Common use of Cause or Without Good Reason Clause in Contracts

Cause or Without Good Reason. If the Employee's employment is terminated during the Employment Period by the Employer for Cause or by the Employee without Good Reason, the Employer shall pay to (or in the case of business expenses pursuant to clause (i), reimburse) the Employee or his estate in the event of his death, within thirty (30) days of the Date of Termination, (i) the Accrued Obligations and (ii) any earned but unpaid Annual Bonus in respect of a Bonus Period ending prior to the Date of Termination, but only if the event constituting Cause occurs after the termination of such Bonus Period. The Employer shall have no additional obligations under this Agreement, except for (i) the indemnification obligations set forth in Section 6 herein and (ii) any benefits (other than benefits in the nature of severance pay) to which the Employee is entitled under the terms of any employee benefit plan in which he is eligible to participate.

Appears in 1 contract

Sources: Employment Agreement (New Skies Satellites Nv)

Cause or Without Good Reason. If the Employee's ’s employment is terminated during the Employment Period by the Employer Company for Cause or by the Employee without Good Reason, the Employer Company shall pay to (or in the case of business expenses pursuant to clause (i), reimburse) the Employee or his estate in the event of his death, within thirty (30) days of the Date of Termination, (i) the Accrued Obligations and (ii) any earned but unpaid Annual Bonus in respect of a calendar year during the Bonus Period ending prior to the Date of Termination, but only if the event constituting Cause occurs after the termination end of such Bonus Periodcalendar year. The Employer Company shall have no additional obligations under this Amended Agreement, except for (i) the indemnification obligations set forth in Section 6 herein and (ii) any benefits (other than benefits in the nature of severance pay) to which the Employee is entitled under the terms of any employee benefit plan in which he is eligible to participate.

Appears in 1 contract

Sources: Employment Agreement (New Skies Satellites Holdings Ltd.)

Cause or Without Good Reason. If the Employee's ’s employment is terminated during the Employment Period by the Employer for Cause or by the Employee without Good Reason, the Employer shall pay to (or in the case of business expenses pursuant to clause (i), reimburse) the Employee or his estate in the event of his death, within thirty (30) days of the Date of Termination, (i) the Accrued Obligations and (ii) any earned but unpaid Annual Bonus in respect of a calendar year during the Bonus Period ending prior to the Date of Termination, but only if the event constituting Cause occurs after the termination end of such Bonus Periodcalendar year. The Employer shall have no additional obligations under this Amended Agreement, except for (i) the indemnification obligations set forth in Section 6 herein and (ii) any benefits (other than benefits in the nature of severance pay) to which the Employee is entitled under the terms of any employee benefit plan in which he is eligible to participate.

Appears in 1 contract

Sources: Employment Agreement (New Skies Satellites Holdings Ltd.)