Termination Guidelines. If you terminate employment with the Company before the Vesting Date for any reason other than for cause, retirement, death, or permanent disability, you will forfeit all of these shares. If you are terminated for cause before the Vesting Date you will forfeit all of these shares. If you retire, die or become totally and permanently disabled, your shares will 100% vest upon such termination of employment.
Termination Guidelines. 1. The guidelines provide a minimum period of notice of termination except in the case of serious misconduct.
2. Termination must only be for a valid reason.
3. Where the dismissal relates to an employee’s conduct or performance, the employee must have an opportunity to respond to any allegations about his or her performance relative to the dismissal.
4. These guidelines do not allow an employee to be terminated for a prohibited reason such as: A temporary absence due to illness or injury ie authorised leave. We can however require the employee to produce a Medical Certificate that states the nature of the illness and the expected recovery time; Union membership or participation in union activities outside working hours or with the employers consent during working hours; Union - non membership; Representing employees; Filing a complaint against the employer; Race, colour, sex, sexual preference, age, physical or mental disability, marital status, family responsibilities, pregnancy, religion, political opinion, national extraction or social origin or; Absence on maternity or parental leaves. There are however a wide variety of valid reasons for termination, such as: Incapacity to do the job; Improper behaviour; Agreement misconduct provisions as per Clause 37 (Malingering, refusal of duty, inefficiency, neglect, etc); Redundancy;
Termination Guidelines. If you terminate employment for reasons other than cause, retirement, death, permanent disability or transferring to another Xxx company, you will have 90 days from the date of termination (or until the expiration of the option term, if that date is less than 90 days from the date of termination) to exercise any vested stock options. Unvested stock options will be forfeited. If you are terminated for cause, you will forfeit all benefits from the Plan and all options (vested and unvested) will immediately be cancelled. If you retire, die or become totally and permanently disabled, your stock options will immediately 100% vest upon termination of employment and you (or your beneficiary) will have one year from the date of termination (or until the expiration of the option term, if that date is less than one year from the date of termination) to exercise all vested options. If you transfer to another Xxx company after a date when any portion of this award has become vested, you will retain the portion that is vested at the time of transfer, but any unvested portion will be forfeited. If you transfer to another Xxx company prior to a date when any portion of this award has become vested, then a portion of the option award will become vested upon the date of transfer, as follows: • None of your award will vest if the transfer date is less than 6 months after the Grant Date. • 20% of your award will vest if the transfer date is at least 6 months but less than 18 months after the Grant Date. • 40% of your award will vest if the transfer date is at least 18 months but less than 30 months after the Grant Date. • 60% of your award will vest if the transfer date is at least 30 months but less than 36 months after the Grant Date. I wish to accept this award granted under the Xxx Radio, Inc. Long-Term Incentive Plan. I acknowledge that I have received a copy of the Plan Summary, Plan Prospectus, and Legal Plan Document, and agree to all of the terms and conditions contained in this agreement and the Legal Plan Document. In the event of inconsistency between this agreement and the Legal Plan Document, the terms of the Legal Plan Document shall control. Signature: Date: [date] Restricted Stock [number]
Termination Guidelines. Termination may come in 2 cases - Voluntary withdrawal and Management Termination.
Termination Guidelines. If you have a separation from service with the Company before the Vesting Date for any reason other than for cause, retirement, death or permanent disability, then you will forfeit all of these units. If you are terminated for cause, as that term is defined in the Legal Plan Document, you will forfeit all of these units.
