Common use of Termination for Cause, Voluntary Resignation Without Good Reason Clause in Contracts

Termination for Cause, Voluntary Resignation Without Good Reason. If employment is terminated by the Company for Cause or by Employee without Good Reason, then Employee will be paid (i) his base salary to the date of termination and (ii) the unpaid portion of any bonus or incentive amount earned for the fiscal year ending prior to the termination of employment that Employee is entitled to receive under the terms of the annual incentive plan. Employee will not be entitled to receive any base salary or fringe benefits for any period after the date of termination, except for the right to receive benefits that have become vested under any benefit plan or to which Employee is entitled as a matter of law.

Appears in 1 contract

Sources: Employment Agreement (RTW Inc /Mn/)

Termination for Cause, Voluntary Resignation Without Good Reason. If employment is terminated by the Company for Cause or by Employee without Good Reason, then Employee will be paid (i) his base salary to the date of termination and (ii) the unpaid portion of any bonus or incentive amount earned for the fiscal year ending prior to the termination of employment that which Employee is entitled to receive under the terms of the annual incentive planplan as well as any pro-rata bonus or incentive amount through the date of termination. Employee will not be entitled to receive any base salary or fringe benefits for any period after the date of termination, except for the right to receive benefits that which have become vested under any benefit plan or to which Employee is entitled as a matter of law.

Appears in 1 contract

Sources: Employment Agreement (RTW Inc /Mn/)