Common use of Without Just Cause Clause in Contracts

Without Just Cause. Subject to the provisions of Section 11 ------------------ hereof, the Board may, by written notice to the Employee, immediately terminate his employment at any time for any reason; provided that, if such termination is for any reason other than pursuant to Sections 9(a), (b) or (c) above, the Employee shall be entitled to receive the following compensation and benefits: (i) the salary provided pursuant to Section 2 hereof, up to the date of expiration of the term (including any renewal term then in effect) of this Agreement (the "Termination Date") and (ii) the cost to the Employee of obtaining all health, life, disability and other benefits (excluding any bonus, stock option or other compensation benefits) in which the Employee would have been eligible to participate through the Termination Date based upon the benefit levels substantially equal to those that the Company provided for the Employee at the date of termination of employment. Said sum shall be paid, at the option of the Employee, either (I) in periodic payments over the remaining term of this Agreement, as if the Employee's employment had not terminated, or (II) in one lump sum within ten (10) days of such termination.

Appears in 2 contracts

Samples: Employment Agreement (Hopfed Bancorp Inc), Employment Agreement (Hopfed Bancorp Inc)

AutoNDA by SimpleDocs

Without Just Cause. Subject to the provisions of Section 11 ------------------ hereof, the Board may, by written notice to the Employee, immediately terminate his employment at any time for any reason; provided that, if such termination is for any reason other than pursuant to Sections 9(a), (b) or (c) above, the Employee shall be entitled to receive the following compensation and benefits: (i) the salary provided pursuant to Section 2 hereof, up to the date of expiration of the term (including any renewal term then in effect) of this Agreement (the "Termination Date") and (ii) the cost to the Employee of obtaining all health, life, disability and other benefits (excluding any bonus, stock option or other compensation benefits) in which the Employee would have been eligible to participate through the Termination Date based upon the benefit levels substantially equal to those that the Company Bank provided for the Employee at the date of termination of employment. Said sum shall be paid, at the option of the Employee, either (I) in periodic payments over the remaining term of this Agreement, as if the Employee's employment had not terminated, or (II) in one lump sum within ten (10) days of such termination.. (e)

Appears in 2 contracts

Samples: Employment Agreement (Hopfed Bancorp Inc), Agreement (Hopfed Bancorp Inc)

Without Just Cause. Subject to the provisions of Section 11 ------------------ hereof, the Board may, ------------------ by written notice to the Employee, immediately terminate his employment at any time for any reason; provided that, if such termination is for any a reason other than pursuant to Sections 9(a)Just Cause, (b) or (c) above, in which event the Employee shall be entitled to receive the following compensation and benefits: (i) the salary provided pursuant to Section 2 hereofhereof , up to the date of expiration termination of the term (including any renewal term then in effectterm) of this Agreement (the "Termination Expiration Date") ), plus said salary for an additional 12-month period, but in no event in excess of three years' salary and (ii) the cost to the Employee of obtaining all health, life, disability and other benefits (excluding any bonus, stock option or other compensation benefits) in which the Employee would have been eligible to participate in through the Termination Expiration Date based upon the benefit levels substantially equal to those that the Company Bank provided for the Employee at the date of termination of employment. Said sum shall be paid, at the option of the Employee, either (I) in periodic payments over the remaining term of this Agreement, as if the Employee's employment had not been terminated, or (II) in one lump sum within ten (10) days of such termination.

Appears in 2 contracts

Samples: Employment Agreement (Sandwich Bancorp Inc), Employment Agreement (1855 Bancorp)

Without Just Cause. Subject to the provisions of Section 11 ------------------ hereof, the Board may, by written notice to the Employee, immediately terminate his employment at any time for any reason; provided that, if such termination is for any reason other than pursuant to Sections 9(a), (b) or (c) above, the Employee shall be entitled to receive the following compensation and benefits: (i) the salary provided pursuant to Section 2 hereof, up to the date of expiration of the term (including any renewal term then in effect) of this Agreement (the "Termination Date") and (ii) the cost to the Employee of obtaining all health, life, disability and other benefits (excluding any bonus, stock option or other compensation benefits) in which the Employee would have been eligible to participate through the Termination Date based upon the benefit levels substantially equal to those that the Company provided for the Employee at the date of termination of employment. Said sum shall be paid, at the option of the Employee, either (I1) in periodic payments over the remaining term of this Agreement, as if the Employee's employment had not terminated, or (II2) in one lump sum within ten (10) 10 days of such termination.

