Nature of Separation Sample Clauses

Nature of Separation. The Parties agree that the end of the employment relationship between the Parties shall be treated as a voluntary retirement in the personnel records of First Charter.
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Nature of Separation. You agree that You are resigning from the Company -------------------- and that if asked about your separation from the Company, You and any authorized Company representative will respond that You resigned for reasons and on terms mutually acceptable to You and the Company.
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Nature of Separation. The Company agrees that it will reflect Executive's transition and final separation as resulting from a voluntary resignation in the personnel records of the Company for purposes of employment references, any subsequent job search or otherwise.
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Nature of Separation. The Parties agree that the end of the employment relationship between the Parties shall be treated as a voluntary resignation by Executive in the personnel records of the Company.
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Nature of Separation. The Parties agree that the termination of the employment relationship between the Parties shall be treated as a separation by mutual agreement of the Parties. 3.
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Nature of Separation. The Parties agree that for purposes of Executive's participation in First Charter's Omnibus Stock Option Award Plan and First Charter's Comprehensive Stock Plan, including Executive's Performance Shares Award Agreement under First Charter's Omnibus Stock Option Award Plan, Executive's transition and the end of the employment relationship between the Parties shall be treated as an involuntary separation without "Cause", as defined in such plans. However, the Parties further agree that, at Executive's election, Executive's transition and the end of the employment relationship between the Parties shall be treated as a voluntary resignation in the personnel records of First Charter for purposes of employment references and any subsequent job search by Executive.
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Nature of Separation. The Parties agree that Executive's transition and the end of the employment relationship between the Parties shall be generally treated as a voluntary resignation in the personnel records of First Charter for purposes of employment references and any subsequent job search by Executive. However, First Charter agrees that following the Effective Date of this Agreement (as defined in provision 15 below), and provided all conditions of this Agreement are and continue to be met by Executive, for purposes of Executive's participation in the First Charter Corporation 2000 Omnibus Stock Option and Award Plan, including Executive's Performance Shares Award Agreement(s) under the same, Executive's transition and the end of the employment relationship between the Parties shall be treated as an involuntary separation without "Cause" as of August 17, 2007, as defined in such plan and/or agreement(s). In addition, First Charter agrees that following the Effective Date of this Agreement (as defined in provision 15 below), and provided all conditions of this Agreement are and continue to be met by Executive, First Charter will work directly with Executive to draft an internal transition announcement and job reference summary regarding Executive's prior employment with and separation from First Charter. Executive agrees that he will direct all future employment reference requests or similar inquiries regarding his prior employment with First Charter to First Charter's Chief Executive Officer or Executive Vice- President, Human Resources. First Charter, in turn, agrees that provided Executive appropriately channels such reference requests as described above and all conditions of this Agreement are and continue to be met by Executive, such verbal references by First Charter's Chief Executive Officer and/or 2 Executive Vice-President, Human Resources generally shall be consistent with the information contained in such transition announcement and job reference summary.
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Related to Nature of Separation

  • Nature of Services Executive shall diligently perform such duties and assume such responsibilities as shall from time to time be specified by the Company.

  • The Separation At or prior to the Effective Time, to the extent not already completed and subject to the terms of the Ancillary Agreements:

  • Nature of Scheme The Company specifically intends that the Plan will not be an occupational retirement scheme for purposes of the Occupational Retirement Schemes Ordinance. HUNGARY

  • Transitional Nature of Services The Parties acknowledge the transitional nature of the Services and agree to cooperate in good faith and to use commercially reasonable efforts to effectuate a smooth transition of the Services from the Provider to the Recipient (or its designee).

  • Nature of Employment Executive’s employment with the Company shall be at-will. Both Executive and the Company shall have the right to terminate the employment relationship at any time, with or without cause, and with or without advance notice.

