Termination Example Sample Clauses

Termination Example. If Employee A is terminated by the Company without Cause or terminates his employment for Good Reason on June 30, 2013, Employee A will have (A) 56 Eligible Tranche I Service Options of which 28 options will have time-vested and 2 options will vest and become exercisable on the date of such termination based upon Employee A’s two months of service in 2013 following the first anniversary of the Grant Date (14 options vesting on the next regularly scheduled vesting date with two-twelfths (2/12) of the year of service), (B) 56 Eligible Tranche II Service Options of which 14 options will have time-vested and 7 options will vest and become exercisable on the date of such termination based upon Employee A’s six months of service in 2013, and (C) 56 Eligible Tranche III Service Options of which 0 options will have vested and 7 options will vest and become exercisable on the date of such termination.
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Termination Example. If Employee A is terminated by the Company without Cause or terminates his employment for Good Reason on June 30, 2013, Employee A will have (A) 131 Eligible Tranche I Performance Options of which 70 options will remain outstanding and be eligible to vest based upon the Applicable Percentage (30 Tranche I Service Options will have vested or will vest in connection with Employee A’s termination and 30/56 equals 53.5%), (B) 131 Eligible Tranche II Performance Options of which 49 options will remain outstanding and be eligible to vest based upon the Applicable Percentage (21 Tranche II Service Options will have vested or will vest in connection with Employee A’s termination and 21/56 equals 37.5%), and (C) 130 Eligible Tranche III Performance Options of which 16 options will remain outstanding and be eligible to vest based upon the Applicable Percentage (7 Tranche III Service Options will have vested or will vest in connection with Employee A’s termination and 7/56 equals 12.5%).
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Termination Example. The Participant is terminated by the Company without Cause on _________ (the Date of Termination). No RSUs have become Eligible RSUs on the Date of Termination because the Date of Termination is prior to the third anniversary of the Grant Date, and therefore no RSUs have become vested prior to the Date of Termination. All RSUs are forfeited and returned to the Company upon such Termination of Employment.
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Termination Example. Optionee is terminated by the Company without Cause on June 1, 2018 (the Date of Termination). No Options have become Eligible Options on the Date of Termination because the Date of Termination is prior to the third anniversary of the Grant Date, and therefore no Options are vested on the Date of Termination. All Options are cancelled and forfeited upon termination of employment.
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Termination Example. If Optionee is terminated by the Company without Cause or resigns for Good Reason on August 13, 2013 (the Release Date), Optionee will vest and become exercisable on the Date of Termination (i.e., August 13, 2013) in (A) the first Tranche (i.e., as to 50,000 Shares subject to the Option) which would have vested on February 13, 2013 but for Section 4(c), and (B) as to 50% of the 50,000 Shares subject to the second Tranche that was scheduled to vest on February 13, 2014 (i.e., as to 25,000 Shares) because Optionee was employed for 50% of the vesting year February 14, 2013 – February 13, 2014. The remaining unvested portion of the Option, consisting of 50% of the second Tranche and the entire third and fourth Tranches, shall be forfeited and cancelled.
