Severance Termination (a) Subject to 56.7 above, indeterminate employees on 4 June 2014 shall be entitled to a severance payment equal to one (1) week's pay for each complete year of continuous employment and, in the case of a partial year of continuous employment, one (1) week's pay multiplied by the number of days of continuous employment divided by three hundred sixty-five (365), to a maximum of thirty (30) weeks.
EMPLOYMENT & TERMINATION This Agreement and the employment of the Executive shall terminate upon the occurrence of any of the following:
Commencement of Employment 2.1 Employment under this Contract [begins/began]* on [insert date]*. [Your pay scale code on commencement is [insert code ]*]*.
Retention Period The Engineer shall maintain all books, documents, papers, accounting records and other evidence pertaining to costs incurred and services provided (hereinafter called the Records). The Engineer shall make the records available at its office during the contract period and for seven (7) years from the date of final payment under this contract, until completion of all audits, or until pending litigation has been completely and fully resolved, whichever occurs last.
Term of Employment The Company hereby agrees to employ the Executive and the Executive hereby agrees to continue to serve the Company, in accordance with the terms and conditions set forth herein, for an initial period of three (3) years, commencing as of the Effective Date of this Agreement, as indicated above; subject, however, to earlier termination as expressly provided in Section 6 herein. The initial three (3) year Employment Term (as defined below) of this Agreement shall be extended automatically for one (1) additional month beginning with the first day of the twenty-third (23rd) month of the initial three (3) year term, and on the first day of each month thereafter the Employment Term of this Agreement automatically shall be extended one additional month; provided, however, either party may give the other party written notice that, beginning with the first of the month that is at ninety (90) days after the date of the notice, the Employment Term shall cease to be extended with respect to any termination of the Executive's employment other than a termination occurring during the Window Period (as defined in Section 6.7 herein). In the event such notice of intent not to renew is properly delivered by either party, then the Employment Term of this Agreement, along with all corresponding rights, duties, and covenants with respect thereto, shall automatically expire ninety (90) days following the end of the later of the initial three- year Employment Term or, if applicable, the extended Employment Term then in effect; provided, however, that notwithstanding the termination of the Employment Term (i) the provisions contained in Section 8 herein shall survive such expiration and (ii) the provisions and protections of this Agreement concerning a Change in Control of the Company (as defined in Section 7 herein), including, without limitation, a Change in Control that occurs after the termination of the Employment Term, shall continue without interruption or change. This Agreement provides (x) for the employment of the Executive for an initial fixed term, which may be extended, (such term, as it may be extended, is referred to herein as the "Employment Term"), and (y) separately, whether or not the Employment Term has expired before a Change in Control of the Company occurs, for Change in Control employment protection for the Executive for as long as the Executive remains an employee of the Company (or any parent or subsidiary), and also with respect to certain terminations of the Executive's employment occurring during the Window Period prior to a Change in Control. Further, notwithstanding anything in this Agreement to the contrary, termination of this Agreement shall not alter or impair any rights or benefits of the Executive (or the Executive's beneficiaries) that have arisen (contingently or otherwise) under this Agreement on or prior to such termination.
Involuntary Termination “Involuntary Termination” shall mean (i) without the Employee’s express written consent, the significant reduction of the Employee’s duties or responsibilities relative to the Employee’s duties or responsibilities in effect immediately prior to such reduction; provided, however, that a reduction in duties or responsibilities solely by virtue of the Company being acquired and made part of a larger entity (as, for example, when the Chief Financial Officer of Company remains as such following a Change of Control and is not made the Chief Financial Officer of the acquiring corporation) shall not constitute an “Involuntary Termination”; (ii) without the Employee’s express written consent, a substantial reduction, without good business reasons, of the facilities and perquisites (including office space and location) available to the Employee immediately prior to such reduction; (iii) without the Employee’s express written consent, a material reduction by the Company in the Base Compensation or Target Incentive of the Employee as in effect immediately prior to such reduction, or the ineligibility of the Employee to continue to participate in any long-term incentive plan of the Company; (iv) a material reduction by the Company in the kind or level of employee benefits to which the Employee is entitled immediately prior to such reduction with the result that the Employee’s overall benefits package is significantly reduced; (v) the relocation of the Employee to a facility or a location more than 50 miles from the Employee’s then present location, without the Employee’s express written consent; (vi) any purported termination of the Employee by the Company which is not effected for death or Disability or for Cause; or (vii) the failure of the Company to obtain the assumption of this agreement by any successors contemplated in Section 10 below.
Employee leaving during notice period An employee given notice of termination in circumstances of redundancy may terminate their employment during the period of notice. The employee is entitled to receive the benefits and payments they would have received under this clause had they remained in employment until the expiry of the notice, but is not entitled to any payment in lieu of any remaining notice.
Duration of Employment 5.1 A seafarer shall be engaged for the period specified in Appendix 1 to this Agreement and such period may be extended or reduced by the amount shown in Appendix 1 for operational convenience. The employment shall be automatically terminated upon the terms of this Agreement at the first arrival of the ship in port after expiration of that period, unless the Company operates a permanent employment system.