Termination by the Corporation Without Cause. (a) The Corporation may terminate this Agreement at any time, without cause and for any reason, upon notice to the Employee setting forth the date of termination (this date of termination and any other date of termination prior to the Scheduled Termination Date is referred to as the "Early Termination Date"). In this event, the Employee shall be entitled to continue to receive, for a period of one (1) year after the Early Termination Date, the same Base Salary which the Employee was receiving at the time of such Early Termination Date (in the manner and as described in Section 3.1) and all Executive Benefits which the Employee was receiving or entitled to receive as of such Early Termination Date (in the manner and as described in Section 4.1). Further, all outstanding stock options which shall have been granted to the Employee shall immediately become exercisable (if not already exercisable in full) and shall continue in full force and effect.
(b) In the event the Employee suffers from a disability (as defined in Section 5) for a period of 180 business days out of any 360 consecutive business day period, then the Corporation may at any time no later than thirty (30) days following the end of said 360-day period terminate the employment of the Employee without cause, by notice to the Employee setting forth the effective Early Termination Date. However, the Corporation shall not have the right to terminate the employment of the Employee hereunder if, at the time the Corporation gives notice of termination to the Employee, the Employee has then again begun to render services for the Corporation as required hereunder. Following an Early Termination Date because of disability, the Employee shall be entitled to receive his Base Salary then in effect for a period of one (1) year following his Early Termination Date and shall be entitled to retain all of his Executive Benefits for a period of one (1) year following his Early Termination Date. Further, the Employee's stock options, to the extent not fully vested, would continue to vest during the one-year period following his Early Termination Date.
(c) This Agreement shall terminate immediately upon the Employee's death. In addition to any other compensation or benefits payable or accrued to the benefit of the Employee as of the date of his death, the Corporation shall pay to the Employee's executor or legal representative an amount in cash equal to one (1) times the Employee's Base Salary then in effect at the t...
Termination by the Corporation Without Cause. The Corporation may terminate the Employee’s employment hereunder without Cause at any time by providing ninety (90) days’ advance written notice to the Employee.
Termination by the Corporation Without Cause. If the Corporation terminates the Employee's employment without Cause, then the Corporation shall:
(i) pay to the Employee (a) any and all earned but unpaid Base Salary for services rendered by the Employee to the date of termination, (b) any and all Business Expenses incurred by the Employee up to the date of termination and reimbursable in accordance with the terms of this Agreement, (c) the value of vacation accrued but unused by the Employee to the date of termination, and (d) any and all accrued but unpaid amounts due to the Employee under the Management Bonus Plan and the Stock Option Plans (subject to the respective terms and conditions thereof) in respect of any period prior to the fiscal year in which such termination occurred; and
(ii) also pay to the Employee, his Base Salary (less statutory deductions and withholdings) for a period calculated as being the lesser of (A) the unexpired remainder of the Term, and (B) one (1) year; and
(iii) continue, if possible, the Employee's entitlement to the Employment Benefits described in Section 3(c) hereof (but not any other provisions of Section 3 hereof) until the earlier of (i) the end of the minimum period required for notice of termination or payment in lieu of notice under applicable employment standards legislation at the time of the termination of the Employee's employment, or (ii) the date that the Employee becomes covered under the benefit plans of a subsequent employer, provided that the Employee continues to pay his applicable share of the insurance premiums during such period.
Termination by the Corporation Without Cause. The Corporation may elect to terminate Executive's employment at any time without Cause upon written notice to Executive. In the event of such termination without Cause, Executive shall be entitled to a severance payment in an amount equal to 125% of Executive's Base Salary as of the date of termination, such payment to be made in equal installments over a twelve (12) month period on the Corporation's usual pay periods.
Termination by the Corporation Without Cause. (a) The Corporation may terminate your employment as EVP and Chief Finance Officer at any time without Cause (as defined below) by giving you written notice of the effective date of such termination and in all respects, except as set out below, your resignation and the termination of your employment will be effective immediately.
