Termination by the Partnership Without Cause Sample Clauses
The 'Termination by the Partnership Without Cause' clause allows the partnership to end an agreement or relationship with a party even if there is no specific breach or wrongdoing by that party. Typically, this clause outlines the process the partnership must follow, such as providing advance written notice and possibly paying a severance or other compensation. Its core function is to give the partnership flexibility to discontinue the arrangement for business reasons or changing circumstances, thereby managing risk and operational needs without being limited to only terminating for cause.
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Termination by the Partnership Without Cause. The Partnership may terminate this Agreement at any time in the event the Board determines, in its sole discretion, that the continued employment of Executive is not in the continued interests of the Partnership. In the event the Partnership terminates Executive's employment pursuant to this Section 5.1, then, subject to Section 6, Executive shall be entitled to his Base Salary and other benefits and bonuses through the date of his termination of employment (the "Termination Date"), and shall also receive severance pay in an amount equal to Executive's current Base Salary for one year. Such severance amount shall be payable in a lump sum within 10 days following the Termination Date. In addition, (i) for the 12-month period following such Termination Date, the Company shall continue, at its sole cost, medical benefits to Executive and Executive's family at least equal to those which would have been provided to them if Executive's employment had not terminated and (ii) notwithstanding, and in addition to, anything in the Crown Pacific Management Limited Partnership 1997 Distribution Equivalent Rights Plan, the Crown Pacific Management Limited Partnership 1994 Unit Option Plan, any successor plan or other Company equity-based award plan (collectively, the "Equity Plans"), or any award agreement thereunder to the contrary, on the Termination Date Executive shall be automatically fully (100%) vested in all options, Distribution Equivalent Rights, including all Distribution Amounts then credited to him with respect to Distribution Equivalent Rights, and other equity awards granted to him thereunder, and shall become immediately payable or exercisable, as the case may be. The above vesting shall be in addition to, and not in limitation of, all other rights Executive may have under the Equity Plans and award agreements thereunder. 2
Termination by the Partnership Without Cause. In the event of a termination of your employment by the Partnership without Cause (as defined below), you shall be entitled to receive (i) the base salary that would otherwise have been payable to you pursuant to Section 3(a) had you remained employed through the Expiration Date, to the extent not previously paid, (ii) the Guaranteed Bonuses that would otherwise have been payable to you pursuant to Section 3(b) had you remained employed through the payment date of the Partnership’s calendar year 2004 annual bonuses, to the extent not previously paid, (iii) vesting of all awards made to you or on your behalf under the Partnership’s equity plans prior to the termination of your employment, including your awards under the Partners Compensation Plan, that would have vested had your last date of employment been December 31, 2004, (iv) comparable health and welfare benefits for yourself, your spouse and your dependents through the Expiration Date, (v) a lump sum cash payment equal to the sum of (A) the product of $20,000 times the number of plan years for which you will not receive a Partnership contribution to your account under the tax-qualified Profit Sharing Plan for Employees of Alliance Capital Management L.P. as a result of the your termination, through and including plan year 2004, but reduced by the amount of any contributions made to your plan account with respect to the plan year in which your termination occurs, if any and (B) the actuarial equivalent of the additional benefit you would have accrued under the tax-qualified Retirement Plan for Employees of Alliance Capital Management L.P., in each case, had you remained employed through the Expiration Date, (vi) any other benefits to which you may be entitled in accordance with the terms of the plans, policies and arrangements referred to in Section 4 hereof upon or by reason of such termination and (vii) continuation of the perquisites and reimbursements provided under Section 5 hereof until the Expiration Date. The amounts payable under clauses (i), (ii), and (v) above and your awards under the Partners Compensation Plan shall be distributed to you within 30 days after your termination of employment.
Termination by the Partnership Without Cause. The Partnership may terminate this Agreement and the Employee’s employment with the Partnership at any time Without Cause (as defined below) by giving written notice of termination to the Employee. As used in this Agreement, (“Without Cause”) means a termination of this Agreement and the Employee’s employment by the Partnership for any reason or no reason (other than Cause or due to the Employee’s Death or Disability). A termination “Without Cause” shall be effective immediately (or on such later date set forth in the written notice of termination to the Employee).
Termination by the Partnership Without Cause. The General Partner shall have the right to terminate this Agreement with respect to any Partnership at any time without cause by providing PacWest with a 90-day written notice of termination for the terminating Partnership. During the 90-day period, PacWest shall continue to provide its services under this Agreement and shall assist the General Partner and any new manager with whatever is reasonably necessary to insure a smooth management transition. During the 90-day period, PacWest shall continue to be paid all of its fees set forth in this Agreement and shall also be entitled to the liquidated damages set forth in Section 11.7 hereof. Upon receipt of the 90-day written notice, PacWest shall no longer be required to provide for or make any further Loans under Section 10.2.1 hereof to the terminating Partnership, and the principal of any Loans previously made by PacWest (but not third party Loans secured by PacWest) shall be due and payable by the terminating Partnership three years from the date of the 90-day written notice, with monthly payments of interest thereon, commencing 30-days after the 90-day written notice.
