Company Termination Date definition
Examples of Company Termination Date in a sentence
In the event Executive terminates this Agreement for Good Reason during any Renewal Term, the Executive will be paid the following compensation within sixty (60) days of the Executive Termination Date: (a) a lump sum cash payment in an amount equal to one month of Executive’s Annual Base Salary; plus (b) a lump sum cash payment for any accrued but unused vacation through the Company Termination Date in accordance with the Company’s employment policies.
In the event Executive is terminated without Cause by the Company (other than for death or Disability) during any Renewal Term, Executive will be paid the following compensation within sixty (60) days of the Company Termination Date: (a) a lump sum cash payment in an amount equal to one month of Executive’s Annual Base Salary; plus (b) a lump sum cash payment for any accrued but unused vacation through the Company Termination Date in accordance with the Company’s employment policies.
In the event Executive is terminated without Cause by the Company (other than for death or Disability) during the Initial Term, Executive will be paid the following compensation within sixty (60) days of the Company Termination Date: a lump sum cash payment in an amount equal to (a) twenty-four months of the Executive’s Annual Base Salary; plus (b) the monetary equivalent of the benefits that would have been provided to Executive for a period of twenty-four (24) months.
Termination of the Employee’s employment and the Agreement in accordance with this Section 6 shall relieve the Company from any and all obligation, liability or claim by the Employee exclusive of monies owing to the Employee up to the Company Termination Date and this subsection 6(c) shall survive termination of this Agreement.
Such termination by the Company will be effective upon Effective Company Termination Date.
The Escrow Agreement and the Merger Agreement contemplate the release of 2/3 of the Escrow Shares and/or Escrow Cash to the Escrow Contributors upon the closing of a Qualified IPO and the release of any Escrow Shares and/or Escrow Cash remaining in the Escrow Fund on the Company Termination Date, subject in each case to specified exceptions.
If the Company elects not to renew this Agreement, or to terminate this Agreement without Company Cause, the Company shall (i) deliver to Manager a written notice (the “Company Termination Notice”) specifying the date, which may not be less than six (6) months from the date of the Company Termination Notice, on which this Agreement shall terminate (the “Effective Company Termination Date”), and (ii) pay to Manager the Termination Fee no later than the Effective Company Termination Date.
In addition, at any time on or prior to the Commitment Termination Date (i) upon the occurrence of a Termination Event that results in the Termination Date, or (ii) the Company elects to give notice to the Debtor of a Company Termination Date, the Debtor hereby requests and directs that the Company assign its interest in the Net Investment in whole to the Bank Investors pursuant to this Section 7.9 and the Debtor hereby agrees to pay the amounts described in Section 7.9(d) below.
The Company Termination Notice shall set forth the date (the “Company Termination Date”), which date shall not be less than sixty (60) days from the date that the Company delivers the Company Termination Notice to the Manager, on which the Manager shall cease to provide services under this Agreement and this Agreement shall terminate, and be of no further force or effect, except as otherwise expressly set forth in Sections 5, 6, 7, 8, 10, 13, 14, 16 and 17, on the Company Termination Date.
In addition, all Shares issued upon exercise of this Option on or prior to the Company Termination Date, the Executive Termination Date, or the date of such Notice of Breach, as the case may be, shall be subject to the Company's right to repurchase any such Shares for a price equal to the price the Optionee paid for such Shares (the "Repurchase Right").