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Rick's Cabaret International (RICK)
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RICK » Topics » Termination.

This excerpt taken from the RICK 8-K filed Jun 1, 2009.
Termination.  This Agreement and the employment relationship created hereby will terminate (i) upon the death or disability of Executive under section 7(a) or 7(b); (ii) with cause under Section 7(c); (iii) for good reason under Section 7(d); (iv) upon the voluntary termination of employment by Executive under Section7(e); or without cause under Section 7(f).
 
 
(a)
Disability.  The Company shall have the right to terminate the employment of the Executive under this Agreement for disability in the event Executive suffers an injury, illness, or incapacity of such character as to substantially disable him from performing his duties without reasonable accommodation by the Company hereunder for a period of more than one hundred eighty (180) consecutive days upon the Company giving at least thirty (30) days written notice of termination.

 
(b)
Death.  This Agreement will terminate on the Death of the Executive.

 
(c)
With Cause.  The Company may terminate this Agreement at any time because of (i) Executive's material breach of any term of the Agreement, (ii) the determination by the Board of Directors in the exercise of its reasonable judgment that Executive has committed an act or acts constituting a felony or other crime involving moral turpitude, dishonesty or theft or fraud; or (iii) Executive's gross negligence in the performance of his duties hereunder, provided, however, that the Company shall not terminate this Agreement pursuant to Section 7(c)(i) or 7(c)(iii) unless the Company shall first have delivered  to  the Executive a notice which specifically identifies such breach or misconduct and the executive shall not have cured the same within fifteen (15) days after receipt of such notice.
 
Employment Agreement - Page 4
 
 
 
 

 
(d)
Good Reason.  The Executive may terminate his employment for "Good  Reason" if:

 
(i)
he is assigned, without his express written consent, any duties materially inconsistent with his positions, duties, responsibilities, or status with the Company as of the date hereof, or a change in his reporting responsibilities or titles as in effect as of the date hereof; provided, however, that Executive must provide the Company with written notice of his dispute of such re-assignment of duties or change in his reporting responsibilities under this Section 7(d)(i) and give the Company opportunity to cure such inconsistency.  If such dispute is not resolved within thirty (30) days, the Company shall submit such dispute to arbitration under Section 14.

 
(ii)
his compensation is reduced;

 
(iii)
the Company does not pay any material amount of compensation due hereunder and then fails either to pay such amount within the ten (10) day notice period required for termination hereunder or to contest in good faith such notice.  Further, if such contest is not resolved within thirty (30) days, the Company shall submit such dispute to arbitration under Section 14.

 
(e)
Voluntary Termination.  The Executive may terminate his employment voluntarily.

 
(f)
Without Cause.  The Company may terminate this Agreement without cause.

8.
This excerpt taken from the RICK 8-K filed Sep 8, 2008.
Termination.  This Agreement and the engagement created hereby will terminate upon any of the following events:

 
(a)
Disability.  Rick’s shall have the right to terminate the engagement of the Consultant under this Agreement for disability in the event Consultant suffers an injury, illness, or incapacity of such character as to substantially disable him from performing his duties without reasonable accommodation by Rick’s hereunder for a period of more than sixty (60) consecutive days upon Rick’s giving at least thirty (30) days written notice of termination.

 
(b)
Death.  This Agreement will terminate on the Death of the Consultant.
 
Consulting Agreement - Page 2
 
 
(c)
Breach of Non-Competition Agreement.  Rick’s may terminate this Agreement for any breach of the Non-Competition Agreement executed simultaneously herewith between Rick’s, Buyer and Consultant.
 
(d)
With Cause.  Rick’s may terminate this Agreement for cause defined as:

(i) embezzlement or wrongful diversion of funds of Rick’s or any of its affiliates;
(ii) Abandonment by Consultant of his responsibilities and duties as set forth herein, provided Consultant’s responsibilities and duties are reasonable and consistent with Paragraph 2 (b) above;
(iv) other material breach of this Agreement by Consultant that remains uncured for a period of at least ten (10) days following written notice from Rick’s; or
(v) conviction of Consultant with entry of a plea of nolo contendre or equivalent plea of a felony in a court of competent jurisdiction, or any other crime or offense involving moral turpitude.

 
(e)
Without Cause.  Consultant may terminate this Agreement without cause; and

 
(f)
Without Cause by Rick’s.  Rick’s may terminate this Agreement without cause.  In the event that Rick’s terminates this Agreement without cause, then the Non-Competition Agreement shall terminate contemporaneously, provided, however, that in no event can the Non-Competition Agreement be terminated less than six months after the date of the Transaction, regardless of whether Rick’s terminates this Agreement without cause less that six months from the date of the Transaction.

In the event that this Agreement and the engagement created hereby terminates pursuant to Section 5(a), (b), (c), (d), (e) or (f) above, then Rick’s shall not be obligated to make any further payment under this Agreement to the Consultant.

