Leavers Sample Clauses

Leavers. If a Beneficial Owner leaves employment with the Atrium Group and/or otherwise ceases to be an employee or officer of or consultant to a member of the Atrium Group for whatever reason, such Beneficial Owner will become a “Leaver” in relation to any Common Shares (or other shares of the Company which are issued pursuant to a scheme approved by the Board for the return of income or capital to shareholders) held by the Atrium Nominee (as Nominee) on behalf of such Beneficial Owner. If the Company elects to exercise its rights under the Leaver Sale Provisions (a “Leaver Sale”), then the Atrium Nominee shall be permitted hereunder to Transfer any Common Shares held by the Atrium Nominee on behalf of such Leaver in accordance with the terms of the Leaver Sale Provisions.

Leavers will have the same formula applied pro-rata to reflect the number of weeks completed during the Reference Period in accordance with contractual leave entitlements at the time of leaving. 6.2.1. Those employees who left the Company between August 2016 and up to the effective date of this agreement will be paid any HPS owing should they make themselves known to the Company before 31 December 2018. 6.2.2. Those employees who leave the Company after the effective date of this agreement will be paid outstanding HPS owed, in March 2019 and thereafter in accordance with any periodic payment arrangements that may be agreed between the parties (see 7.4) 6.2.3. The Company will amend qualifying employees’ termination letters to detail how they will be paid any HPS owed and confirm that they will be paid HPS without needing to contact the Company, unless their bank account details have changed.

Leavers. 16.1 Within the period of six months commencing on the relevant Effective Termination Date the Board (with Investor Majority Consent) may direct the Company to serve a notice on a Leaver notifying them that they are, with immediate effect, deemed to have served one or more Transfer Notices in respect of such number of A Ordinary Shares as is specified in the notice. The provisions of Article 12 shall apply to any such Transfer Notice save as provided for in this Article 16. 16.2 For the purposes of Article 16: (a) the Sale Shares shall comprise the above-mentioned Shares; (b) no proposed transferee shall be specified in the Transfer Notice; (c) the Transfer Price at which the Shares are transferred shall be determined by Article 16.3; and (d) there shall be no Minimum Transfer Condition. 16.3 The Transfer Price shall be: (a) in the case of a Good Leaver, the nominal value of the relevant Shares or, if higher, the Market Value of the relevant Shares (subject to the Board deciding otherwise); (b) in the case of a Bad Leaver, the nominal value of the relevant Shares (subject to the Board deciding otherwise). 16.4 The Sale Shares shall be offered in the following order of priority: (a) first to the Company (subject always to the provisions of the Act); and (b) second, to any person(s) approved by the Board (with Investor Majority Consent). 16.5 If any shareholder does not execute transfer(s) in respect of shares registered in their name in accordance with this Article 16, the defaulting shareholder will be deemed to have irrevocably appointed any person nominated for the purpose by the Board to be their agent to execute, complete and deliver a transfer of those shares in favour of the proposed purchaser against receipt by the Company of the consideration due for the relevant shares. The Company's receipt of the consideration due will be a good discharge to the purchaser, who will not be bound to see its application. The Company will hold the consideration on trust for the relevant shareholder(s) without obligation to pay interest. Subject to stamping, the directors will without delay register the transfer(s), after which the validity of such proceedings will not be questioned by any person. Each shareholder will surrender his share certificate(s) (or, where appropriate provide an indemnity in respect of it in a form satisfactory to the directors), although it will be no impediment to registration of shares under this Article that no share certificate has been ...

Leavers. 10.1 A Participant who ceases to be in Relevant Employment must remove his Plan Shares within 90 days of such cessation of employment. If the Trustees do not receive sufficient notice from the Participant for the sale or transfer of Plan Shares within 90 days, then the Trustee shall have the discretion to dispose of those shares to meet any PAYE or NIC liability on behalf of the Participant.

Leavers. 3.5.1 Holders of Outstanding Awards who have ceased to be employees of Crestchic as at the date of this Agreement, but who have been permitted to retain their Outstanding Awards until a later date in accordance with the rules of the applicable Crestchic Share Plan will be subject to the terms of this Schedule in respect of those Outstanding Awards (as applicable) and entitled to participate in the Proposals accordingly. 3.5.2 Holders of Outstanding Awards who cease to be employees of Crestchic (or who give or receive notice of termination of their employment) between the date of this Agreement and the Effective Date ("New Leavers") shall, to the extent their Awards have not otherwise lapsed in accordance with the Proposals, be treated in accordance with the leaver provisions contained in the rules of the applicable Crestchic Share Plan and any applicable Crestchic policies and normal practice. For the avoidance of doubt, other than in the case of death, no New Leaver shall be permitted to retain any portion of their Outstanding Awards following the relevant lapse date for those Awards as set out in the Proposals. Part III Employee Remuneration and Associated Matters 1. ORDINARY COURSE OF BUSINESS ARRANGEMENTS Aggreko acknowledges that prior to the Effective Date, Crestchic will carry out annual (or other periodic) pay reviews, appraisals and promotion rounds in the ordinary course of business and consistent with past practice. 2. ANNUAL BONUS 2.1 Crestchic and Aggreko agree that: 2.1.1 bonus determinations for any Crestchic financial year completed before the Effective Date will be undertaken by Crestchic and determined and paid by Crestchic in accordance with the terms of the applicable bonuses and consistent with normal practice, with payment being made on or before the normal bonus payment date; and 2.1.2 for the Crestchic financial year in which the Effective Date occurs bonus determinations for the financial year in which the Effective Date occurs will be undertaken and determined by Crestchic on a basis which is consistent with past practice, with payment being made on or before the normal bonus payment date.

Leavers. A notice period of one term must be given. If a child is to leave before the notice period, the full termly amount will be payable.

Leavers. Unless the Participant provides the requisite funds to the Company or the Trustees to cover any income tax and employee's NICs liability that may arise due to his Shares ceasing to be subject to the Plan, the Trustees shall have the discretion to dispose of sufficient of the Participant's Shares to meet such liabilities on behalf of the Participant.

Leavers. NUMBER OF SHARES

Leavers. A Participant who ceases to be in Relevant Employment must remove his Shares from the trust. Unless the Participant provides the requisite funds to the Company or the Trustees to cover any income tax and employee's NICs liability that may arise due to his Shares ceasing to be subject to the Plan, the Trustees shall have the discretion to dispose of sufficient of the Participant's Shares to meet such liabilities on behalf of the Participant.

Leavers. All Participants who cease to be in Relevant Employment will receive from the Trustee a communication asking for their instructions as to whether the Shares are to be sold or transferred. If instructions are not received within 30 days of a Participant’s Shares ceasing to be subject to the Plan the Trustee may sell all his Shares and shall pay the proceeds of sale less any income tax, employee’s national insurance and reasonable selling costs into the bank account of the Participant who has ceased to be in Relevant Employment.