Consequences of Termination Contract Clauses (245)

Grouped Into 1 Collection of Similar Clauses From Business Contracts

This page contains Consequences of Termination clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Consequences of Termination. Compensation upon Termination by Company – For Cause. Upon the termination of your employment For Cause, you will cease to have any rights to Base Salary, bonus awards, expense reimbursements, fringe benefits or any other compensation or benefits of any nature, except that you will be entitled to receive any Base Salary that has accrued but is unpaid, any reimbursable expenses that have been incurred but are unpaid as of your Termination Date, which will be paid in accordance with Company's usua...l payroll procedures (collectively, the "Accrued Amounts"). Compensation upon Termination by Company – Not For Cause. Upon the Termination Without Cause of your employment provided for in paragraph 6(d), you will cease to have any rights to Base Salary, bonus awards, expense reimbursements, fringe benefits or any other compensation or benefits of any nature, except that you will be entitled to receive the Accrued Amounts and Annual Performance Bonus on a prorata temporis basis. Upon the Termination Without Cause of your employment provided for in paragraph 6(d), so long as you are complying with the non-compete and other applicable obligations set forth in this Agreement, the Company shall continue to pay you Severance Pay in an amount equal to six (6) months of Base Salary at a rate in effect on the date of termination, reduced by any required federal, state and local taxes and any other applicable withholdings or deductions, with the Company's payment of such salary continuation payable in periodic installments in accordance with the Company payroll practices. You agree and acknowledge that the Company may condition the receipt of any Severance Pay due to you pursuant to this paragraph upon: (i) you entering into a full release of claims in favor of the Company, its affiliates and subsidiaries and their respective officers and directors and separation agreement in such form as to be provided by the Company and (ii) such general release becomes effective within twenty-one (21) business days after the day it is provided to you for execution, and is not thereafter revoked by you, and provided further that you comply with all terms and conditions of such separation agreement, you will receive the benefit to which you are entitled. In the event the Company invokes its non-compete option as provided below, your Severance Pay will 8 end and the other terms and conditions of said separation agreement will continue. Compensation upon Termination – By You. Upon your voluntary termination of your employment provided for in paragraph 6(c), you will cease to have any rights to Base Salary, bonus awards, expense reimbursements, fringe benefits or any other compensation or benefits of any nature, except that you will be entitled to receive the Accrued Amounts. Compensation Upon Termination – Death or Permanent Disability. In the event your employment is terminated because of death or Permanent Disability, you will cease to have any rights to Base Salary, bonus awards, expense reimbursements, fringe benefits or any other compensation or benefits of any nature, except that you will be entitled to receive the Accrued Amounts. In the event your employment is terminated as a result of your death, your spouse or, if you are not married at the time of your death, your estate will be entitled to the Accrued Amounts. View More
Found in Calyxt, Inc. contract
Consequences of Termination. a) Except as otherwise provided in Section 8 of this Letter, upon the termination of your employment for any reason, you will cease to have any rights to Base Salary, bonus awards, unvested equity awards, expense reimbursements, fringe benefits or any other compensation or benefits of any nature, except that you will be entitled to receive any Base Salary that has accrued but is unpaid, any reimbursable expenses that have been incurred but are unpaid, which will be paid in accordance with Compan...y's usual payroll procedures. (collectively, the "Accrued Amounts"). 4 b) Termination Without Cause. In the event your employment is terminated by the Company without Cause, and provided that you execute a general release of claims in favor of the Company, its affiliates and subsidiaries and their respective officers and directors in a form provided by the Company and such general release becomes effective within fifteen (15) days after you execute the release, and provided further that you relinquish any claim to any payments in the nature of severance or termination payments except as specifically provided in this Section 8(b), so long as you are complying with the non-compete and other obligations set forth in this agreement, you will receive: (i) the Accrued Amounts, (ii) Annual performance Bonus on a pro-rata basis, which pro-rata Bonus will be paid on the next payroll in which the Termination Date occurs; (iii) In the event of a Termination without Cause during the first year of your employment, eighteen (18) months' Base Salary and your maximum Annual Performance Bonus Target related to the period, payable in accordance with the Company's usual payroll procedures; (iv) in the event of a Termination without Cause after