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. The CEO’s employment hereunder may be terminated by the Company for “Cause”, as such term is hereinafter defined, or by the CEO without “Good Reason”, as such term is hereinafter defined. If the CEO’s employment is terminated by the Company for Cause or by the CEO without Good Reason, the CEO 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 the CEO including, without limitation, health insurance costs as provided in Section IV hereof. For purposes of this Agreement, “

Appears in 2 contracts

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

Expiration of the Term, For Cause, or Without Good Reason. The CEO’s 's employment hereunder may be terminated by the Company for “Cause”, as such term is hereinafter defined, or by the CEO without “Good Reason”, as such term is hereinafter defined. If the CEO’s 's employment is terminated by the Company for Cause or by the CEO without Good Reason, the CEO 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 the CEO including, without limitation, health insurance costs as provided in Section IV hereof. For purposes of this Agreement, "

Appears in 1 contract

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