Further, if Employee is terminated without Good Cause or terminates his employment hereunder with Good Reason, (a) the Employee shall be entitled to receive a prorated portion of any discretionary incentive compensation to which the Employee would have been entitled to for the term during which the termination occurred had the Employee not been terminated, (b) the Employee shall be entitled to receive all other unpaid benefits due and owing through Employee's last day of employment. If Employee resigns or otherwise terminates his employment without Good Reason, rather than the Company terminating his employment pursuant to this paragraph 12, Employee shall receive no severance compensation.

Appears in 1 contract

Samples: Employment Agreement (National Automation Services Inc)

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Without Good Cause. At any time after the commencement of employment, Employee may, without cause, terminate this Agreement and Employee's employment, effective thirty (30) days after written notice is provided to the Company. Employee may only be terminated without Good Cause by the Company during the Term hereof if such termination is approved by a 10075% of the members of the Board of Directors (“All Board of Director Members”) of the Company and provided that the Employee receives at least one (1) month written notice. Should Employee terminate with Good Reason or in the event that Employee is terminated without Good Cause during the Term, Employee shall receive from the Company, on such dates as would otherwise be paid by the Company, the lesser of the base salary at the rate then in effect for a period of one year (1) and all restricted 144a common stock shares (“Certificates, Legend and Medallions”) as set forth within the terms and conditions of the agreement herein after such termination. Further, if Employee is terminated without Good Cause or terminates his employment hereunder with Good Reason, (a) the Employee shall be entitled to receive a prorated portion of any discretionary incentive compensation to which the Employee would have been entitled to for the term during which the termination occurred had the Employee not been terminated, (b) the Employee shall be entitled to receive all other unpaid benefits due and owing through Employee's last day of employment. If Employee resigns or otherwise terminates his employment without Good Reason, rather than the Company terminating his employment pursuant to this paragraph 12, Employee shall receive no severance compensation.

Appears in 1 contract

Samples: Employment Agreement (National Automation Services Inc)

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