Termination With Compensation Clause Samples

Termination With Compensation. In the event that: (1) FII terminates the employment of the Executive for any reason; or (2) the Executive terminates employment with FII for any reason, and, in each case, such termination does not entitle the Executive to compensation or benefits under this Agreement and the Executive is entitled to compensation or benefits under another arrangement with FII (excluding for this purpose, any payments or distributions from or related to any tax-qualified retirement plan maintained for the benefit of the Executive), then the provisions of Section 2.2 and Section 2.3 shall apply to the Executive during the term of this Agreement and following the Executive’s termination of employment for the period of time equal to the greater of: (i) the period of time during which the Executive is receiving any compensation or benefits from FII (excluding for this purpose, any payments or distributions from or related to any tax-qualified retirement plan maintained for the benefit of the Executive); or (ii) the six-month period following the Executive’s termination of employment.

Termination With Compensation. If Executive’s employment is terminated for any of the following reasons, Executive shall be entitled by virtue of this Agreement to the benefits provided in the foregoing Section 5 as follows: (i) If, during the Period of Employment, the Company discharges Executive other than for Cause, Executive shall receive all of the benefits and payments provided in Section 5. (ii) Executive may terminate his employment with the Company at any time during the Period of Employment for Good Reason (“Good Reason Termination”) and shall receive all of the benefits and payments provided in Section 5. (iii) If, during the Period of Employment, Executive either (A) retires from employment with the Company or (B) if the Company discharges Executive due to an Incapacity Discharge, in either case while Executive has cause to terminate his employment as a Good Reason Termination (whether or not Executive has provided Notice of Termination to the Company pursuant to

Termination With Compensation. In the event that: (1) Financial Institutions terminates the employment of the Executive for any reason; or (2) the Executive terminates employment with Financial Institutions for any reason, and, in each case, such termination does not entitle the Executive to compensation or benefits under this Agreement and the Executive is entitled to compensation or benefits under another arrangement with Financial Institutions (excluding for this purpose, any payments or distributions from or related to any tax-qualified retirement plan maintained for the benefit of the Executive), then the provisions of Section 4.2 and Section 4.3 shall apply to the Executive during the term of this Agreement and following the Executive’s termination of employment for the period of time equal to the greater of: (i) the period of time during which the Executive is receiving any compensation or benefits from Financial Institutions (excluding for this purpose, any payments or distributions from or related to any tax-qualified retirement plan maintained for the benefit of the Executive); or (ii) the six-month period following the Executive’s termination of employment.

Termination With Compensation. The Company shall have the right to terminate the Employment Term without cause at any time by giving the Employee 30 days' notice of the termination date. In addition, notwithstanding Section 4(d), the Employee may voluntarily terminate his employment with the Company for "good reason" during the one-year period following a Change of Control by giving the Company at least 60 days' notice of the termination date. If the Company terminates the Employment Term pursuant to this Section 5 prior to the occurrence of a Change of Control or after the one-year period following the occurrence of a Change of Control, the Company shall continue to pay to the Employee an amount equal to his Salary, payable in equal installments over the twelve-month period following the termination date. If the Company or the Employee terminates the Employment Term pursuant to this Section 5 during the one-year period following the occurrence of a Change of Control, the Company shall continue to pay to the Employee an amount equal to the sum of his Salary and the targeted Bonus for the year in which the termination date occurs, payable in equal installments over the twelve-month period following the termination date. For purposes of this Section 5, "good reason" shall mean that the Employee experiences a substantial reduction in his total compensation (i.e., the sum of his Salary and potential Bonus) and/or a major change in his reporting relationship. For purposes of this Section 5, "Change of Control" shall have the same meaning as in the Stock Option Plan. 5 The amount to be paid under this Section 5 is referred to herein as the "Termination Compensation." The Employee shall not be entitled to any Termination Compensation unless the Employee executes and delivers to the Company after a notice of termination a release in a form satisfactory to the Company in its sole discretion by which the Employee releases the Company from any obligations and liabilities of any type whatsoever under this Agreement, except for the Company's obligations with respect to the Termination Compensation. The parties hereto acknowledge that the Termination Compensation to be provided under this Section 5 is to be provided in consideration for the above-specified release.

Termination With Compensation. Tufco shall have the right to terminate the Employment Term without cause at any time by giving the Employee 30 days' notice of the termination date. Under such circumstances, Tufco shall continue to pay to the Employee the Salary then in effect for the remainder of the initial term or any renewal term then in effect; provided however, that the Employee shall not be entitled to any compensation under this Section 7 unless the Employee executes and delivers to Tufco after a notice of termination a release in a form satisfactory to Tufco by which the Employee releases Tufco from any obligations and liabilities of any type whatsoever, except for Tufco's obligation to provide the Salary specified in this Section 7. The parties hereto acknowledge that the Salary to be provided under this Section 7 is to be provided in consideration for the above-specified release. Upon any termination under this Section 7, Tufco shall not have any obligation to the Employee, his executors, administrators, heirs, assigns or any other person claiming under or through him other than to pay to the Employee the Salary specified in this Section 7 in exchange for the above-mentioned release.

