Common use of Expiration of the Term, For Cause, or Without Good Reason Clause in Contracts

Expiration of the Term, For Cause, or Without Good Reason. Your appointment hereunder may be terminated by the Company for “Cause”, as such term is hereinafter defined, or by you with “Good Reason”, as such term is hereinafter defined. If your appointment is terminated by the Company for Cause or by you with Good Reason, you shall be entitled to receive: (i) any accrued but unpaid Base Compensation which shall be paid on the “Termination Date”, as hereinafter defined, within one (1) week following the Termination Date; (ii) any earned but unpaid Annual Bonus with respect to any completed calendar/fiscal year immediately preceding the Termination Date, which shall be paid on the otherwise applicable payment provided; and (iii) reimbursement for unreimbursed business expenses properly incurred by you including, without limitation, health insurance costs as provided in Section IV hereof. For purposes of this Agreement, “

Appears in 2 contracts

Sources: Employment Agreement (Legend Oil & Gas, Ltd.), Executive Employment Agreement (Legend Oil & Gas, Ltd.)

Expiration of the Term, For Cause, or Without Good Reason. Your appointment employment hereunder may be terminated by the Company for “Cause”, as such term is hereinafter defined, or by you with “Good Reason”, as such term is hereinafter defined. If your appointment employment is terminated by the Company for Cause or by you with without Good Reason, you shall be entitled to receive: (i) any accrued but unpaid Base Compensation which shall be paid on the “Termination Date”, as hereinafter defined, within one (1) week following the Termination Date; (ii) any earned but unpaid Annual Quarterly Bonus with respect to any completed calendar/fiscal year quarter immediately preceding the Termination Date, which shall be paid on the otherwise applicable payment provided; and (iii) reimbursement for unreimbursed business expenses properly incurred by you including, without limitation, health insurance costs as provided in Section IV hereof. For purposes of this Agreement, “.

Appears in 1 contract

Sources: Employment Agreement (Legend Oil & Gas, Ltd.)