Early Terminating Consulting Employees Sample Clauses

Early Terminating Consulting Employees. As used herein, the term “Early Terminating Consulting Employee” means a WebSphere Business Consulting Employee who accepts employment with Purchaser by the Closing Date but does not remain employed with Purchaser during the entire 180-day period immediately following the Closing Date for any reason other than due to (a) Purchaser’s termination of the employment of such WebSphere Business Consulting Employee or (b) such WebSphere Business Consulting Employee’s voluntary termination of employment with Purchaser for “good reason” (as defined below). If any WebSphere Business Consulting Employee who accepts employment with Purchaser by the Closing Date subsequently becomes an Early Terminating Consulting Employee within 180 days of the Closing Date, then the provisions of Section 2.05(d)(i) above will apply as if such Early Terminating Consulting Employee had been an Unhired Consulting Employee, except that, for such purposes, the amount of such Early Terminating Consulting Employee’s Average Annual Revenue shall be prorated to a reduced amount equal to the product obtained by multiplying (a) such Early Terminating Consulting Employee’s Average Annual Revenue by (b) a fraction (1) whose numerator is the number of days on which such Early Terminating Consulting Employee was not employed by or serving as a consultant to Purchaser during the one (1) year period immediately following the Closing Date and (2) whose denominator is 365 days. For purposes of this paragraph, a WebSphere Business Consulting Employee will be deemed to have terminated his or her employment with Purchaser for “good reason” if: (i) Purchaser has reduced the base pay or any other component of such WebSphere Business Consulting Employee’s compensation from that which such WebSphere Business Consulting Employee was being paid by Seller as of immediately prior to the Closing Date; (ii) Purchaser has required such WebSphere Business Consulting Employee to relocate his or her principal worksite by more than twenty (20) miles from his or her current principal worksite with Seller; (iii) Purchaser has reduced or diminished such WebSphere Business Consulting Employee’s title or responsibilities; or (iv) Purchaser has required such WebSphere Business Consulting Employee to serve as a consultant or independent contractor to Purchaser, rather than as an employee.
Sample 1
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Related to Early Terminating Consulting Employees

  • Early Termination of Employment In addition to any Termination of Employment of Executive as a Retired Early Employee under Paragraph 6 of this Agreement, a Termination of Employment of Executive may occur prior to the normal expiration of the Term under the circumstances and with the consequences set forth below.

  • Severance Compensation upon Termination of Employment If the Company shall terminate the Executive’s employment other than pursuant to Section 5(a), (b) or (c) or if the Executive shall terminate his employment for Good Reason, then the Company shall pay to the Executive as severance pay in a lump sum, in cash, on the fifth day following the Date of Termination, an amount equal to three (3) times the average of the aggregate annual compensation paid to the Executive during the three (3) fiscal years of the Company immediately preceding the Change of Control by the Company subject to United States income taxes (or, such fewer number of fiscal years if the Executive has not been employed by the Company during each of the preceding three (3) fiscal years).

  • Employment Termination This Agreement and the employment of the Executive shall terminate upon the occurrence of any of the following:

  • 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.

  • Consulting Compensation In consideration for the services to be provided by the Consultant pursuant to Section 1, above, the Consultant shall be compensated as follows:

  • Termination of Employment; Change in Control (i) For purposes of the grant hereunder, any transfer of employment by the Optionee among the Corporation and the Subsidiaries shall not be considered a termination of employment. If the Optionee's employment with the Corporation is terminated for Cause (as defined in the last Section hereof), the Option, whether or not then vested, shall be automatically terminated as of the date of such termination of employment. If the Optionee's employment with the Corporation shall terminate other than by reason of Retirement (as defined in the last Section hereof), Disability (as defined in the last Section hereof), death or Cause, the Option (to the extent then vested) may be exercised at any time within ninety (90) days after such termination (but not beyond the Term of the Option). The Option, to the extent not then vested, shall immediately expire upon such termination. If the Optionee dies or becomes Disabled (A) while employed by the Corporation or (B) within 90 days after the termination of his or her employment other than for Cause or Retirement, the Option (to the extent then vested) may be exercised at any time within one year after the Optionee's death or Disability (but not beyond the Term of the Option). The Option, to the extent not then vested, shall immediately expire upon such death or disability. If the Optionee's employment terminates by reason of Retirement, the Option shall (A) become fully and immediately vested and exercisable and (B) remain exercisable for three years from the date of such Retirement (but not beyond the Term of the Option).

  • 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:

  • Employment Termination Date The Employment Termination Date shall be as follows: (i) if the Executive’s employment is terminated by Executive’s death, the date of Executive’s death; (ii) if the Executive’s employment is terminated pursuant to any other provision of this Agreement, the date specified in the Notice of Termination (the “Employment Termination Date”).

  • Termination of Employment Severance Your immediate supervisor or the Company's Board of Directors may terminate your employment, with or without cause, at any time by giving you written notice of your termination, such termination of employment to be effective on the date specified in the notice. You also may terminate your employment with the Company at any time. The effective date of termination (the "Effective Date") shall be the last day of your employment with the Company, as specified in a notice by you, or if you are terminated by the Company, the date that is specified by the Company in its notice to you. The following subsections set forth your rights to severance in the event of the termination of your employment in certain circumstances by either the Company or you. Section 5 also sets forth certain restrictions on your activities if your employment with the Company is terminated, whether by the Company or you. That section shall survive any termination of this Agreement or your employment with the Company.

  • Termination of Employment with Severance Benefits (a) The Executive shall be entitled to the severance benefits described in section 9(b) in the event that:

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