Grouped Into 17 Collections of Similar Clauses From Business Contracts
This page contains Effect of Termination clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Effect of Termination. The unvested portion of the Award shall be forfeited automatically without further action or notice if the Participant ceases to be continuously employed by Key for any reason other than as provided under the "Vesting" section above (related to death, Disability, Termination Under Limited Circumstances or certain terminations in connection with a Change of Control). For purposes of this Section 1, the continuous employment of the Participant shall not be deemed to have been interrupted, and the ...Participant shall not be deemed to have ceased to be an employee of Key, by reason of the transfer of employment among KeyCorp and its affiliates.View More
Effect of Termination. The unvested portion of the Award shall be forfeited automatically without further action or notice if the Participant ceases to be continuously employed by Key for any reason other than as provided under the "Vesting" section above (related to death, Disability, Termination Under Limited Circumstances or certain terminations in connection with a Change of Control). For purposes of this Section 1, the continuous employment of the Participant shall not be deemed to have been interrupted, and the ...Participant shall not be deemed to have ceased to be an employee of Key, by reason of the transfer of employment among KeyCorp and its affiliates. The Award is a retention award and shall not be treated as a "Covered Award" for purposes of Section 13.5 of the Plan. View More
Effect of Termination. Effective as of the Termination Date, none of MSP and the Shareholders (or their affiliates, directors, officers, employees, agents or other representatives), on the one hand, nor the Company (or its affiliates or its directors, officers, employees, agents or other representatives), on the other hand, shall have any liability or obligation to each other under the Share Purchase Agreement.
Effect of Termination. Effective as of the Termination Date, none of MSP and the Shareholders Sonasoft (or their its affiliates, directors, officers, employees, agents or other representatives), on the one hand, nor the Company IVT (or its affiliates or its directors, officers, employees, agents or other representatives), on the other hand, shall have any liability or obligation to each other under the Share Purchase License Agreement.
Effect of Termination. (a) Full Settlement. The amounts paid to the Executive pursuant to Section 3(b) or 3(f)(ii), as applicable, following termination of her employment shall be in full and complete satisfaction of the Executive's rights under this Agreement and any other claims she may have with respect to her employment by the Company and the termination thereof, other than as expressly provided in Section 2(b). Such amounts shall constitute liquidated damages with respect to any and all such rights and claims. In... consideration of the Executive's receipt thereof, the Executive shall execute a release in favor of the Company, substantially in the form of Exhibit A hereto. Pursuant to said release, the Company shall be released and discharged from any and all liability to the Executive in connection with this Agreement and otherwise in connection with the Executive's employment with the Company and the termination thereof, including, without limitation, any claims arising under federal, state or local labor, employment and employment discrimination laws, but excluding claims with respect to this Agreement and any Plan. The payments and provision of benefits to the Executive required by Sections 3(b) and 3(f)(ii), other than amounts that are required to be paid to the Executive under applicable law, shall be conditioned upon the Executive's delivery (and non-revocation prior to the expiration of the revocation period contained in the release) of such release in favor of the Company, provided that such conditions are met on or before the date that is 30 days after the date of the Executive's termination of employment. If such conditions are not met by such date, the Executive shall forfeit such payments and benefits. Notwithstanding the foregoing, nothing herein shall be construed to release the Company from its obligations to indemnify the Executive (as set forth in Section 7(h)). (b) No Duplication; No Mitigation; Limited Offset. In no event shall the Executive be entitled to duplicate payments or benefits under different provisions of this Agreement or pursuant to the terms of any other plan, program or arrangement of the Company or its affiliates. In the event of any termination of the Executive's employment, the Executive shall be under no obligation to seek other employment, and, there shall be no offset against amounts due the Executive under this Agreement or pursuant to any plan of the Company or any of its affiliates on account of any remuneration attributable to any subsequent employment or any claim asserted by the Company or any of its affiliates, except with respect to the continuation of benefits under Sections 3(b) and 3(f)(ii), which shall terminate immediately upon obtaining comparable coverage from another employer.View More
