Terminations of Employment. (a) If the Employee incurs a Termination of Employment due to Disability, the Stock Option, to the extent outstanding at the time of such Termination of Employment, shall become immediately vested and fully exercisable and may be exercised by the Employee at any time prior to the first to occur of (i) one year after such Termination of Employment or (ii) the expiration date of the Stock Option, and shall thereafter expire.
(b) If the Employee incurs a Termination of Employment due to death, the Stock Option, to the extent outstanding at the time of such Termination of Employment, shall become immediately vested and fully exercisable and may be exercised by the Employee's estate or by a person who acquired the right to exercise such Stock Option by bequest, inheritance or otherwise by reason of the death of the Employee at any time prior to the first to occur of (i) one year after such Termination of Employment or (ii) the expiration date of the Stock Option, and shall thereafter expire.
(c) If the Employee incurs a Termination of Employment due to Retirement, the portion of the Stock Option, if any, which is exercisable at the time of such Termination of Employment may be exercised at any time prior to the first to occur of (i) three years after such Termination of Employment or (ii) the expiration date of the Stock Option, and shall thereafter expire. Any portion of the Stock Option that is not exercisable at the time of such Termination of Employment shall expire as of such Termination of Employment.
(d) If the Employee incurs a voluntary Termination of Employment by the Employee (other than Retirement), the portion of the Stock Option, if any, which is exercisable at the time of such Termination of Employment may be exercised at any time prior to the first to occur of (i) 30 days after such Termination of Employment or (ii) the expiration date of the Stock Option, and shall thereafter expire. Any portion of the Stock Option that is not exercisable at the time of such Termination of Employment shall expire as of such Termination of Employment.
(e) If the Employee incurs a Termination of Employment by the Company without Cause, the portion of the Stock Option, if any, which is exercisable at the time of such Termination of Employment may be exercised at any time prior to the first to occur of (i) 90 days after such Termination of Employment or (ii) the expiration date of the Stock Option, and shall thereafter expire. Any portion of the Stock Option that i...
Terminations of Employment. Executive’s employment may be terminated under various scenarios addressed in this Section 5(b). Upon any termination of employment, Executive will receive benefits described in Section 5(b)(i). Depending on the circumstances of the termination of employment, subject to the conditions in Section 6, Executive may be entitled to a lump sum payment of the amounts listed under one of Section 5(b)(ii), Section 5(b)(iii), or Section 5(b)(iv). Executive agrees that upon termination of Executive’s employment for any reason, Executive will resign as of the date of such termination and to the extent applicable, from the Board (and any committees thereof), the board of directors (and any committees thereof) of any of the Company’s affiliates and from any other positions Executive holds with the Company or any of its affiliates.
Terminations of Employment. If an employee takes PTO before it has actually accrued, and his or her employment is terminated before the PTO taken has been accrued, the Company will deduct the unearned PTO from the employee’s final pay, subject to any provision in state and federal law to the contrary.
Terminations of Employment. The 409A Regulations may or may not consider payments, that are made after my employment ends, to be Deferred Compensation. Tax regulations require the Contract to say that some “terminations of employment” do not trigger or change the date of Deferred Compensation. Therefore, only to determine whether (or when) Deferred Compensation is payable after my employment with the Employer ends, the following rules will apply. For all other purposes, each Contract’s terms and conditions relating to my termination of employment will apply without amendment. This means that I may terminate my employment as provided in my current Contract regardless of this Rider — but the Employer will not owe me Deferred Compensation unless the conditions of both the Contract and this Rider are satisfied. The Employer may terminate my employment as stated in a Contract regardless of this Rider, whether or not Deferred Compensation is payable. The Rider’s conditions are that:
(a) My Deferred Compensation will not be started, moved up or postponed as a result of a termination of my employment unless the Contract provides for the payment to be started, moved up or postponed and the termination of employment also is a Separation from Service (defined in my Contract).
(b) No Deferred Compensation will be paid as the result of my resignation that is (or is not) a Separation from Service unless all of the following conditions are satisfied:
(i) The Contract must provide for the Deferred Compensation to be paid to me.
(ii) I must have a Good Reason to resign (defined in my Contract).
(iii) I satisfy all notice provisions and other conditions set forth in my Contract related to a Good Reason.
(iv) The Employer does not cure the situation giving rise to such Good Reason as set forth in my Contract.
(v) The amount, time and form of the Deferred Compensation must be substantially identical to a payment of Deferred Compensation that would result from the Employer’s dismissal of me without cause.
Terminations of Employment. Executive’s employment may be terminated under a scenario addressed in this Section 5(b). Upon any termination of employment, Executive will receive benefits described in Section 5(b)(i). Depending on the circumstances of the termination of employment, subject to the conditions in Section 6, Executive may be entitled to a lump sum payment of the amounts listed under one of Section 5(b)(ii), Section 5(b)(iii), or Section 5(b)(iv). Executive agrees that if Executive owns or beneficially owns less than 5% of the Company’s fully diluted equity, upon termination of Executive’s employment for any reason, Executive will resign as of the date of such termination and to the extent applicable, from the Board (and any committees thereof), the board of directors (and any committees thereof) of any of the Company’s subsidiaries or affiliates. Executive agrees that upon termination of Executive’s employment for any reason, Executive will resign as of the date of such termination from any other employment positions Executive holds with the Company or any of its subsidiaries or affiliates.
Terminations of Employment. Executive’s employment may be terminated for any reason. Upon any termination of employment, Executive will receive benefits described in Section 5(b)(i). Executive agrees that upon termination of Executive’s employment for any reason, Executive will resign as of the date of such termination and to the extent applicable, from the Board (and any committees thereof), the board of directors (and any committees thereof) of any of the Company’s affiliates and from any other positions Executive holds with the Company or any of its affiliates.
Terminations of Employment. The Company shall have the right to discharge or dismiss any Employee for just cause. In addition, the Company shall have the right to summary dismissal or discharge of Employees upon any of the following grounds or similar serious causes:
Terminations of Employment. Subject to the terms of this Agreement, in the event that your employment with the Company Group is terminated for any reason, other than by the Company for Cause or by you for Good Reason, you will forfeit your right to receive any unearned portion of your Performance Award.
Terminations of Employment. (a) Voluntary Resignation, Retirement, or Discharge for --------------------------------------------------- Cause. In the event that, prior to the end of the Term of Employment, ----- the Key Executive voluntarily resigns or retires for any reason (except a "constructive discharge", as hereinafter defined, or is discharged by Xxxx Atlantic for "cause" (as hereinafter defined), the Key Executive shall forfeit any and all rights to receive the compensation and benefits set forth in Sections 2 and 5 of this Agreement which as of the relevant date have not yet
Terminations of Employment a. Executive will be entitled to the applicable benefits described in Section 3 if, during the term of this Agreement provided in Section 1, Executive’s employment is terminated in any of the following circumstances:
(i) Prior to a Change in Control (as defined below), the Company terminates the Executive’s employment for any reason other than Cause (as defined below).
(ii) Upon or following a Change in Control, the Company terminates the Executive’s employment for any reason other than for Cause.
(iii) Prior to a Change in Control, the Executive terminates his employment with the Company upon not less than five (5) days’ written notice to the Company given within ninety (90) days following the date on which the Executive becomes aware of a Good Reason (as defined below) to terminate his employment.
(iv) Upon or following a Change in Control, the Executive terminates his employment with the Company upon not less than five (5) days’ written notice to the Company given within ninety (90) days following the date on which the Executive becomes aware of a Good Reason to terminate his employment.