  • Separation The Employment Period will continue until (i) Executive's death, Disability or resignation from employment with the Company, Employer and their respective Subsidiaries or (ii) the Company, Employer and their respective Subsidiaries decide to terminate Executive's employment with or without Cause. If (A) Executive's employment is terminated without Cause pursuant to clause (ii) above or (B) Executive resigns from employment with the Company, Employer or any of their respective Subsidiaries for Good Reason, then during the period commencing on the date of termination of the Employment Period and ending on the first anniversary of the date of termination (the "SEVERANCE PERIOD"), Employer shall pay to Executive, in equal installments on the Employer's regular salary payment dates, an aggregate amount equal to (I) his Annual Base Salary, plus (II) an amount equal to the annual bonus, if any, paid or payable to Executive by Employer for the last fiscal year ended prior to the date of termination. In addition, if Executive is entitled on the date of termination to coverage under the medical and prescription portions of the Welfare Plans, such coverage shall continue for Executive and Executive's covered dependents for a period ending on the first anniversary of the date of termination at the active employee cost payable by Executive with respect to those costs paid by Executive prior to the date of termination; PROVIDED, that this coverage will count towards the depletion of any continued health care coverage rights that Executive and Executive's dependents may have pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ("COBRA"); PROVIDED further, that Executive's or Executive's covered dependents' rights to continued health care coverage pursuant to this SECTION 8(c) shall terminate at the time Executive or Executive's covered dependents become covered, as described in COBRA, under another group health plan, and shall also terminate as of the date Employer ceases to provide coverage to its senior executives generally under any such Welfare Plan. Notwithstanding the foregoing, (I) Executive shall not be entitled to receive any payments or benefits pursuant to this SECTION 8(c) unless Executive has executed and delivered to Employer a general release in form and substance satisfactory to Employer and (II) Executive shall be entitled to receive such payments and benefits only so long as Executive has not breached the provisions of SECTIONS 9 or 10 hereof. The release described in the foregoing sentence shall not require Executive to release any claims for any vested employee benefits, workers compensation benefits covered by insurance or self-insurance, claims to indemnification to which Executive may be entitled under the Company's or its Subsidiaries' certificate(s) of incorporation, by-laws or under any of the Company's or its Subsidiaries' directors or officers insurance policy(ies) or applicable law, or equity claims to contribution from the Company or its Subsidiaries or any other Person to which Executive is entitled as a matter of law in respect of any claim made against Executive for an alleged act or omission in Executive's official capacity and within the scope of Executive's duties as an officer, director or employee of the Company or its Subsidiaries. Not later than eighteen (18) months following the termination of Executive's employment, the Company and its Subsidiaries for which the Executive has acted in the capacity of a senior manager, shall sign and deliver to Executive a release of claims that the Company or its Subsidiaries has against Executive; PROVIDED THAT, such release shall not release any claims that the Company or its Subsidiaries commenced prior to the date of the release(s), any claims relating to matters actively concealed by Executive, any claims to contribution from Executive to which the Company or its Subsidiaries are entitled as a matter of law or any claims arising out of mistaken indemnification by the Company or any of its Subsidiaries. Except as otherwise provided in this SECTION 8(c) or in the Employer's employee benefit plans or as otherwise required by applicable law, Executive shall not be entitled to any other salary, compensation or benefits after termination of Executive's employment with Employer.

  • Transitional Nature of Services; Changes The Parties acknowledge the transitional nature of the Services and agree that notwithstanding anything to the contrary herein, each Service Provider may make changes from time-to-time in the manner of performing the Services if such Service Provider is making similar changes in performing similar services for itself and/or its Affiliates; provided that Service Provider must provide Service Recipient with at least thirty (30) days prior written notice of such changes.

  • Nature of Agreement You understand and agree that this letter agreement is a severance agreement and does not constitute an admission of liability or wrongdoing on the part of the Company.

  • Structure of Agreement The Trust is entering into this Agreement solely on behalf of the Fund. Without limiting the generality of the foregoing: (a) no breach of any term of this Agreement shall create a right or obligation with respect to any series of the Trust other than the Fund; (b) under no circumstances shall the Advisor have the right to set off claims relating to the Fund by applying property of any other series of the Trust; and (c) the business and contractual relationships created by this Agreement, consideration for entering into this Agreement, and the consequences of such relationship and consideration relate solely to the Trust and the Fund.

  • Conditional Nature of Severance Payments The Executive agrees and acknowledges that the Executive’s right to receive the severance payments set forth in Section 3.3 (to the extent the Executive is otherwise entitled to such payments) shall be conditioned upon compliance with the restrictions in this Section 5 and of Article III of the Technology and Intellectual Property Purchase Agreement to which Executive is a party.

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