Separation Contract Clauses (188)

Separation. In the event of any cessation of your employment, the Corporation shall pay you (i) any salary earned and accrued but unpaid before termination and all accrued but unused paid time off not barred by the accrual cap, and (ii) any documented business expenses incurred in accordance with the Corporation's policies but not reimbursed as of the date of termination. You shall not be entitled to any severance or separation benefits except under the following provisions: In the event that you are termin...ated without Cause (as defined below) or resign with Good Reason (as defined below) before the second anniversary of the Start Date, then you shall be entitled to receive the following severance benefits (and no other): (i) to receive continuation of your Base Salary as in effect immediately before the termination date, paid on the same basis and at the same times as previously paid, through the second anniversary of the Start Date; and (ii) should you timely elect to continue coverage for you and your eligible dependents pursuant to COBRA, to receive reimbursement for such same period for the COBRA premiums (but subject to the Corporation's right to discontinue or change any of its COBRA-eligible plans generally or to change providers). As used herein, "Cause" means termination based on (i) your conviction or plea of "guilty" or "no contest" to any crime constituting a felony in the jurisdiction in which committed, any crime involving moral turpitude (whether or not a felony), or any other violation of criminal law involving, fraud, dishonesty or willful misconduct (whether or not a felony); (ii) your refusal to follow the lawful and proper directives of the Board of Directors; (iii) your knowing and willful breach of this letter agreement or the Confidentiality Agreement; (iv) your actions that would be likely to materially discredit or cause substantial damage to the Corporation or its reputation; (v) your knowing and willful material breach of your duty of care (except in good faith) or your duties of trust or loyalty; (vi) your willful falsification of records or reports; (vii) your chronic absence from work for reasons other than illness; or (viii) failure to enter into the Release or revocation of the Release; provided, however, that for purposes of (ii), (iii), (iv), (v), (vi), (vii) or (viii), the Corporation will provide to you a written notice from the Board of Directors which describes the basis for the Board of Directors' belief that you have not substantially satisfied your obligations to the Corporation and a reasonable opportunity to cure any such alleged deficiencies within 15 days if such Kyle Redfield October 24, 2017 Page 4 deficiency can be cured. It is understand that mere poor performance or poor results does not constitute Cause. As used herein, "Good Reason" means the occurrence of any of the following circumstances, without your express consent: you resign due to (i) a material reduction of your title or authority (including, after a transaction in which the Corporation is acquired, a requirement that you serve in a role other than Chief Executive Officer of the acquiring entity), (ii) a material reduction in your salary or benefits (other than a reduction that generally applies to the officers at your level in the Corporation or, as applicable, the surviving corporation at that time), or (iii) a change of the principal non-temporary location in which you are required to perform your services to any location exceeding 50 miles from Carlsbad, California. In no event shall a resignation be considered to be with Good Reason unless the resignation occurs after but within 30 days after the initiation of the item of Good Reason. If so required to avoid any liability or tax under section 409A of the Internal Revenue Code, this Section 9 shall be deemed reformed to require payments only when and in the amounts necessary to avoid any liability or tax under section 409A of the Internal Revenue Code. View More

Separation. Employee's employment with the Company terminated effective as of September 4, 2019 (the "Separation Date"). Effective as of such date, Employee's employment by the Company terminated and Employee separated from Employee's positions with the Company and all subsidiaries and affiliates of the Company and from any and all other positions, roles, offices, or titles held by Employee with, at the direction of, or for the benefit of the Company and all subsidiaries and affiliates of the Company (inclu...ding as a member of the Board of Directors of the Company and all such other positions, roles, offices, or titles referred to in Section 22 of the Employment Agreement). View More

Separation. In order to effect Executive's separation from the Company, Executive hereby resigns his position as a member of the Board and his position as the Company's Chief Executive Officer, and all other positions Executive holds with the Company, its subsidiaries and affiliates, and TexMark Timber Treasury, L.P. and its affiliates (collectively, "Triple T"), effective as of January 21, 2020 (the "Termination Date"). Simultaneously with the execution of this Agreement, Executive shall execute and delive...r to the Company a resignation letter with respect to Triple T acceptable to the Company. Executive acknowledges and agrees that he has been paid all wages and accrued benefits to which he is entitled through the date of execution of this Agreement or that the Company has promised to pay such wages and accrued benefits within thirty (30) days of the Termination Date. Other than the payments set forth in this Agreement, the parties agree that the Company owes no additional amounts to Executive for wages, back pay, severance pay, bonuses, damages, accrued vacation, benefits, insurance, sick leave, other leave, or any other reason. This Agreement is intended to, and does, settle and resolve all claims of any nature that Executive might have against the Company arising out of his employment relationship with Company or the termination of such employment or relating to any other matter. View More

Separation. Employee's resignation of his employment with Employer will be effective at the close of business on June 26, 2020 ("Separation Date"). As of the Separation Date, Employee has no authority to speak for, act for, represent, or in any way affect the affairs of Employer and is restricted from entering Employer's property, except as specifically permitted by the Employer.

Separation. Employee hereby resigns from his employment with Employer effective May 27, 2014 (hereafter, the "Separation Date"). Effective on the Separation Date, Employee will no longer be an employee, officer, director, member, partner, agent or trustee of Employer and will no longer have the authority to act on behalf of the Employer or Released Parties (as defined below). 1 4. SEVERANCE PAYMENT. In exchange for the promises and/or covenants of Employee contained herein, subject to the provisions contain...ed within this Agreement, Employer covenants and agrees to pay Employee $325,000.00, less all applicable federal, state, and local taxes and withholding ("Severance Payment"), in a single payment on Employer's first normal payroll date following the Effective Date. View More

Separation. Your last day of work with the Company and your employment separation date will be (a) May 31, 2014 or (b) such earlier date as may be mutually agreed upon in writing by you and the Company (the "Separation Date"). You will resign all of your positions at the Company and its affiliates (and as a fiduciary of any benefit plan of the Company and its affiliates) as of the Separation Date, and you will execute such additional documents as reasonably requested by the Company to evidence the foregoing.... Except as otherwise expressly provided for herein, the Separation Date will be the separation date of your employment for purposes of active participation in and coverage under all benefit plans and programs sponsored by or through the Company. For the avoidance of doubt, your separation of employment from the Company hereunder shall be treated as a resignation for all purposes, including, without limitation, the Employment Agreement by and between you and the Company entered into to be effective as of January 11, 2011 (the "Employment Agreement"). As of March 1, 2014, you shall resign from your position as General Counsel, and from March 1, 2014 until the Separation Date, you will continue to serve the Company in the role of Senior Vice President and Counsel, and you will execute all the required duties of that office in a professional and capable manner through the Separation Date. View More