(b) If your employment is terminated by the Corporation pursuant to this Section 15, unless otherwise determined by the Board, the Corporation shall pay to you as a lump sum the number of months of Base Salary, as referred to in Section 3 (Base Salary) and as adjusted from time to time in accordance with Section 4 (Annual Review) set out in the table below depending upon the year of employment in which you are terminated, plus such other sums owed for arrears of salary, vacation pay and, if granted pursuant to Section 5 (Performance Bonus), bonus: Year of Employment Lump Sum Payment of Base Salary (as adjusted) 2 - 5 12 months 5 or more 12 months, plus one additional month for each full year of employment over 5 years, up to a maximum of 18 months aggregate
(c) To the extent permitted by law and subject to the terms and conditions of any benefit plans in effect from time to time, the Corporation shall maintain the benefits and payments set out in Section 6 (Benefits) of this Agreement (the “Maintenance Payments”) during a period of 6 months following termination.
(d) If you obtain a new source of remuneration for personal services, whether through an office, new employment, a contract for you to provide consulting or other personal services, or any position analogous to any of the foregoing, the “Maintenance Payments” shall terminate forthwith on the date of commencement of such office, employment, contract or position.
(e) The payments of Base Salary and benefits set out in this Section 15 shall be in lieu of any applicable notice period.
Termination by the Corporation Without Cause. At the election of the Corporation, at any time during the term of this Agreement without cause.
Termination by the Corporation Without Cause. The Corporation shall be entitled to terminate Executive’s employment at any time without Cause by giving the Executive a one-time payment equal to the Executive’s Annual Compensation, plus an additional one months’ worth of Annual Compensation for each completed year of employment to a maximum of 18 months Annual Compensation. Such lump sum cash payment is payable on or before the fifth day following the Date of Termination. In addition, subject to the receipt of all necessary regulatory approvals, the Corporation shall permit any vested options to purchase common shares in the capital of the Corporation held by Executives to be exercisable for 6 months after the Date of Termination. All options that have not vested shall expire upon the Date of Termination. In the event of termination of Executive’s employment without Cause, rights and benefits of Executive under executive benefit plans and programs of the Corporation, unless prohibited by the relevant plan, will be continued for a twelve-month period.
Termination by the Corporation Without Cause. In the event of a termination without cause, the Employer will provide a severance package which will include a minimum of one year's salary, plus one month's salary for each year of employment in excess of twelve years service, to be calculated on base salary and pro-rated for car allowance and bonus incentive. It is agreed and understood that these amounts are reasonable and include any obligations which the employer may have or pay in lieu of notice and/or severance pay pursuant to the Employment Standards Act, R.S.O. 1990, c. E-14, or its counterpart in any other jurisdiction. It is agreed that this Employment Agreement may not be terminated by the Corporation without cause without the approval of the board of directors of the Corporation.
Termination by the Corporation Without Cause. The Corporation may terminate Employee’s employment without Cause upon fourteen (14) days written notice. In the event that Employee is terminated without Cause, Employee shall be entitled to (i) payment of Employee’s then-current accrued, unpaid Base Compensation and accrued, unused vacation, each prorated through the date of termination, and (ii) an amount in respect of individual severance pay equal to the then current full year Base Compensation plus Bonus Compensation. During the fourteen (14) day period following the delivery of such notice, Employee shall reasonably cooperate with the Corporation in arranging for an orderly transference of his responsibilities.
Termination by the Corporation Without Cause. The Board of Directors, without cause, may terminate this Agreement at any time upon 30 days written notice to the Employee, unless Section 3.7 applies in which case this Section 3.2 shall be inapplicable. In such event, the Employee, if requested by the Board of Directors, shall continue to render the services required under this Agreement for 30 days. Upon termination under this Section 3.2, except as provided in Section 3.7, the Employee shall continue to be paid compensation as set forth in Exhibit C of this Agreement up to a date which is 12 months after the Employee receives written notice of termination, plus all outstanding stock options will be extended for a period of two years from the date of termination.
