Compensation on Voluntary Termination Sample Clauses

Compensation on Voluntary Termination. On termination under clause 34.1 (Voluntary Termination by the Authority), the Authority shall pay the Contractor the applicable Contractor Breakage Costs in accordance with clauses 38 (Gross Up of Termination Payments) and 39 (Method of Payment). The amount payable under this clause 34.2 (Compensation on Voluntary Termination) shall be reduced or extinguished to the extent that the Contractor has already received such amount through the Contract Price or through the financial benefit of any other remedy given under the Contract (or, in the case of a termination of this Contract in part, will receive through future payments of the Contract Price) so that there is no double counting in calculating the relevant payment.
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Compensation on Voluntary Termination. On termination under clause 52.1 (Voluntary Termination by the Authority), the Authority shall pay the Contractor an amount equal to the amount payable under clause 48.2.1 (Termination on Authority Default) in accordance with clauses 53 (Gross Up of Termination Payments) and 54 (Method of Payment). On termination under this clause 52 (Voluntary Termination by the Authority the Authority shall have the option to require the Contractor to transfer all of its right, title and interest in and to the Assets to the Authority or as directed by the Authority.
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Compensation on Voluntary Termination. 59.1 On termination under clause 58 (Voluntary Termination by the Councils) the Councils shall pay the Contractor an amount equal to the amount payable under clause 50 (Termination on Council Default) in accordance with clause 60 (Calculation and Payment of Compensation on Early Termination).
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Compensation on Voluntary Termination. On termination under clause 37.1 (Voluntary Termination by the Authority), the Authority shall pay the Contractor an amount equal to the amount payable under clause 33.2.1 (Compensation on Termination for Authority Default) in accordance with clauses 39 (Method of Payment). On termination under this clause 37 (Voluntary Termination by the Authority), the Authority shall have the option to require the Contractor to transfer all of its rights, title and interest in and to the Assets to the Authority or as directed by the 37 METHOD OF PAYMENT38 The Authority shall pay to the Contractor the Termination Sum, together with any interest at the Prescribed Rate on or before the date falling thirty (30) Business Days after the Termination Date.
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Compensation on Voluntary Termination. (a) On termination of this Agreement under Clause 33.9, the Authority shall pay to the Contractor an amount equal to the aggregate of: (i) the Subcontractor Breakage Costs; (ii) statutory redundancy payments for employees of the Contractor that have been or will be reasonably incurred by the Contractor as a direct result of termination of this Agreement; and (iii) subject to Clause 33.10(b), the relevant amount (Termination Compensation Amount) set out in Appendix 8 of Schedule 11 (Payment Mechanism) in the column headed “Termination Compensation Amount” for each Contract Year or part of a Contract Year in the period ending on the Expiry Date which has not yet expired prior to the Termination Date. (b) For the avoidance of doubt, the Authority shall not be required to pay a Termination Compensation Amount for a Contract Year or part of a Contract Year referred to in Clause 33.10(a)(iii) which is part of an Exit Period. (c) For the purposes of this Clause 33.10, the Termination Compensation Amount for a Contract Year which has commenced but not yet expired on the date of the relevant Authority Termination Notice shall be reduced by a proportion equal to the proportion that the expired part of that Contract Year bears to a whole Contract Year.
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Related to Compensation on Voluntary Termination

  • Compensation on Termination An Employee whose services have been terminated for any cause and who within three (3) months of separation is diagnosed by a physician as having tuberculosis, shall be entitled to the above compensation and the salary rate shall be based on the salary he was receiving at the time his services were terminated. The benefits of this provision may be extended for an additional three (3) months, provided that the former Employee concerned submits a x-ray plate taken within three (3) months after the termination of employment.

  • Voluntary Termination Executive may voluntarily terminate Executive’s employment for any reason upon 30 days’ prior written notice. In such event, after the effective date of such termination, except as provided in Section 2.2 with respect to a resignation for Good Reason, no further payments shall be due under this Agreement, except that Executive shall be entitled to any benefits accrued in accordance with the terms of any applicable benefit plans and programs of the Company.

