Effects of Termination of Employment Sample Clauses

Effects of Termination of Employment. Except as otherwise provided herein or under any benefit plan or other agreement between the Company and the Executive, termination of Executive's employment under this Agreement shall not affect any right or obligation of either party hereto which is accrued or vested prior to or upon such termination or the rights and obligations set forth herein.
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Effects of Termination of Employment. (a) Upon termination of Executive's employment with the Company for any reason whatsoever, Employer shall pay to Executive (or in case of Executive's death, to his estate), within thirty (30) days of the effective date of such termination, all salary and expense reimbursements due to Executive through the date of such termination, and Executive shall be entitled to such benefits as are available pursuant to the terms of any benefit or similar plans, policies or programs in which Executive was participating at the time of such termination pursuant to Section 6 of this Agreement. In addition, upon termination of Executive's employment with the Company for death or permanent disability, in lieu of any further salary or bonus payments as severance to Executive for periods subsequent to such termination and in lieu of any other severance otherwise payable to Executive, the Company will pay to Executive (or to his estate, as applicable), within thirty (30) days of such termination, a lump sum severance payment, in cash equal to one (1) year of Executive's Base Salary as in effect immediately prior to such termination of Executive's employment. Also, if the Company terminates the Executive's employment for any reason other than those set forth in Sections 2(a), (b) or (c), or if Executive terminates Executive's Employment under Section 2(d), the Company shall continue throughout the full Term of this Agreement to pay Executive's salary pursuant to Section 4 and to provide Executive's benefits pursuant to Section 6 (and, if the Company pays Executive's salary and provides Executive's benefits for the full Term of this Agreement, Executive shall be subject to the covenants contained in Section 9 through the full term of this Agreement). (b) Notwithstanding any termination of this Agreement or Executive's employment hereunder, this Section 7 and Sections 10 and 11 of this Agreement, and the rights and obligations created therein, shall survive without limitation.
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Effects of Termination of Employment. If prior to the close of the Performance Period the employment of a Participant who received an award of Performance Shares or a grant of Performance Options is voluntarily terminated with the consent of the Company or a Subsidiary or the Participant retires, or if the Participant dies during employment, (a) the Committee may in its absolute discretion determine to pay all or any part of the Performance Share award based upon the extent to which the Committee determines the Performance Target or Minimum Target has been achieved as of the date of termination of employment, retirement or death, the period of time remaining until the close of the Performance Period and/or such other factors as the Committee may deem relevant; and (b) the exercisability of the Performance Option shall be governed by the applicable provisions of Article VI, unless the Committee, in its absolute discretion, determines otherwise. If the Committee in its discretion determines that all or any part of the Performance Share award shall be paid, payment shall be made to the Participant or his or her estate as promptly as practicable following such determination and may be made in cash, in shares of Common Stock, or partly in cash and partly in shares of Common Stock, as determined by the Committee at the time of the payment. For this purpose, Performance Shares expressed in dollars shall be converted to shares, and Performance Shares expressed in shares shall be converted to dollars, based on the Fair Market Value of the Common Stock as of the date the amount payable is determined by the Committee. If, prior to the close of a Performance Period, a Termination of Employment of a Participant who received an award of Performance Shares occurs for any reason other than voluntary termination with the consent of the Company or a Subsidiary, Retirement or death, the Performance Shares of the Participant shall be deemed not to have been earned, and no portion of such Performance Shares may be paid. Whether Termination of Employment is a voluntary termination with the consent of the Company or a Subsidiary shall be determined, in its discretion, by the Committee. Any determination by the Committee on any matter with respect to Performance Shares shall be final and binding on both the Company and the awardee.
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Effects of Termination of Employment. All rights to the Pre- ------------------------------------ Retirement Survivor Benefit provided for in paragraph 1(a) or 1(b) above shall cease if and when a participating employee's employment by the Company or one of its subsidiaries terminates prior to age 65 for any reason other than death or disability as set forth above.
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Effects of Termination of Employment a. If, before this Award vests, your employment with the Company or a subsidiary terminates for any reason other than your death or Disability, your Restricted Stock Unit Award will be forfeited on your termination date. b. If prior to [insert Service Date], your employment with the Company or any subsidiary terminates on account of your Disability, the Restricted Stock Unit Award will vest immediately if the performance condition has been met at the time of your termination or on such later date (on or before [insert last day of Performance Period]) that the performance condition is met. Notwithstanding the foregoing, in order to meet the requirements of the favorable tax and social security regime in France, if the performance condition is satisfied and your employment terminates by reason of your Disability prior to [insert French holding period date], the Award will vest on that date. c. If between [insert Service Date and last day of Performance Period], your employment terminates on account of your Disability, the Restricted Stock Unit Award will vest on the date the performance condition is met, as long as that occurs on or before [insert last day of Performance Period]. d. If your employment with the Company or any subsidiary terminates at any time by reason of your death, one hundred percent (100%) of this Award shall become immediately and fully vested as of the date of your death. The Company shall issue the underlying shares of Stock to your heirs upon their request for a period of six months following the date of your death.
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Effects of Termination of Employment. (a) Either the Board or the Executive may terminate the Executive's employment at any time and for any reason during the Employment Period. Upon termination or expiration of this Agreement, Executive shall receive his Base Salary up through the date of termination and all accrued and/or vested benefits, compensation or awards of any kind to which he is entitled under the applicable plans and award agreements and as provided in this Agreement.
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Effects of Termination of Employment a) If a Optionee's employment with the Company is involuntarily terminated by the Company for any reason or is terminated by the Optionee for any reason, this Option shall terminate with respect to any unvested portion of the Option upon the date of such termination of employment. b) In connection with any termination of Optionee's employment contemplated in this Section 4(a), for any reason other than death or total and permanent disability (as defined in Section 4.2(c) of the Plan), Optionee's right to exercise the vested portion of the Option subsequent to termination of employment shall terminate ninety (90) days after the date of termination of Optionee's employment by the Company. In connection with any termination of Optionee's employment due to the death or total and permanent disability (as defined in Section 4.2(c) of the Plan) of Optionee, Optionee's right to exercise the vested portion of the Option subsequent to such termination of employment shall terminate twelve (12) months after the date of death or termination of employment by reason of such disability, as the case may be.
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Effects of Termination of Employment 
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Related to Effects of Termination of Employment

