Common use of Voluntary Termination without Good Reason; Termination for Cause Clause in Contracts

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.

Appears in 1 contract

Sources: Employment Agreement (Solectron Corp)

Voluntary Termination without Good Reason; Termination for Cause. For purposes of this Section 9If within twelve (12) months following a Change in Control, 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, (viv) Executive will be entitled to payment of the vested portion, if any, of his Deferred Compensation (described in Section 4(g)) (which shall become fully vested upon a Change in Control) (as adjusted for investment returns thereon) in accordance with his payout election pursuant to Section 4(f4(g), (v) Executive will be entitled to his Restricted Shares (described in Section 4(e)) (which shall have become fully vested upon a Change in Control), (vi) Executive will be entitled to his Options (described in Section 4(d)) and (vivii) Executive will only be eligible for severance benefits in accordance with the Company's established policies as then in effect.

Appears in 1 contract

Sources: Employment Agreement (Solectron Corp)

Voluntary Termination without Good Reason; Termination for Cause. For purposes of this Section 910, 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.

Appears in 1 contract

Sources: Employment Agreement (Solectron Corp)

Voluntary Termination without Good Reason; Termination for Cause. For purposes of this Section 9, if 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 his Restricted Stock and Deferred Compensation (as adjusted for investment returns thereon) will be determined in accordance with the applicable provisions of Sections 4 and 8Section 4(e), (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 Payment (as adjusted for investment returns thereon) in accordance with his payout election pursuant to Section 4(f4(g), and (vi) Executive will only be eligible for severance benefits in accordance with the Company's established policies as then in effect.

Appears in 1 contract

Sources: Employment Agreement (Solectron Corp)