Term and Termination of this Agreement. The term of employment of Executive (the "Term") pursuant to this Agreement shall commence on the date hereof and shall continue for a term of three (3) years from the date hereof or until sooner terminated as provided herein. (a) Executive's employment hereunder may be terminated only (i) upon the death or Disability of Executive; and (ii) by the Company for Cause. (b) Upon termination of Executive's employment hereunder pursuant to this Section 4, the Company shall have no further obligation to Executive or his personal representative with respect to remuneration due under this Agreement, except for Base Salary earned but unpaid at date of termination and, except where Executive's employment hereunder is terminated pursuant to clauses (i) or (iii) of the definition of "Cause," a pro rata portion (based on the number of days of the fiscal year of the Company during which this Agreement was in effect) of the bonus payable under Section 3(b) with respect to the fiscal year of the Company in which Executive's employment hereunder was terminated; provided however, Executive's covenants in Sections 5 and 6 of this Agreement shall survive the termination of Executive's employment hereunder.
Appears in 1 contract
Sources: Employment Agreement (Summit Holding Southeast Inc)
Term and Termination of this Agreement. The term of employment of Executive (the "Term") pursuant to this Agreement shall commence on the date hereof and shall continue for a term of three five (35) years from the date hereof or until sooner terminated as provided herein.
(a) Executive's employment hereunder may be terminated only (i) upon the death or Disability of Executive; and (ii) by the Company for Cause.
(b) Upon termination of Executive's employment hereunder pursuant to this Section 4, the Company shall have no further obligation to Executive or his personal representative with respect to remuneration due under this Agreement, except for Base Salary earned but unpaid at date of termination and, except where Executive's employment hereunder is terminated pursuant to clauses (i) or (iii) of the definition of "Cause," a pro rata portion (based on the number of days of the fiscal year of the Company during which this Agreement was in effect) of the bonus payable under Section 3(b) with respect to the fiscal year of the Company in which Executive's employment hereunder was terminated; provided however, Executive's covenants in Sections 5 and 6 of this Agreement shall survive the termination of Executive's employment hereunder.
Appears in 1 contract
Sources: Employment Agreement (Summit Holding Southeast Inc)
Term and Termination of this Agreement. The term of employment of Executive (the "Term") pursuant to this Agreement shall commence on the date hereof and shall continue for a term of three five (35) years from the date hereof or until sooner terminated as provided herein.. -3- 4
(a) Executive's employment hereunder may be terminated only (i) upon the death or Disability of Executive; and (ii) by the Company for Cause.
(b) Upon termination of Executive's employment hereunder pursuant to this Section 4, the Company shall have no further obligation to Executive or his personal representative with respect to remuneration due under this Agreement, except for Base Salary earned but unpaid at date of termination and, except where Executive's employment hereunder is terminated pursuant to clauses (i) or (iii) of the definition of "Cause," a pro rata portion (based on the number of days of the fiscal year of the Company during which this Agreement was in effect) of the bonus payable under Section 3(b) with respect to the fiscal year of the Company in which Executive's employment hereunder was terminated; provided however, Executive's covenants in Sections 5 and 6 of this Agreement shall survive the termination of Executive's employment hereunder.. 5. Ownership,
Appears in 1 contract
Sources: Employment Agreement (Summit Holding Southeast Inc)
Term and Termination of this Agreement. The term of employment of Executive (the "Term") pursuant to this Agreement shall commence on the date hereof and shall continue for a term of three (3) years from the date hereof or until sooner terminated as provided herein.
(a) Executive's employment hereunder may be terminated only (i) upon the death or Disability of Executive; and (ii) by the Company for Cause.. -3- 4
(b) Upon termination of Executive's employment hereunder pursuant to this Section 4, the Company shall have no further obligation to Executive or his personal representative with respect to remuneration due under this Agreement, except for Base Salary earned but unpaid at date of termination and, except where Executive's employment hereunder is terminated pursuant to clauses (i) or (iii) of the definition of "Cause," a pro rata portion (based on the number of days of the fiscal year of the Company during which this Agreement was in effect) of the bonus payable under Section 3(b) with respect to the fiscal year of the Company in which Executive's employment hereunder was terminated; provided however, Executive's covenants in Sections 5 and 6 of this Agreement shall survive the termination of Executive's employment hereunder.. 5. Ownership,
Appears in 1 contract
Sources: Employment Agreement (Summit Holding Southeast Inc)