Must Be Employed Clause Samples
The "Must Be Employed" clause requires that a person must be actively employed at a certain time to qualify for a specific benefit, right, or payment under an agreement. For example, this clause might stipulate that an employee must still be working for the company on the date a bonus is paid or when stock options vest. Its core function is to ensure that only current employees receive certain benefits, thereby incentivizing continued employment and protecting the employer from having to provide benefits to former employees.
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Must Be Employed. In order for Employee to earn the incentives listed in this Section, Employee must be employed by Employer in the same capacity as listed in Section 2.1 above, at the time the incentive is earned. Alternatively, Employee is entitled to the above compensation if Employee is employed by Employer in a different position, if approved by the Employer, at Employer’s sole discretion. If Employee is terminated then any unearned incentives will expire immediately.