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Termination Example. Participant is terminated by the Company without Cause or resigns for Good Reason on August 13, 2013 (the Release Date). Assume that the average of the per-share closing price of a Share as reported on the principal exchange on which the Shares are listed for trading for the sixty (60) consecutive trading days ending on February 13, 2013 (the first anniversary of the CEO Effective Date) was $85. But for Section 3(d), Participant would have already vested in 25% of the Tranche I Performance Restricted Shares and Tranche II Performance Restricted Shares (i.e., as to 51,116 Restricted Shares) on February 13, 2013 (because the Tranche I Measurement Standard and Tranche II Measurement Standard were satisfied and such Restricted Shares were Eligible Restricted Shares), and those Restricted Shares will vest on the Date of Termination. Additionally, the unvested Restricted Shares shall remain eligible to vest in accordance with Section 3(a) until the tenth (10th) anniversary of the CEO Effective Date as to (i) Restricted Shares that are Eligible Restricted Shares at the time of termination, which is 25% of the Tranche III Performance Restricted Shares (a total of 25,558 Restricted Shares), and (ii) fifty percent (50%) of each of the Tranche I, II and III Performance Restricted Shares which were scheduled to become Eligible Restricted Shares on February 13, 2014 (i.e., 38,337 Restricted Shares in the aggregate). The remaining unvested Restricted Shares, consisting of 62.5% of each of the Tranche I, II and III Restricted Shares, shall be and returned to the Company.
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Termination Example. If Participant is terminated by the Company without Cause or resigns for Good Reason on August 13, 2013 (the Release Date), Participant will vest on the Date of Termination (i.e., August 13, 2013) in (A) the first Tranche (i.e., as to 76,250 Restricted Shares) which would have vested on February 13, 2013 but for Section 3(c), and (B) 50% of the 76,250 Restricted Shares subject to the second Tranche that were scheduled to vest on February 13, 2014 (i.e., 38,125 Restricted Shares) because Participant was employed for 50% of the vesting year February 14, 2013 – February 13, 2014. The remaining unvested 50% of the 76,250 Restricted Shares subject to the second Tranche (i.e., 38,125 Restricted Shares) and all Restricted Shares subject to the third and fourth Tranches shall be forfeited and returned to the Company.
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Termination Example. Optionee is terminated by the Company without Cause or resigns for Good Reason on August 13, 2013 (the Release Date). Assume that the average of the per-share closing price of a Share as reported on the principal exchange on which the Shares are listed for trading for the sixty (60) consecutive trading days ending on February 13, 2013 (the first anniversary of the CEO Effective Date) was $85. But for Section 4(d), Optionee would have already vested in 25% of the Tranche I Performance Options and Tranche II Performance Options (i.e., as to 37,500 Options) on February 13, 2013 (because the Tranche I Measurement Standard and Tranche II Measurement Standard were satisfied and such Options were Eligible Options), and those Options will vest on the Date of Termination. Additionally, the unvested Options shall remain eligible to vest in accordance with Section 4(a) until the applicable Exercise Expiration Date as to (i) Options that are Eligible Options at the time of termination, which is 25% of each of the Tranche III, IV and V Performance Options (a total of 74,200 Options), and (ii) fifty percent (50%) of each of Tranche I, II, III, IV and V Performance Options which were scheduled to become Eligible Options on February 13, 2014 (i.e., 55,850 Options in the aggregate). The remaining unvested Options, consisting of 62.5% of each of the Tranches I, II, III, IV and V Performance Options, shall be forfeited and cancelled.
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Termination Example. If Employee A is terminated by the Company without Cause or terminates his employment for Good Reason on June 30, 2013, Employee A will have (A) 56 Eligible Tranche I RSUs of which 28 RSUs will have time-vested and 2 RSUs will vest on the date of such termination based upon Employee A’s two months of service in 2013 following the first anniversary of the Grant Date (14 RSUs vesting on the next regularly scheduled vesting date with two-twelfths (2/12) of the year of service), (B) 56 Eligible Tranche II RSUs of which 14 RSUs will have time-vested and 7 RSUs will vest on the date of such termination based upon Employee A’s six months of service in 2013, and (C) 56 Eligible Tranche III RSUs of which 0 RSUs will have vested and 7 RSUs will vest on the date of such termination.
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Related to Termination Example