Termination With Compensation. The Company shall have the right to terminate the Agreement without cause any time by giving the Executive one year's notice of the termination date. Under such circumstances, the Company shall pay any unpaid Basic Compensation and Bonuses, if any, that have accrued through the date of termination, and shall continue to pay to the Executive the Basic Compensation which accrues for one year following the termination date (the "Termination Compensation"), and the Company shall have no other liability or obligation to the Executive. The Executive shall not be entitled to any Termination Compensation unless the Executive executes and delivers to the Company a release, in a form satisfactory to the Company, whereby the Executive releases the Company from any obligations and liabilities of any type with exception to the Termination Compensation as provided herein. The Termination Compensation shall be provided in consideration for the above-specified release.

Termination With Compensation. If Executive terminates his employment or his employment terminates for any of the following reasons and in accordance with the provisions of this Section 6, Executive shall be entitled by virtue of this Agreement to the benefits provided in the foregoing Section 5 as described below: (i) The Executive may terminate his employment with the Company at any time during the Period of Employment for Good Reason ("Good Reason Termination") and shall receive all of the benefits and payments provided in Section 5. For purposes of this Agreement, the term "Good Reason" shall mean:

Termination With Compensation. 5.1 Cache shall have the right to terminate Executive's employment at any time without cause by giving Executive 30 days' notice of the termination date. In the event that Executive's employment is terminated pursuant to this Section 5.1, Cache shall continue to pay Executive the salary then in effect for the balance of the term of this Agreement, less withholdings and other applicable payroll deductions as required by law, in accordance with Cache's normal pay cycle. However, Executive shall not be entitled to any compensation under this Section 5.1 unless Executive executes and delivers to Cache after notice of termination a general release acceptable to Cache by which Executive releases Cache from any obligations and liabilities of any type whatsoever, except for Cache's obligation to provide the salary specified herein. The parties acknowledge that the salary to be provided under this Section 5.1 is in consideration for the above-referenced release. Upon any termination under this Section 5.1, Cache shall have no further obligation to Executive, his executor, administrators, heirs, assigns or any other persons claiming under or through him other than to pay to Executive the salary specified in this Section 5.1 in exchange for the above-referenced release. Executive agrees that any compensation he is to receive pursuant to this Section 5.1 shall be reduced by any compensation Executive receives in connection with any employment position Executive assumes subsequent to his termination date. Executive further agrees that, immediately upon his acceptance of any such employment position, he will notify Cache, in writing, of his employment position and the compensation associated with that position so that Cache may reduce the payments to be made to Executive, in accordance with this Section 5.1. (a) If, during Executive's employment with Cache, there is a "Change of Ownership or Control" of Cache (as herein defined), Cache may terminate Executive's employment by providing written notice at least 30 days prior to the termination date. Upon the occurrence of a Change of Ownership or Control followed at any time during the term of this Agreement by the termination of Executive's employment, other than for Partial/Total Disability, Death or Cause, as defined, respectively, in Sections 4.3, 4.4 and 4.5 of this Agreement, the provisions of Section 5.2(b) of this Agreement shall apply. In addition, at any time following a Change of Ownership or Control, Executive ...

Termination With Compensation. Without limiting any other rights or remedies ARENA may have arising out of or in connection with this Agreement, if there has been a change in Commonwealth government policy, ARENA may, by providing the Recipient with not less than [60] days’ notice, terminate this Agreement or reduce the scope of the Activity. On receipt of a notice of termination or reduction the Recipient must: take all available steps to minimise loss resulting from that termination or reduction and to protect Agreement Material; and in the case of a reduction in scope, continue to undertake any part of the Activity not affected by the notice (unless the Recipient, acting reasonably, notifies ARENA that it is not commercially viable to do so). If this Agreement is terminated under this clause 38.1, ARENA is liable only for: payments under clause 15 in accordance with this Agreement before the effective date of termination, but only to the extent that those monies have been spent, or legally committed for expenditure by the Recipient in accordance with this Agreement and are payable by the Recipient as a current liability, by the date the Recipient receives the notice of termination (written evidence of which will be required); where the Recipient has undertaken work on but not completed a Milestone by the date the Recipient receives the notice of termination, funding in accordance with this Agreement to the extent that those monies have been spent, or legally committed for expenditure by the Recipient in accordance with this Agreement and payable by the Recipient as a current liability, on that Milestone by the date the Recipient receives the notice of termination (written evidence of which will be required); and subject to clause 38.1(e), reasonable costs actually incurred by the Recipient and directly attributable to the termination. If the scope of the Activity is reduced, ARENA's liability to pay the funding under this Agreement abates in accordance with the reduction in the Activity. ARENA is not liable to pay compensation under clause 38.1(c)(iii) for an amount which would, in addition to any amounts paid or due, or becoming due, to the Recipient under this Agreement, exceed the Total Funds. The Recipient is not entitled to compensation for loss of prospective profits. Without limiting any other rights or remedies ARENA may have arising out of or in connection with this Agreement, ARENA may terminate this Agreement or reduce the scope of the Activity effective immediately by giv...