Term of Lafarge NA Employment Sample Clauses

Term of Lafarge NA Employment. Lafarge NA shall employ the Transferred Employees and the New Business Employees pursuant to this Agreement during the term (the "Term") commencing on January 1, 2002 with respect to the Transferred Employees and commencing on the employment commencement date with respect to each New Business Employee and ending on the first to occur of (i) December 31, 2004 or (ii) the effective date of the earlier termination of the Management Agreement (the "Termination Date"). The parties acknowledge that the employment by Lafarge NA of a particular Transferred Employee or New Business Employee may terminate earlier than the Termination Date in the event of the voluntary or involuntary termination of such an employee. In the event that Lafarge NA shall exercise the Option, this Agreement shall terminate, but the Transferred Employees and New Business Employees will remain employees of Lafarge NA or a subsidiary thereof. In the event that this Agreement shall terminate other than as a result of the exercise of the Option, all Transferred Employees and New Business Employees (including any Transferred Employees and New Business Employees on authorized leave of absence, layoff or disability), other than those Transferred Employees and New Business Employees designated by the Senior Vice President - Human Resources of Lafarge NA, with the prior approval of the Special Committee of Lafarge NA (as defined in the Management Agreement), as being reasonably necessary to the conduct of the business and/or operations of Lafarge NA, shall be transferred to BCNA and/or its subsidiaries or to such other entity or entities as may be designated by Lafarge SA and BCNA shall employ or cause its subsidiaries to employ or such designated entity or entities shall employ such Transferred Employees and New Business Employees effective as of the Termination Date. Effective as of the Termination Date, BCNA and Lafarge SA shall assume any and all liabilities and obligations of Lafarge NA and its subsidiaries arising from the employment or termination of employment of the Transferred Employees and the New Business Employees designated for transfer to BCNA and/or its subsidiaries as provided in this paragraph.
Sample 1
AutoNDA by SimpleDocs

Related to Term of Lafarge NA Employment

  • Continued Employment Beyond the Expiration of the Employment Term Unless the parties otherwise agree in writing, continuation of Executive’s employment with the Company beyond the expiration of the Employment Term shall be deemed an employment at-will and shall not be deemed to extend any of the provisions of this Agreement and Executive’s employment may thereafter be terminated at will by either Executive or the Company; provided that the provisions of Sections 10, 11 and 12 of this Agreement shall survive any termination of this Agreement or Executive’s Termination of Employment hereunder.

  • Continued Employment Following Expiration of Term Nothing in this Agreement shall mandate or prohibit a continuation of Executive’s employment following the expiration of the term of this Agreement, upon such terms and conditions as the Bank and Executive may mutually agree.

  • Expiration of the Employment Period If Executive’s employment terminates by reason of the expiration of the Employment Period pursuant to Section 1 as a result of the Company’s or Executive’s non-extension, then the Company will provide Executive with the Accrued Obligations. Thereafter, the Company Group shall have no further obligation to Executive or Executive’s legal representatives.

  • Expiration of Employment Period If Executive’s employment shall be terminated due to the normal expiration of the Employment Period, this Agreement shall terminate without further obligations to Executive, other than for payment of Accrued Obligations and the timely payment or provision of Other Benefits.

  • Term of Employment The Executive’s employment under this Agreement will commence on the date hereof and will continue for a period of one (1) year thereafter, subject to earlier termination as provided in Section 8 (the “Term”). This Agreement and the Term will be automatically renewed and extended for periods of one (1) year unless the Company or the Executive provides written notice no less than thirty (30) days prior to the expiration of the then-current Term of its or the Executive’s desire not to renew this Agreement.

  • Employment and Term of Employment Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company, as Controller and Secretary for a term (the "Term of Employment") beginning on the date first set forth above (the "Effective Date") and ending on the Expiration Date (defined below). As used in this Agreement, "Expiration Date" means the first anniversary of the Effective Date, provided that on each anniversary of the Effective Date (each such anniversary being referred to as a "Renewal Date"), the Expiration Date shall be automatically extended one additional year unless, not less than 10 days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 5 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 5 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

  • Expiration of Employment Term Unless the parties otherwise agree in writing, continuation of Executive’s employment with the Company following the expiration of the Employment Term shall be deemed an employment at-will and shall not be deemed to extend any of the provisions of this Agreement and Executive’s employment may thereafter be terminated at will by either Executive or the Company; provided that the provisions of Sections 6, 7 and 8 of this Agreement shall survive any termination of this Agreement or Executive’s termination of employment hereunder.

  • EXPIRATION OF EMPLOYMENT TERM; NON-EXTENSION OF AGREEMENT Upon the expiration of the Employment Term due to a non-extension of the Agreement by the Company or the Employee pursuant to the provisions of Section 2 hereof.

  • Early Termination of the Employment Period Notwithstanding Section 1(b) hereof, the Employment Period shall end upon the earliest to occur of (i) a Termination For Cause, (ii) a Termination Without Cause, (iii) a Voluntary Termination, (iv) a Termination Due to Retirement, (v) a Termination Due to Disability, or (vi) a Termination Due to Death.

  • Continuance of Employment/Service Required; No Employment/Service Commitment The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any of its Subsidiaries, affects the Grantee’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Grantee’s other compensation.

Time is Money Join Law Insider Premium to draft better contracts faster.