Effect of Termination. (a) Full Settlement. The amounts paid to the Executive pursuant to Section 3(b) or 3(f)(ii), 3(g)(ii), as applicable, following termination of her the Executive's employment shall be in full and complete satisfaction of the Executive's rights under this Agreement and any other claims she the Executive may have with respect to her the Executive's employment by the Company and the termination thereof, other than as expressly provided in Section 2(b). Such amounts shall constitute liquidated damage...s with respect to any and all such rights and claims. In consideration of the Executive's receipt thereof, each of the Executive shall and the Company agree to execute a mutual general release in favor of the Company, other party, substantially in the form of attached hereto as Exhibit A hereto. Pursuant to said release, the Company shall be released and discharged from any and all liability to the Executive in connection with this Agreement and otherwise in connection with the Executive's employment with the Company and the termination thereof, including, without limitation, any claims arising under federal, state or local labor, employment and employment discrimination laws, but excluding claims with respect to this Agreement and any Plan. A. The payments and provision of benefits to the Executive required by Sections 3(b) and 3(f)(ii), 3(g)(ii), other than amounts that are required to be paid to the Executive under applicable law, shall be conditioned upon the Executive's delivery (and non-revocation prior to the expiration of the revocation period contained in the release) of such release in favor of the Company, subject to the Company's delivery to the Executive of such release in favor of the Executive; provided that such conditions are met on or before the date that is 30 days after the date of the Executive's termination of employment. If such conditions are not met by such date, the Executive shall forfeit such payments and benefits. Notwithstanding the foregoing, nothing herein shall be construed to release the Company from its obligations to indemnify or the Executive (as from any obligations that continue following the Executive's date of termination, including without limitation, the Company's obligations under Section 3(g)(iii), the provision of welfare benefits and the indemnification of the Executive as set forth in Section 7(h)). 7(h), and the Executive's obligations under Section 5. (b) No Duplication; No Mitigation; Limited Offset. In no event shall the Executive be entitled to duplicate payments or benefits under different provisions of this Agreement or pursuant to the terms of any other plan, program or arrangement of the Company or its affiliates. In the event of any termination of the Executive's employment, the Executive shall be under no obligation to seek other employment, and, there shall be no offset against amounts due the Executive under this Agreement or pursuant to any plan of the Company or any of its affiliates on account of any remuneration attributable to any subsequent employment or any claim asserted by the Company or any of its affiliates, except with respect to the continuation of benefits under Sections 3(b) and 3(f)(ii), 3(g)(ii), which shall terminate immediately upon obtaining comparable coverage from another employer. View More
Effect of Termination. During the Termination Period, we will: • accept Deposits and Notices regarding the allocation of Deposits except for the last ten (10) Business Days of the Termination Period, • accept Notices regarding transfers between Investments except for the last ten (10) Business Days of the Termination Period, and • cease to accept Notices regarding transfers between Investments when it is not possible for the Investments described in such Notices, due to their 12 Classification: Customer Confidential [... ** ] = CERTAIN PORTIONS OF THIS AGREEMENT HAVE BEEN OMITTED BECAUSE THE OMITTED PORTIONS ARE BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM IF PUBLICLY DISCLOSED operation or issues of timing or other restrictions of the documents governing such Investments, to be liquidated prior to the end of the Termination Period.View More
Effect of Termination. During the Termination Period, we will: • ● accept Deposits and Notices regarding the allocation of Deposits except for the last ten (10) Business Days of the Termination Period, • ● accept Notices regarding transfers between Investments except for the last ten (10) Business Days of the Termination Period, and • ● cease to accept Notices regarding transfers between Investments when it is not possible for the Investments described in such Notices, due to their 12 Classification: Customer Confiden...tial [ ** ] = CERTAIN PORTIONS OF THIS AGREEMENT HAVE BEEN OMITTED BECAUSE THE OMITTED PORTIONS ARE BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM IF PUBLICLY DISCLOSED operation or issues of timing or other restrictions of the documents governing such Investments, to be liquidated prior to the end of the Termination Period. View More
Effect of Termination. In the event of a termination of this Agreement, Employee shall be paid the following severance benefits, payable promptly after the date of termination of his employment, in the following manner: (A) In the event that this Agreement is terminated by the death of Employee, this Agreement shall be deemed to have been terminated as of the date of such death except, however, that Bank shall pay to the surviving spouse of Employee, or in lieu thereof, to Employee's estate, an amount equal to six (6)... months of the base salary at his then current base rate. (B) In the event that this Agreement is terminated by Employee and Bank by mutual agreement, then Bank shall pay such severance benefits, if any, as shall have been agreed upon by Bank and Employee. 5 (C) In the event that Bank attempts to terminate this Agreement, other than for cause, death of Employee, or by mutual agreement with Employee, in addition to any other rights or remedies which Employee may have, Employee shall receive an amount equal to the greater of (i) six (6) months of base salary at his then current base rate, or (ii) the base salary Employee would have received had he continued to be employed pursuant to this Agreement throughout the end of the then existing term of employment hereunder. (D) In the event Bank terminates this Agreement for cause, no severance benefits shall be payable hereunder.View More