  • Compensation Upon Termination of Employment If the Executive’s employment hereunder is terminated, in accordance with the provisions of Article III hereof, and except for any other rights or benefits specifically provided for herein to be effective following the Executive’s period of employment, the Company will provide compensation and benefits to the Executive only as follows:

  • Voluntary Termination; Termination for Cause If Executive’s employment with the Company terminates voluntarily by Executive or for “Cause” by the Company, then (i) all vesting of the Option will terminate immediately and all payments of compensation by the Company to Executive hereunder will terminate immediately (except as to amounts already earned), and (ii) Executive will only be eligible for severance benefits in accordance with the Company’s established policies as then in effect.

  • Severance Compensation upon Termination of Employment 4.1 If the Executive’s employment with the Corporation or the Partnership shall be terminated (a) by the Corporation or Partnership other than for Cause or pursuant to Sections 3.6 or 3.7, or (b) by the Executive for Good Reason, then the Corporation and the Partnership shall: (i) pay to the Executive as severance pay, within five days after termination, a lump sum payment equal to 250% of the sum of the Executive’s annual salary at the rate applicable on the date of termination and the average of the Executive’s annual bonus for the preceding two full fiscal years; (ii) arrange to provide Executive, for a 12 month period (or such shorter period as Executive may elect), with disability, accident and health insurance substantially similar to those insurance benefits which Executive is receiving immediately prior to the date of termination to the extent obtainable upon reasonable terms; provided, however, if it is not so obtainable the Corporation shall pay to the Executive in cash the annual amount paid by the Corporation or the Partnership for such benefits during the previous year of the Executive’s employment. Benefits otherwise receivable by Executive pursuant to this Section 4.1(ii) shall be reduced to the extent comparable benefits are actually received by the Executive during such 12 month period following his termination (or such shorter period elected by the Executive), and any such benefits actually received by Executive shall be reported by the Executive to the Corporation; and (iii) any options granted to Executive to acquire common stock of the Corporation, any restricted shares of common stock of the Corporation issued to the Executive and any other awards granted to the Executive under any employee benefit plan that have not vested shall immediately vest on said termination. (a) The Executive shall not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking other employment or otherwise, nor, except to the extent provided in Section 4.1 above, shall the amount of any payment provided for under this Agreement be reduced by any compensation earned by the Executive as a result of employment by another employer or by insurance benefits after the date of termination, or otherwise. (b) The provisions of this Agreement, and any payment provided for hereunder, shall not reduce any amounts otherwise payable, or in any way diminish the Executive’s existing rights, or rights which would accrue solely as a result of the passage of time, under any benefit plan of the Corporation or Partnership, or other contract, plan or arrangement.

  • Voluntary Termination by Employee Subject to Section 12 hereof, the Employee may voluntarily terminate employment with the Bank during the term of this Agreement, upon at least 90 days' prior written notice to the Board of Directors, in which case the Employee shall receive only his compensation, vested rights and employee benefits up to the date of his termination (unless such termination occurs pursuant to Section 10(d) hereof or within the Protected Period, in Section 12(a) hereof, in which event the benefits and compensation provided for in Sections 10(d) or 12, as applicable, shall apply).

  • Voluntary Termination of Employment If during the Employment Term, Executive terminates his employment under circumstances other than those specified elsewhere in this Section 8, Executive shall be entitled to the payments and benefits specified in Section 8(a).

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Cause and Voluntary Termination If, during the Employment Period, the Executive's employment shall be terminated for Cause or voluntarily terminated by the Executive (other than on account of Good Reason following a Change of Control), the Company shall pay the Executive (i) the Earned Salary in cash in a single lump sum as soon as practicable, but in no event more than 10 days, following the Date of Termination, and (ii) the Accrued Obligations in accordance with the terms of the applicable plan, program or arrangement.

  • Involuntary Termination for Cause If the Employee's employment is terminated for Cause, then the Employee shall not be entitled to receive severance payments. The Employee's benefits will be terminated under the Company's then existing benefit plans and policies in accordance with such plans and policies in effect on the date of termination.

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