ON TERMINATION OF EMPLOYMENT Sample Clauses

ON TERMINATION OF EMPLOYMENT. Upon the termination of your employment by the Company by reason other than by your death or Retirement, you will be entitled to exercise only the percentage of this Option which has vested as of your termination date and the following restrictions shall apply: (a) If your employment by the Company is terminated by the Company for any reason other than by "Cause" (as defined below), by reason of "Cause" (as defined below), or if you resign from your employment with the Company, no portion of this Option (regardless of vesting) shall be exercisable after such termination date. (b) For the purposes of the Agreement, "Cause" shall include (i) engaging in gross misconduct, fraud, dishonesty, gross negligence or insubordination, (ii) willful misconduct, (iii) an indictment (or similar criminal proceeding) being brought against you for the alleged commission of felony, (iv) becoming subject to a judgment, order, consent decree, consent order, ruling or finding in connection with any federal or state government proceeding, including without limitation, an enforcement, cease and desist, inquiry or other proceeding before the Securities and Exchange Commission, in which you are sanctioned (whether or not denying or admitting the underlying violation or liability) for any violation of the securities laws and/or enjoined from any future violation of the securities laws; or (v) "cause" as defined in your employment agreement with the Company, if applicable.
Sample 1
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ON TERMINATION OF EMPLOYMENT. The employer shall pay the employee 8% (or 10% if eligible for 5 weeks annual leave) of gross earnings in the period since the employee's last anniversary of commencement, less any pay received during leave taken in advance of entitlement.
Sample 1
ON TERMINATION OF EMPLOYMENT. Unless otherwise approved by the Committee either at the time of grant or at some later date in accordance with Code Sections 409A and 422, upon the termination of the Participant’s employment or Service with the Company and its Subsidiaries, all outstanding Awards shall be cancelled and no longer exercisable on the date of the termination. To the extent that the Committee approves extended vesting or exercise provisions, such provisions need not be uniform among all Awards issued pursuant to the Plan, and may reflect distinctions based on the reasons for such termination.
Sample 1
ON TERMINATION OF EMPLOYMENT. (a) (i) Pay cheques, record of employment, vacation pay and General Holiday pay, shall be given to the Employee at the time of layoff by the Employer. With Union approval the Employer will arrange for delivery, by express post or other traceable means, the above to the Employee or to the Employee's mailing address within Twenty-Four (24) hours of layoff. In the case where an Employer has not established a pay office on the jobsite, payment may be mailed by express post within the next business day.
Sample 1
ON TERMINATION OF EMPLOYMENT. The Company is authorised to deduct the following from any monies owing to the Employee upon termination of employment (a) any debts that the employee owes the company; and (b) any un-accrued leave taken in advance by the employee. This clause does not apply to negative leave balances in redundancy situations above 14 days. (c) If the monies owing to the Employee on termination of employment are insufficient to repay to the Company the debts and leave in advance the Employee must make arrangements within 7 days of termination as to how and when the employee will repay the full balance. The following amounts are "debts" that may be owed by an Employee to the Company having arisen out of the employment relationship: - where the Company has loaned an employee money that the employee has not repaid; - where the Company has provided an advance of salary that has not been reconciled bytime worked by the employee; - where the Company has paid or reimbursed an employee's personal training or education costs at the written request of the employee in recognition of the benefit of such training for the employee's skills and competence and qualifications in the maritime seagoing industry and the Employee has: acknowledged the debt and authorised the deduction in writing at the time ofrequesting the Company to pay or reimburse the costs of training; and has not remained in employment with the Company for the period(s} specified inclause 2.11.3 where an employee has caused damage or loss to Company property through criminal act and where the Company has incurred the cost of repair; Any other amount that has been advanced to the Employee by the Company for the benefit of the Employee
Sample 1
ON TERMINATION OF EMPLOYMENT. Upon the termination of your employment with the Company for any reason other than your death, you will be entitled only to the percentage of the Restricted Stock Units which had vested under this Agreement as of your termination date except as may be otherwise set forth in your written employment agreement executed by you and the Company, if applicable.
Sample 1

Related to ON 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.

  • 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).

  • Involuntary Termination of Employment If the Executive does not exercise his withdrawal rights pursuant to Subsection 2.2, and the Executive's employment with the Bank is involuntarily terminated for any reason, including a termination due to disability of the Executive but excluding termination for Cause, or termination following a Change in Control within thirty-six (36) months of such Change in Control, within thirty (30) days of such involuntary termination of employment, the Bank shall be required to make an immediate lump sum Contribution to the Executive's Retirement Income Trust Fund in an amount equal to: (i) the full Contribution required for the Plan Year in which such involuntary termination occurs, if not yet made, plus (ii) the present value (computed using a discount rate equal to the Interest Factor) of all remaining Contributions to the Retirement Income Trust Fund; provided however, that, if necessary, an additional amount shall be contributed to the Retirement Income Trust Fund which is sufficient to provide the Executive with after tax benefits (assuming a constant tax rate equal to the rate in effect as of the date of the Executive's termination) beginning at his Benefit Age, equal in amount to that benefit which would have been payable to the Executive if no secular trust had been implemented and the benefit obligation had been accrued under APB Opinion No. 12, as amended by FAS 106.

  • Termination of Employment Executive's employment hereunder may be terminated under the following circumstances:

  • 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:

  • 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.

  • 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.

  • Termination of Employment Severance Your immediate supervisor or the Company's Board of Directors may terminate your employment, with or without cause, at any time by giving you written notice of your termination, such termination of employment to be effective on the date specified in the notice. You also may terminate your employment with the Company at any time. The effective date of termination (the "Effective Date") shall be the last day of your employment with the Company, as specified in a notice by you, or if you are terminated by the Company, the date that is specified by the Company in its notice to you. The following subsections set forth your rights to severance in the event of the termination of your employment in certain circumstances by either the Company or you. Section 5 also sets forth certain restrictions on your activities if your employment with the Company is terminated, whether by the Company or you. That section shall survive any termination of this Agreement or your employment with the Company.

  • Termination of Employment Period The Agreement Term shall terminate upon the occurrence of any of the following:

  • Separation of Employment (a) If an employee is discharged he shall be paid in full for all monies owing him on the date of his discharge. If an employee quits the Employer may withhold payment for five (5) calendar days. (b) The Employer shall give a Record of Employment Certificate to any employee who separates from employment for at least seven (7) days for any reason within five (5) days of the last day worked, or terminates.

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