Common use of No Severance Clause in Contracts

No Severance. In the event Executive’s employment is terminated at any time for Cause, Executive will be entitled to payment of all accrued salary and accrued and unused vacation, but Executive will not be entitled to the Severance Benefits, pay in lieu of notice, or any other such compensation.

Appears in 3 contracts

Sources: Executive Employment Agreement (Vaxgen Inc), Executive Employment Agreement (Vaxgen Inc), Executive Employment Agreement (Vaxgen Inc)

No Severance. In the event Executive’s employment is terminated at any time for Cause, Executive will be entitled to payment of all accrued salary and accrued and unused vacation, but Executive will not be entitled to the Severance Benefits, pay in lieu of notice, or any other such compensationcompensation unless required by law.

Appears in 3 contracts

Sources: Executive Employment Agreement (Vaxgen Inc), Executive Employment Agreement (Vaxgen Inc), Executive Employment Agreement (Vaxgen Inc)

No Severance. In the event Executive’s 's employment is terminated at any time for Cause, Executive will be entitled to payment of all accrued salary and accrued and unused vacation, but Executive will not be entitled to the Severance Benefits, pay in lieu of notice, or any other such compensation.

Appears in 1 contract

Sources: Executive Employment Agreement (Vaxgen Inc)