Termination of Employment Period Contract Clauses (55)

Termination of Employment Period. The Employment Period shall terminate upon the occurrence of any of the following: 4.1 Termination of the Agreement Term. At the expiration of the Agreement Term, but only if appropriate notice is given pursuant to Section 1. 4.2 Termination for Cause. At the election of the Company, for "Cause," upon written notice by the Company to Executive. For the purposes of this Agreement, "Cause" for termination shall be deemed to exist upon the occurrence of any of the following: (a) Executive's convict...ion or entry of nolo contendere to any felony or a crime involving moral turpitude, fraud or embezzlement of Company property; or (b) Executive's dishonesty, gross negligence or gross misconduct that is materially injurious to the Company or material breach of his duties under this Agreement, which has not been cured by Executive within 10 days (or longer period as is reasonably required to cure such breach, negligence or misconduct) after he shall have received written notice from the Company stating with reasonable specificity the nature of such breach; or (c) Executive's illegal use or abuse of drugs, alcohol, or other related substances that is materially injurious to the Company. 4.3 Voluntary Termination by the Company. At the election of the Company, without Cause, upon 30 days prior written notice by the Company to the Executive; provided, however, that, in lieu of such notice, the Company at its option may elect to relieve the Executive of his duties immediately and continue to pay the Executive his regular compensation and benefits during such 30-day period. 4.4 Death or Disability. As used in this Agreement, the determination of "disability" shall occur when Executive, due to a physical or mental disability, for a period of 90 { 3 days in the aggregate whether or not consecutive, during any 360-day period, is unable to perform the services contemplated under this Agreement. A determination of disability shall be made by a physician satisfactory to both Executive and the Company; provided, however, that if Executive and the Company do not agree on a physician, Executive and the Company shall each select a physician and these two together shall select a third physician, whose determination as to disability shall be binding on all parties. Notwithstanding the foregoing, (i) Executive shall be deemed to have a "disability" if Executive receives any benefits under any long-term disability insurance policy, whether such policy is carried by the Company or by Executive; and (ii) if and only to the extent that Executive's disability is a trigger for the payment of deferred compensation, as defined in Section 409A of the Code, "disability" shall have the meaning set forth in Section 409A(a)(2)(C) of the Code. 4.5 Termination for Good Reason. Subject to the notice and cure periods set forth in Section 5.5, at the election of Executive for "Good Reason" upon written notice by the Executive to the Company. For the purposes of this Agreement, "Good Reason" for termination shall be deemed to exist upon the occurrence of any of the following, without Executive's written consent: (a) a "material diminution" (as such term is used in Section 409A of the Code) of the duties assigned to Executive; (b) a material reduction in Base Salary or other benefits (other than a reduction or change in benefits generally applicable to all executive employees of the Company); or (c) relocation of Executive to an office more than 50 miles outside the Company's current location in the greater Boston area. Notwithstanding the occurrence of any of the events enumerated in this Section 4.5, no event or condition shall be deemed to constitute Good Reason unless (i) Executive reports the event or condition which the Executive believes to be Good Reason to the Board, in writing, within 45 days of such event or condition occurring and (ii) within 30 days after the Executive provides such written notice of Good Reason, the Company has failed to fully correct such Good Reason and to make the Executive whole for any such losses. 4.6 Voluntary Termination by Executive. At the election of Executive, without Good Reason, upon not less than 30 days prior written notice by him to the Company. View More

Termination of Employment Period. This Agreement and the employment of the Executive shall terminate upon the occurrence of any of the following: 4.1 Expiration of the Employment Period by notice of non-renewal in accordance with Section 1; 4.2 At the election of the Company for Cause (as defined below), immediately upon written notice by the Company to the Executive, which notice shall identify the Cause upon which the termination is based; 4.3 At the election of the Executive for Good Reason (as defined below), pursuant to the... provisions set forth below; 4.4 Upon the death or Disability (as defined below) of the Executive; 4.5 At the election of the Company without Cause, upon not less than fifteen (15) days' prior written notice of termination (the "Notice Period"), provided, however, that the Company may, in its sole discretion, in lieu of all or part of the Notice Period, pay the Executive an amount equal to the Base Salary that would otherwise have been payable to the Executive had the Executive remained employed for the duration of the Notice Period (in which case the Executive's termination will become effective on the date set forth in the Company's written notice of termination (the "Early Termination Date"), and the Executive will be paid an amount equal to the Base Salary the Executive would have received had the Executive remained employed by the Company between the Early Termination Date and the end of the Notice Period (the "Early Termination Payment"), with the Early Termination Payment to be made no later than the 30th day following the end of the Notice Period); or 4.6 At the election of the Executive without Good Reason, upon not less than fifteen (15) days' prior written notice of termination. View More