the first year of your employment, twenty-four (24) months' Base Salary and your maximum Annual Performance Bonus Target related to the period, payable in accordance with the Company's usual payroll procedures. In the event the Company invokes its non-compete option as provided for in paragraph 9, your severance payment will end and the other terms and conditions of this separation agreement will continue. c) Termination for Cause. Compensation upon Termination by Company – For Cause. Upon the termination of your employment For Cause, you will cease to have any rights to Base Salary, bonus awards, expense reimbursements, fringe benefits or any other compensation or benefits of any nature, except that you will be entitled to receive any Base Salary that has accrued but is unpaid, any reimbursable expenses that have been incurred but are unpaid unpaid, as of your Termination Date, which will be paid in accordance with Company's usual payroll procedures procedures. (collectively, the "Accrued Amounts"). Compensation upon Termination d) Change in Control Termination. Notwithstanding any other provision in this Letter, if your employment under this Letter is terminated by the Company – Not For Cause. Upon the Termination Without without Cause (other than on account of your death or Disability) or for Good Reason (the new company takes certain actions without your consent such as (a) a material and adverse change in job title or a material diminution in authority, job duties or responsibilities; (b) a reduction in base salary or a material reduction in employment provided for benefits; or (c) assignment to any work location more than fifty (50) miles from Calyxt's current headquarters), within thirty six (36) months following a Change in paragraph 6(d), you will cease to have any rights to Base Salary, bonus awards, expense reimbursements, fringe benefits or any other compensation or benefits of any nature, except that Control, you will be entitled to receive the Accrued Amounts and Annual Performance Bonus on "Accrued Amounts" provided you execute a prorata temporis basis. Upon the Termination Without Cause of your employment provided for in paragraph 6(d), so long as you are complying with the non-compete and other applicable obligations set forth in this Agreement, the Company shall continue to pay you Severance Pay in an amount equal to six (6) months of Base Salary at a rate in effect on the date of termination, reduced by any required federal, state and local taxes and any other applicable withholdings or deductions, with the Company's payment of such salary continuation payable in periodic installments in accordance with the Company payroll practices. You agree and acknowledge that the Company may condition the receipt of any Severance Pay due to you pursuant to this paragraph upon: (i) you entering into a full general release of claims in favor of the Company, its affiliates and subsidiaries and their respective officers and directors and separation agreement in such a form as to be provided by the Company and (ii) such general release becomes effective within twenty-one (21) business fifteen (15) days after you execute the day it is provided to you for execution, and is not thereafter revoked by you, release, and provided further that you comply with all terms and conditions are ineligible for and/or relinquish any claim to any payments in the nature of such separation agreement, severance or termination payments except as specifically provided in this Section 8, you will receive be entitled to receive: (i) Twenty-four (24) months' of your salary, at the benefit to which you are entitled. amount applicable as of the date of the Change in Control, payable in the normal course of the Company's payroll practice; and (ii) two times your maximum Annual Performance Bonus. This bonus will be paid within ten days of the transaction resulting in the Change of Control. If the Release Execution Period begins in one taxable year and ends in another taxable year, payment will not be made until the beginning of the second taxable year. e) Voluntary or other Termination. In the event the Company invokes its non-compete option as provided below, your Severance Pay will 8 end and the other terms and conditions of said separation agreement will continue. Compensation upon Termination – By You. Upon your a termination for any reason not listed herein, including a voluntary termination of your employment provided for in paragraph 6(c), termination, you will cease to have any rights to Base Salary, bonus awards, expense reimbursements, fringe benefits or any other compensation or benefits of any nature, except agree that you will be entitled to receive no compensation other than the Accrued Amounts. Compensation Upon Termination – Death or Permanent Disability. In the event your employment is terminated because of death or Permanent Disability, you will cease to have any rights to Base Salary, bonus awards, expense reimbursements, fringe benefits or any other compensation or benefits of any nature, except that you will be entitled to receive the Accrued Amounts. In the event your employment is terminated as a result of your death, your spouse or, if you are not married at the time of your death, your estate will be entitled to the Accrued Amounts. View More
Found in Calyxt, Inc. contract
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