Effect of Termination. In the event of a termination of this Agreement, Employee shall be paid the following severance benefits, payable promptly after the date of termination of his employment, in the following manner: (A) In the event that this Agreement is terminated by the death of Employee, this Agreement shall be deemed to have been terminated as of the date of such death except, however, that Bank shall pay to the surviving spouse of Employee, or in lieu thereof, to Employee's estate, an amount equal to six (6)... months of the base salary at his then current base rate. (B) In the event that this Agreement is terminated by Employee and the Bank by mutual agreement, then the Bank shall pay such severance benefits, if any, as shall have been agreed upon by the Bank and Employee. 5 (C) In the event that Bank attempts to terminate this Agreement, other than for cause, death of Employee, or by mutual agreement with Employee, in addition to any other rights or remedies which Employee may have, Employee shall receive an amount equal to the greater of (i) six (6) months of base salary at his then current base rate, or (ii) the base salary Employee would have received had he continued to be employed pursuant to this Agreement throughout the end of the then existing term of employment hereunder. (D) In the event the Bank terminates this Agreement for cause, no severance benefits shall be payable hereunder. 6 11. ENTIRE UNDERSTANDING; AMENDMENT. This Agreement supersedes all previous agreements between Employee and the Bank, except for the supplemental executive retirement benefit contracts noted in Paragraph 2(C) hereof, and contains the entire understanding and agreement between the parties with respect to the subject matter hereof, and cannot be amended, modified, or supplemented in any respect except by a subsequent written agreement executed by both parties. View More
Effect of Termination. In the event of any termination of this Agreement pursuant to Section 2, Executive's employment shall terminate, and Executive and Employer shall have the following obligations: 9.1Executive's Obligations. Executive shall have no further obligations or liabilities hereunder except Executive's obligations under Sections 7 and 8, and any obligations arising in connection with any conduct of Executive described in Section 10.4. 9.2Employer's Obligations. Employer shall have no further obligations o...r liabilities hereunder, except that Employer shall: (i)Not later than two (2) weeks after the termination date, pay to Executive, pursuant to Employer's customary payroll processes, in a lump-sum cash payment, subject to any applicable tax withholding and deductions required by law: (a)Any Base Salary earned on or prior to the termination date, but which remains unpaid as of the termination date; and (b)Any Annual Bonus amounts Executive earned on or prior to the termination date pursuant to Section 4 but which remain unpaid as of the termination date; (ii)Comply with the applicable provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA") and the provisions of any Employer benefit plans in which Executive or Executive's eligible dependents or beneficiaries are participating at the time of termination; (iii)If the termination occurs at least six (6) months after the commencement of the Contract Year in which the termination occurs, Employer may pay to Executive a pro-rated portion of the Annual Bonus for such Contract Year, such amount, if any, and the conditions applicable to such payment (e.g., signing a general release) to be determined in the sole and absolute discretion of the Compensation Committee; and 11 (iv)Perform Employer's obligations, if any, under Section 10.View More
Effect of Termination. In the event of any termination of this Agreement pursuant to Section 2, Agreement, Executive's employment shall terminate, and Executive and Employer shall have the following obligations: 9.1Executive's Obligations. Executive shall have no further obligations or liabilities hereunder except Executive's obligations under Sections 7 and 8, and any obligations arising in connection with any conduct of Executive described in Section 10.4. 9.2Employer's Obligations. Employer shall have no further ob...ligations or liabilities hereunder, except that Employer shall: 8 (i)Not later than two (2) weeks after the termination date, pay to Executive, pursuant to Employer's customary payroll processes, in a lump-sum cash payment, subject to any applicable tax withholding and deductions required by law: (a)Any Base Salary earned on or prior to the termination date, but which remains unpaid as of the termination date; (b)Any other of Executive's then-vested sums and (b)Any benefits in accordance with the terms of this Agreement and the applicable benefits program; including, if any, an Annual Bonus amounts Executive earned on or prior payment and equity pursuant to the termination date pursuant terms and conditions of Section 4; and (c) Any unreimbursed expenses, subject to the terms and conditions of Section 4 but which remain unpaid as of the termination date; 5, and (ii)Comply with the applicable provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA") and the provisions of any Employer benefit plans in which Executive or Executive's eligible dependents or beneficiaries are participating at the time of termination; (iii)If the termination occurs at least six (6) months after the commencement of the Contract Year in which the termination occurs, Employer may pay to Executive a pro-rated portion of the Annual Bonus for such Contract Year, such amount, if any, and the conditions applicable to such payment (e.g., signing a general release) to be determined in the sole and absolute discretion of the Compensation Committee; and 11 (iv)Perform (iii)Perform Employer's obligations, if any, under Section 10. View More