  • Cross-Termination Notwithstanding any other provision of this Agreement, (1) BNY Mellon may terminate this Agreement by written notice to Voya if the accounting agreement between the Voya Funds and The Bank of New York Mellon is terminated by either the Voya Funds or The Bank of New York Mellon, effective on the date of termination of such accounting agreement, and (2) Voya may terminate this Agreement if the Voya Funds terminate their accounting agreement with The Bank of New York Mellon for cause, effective on the date of termination of such accounting agreement.

  • Termination Giving Rise to a Termination Payment If there is a Covered Termination by the Executive for Good Reason, or by the Company other than by reason of (i) death, (ii) disability pursuant to Section 11, or (iii) Cause, then the Executive shall be entitled to receive, and the Company shall promptly pay, Accrued Benefits and, in lieu of further base salary for periods following the Termination Date, as liquidated damages and additional severance pay and in consideration of the covenant of the Executive set forth in Section 13(a), the Termination Payment pursuant to Section 8(a).

  • Agreement Termination In the event Contractor is unable to fulfill its responsibilities under this Agreement for any reason whatsoever, including circumstances beyond its control, County may terminate this Agreement in whole or in part in the same manner as for breach hereof.

  • Termination Due to Change in Control If the Company terminates Executive's employment without Cause (and for reasons other than death or Disability) in conjunction with a Change in Control (as defined below), Executive shall be entitled to receive all accrued but unpaid salary and benefits through the date of termination plus the Change in Control Benefit (as defined below).

  • Post Termination After the Employee has terminated their employment with the Employer, the Employee shall be bound to Section XII of this Agreement for a period of ☐ Months ☐ Years (“Confidentiality Term”). If the Confidentiality Term is beyond any limit set by local, State, or Federal laws, then the Confidentiality Term shall be the maximum allowed legal time-frame.

  • Amendment Termination Etc This Agreement may not be orally amended, modified, extended or terminated, nor shall any oral waiver of any of its terms be effective. This Agreement may be amended, modified or extended, and the provisions hereof may be waived, only by an agreement in writing signed by the Company and the Shareholders that hold a majority of the Registrable Securities held by all the Shareholders; provided, however, that any amendment, modification, extension or waiver (an “Amendment”) shall also require the consent of any Shareholder who would be disproportionately and adversely affected thereby. Each such Amendment shall be binding upon each of the Parties and each Holder subject hereto. In addition, each of the Parties and each Holder subject hereto may waive any right hereunder by an instrument in writing signed by such party or holder. This Agreement may be terminated only by an agreement in writing signed by the Company and each of the Shareholders who then hold Registrable Securities. No termination under this Agreement shall relieve any Person of liability for breach prior to termination. In the event this Agreement is terminated, each person entitled to indemnification or contribution under this Agreement shall retain such indemnification and contribution rights respect to any matter that (i) may be an indemnified liability thereunder and (ii) occurred prior to such termination.

  • CONTRACT TERMINATION debarment. A breach of the contract clauses in 29 CFR 5.5 may be grounds for termination of the contract, and for debarment as a contractor and a subcontractor as provided in 29 CFR 5.12.

  • Termination Due to Change of Control A “Termination Due to Change of Control” shall occur if within the 24 month period beginning with the date a Change of Control occurs (i) the Executive’s employment with the Corporation is involuntarily terminated (other than by reason of death, disability or Cause) or (ii) the Executive’s employment with the Corporation is voluntarily terminated by the Executive subsequent to (A) any reduction in the total of the Executive’s annual base salary (exclusive of fringe benefits) and the Executive’s target bonus in comparison with the Executive’s annual base salary and target bonus immediately prior to the date the Change of Control occurs, (B) a significant diminution in the responsibilities or authority of the Executive in comparison with the Executive’s responsibility and authority immediately prior to the date the Change of Control occurs or (C) the imposition of a requirement by the Corporation that the Executive relocate to a principal work location more than 50 miles from the Executive’s principal work location immediately prior to the date the Change of Control occurs.

  • Required Termination If a court of competent jurisdiction or Government Authority issues a final non-appealable order or judgment holding that all or part of the Agreement or all or a part of the Services offered under the Agreement are in violation of any Law (each, a “Judgment”), the affected party has the right to terminate those portions of the Agreement that are part of such Judgment by providing the other party with written notice of its intent to terminate such portions of the Agreement, and subject to Section II.E, such termination of such portions of the Agreement will be effective as of the date specified in such notice.

  • Term Termination 8.1 This Agreement shall be effective as of the date hereof and shall continue in force until terminated in accordance with the provisions herein.

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