  • Effect of Termination of Employment (a) Upon the effective date of termination of the Employee's employment pursuant to Section 6, Section 7(a) or Section 7(c) hereof, neither the Employee nor the Employee's beneficiaries or estate shall have any further rights under this Agreement or any claims against the Corporation arising out of this Agreement, except the right to receive, within 30 days of the Termination Date: (i) the unpaid portion of the Base Salary provided for in Section 5(a), computed on a pro rata basis to the Termination Date; (ii) reimbursement for any expenses for which the Employee shall not have theretofore been reimbursed, as provided in Section 5(d); and (iii) the unpaid portion of any amounts earned by the Employee prior to the Termination Date pursuant to any Benefit Arrangement; provided, however, unless specifically provided otherwise in this Section 8, the Employee shall not be entitled to receive any benefits under a Benefit Arrangement that have accrued during a fiscal year if the terms of such Benefit Arrangement require that the beneficiary be employed by the Corporation as of the end of such fiscal year. (b) Upon the termination of the Employee's employment pursuant to Section 7(b), neither the Employee nor the Employee's beneficiaries or estate shall have any further rights under this Agreement or any claims against the Corporation arising out of this Agreement, except the right to receive: (i) the unpaid portion of the Base Salary, computed on a pro rata basis, for the period from the Commencement Date until the first anniversary of the Termination Date, payable in such installments as the Base Salary was paid prior to the Termination Date; and (ii) the payments, if any, referred to in Sections 8(a)(ii) and (iii). (c) The Employee's obligations under Sections 9, 10 and 11 of this Agreement, and the Corporation's obligations under this Section 8, shall survive the termination of this Agreement and the termination of the Employee's employment hereunder.

  • Consequences of Termination of Employment 5.1 Death ----- In the event of the death of the Employee during the term of employment hereunder, the estate or other legal representatives of the Employee shall be entitled to continuation of the salary provided for in Section 4.1 for a period of 6 months from the date of the Employee's death, at the rate in effect at such date.