Termination by the Partnership Without Cause. In the event of a termination of your employment by the Partnership without Cause (as defined below), you shall be entitled to receive (i) the base salary that would otherwise have been payable to you pursuant to Section 2(a) had you remained employed through the later of December 31, 2007 or the end of the year in which your employment terminates, to the extent not previously paid, (ii) a pro-rata deferred compensation award for the calendar year in which such termination occurs (calculated in accordance with Section 2(b) hereof based on the Partnership’s consolidated income before incentive compensation through the last day of your employment), (iii) all unvested deferred compensation awards (including any pro-rata award made to you in accordance with clause (ii) hereof) made to you under Section 2(b) hereof prior to the termination of your employment, (iv) comparable health and welfare benefits for yourself, your spouse and your dependents through the later of December 31, 2007 or the end of the year in which your employment terminates, (v) if the termination occurs prior to December 31, 2007, a lump sum cash payment equal to the product of $20,000 times the number of plan years through and including 2007 for which you will not receive a Partnership contribution to your account under the tax-qualified Profit Sharing Plan for Employees of Alliance Capital Management L.P. as a result of your termination, and (vi) if the termination occurs prior to December 31, 2007, continuation of the perquisites, reimbursements and support provided under Section 4 hereof until December 31, 2007. The amounts payable under clauses (i) and (v) above shall be distributed to you within 90 days after the termination of your employment, and the amount under clause (iii) above shall be distributed to you on the first business day following six (6) months after the termination of your employment.
Termination by the Partnership Without Cause. The Partnership may terminate Employee’s employment at any time, with or without Cause by providing written notice to Employee. As used in this Agreement, the term “without Cause” shall mean termination for any reason not specified in Section 8 or Section 10 hereof.
Termination by the Partnership Without Cause. The Partnership may terminate this Agreement at any time in the event the Board determines, in its sole discretion, that the continued employment of Executive is not in the continued interests of the Partnership. In the event the 2
Termination by the Partnership Without Cause. If the Executive’s employment as a Consultant is terminated by the Employer without Cause pursuant to Section 7(F)(ii) above, then the Partnership shall, through the date of termination, pay the Executive his Accrued Benefit and shall pay the Executive the 401(k) Payment in accordance with Section 6 above to the extent such payment is due. In addition, provided that the Executive executes this Transition Agreement and does not revoke his agreement in Section 13(A) below to release all Claims of discrimination or retaliation under the Age Discrimination in Employment Act (the “ADEA Release Agreement”) in accordance with the terms of Section 14 below, the Partnership shall pay the Executive (a) the base salary specified in Section 3(a) of the Employment Agreement through October 31, 2012 as though he had remained employed as a Consultant through that date, (b) the Transitional Bonus, on the same schedule as set forth in Section 7(D) and (c) provided that the Executive elects to continue his health coverage to the extent authorized by and consistent with 29 U.S.C. § 1161 et seq. (commonly known as “COBRA”), the Partnership shall pay the premiums for the same level of coverage as in effect on the date the Executive’s employment as a Consultant is terminated until October 31, 2012 to the same extent as if he had remained employed through such date (together, the “Transition Severance”).
Termination by the Partnership Without Cause. The Partnership may terminate the Executive’s employment as a Consultant at any time without Cause (as defined in Section 7(F)(i) above).
Termination by the Partnership Without Cause. The Partnership may terminate this Agreement at any time in the event the Board determines, in its sole discretion, that the continued employment of Executive is not in the continued interests of the Partnership. In the event the Partnership terminates Executive's employment pursuant to this Section 5.1, then, subject to Section 6, Executive shall be entitled to his Base Salary and other benefits and bonuses through the date of his termination of employment (the "Termination Date"), and shall also receive severance pay in an amount equal to Executive's current Base Salary for one year. Such severance amount shall be payable in a lump sum within 10 days following the Termination Date. In addition, (i) for the 12-month period following such Termination Date, the Company shall continue, at its sole cost, medical benefits to Executive and Executive's family at least equal to those which would have been provided to them if Executive's employment had not terminated and (ii) notwithstanding, and in addition to, anything in the Crown Pacific Management Limited Partnership 1997 Distribution Equivalent Rights Plan, the Crown Pacific Management Limited Partnership 1994 Unit Option Plan, any successor plan or other Company equity-based award plan (collectively, the "Equity Plans"), or any award agreement 2