6.           
This excerpt taken from the RICK 8-K filed May 14, 2008.
Termination.  If this Agreement is terminated pursuant to any paragraph or provision hereof granting such power or by the mutual written consent of the parties hereto, the parties shall thereafter have no further obligation or liabilities to the other hereunder.  All monies held in escrow pursuant to this Agreement shall be returned to the appropriate party as provided for in the relevant section hereto.

 
10
 

This excerpt taken from the RICK 8-K filed May 9, 2008.
Termination.  This Agreement and the employment relationship created hereby will terminate (i) upon the death or disability of Executive under section 7(a) or 7(b); (ii) with cause under Section 7(c); (iii) for good reason under Section 7(d); (iv) upon the voluntary termination of employment by Executive under Section7(e); or without cause under Section 7(f).

 
(a)
Disability.  The Company shall have the right to terminate the employment of the Executive under this Agreement for disability in the event Executive suffers an injury, illness, or incapacity of such character as to substantially disable him from performing his duties without reasonable accommodation by the Company hereunder for a period of more than one hundred eighty (180) consecutive days upon the Company giving at least thirty (30) days written notice of termination.

 
(b)
Death.  This Agreement will terminate on the Death of the Executive.

 
(c)
With Cause.  The Company may terminate this Agreement at any time because of (i) Executive's material breach of any term of the Agreement, (ii) the determination by the Board of Directors in the exercise of its reasonable judgment that Executive has committed an act or acts constituting a felony or other crime involving moral turpitude, dishonesty or theft or fraud; or (iii) Executive's gross negligence in the performance of his duties hereunder, provided, in each case, however, that the Company shall not terminate this Agreement pursuant to this Section 7(c) unless the Company shall first have delivered  to  the Executive, a notice which specifically identifies such breach or misconduct and the executive shall not have cured the same within fifteen (15) days after receipt of such notice.

 
(d)
Good Reason.  The Executive may terminate his employment for "Good  Reason" if:

 
Employment Agreement - Page 4
 

 
(i)
he is assigned, without his express written consent, any duties materially inconsistent with his positions, duties, responsibilities, or status with the Company as of the date hereof, or a change in his reporting responsibilities or titles as in effect as of the date hereof; provided, however, that Executive must provide the Company with written notice of his dispute of such re-assignment of duties or change in his reporting responsibilities under this Section 7(d)(i) and give the Company opportunity to cure such inconsistency.  If such dispute is not resolved within thirty (30) days, the Company shall submit such dispute to arbitration under Section 14.

 
(ii)
his compensation is reduced;

 
(iii)
the Company does not pay any material amount of compensation due hereunder and then fails either to pay such amount within the ten (10) day notice period required for termination hereunder or to contest in good faith such notice.  Further, if such contest is not resolved within thirty (30) days, the Company shall submit such dispute to arbitration under Section 14.

(e)
Voluntary Termination.  The Executive may terminate his employment voluntarily.
 
(f) 
 Without Cause.  The Company may terminate this Agreement without cause.

 
8.
Obligations of Company Upon Termination.

 
(a)
In the event of the termination of Executive's employment pursuant to Section 7 (a), (b), (c) or (e), Executive will be entitled only to the compensation earned by him hereunder as of the date of such termination (plus life insurance or disability benefits if applicable and provided for pursuant to Section 4(c)).

 
(b)
In the event of the termination of Executive’s employment pursuant to Section 7 (d) or (f), Executive will be entitled to receive in one lump sum payment the full remaining amount under the Term of this Agreement to which he would have been entitled had this Agreement not been terminated.

9.    
This excerpt taken from the RICK 8-K filed Apr 21, 2008.
Termination.  This Agreement and the employment relationship created hereby will terminate (i) upon the death or disability of Executive under section 7(a) or 7(b); or (ii) with cause under Section 7(c).
 
 
(a)
Disability.  The Company shall have the right to terminate the employment of the Executive under this Agreement for disability in the event Executive suffers an injury, illness, or incapacity of such character as to substantially disable him from performing his duties without reasonable accommodation by the Company hereunder for a period of more than one hundred eighty (180) consecutive days upon the Company giving at least thirty (30) days written notice of termination.
 
(b)
Death.  This Agreement will terminate on the Death of the Executive.
 
(c)
With Cause.  The Company may terminate this Agreement at any time because of (i) Executive's material breach of any term of the Agreement, (ii) the determination by the Board of Directors in the exercise of its reasonable judgment that Executive has committed an act or acts constituting a felony or other crime involving moral turpitude, dishonesty or theft or fraud; or (iii) Executive's gross negligence in the performance of his duties hereunder, provided, in each case, however, that the Company shall not terminate this Agreement pursuant to this Section 7(c) unless the Company shall first have delivered  to  the Executive, a notice which specifically identifies such breach or misconduct and the executive shall not have cured the same within fifteen (15) days after receipt of such notice.
 
8.           

EXCERPTS ON THIS PAGE:

8-K
Jun 1, 2009
8-K
Sep 8, 2008
8-K
May 14, 2008
8-K
May 9, 2008
8-K
Apr 21, 2008

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