Executive’s Transition and Separation Date Clause Samples

Executive’s Transition and Separation Date a. Executive’s last day of employment with the Company will be December 28, 2024 (the “Separation Date”). As of the Transition Date, Executive ceased to be the Company’s Group President, Agriculture and Chief Strategy Officer and resigned from every other office, directorship or other position held with the Company or any of its affiliates, except remaining an employee of the Company. Executive shall execute resignation letters or other documents reasonably requested by the Company to memorialize the foregoing. From the Transition Date through the Separation Date (inclusive of such dates, the “Transition Period”), Executive will remain an employee of the Company in an advisory position, providing transition services to the Company as reasonably requested by the Company. Executive will not be required to report to the office during the Transition Period. Any services requested by the Company shall be conducted in a professional manner and in accordance with the Company’s Code of Conduct. Executive will not accept other employment or engage in any business activity that presents a conflict of interest during the Transition Period. It is expressly acknowledged and agreed that during the Transition Period, Executive shall continue to be an employee at will, whose employment may be terminated by either party at any time and for any reason, or without stated reason, subject to the remaining provisions of this Agreement. b. If, during the Transition Period, Executive resigns his employment or the Company terminates Executive’s employment based on its good faith determination that Executive has (i) engaged in an act that is materially injurious to the Company (ii) materially breached this Agreement or the Company’s Code of Conduct or (iii) accepted employment or otherwise engaged in any business activities that conflicts with Executive’s obligations during the Transition Period or is in direct competition the Company (which are the only reasons that the Company can terminate Executive’s employment prior to the Separation Date), Executive will forfeit the compensation, benefits and vesting of equity provided under Section 2(a) for the remainder of the Transition Period, as well as the right to receive the Separation Benefits provided under Section 2(b).