Appears in 1 contract

Samples: Employment Agreement (Hopfed Bancorp Inc)

Without Just Cause. Subject to the provisions of Section 11 ------------------ hereof, the Board may, by written notice to the Employee, immediately terminate his employment at any time for any reason; provided that, if such termination is for any reason other than pursuant to Sections 9(a), (b) or (c) above, the Employee shall be entitled to receive the following compensation and benefits: (i) the salary provided pursuant to Section 2 hereof, up to the date of expiration of the term (including any renewal term then in effect) of this Agreement (the "Termination Date") and (ii) the cost to the Employee of obtaining all health, life, disability and other benefits (excluding any bonus, stock option or other compensation benefits) in which Exhibit 10.2 the Employee would have been eligible to participate through the Termination Date based upon the benefit levels substantially equal to those that the Company Bank provided for the Employee at the date of termination of employment. Said sum shall be paid, at the option of the Employee, either (I1) in periodic payments over the remaining term of this Agreement, as if the Employee's employment had not terminated, or (II2) in one lump sum within ten (10) 10 days of such termination.

Appears in 1 contract

Samples: Employment Agreement (Hopfed Bancorp Inc)

AutoNDA by SimpleDocs

Without Just Cause. Subject to the provisions of Section 11 ------------------ hereof, the Board may, by written notice to the Employee, immediately terminate his employment at any time for any reason; provided that, if such termination is for any reason other than pursuant to Sections 9(a), (b) or (c) above, the Employee shall be entitled to receive the following compensation and benefits: (i) the salary provided pursuant to Section 2 hereof, up to the date of expiration of the term (including any renewal term then in effect) of this Agreement (the "Termination Date") and (ii) the cost to the Employee of obtaining all health, life, disability and other benefits (excluding any bonus, stock option or other compensation benefits) in which the Employee would have been eligible to participate through the Termination Date based upon the benefit levels substantially equal to those that the Company provided for the Employee at the date of termination of employment. Said sum shall be paid, at the option of the Employee, either (I1) in periodic payments over the remaining term of this Agreement, as if the Employee's employment had not terminated, or (II2) in one lump sum within ten (10) 10 days of such termination.. Exhibit 10.1

Appears in 1 contract

Samples: Employment Agreement (Hopfed Bancorp Inc)

Without Just Cause. Subject to the provisions of Section 11 ------------------ hereof, the Board may, by written notice to the Employee, immediately terminate his employment at any time for any reason; provided that, if such termination is for any reason other than pursuant to Sections 9(a), (b) or (c) above, the Employee shall be entitled to receive the following compensation and benefits: (i) the salary provided pursuant to Section 2 hereof, up to the date of expiration of the term (including any renewal term then in effect) of this Agreement (the "Termination Date") and (ii) the cost to the Employee of obtaining all health, life, disability and other benefits (excluding any bonus, stock option or other compensation benefits) in which the Employee would have been eligible to participate through the Termination Date based upon the benefit levels substantially equal to those that the Company Bank provided for the Employee at the date of termination of employment. Said sum shall be paid, at the option of the Employee, either (I1) in periodic payments over the remaining term of this Agreement, as if the Employee's employment had not terminated, or (II2) in one lump sum within ten (10) 10 days of such termination.

Appears in 1 contract

Samples: Employment Agreement (Hopfed Bancorp Inc)

Without Just Cause. Subject to the provisions of Section 11 ------------------ hereof, the Board may, by written notice to the Employee, immediately terminate his employment at any time for any reason; provided that, if such termination is for any reason other than pursuant to Sections 9(a), (b) or (c) above, the Employee shall be entitled to receive the following compensation and benefits: (i) the salary provided pursuant to Section 2 hereof, up to the date of expiration of the term (including any renewal term then in effect) of this Agreement (the "Termination Date") and (ii) the cost to the Employee of obtaining all health, life, disability and other benefits (excluding any bonus, stock option or other compensation benefits) in which the Employee would have been eligible to participate through the Termination Date based upon the benefit levels substantially equal to those that the Company Bank provided for the Employee at the date of termination of employment. Said sum shall be paid, at the option of the Employee, either (I) in periodic payments over the remaining term of this Agreement, as if the Employee's employment had not terminated, or (II) in one lump sum within ten (10) days of such termination.

Appears in 1 contract

Samples: Agreement (Hopfed Bancorp Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!