Voluntary Termination without Good Reason; Termination for Cause Clause Samples
This clause defines the circumstances under which an employee may voluntarily resign without citing a specific good reason, as well as the conditions under which an employer may terminate the employee for cause. In practice, it outlines the process and notice requirements for an employee who chooses to leave their position on their own accord, and specifies the types of misconduct or performance failures that would justify immediate dismissal by the employer. The core function of this clause is to clarify the rights and obligations of both parties in situations where employment ends either by the employee's choice or due to the employee's actions, thereby reducing ambiguity and potential disputes.
Voluntary Termination without Good Reason; Termination for Cause. If Executive’s employment with the Company terminates voluntarily by Executive without Good Reason or is terminated for Cause by the Company, then (i) all further vesting of Executive’s outstanding equity awards will terminate immediately, (ii) all payments of compensation by the Company to Executive hereunder will terminate immediately, and (iii) Executive will be eligible for severance benefits only in accordance with the Company’s then established plans, programs, and practices.
Voluntary Termination without Good Reason; Termination for Cause. If Executive’s employment with the Company terminates voluntarily by Executive without Good Reason or is terminated for Cause by the Company, then (i) all further vesting of Executive’s outstanding equity awards will terminate immediately, (ii) all payments of compensation by the Company to Executive hereunder will terminate immediately (except as to amounts already earned), and (iii) Executive will not be entitled to any severance but Executive will be paid all accrued but unpaid vacation, expense reimbursements and other benefits due to Executive through his termination date under any Company-provided or paid plans, policies, and arrangements.
Voluntary Termination without Good Reason; Termination for Cause. Upon any termination of this Agreement: (1) voluntarily by the Executive without Good Reason, or (2) by the Company for Cause, all payments, salary and other benefits hereunder shall cease at the effective date of termination except as specifically provided in this Section 9.
Voluntary Termination without Good Reason; Termination for Cause. For purposes of this Section 9, if Executive's employment with the Company terminates voluntarily by Executive without Good Reason or for Cause by the Company, then (i) all further vesting of the Executive's outstanding options to purchase Common Stock will terminate immediately, (ii) all payments of compensation by the Company to Executive hereunder will terminate immediately (except as to amounts already earned), (iii) the Executive's vested rights to the Restricted Stock and Deferred Compensation (as adjusted for investment returns thereon) will be determined in accordance with the applicable provisions of Sections 4 and 8, (iv) the Executive will be paid all accrued but unpaid vacation, expense reimbursements and other benefits due to Executive through his termination date under any Company-provided or paid plans, policies and arrangements, (v) Executive will be entitled to payment of the vested portion, if any, of his Deferred Compensation (as adjusted for investment returns thereon) in accordance with his payout election pursuant to Section 4(f), and (vi) Executive will only be eligible for severance benefits in accordance with the Company's established policies as then in effect.
Voluntary Termination without Good Reason; Termination for Cause. If Executive’s employment with Heska terminates voluntarily by Executive without Good Reason or is terminated for Cause by Heska, then (i) all further vesting of Executive’s outstanding equity awards will terminate immediately, (ii) all payments of compensation by Heska to Executive hereunder will terminate immediately (except as to amounts already earned), and (iii) Executive will not be entitled to any severance but Executive will be paid all accrued but unpaid vacation, expense reimbursements and other benefits due to Executive through his termination date under any Company-provided or paid plans, policies, and arrangements.
Voluntary Termination without Good Reason; Termination for Cause. Upon any termination of the Executive’s employment under this Agreement either (i) voluntarily by the Executive without Good Reason, or (ii) by the Company for Cause, all payments, Base Salary and other benefits hereunder shall cease at the effective date of termination. Notwithstanding the foregoing, the Company shall pay or provide to the Executive (a) all Base Salary earned or accrued through the date the Executive’s employment terminates, (b) reimbursement for any and all monies advanced by the Executive in connection with the Executive’s employment for reasonable and necessary expenses incurred by the Executive through the date the Executive’s employment is terminated, (c) except upon termination of the Executive’s employment by the Company for Cause, any unpaid Annual Bonus earned in a prior calendar year, based on the actual level of achievement of the applicable targets or performance as determined by the Committee at the end of such calendar year, and (d) all other payments and benefits to which the Executive may be entitled under the terms of any applicable compensation arrangement or benefit plan or program of the Company, including any earned and accrued, but unused, vacation pay, but excluding any bonus payments (collectively, “Accrued Benefits”), except that, for this purpose, Accrued Benefits shall not include any entitlement to severance under any Company Group severance policy generally applicable to the Company’s salaried employees.
Voluntary Termination without Good Reason; Termination for Cause. For purposes of this Section 8, if Executive's employment with the Company terminates voluntarily by Executive without Good Reason or for Cause by the Company, then (i) all further vesting of the Restricted Stock and all outstanding options to purchase the Company's Common Stock will terminate immediately, (ii) all payments of compensation by the Company to Executive hereunder will terminate immediately (except as to amounts already earned), (iii) the Executive will be paid all accrued but unpaid vacation, expense reimbursements and other benefits due to Executive through his termination date under any Company-provided or paid plans, policies and arrangements, (iv) Executive will be entitled to payment of the vested portion, if any, of his Deferred Compensation (as adjusted for investment returns thereon) in accordance with his payout election pursuant to Section 4(f), and (v) Executive will only be eligible for severance benefits in accordance with the Company's established policies as then in effect.
Voluntary Termination without Good Reason; Termination for Cause. If Executive’s employment with the Company terminates voluntarily by Executive without Good Reason or is terminated for Cause by the Company, then (i) all further vesting of Executive’s outstanding unvested Stock Options will terminate immediately, and Executive will receive a post-termination exercise period of twelve (12) months under all Stock Options, (ii) all payments of compensation by the Company to Executive hereunder will terminate immediately (except as to amounts already earned), (iii) Executive will be paid all accrued but unpaid salary, vacation, any earned bonuses, expense reimbursements and other benefits due to Executive through his termination date under any Company-provided or paid plans, policies, and arrangements, and (iv) Executive will be eligible for severance benefits only in accordance with the Company’s then established policies and practices.
Voluntary Termination without Good Reason; Termination for Cause. If Executive’s employment with the Company terminates voluntarily by Executive without Good Reason or is terminated for Cause by the Company, then (i) all further vesting of Executive’s outstanding stock options will terminate immediately, (ii) all payments of compensation by the Company to Executive hereunder will terminate immediately (except as to amounts already earned), (iii) Executive will be paid all accrued but unpaid salary, vacation, any earned bonuses, expense reimbursements and other benefits due to Executive through her termination date under any Company-provided or paid plans, policies, and arrangements, and (iv) except as provided in subparagraph (a) above, Executive will be eligible for severance benefits only in accordance with the Company’s then established policies and practices.