  • TERMINATION OF EMPLOYMENT; EFFECT OF TERMINATION (a) Executive’s employment hereunder may be terminated by the Company at any time: (i) upon the determination that Executive’s performance of his duties has not been fully satisfactory for any reason which would not constitute justifiable cause (as hereinafter defined) or for other business reasons necessitating termination which do not constitute justifiable cause, in either case upon thirty (30) days’ prior written notice to Executive; or (ii) upon the determination that there is justifiable cause (as hereinafter defined) for such termination. (b) Executive’s employment shall terminate upon: (i) the death of Executive; (ii) the “total disability” of Executive (as hereinafter defined in Subsection (c) herein) pursuant to Subsection (h) hereof; or (iii) Executive’s resignation of employment. (c) For the purposes of this Agreement, the term “total disability” shall mean Executive is physically or mentally incapacitated so as to render Executive incapable of performing the essentials of Executive’s job, even with reasonable accommodation, as reasonably determined by the Company, which determination shall be final and binding. (d) For the purposes hereof, the term “justifiable cause” shall mean: any failure or refusal to perform any of the duties pursuant to this Agreement or any breach of this Agreement by the Executive; Executive’s breach of any material written policies, rules or regulations which have been adopted by the Company; Executive’s repeated failure to perform his duties in a satisfactory manner; Executive’s performance of any act or his failure to act, as to which if Executive were prosecuted and convicted, a crime or offense involving money or property of the Company or its subsidiaries or affiliates, or a crime or offense constituting a felony in the jurisdiction involved, would have occurred; any unauthorized disclosure by Executive to any person, firm or corporation of any confidential information or trade secret of the Company or any of its subsidiaries or affiliates; any attempt by Executive to secure any personal profit in connection with the business of the Company or any of its subsidiaries and affiliates; or the engaging by Executive in any business other than the business of the Company and its subsidiaries and affiliates which interferes with the performance of his duties hereunder. Upon termination of Executive’s employment for justifiable cause, this Agreement shall terminate immediately and Executive shall not be entitled to any amounts or benefits hereunder other than such portion of Executive’s annual base salary and reimbursement of expenses pursuant to Section 5 hereof as have been accrued through the date of his termination of employment.

  • Benefits Upon Termination of Employment If the Executive is entitled to benefits pursuant to this Section 2, the Company agrees to pay or provide to the Executive as severance payment, the following: (i) A single lump sum payment, payable in cash within five days of the Termination Date (or if later, the Change of Control Date), equal to the sum of: (A) the accrued portion of any of the Executive's unpaid base salary and vacation through the Termination Date and any unpaid portion of the Executive's bonus for the prior fiscal year; plus (B) a portion of the Executive's bonus for the fiscal year in progress, prorated based upon the number of days elapsed since the commencement of the fiscal year and calculated assuming that 100% of the target under the bonus plan is achieved; plus (C) an amount equal to the Executive's Base Compensation times the Compensation Multiplier. (ii) Continuation, on the same basis as if the Executive continued to be employed by the Company, of Benefits for the Benefit Period commencing on the Termination Date. The Company's obligation hereunder with respect to the foregoing Benefits shall be limited to the extent that the Executive obtains any such benefits pursuant to a subsequent employer's benefit plans, in which case the Company may reduce the coverage of any Benefits it is required to provide the Executive hereunder as long as the aggregate coverages and benefits of the combined benefit plans is no less favorable to the Executive than the Benefits required to be provided hereunder. (iii) Outplacement services to be provided by an outplacement organization of national repute, which shall include the provision of office space and equipment (including telephone and personal computer) but in no event shall the Company be required to provide such services for a value exceeding 17% of the Executive's Base Compensation. (iv) Accelerated vesting of all outstanding stock options and of all previously granted restricted stock awards. (v) Target amounts that would have accrued under the MagneTek Shareholder Return Plan had the applicable period for each such target elapsed, calculated and paid, PRO RATA, for the actual period elapsed.

  • Compensation Following Termination of Employment In the event that Executive's employment hereunder is terminated, Executive shall be entitled to the following compensation and benefits upon such termination:

  • Qualifying Termination of Employment A “Qualifying Termination of Employment” shall mean a termination of Executive’s employment during the Protected Period either (a) by the Company other than for Cause or (b) by Executive for a Good Reason. The Executive’s death or Disability during the Protected Period shall not constitute a Qualifying Termination of Employment.

  • Other Termination of Employment In the event of your voluntary termination (other than a Retirement subject to Section 2(c) or a Qualifying Termination subject to Section 2(f)), or termination by the Company or a subsidiary of the Company for misconduct or other conduct deemed by the Company to be detrimental to the interests of the Company or a subsidiary of the Company, you shall forfeit all unvested RSUs on the date of termination.

  • Notice of Termination of Employment 2601 Employment may be terminated voluntarily by a nurse or for just cause by the Employer subject to the following periods of written notice, exclusive of any vacation due: (a) for classifications other than Nurse IV or Nurse V -- four (4) weeks, and (b) for Nurse IV and Nurse V classifications -- six (6) weeks. 2602 Employment may be terminated with less notice or without notice: (a) by mutual agreement between the nurse and the Employer for special circumstances, or (b) during the probationary period of a newly hired nurse subject to Article 31 herein, or (c) in the event a nurse is dismissed for sufficient cause to justify lesser or no notice. 2603 The Employer may give equivalent basic pay in lieu of notice. 2604 Subject to other provisions contained in this Agreement relative to termination of employment, each nurse shall, unless otherwise mutually agreed, upon termination of her/his employment and within five (5) office working days following the completion of her/his last working shift, receive pay in lieu of unused vacation, and all salary earned to date of termination.

  • 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).

  • 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:

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