Termination of Employment and Related Matters Clause Samples

Termination of Employment and Related Matters. 1.1. The Executive’s employment with the Company will terminate by agreement with effect as and from the Termination Date, on which date the Employment Agreement will terminate without further obligation on the part of the Company. 1.2. Save as expressly provided for in this Release, the Executive acknowledges that the Executive has no entitlement to any annual leave, payment in lieu of annual leave, notice, payment in lieu of notice, bonus, commission, share options or other incentive benefit or scheme of any type or any entitlement to compensation for the loss of any rights or benefits in respect of any such incentives or schemes and all entitlement to salary and benefits will end on the Termination Date. 1.3. [The Executive will attend work in the normal manner between the date hereof and the Termination Date] OR [The Executive will cease active employment on close of business on [DATE / the Termination Date] AND EITHER [and will go on paid garden leave from that date until the Termination Date (“Garden Leave”).] OR [and will be paid in lieu of [the unexpired part of] the Executive’s notice period.] 1.4. The Company will pay any outstanding business expenses to the Executive in accordance with its normal expenses policy as long as a claim supported by the appropriate documentation in respect of such expenses. 1.5. Any overpayments or payments due from the Executive to the Company on the Termination Date or otherwise (including loans and training costs that are repayable) may be deducted from any sums to be paid to the Executive under this Release.

Termination of Employment and Related Matters. Letter of appointment

Termination of Employment and Related Matters. (a) The Consultant will cease serving as an officer and employee of the Company and the Association on June 30, 2013 (the “Employment Termination Date”). By entering into this Agreement, the Consultant tenders his resignation, effective as of the close of business on the Employment Termination Date, from each and every position which he holds as an employee, officer, director or committee member of the Company and/or the Association and each and every other position which he holds by virtue of his status as officer, employee, or director or committee member of the Company and/or the Association. The Company and the Association accept such resignation. (b) The Company Employment Agreement and the Association Employment Agreement are each hereby amended to provide that (i) from and after the date of this Agreement, the term “Employment Period” shall mean the period ending on June 30, 2013, and (ii) no extension of the “Employment Period” as so defined to a date beyond June 30, 2013 (including but not limited to any extension relating to a Change in Control) shall occur or be recognized and (iii) at the end of the Employment Agreement the Association shall transfer to Consultant all of its rights, title and interest in and to that certain 2012 Mercedes Benz automobile, VIN No. ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.

Termination of Employment and Related Matters