Termination for Cause Clause Example with 6 Variations from Business Contracts
This page contains Termination for Cause clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Termination for Cause. "Cause" shall be defined as indicated in Section 7 of the Agreement, irrespective of whether the termination is or is not considered a fair termination (i.e., "despido procedente") under Spanish legislation. UNITED KINGDOM 1. Responsibility for Taxes; Tax Withholding. The following provision supplements Section 10 of the Agreement: If payment or withholding of the income tax due in connection with the Award is not made within ninety (90) days after the end of the U.K. tax year in which the event... giving rise to the income tax liability occurred or such other period specified in Section 222(1)(c) of the U.K. Income Tax (Earnings and Pensions) Act 2003 (the "Due Date"), the amount of any uncollected income tax shall constitute a loan owed by you to your Employer, effective as of the Due Date. You agree that the loan will bear interest at the then-current official rate of Her Majesty's Revenue & Customs ("HMRC"), it shall be immediately due and repayable, and the Company or Employer may recover it at any time thereafter by any of the means referred to in Section 10 of the Agreement. Notwithstanding the foregoing, if you are a director or executive officer of the Company (within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), will not be eligible for a loan to cover the income tax liability. In the event that you are a director or executive officer and the income tax is not collected from or paid by you by the Due Date, the amount of any uncollected income tax may constitute a benefit to you on which additional income tax and national insurance contributions ("NICs") will be payable. You will be responsible for paying and reporting any income tax due on this additional benefit directly to HMRC under the self-assessment regime, and for reimbursing the Company or your Employer (as applicable) the value of any employee NICs due on this additional benefit.View More
Variations of a "Termination for Cause" Clause from Business Contracts
Termination for Cause. Notwithstanding anything to the contrary in the Plan or your Award Agreement, "Cause" shall be defined as indicated in Section 7 of the Agreement, Plan, irrespective of whether the termination is or is not considered a fair termination (i.e., "despido procedente") under Spanish legislation. UNITED KINGDOM 1. Responsibility for Taxes; Use of Previously Owned Shares. Notwithstanding any provision the Award Agreement or the Plan to the contrary, if you are resident in the United Kingdom, you may no...t use previously-owned Shares to pay the purchase price or any requisite tax withholding in connection with the Option. 9 2. Income Tax and Social Insurance Contribution Withholding. The following provision supplements Section 10 5 of the Award Agreement: If payment or withholding of the income tax due in connection with the Award Option is not made within ninety (90) days after the end of the U.K. tax year in which the event giving rise to the income tax liability occurred or such other period specified in Section 222(1)(c) of the U.K. Income Tax (Earnings and Pensions) Act 2003 (the "Due Date"), the amount of any uncollected income tax paid by the Employer shall constitute a loan owed by you to your the Employer, effective as of the Due Date. You agree that the loan will bear interest at the then-current official rate of Her Majesty's Revenue & Customs ("HMRC"), it shall be immediately due and repayable, and the Company or the Employer may recover it at any time thereafter by any of the means referred to in Section 10 5 of the Award Agreement. Notwithstanding the foregoing, if you are a director or executive officer of the Company (within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), will you shall not be eligible for a loan from the Company or the Employer to cover the income tax liability. In the event that you are a director or executive officer of the Company and the income tax is not collected from or paid by you by the Due Date, the amount payment of any uncollected income tax and employee national insurance contributions ("NICs") by the Employer may constitute a benefit to you (the "Tax Benefit") on which additional income tax and national insurance contributions ("NICs") NICs will be payable. You If you are a director or executive officer of the Company, you will be responsible for paying and reporting any income tax due on this additional benefit the Tax Benefit directly to HMRC under the self-assessment regime, and the Employer will hold you liable for reimbursing the Company or your Employer (as applicable) Tax Benefit and the value cost of any employee NICs due on this additional benefit. the Tax Benefit that the Company or the Employer was obligated to pay and paid. The Company or the Employer (as applicable) may recover the Tax Benefit and the cost of any such employee NICs from you at any time by any of the means referred to in Section 5 of the Award Agreement. View More
Termination for Cause. Notwithstanding anything to the contrary in the Plan or your Award Agreement, "Cause" shall be defined as indicated in Section 7 of the Agreement, Plan, irrespective of whether the termination is or is not considered a fair termination (i.e., "despido procedente") under Spanish legislation. UNITED KINGDOM 1. Responsibility for Taxes; Income Tax and Social Insurance Contribution Withholding. The following provision supplements Section 10 5 of the Award Agreement: If payment or withholding of the ...income tax due in connection with the Award Restricted Stock Units is not made within ninety (90) days after the end of the U.K. tax year in which the event giving rise to the income tax liability occurred or such other period specified in Section 222(1)(c) of the U.K. Income Tax (Earnings and Pensions) Act 2003 (the "Due Date"), the amount of any uncollected income tax paid by the Employer shall constitute a loan owed by you to your the Employer, effective as of the Due Date. You agree that the loan will bear interest at the then-current official rate of Her Majesty's Revenue & Customs ("HMRC"), it shall be immediately due and repayable, and the Company or the Employer may recover it at any time thereafter by any of the means referred to in Section 10 5 of the Award Agreement. Notwithstanding the foregoing, if you are a director or executive officer of the Company (within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), will you shall 9 not be eligible for a loan from the Company or the Employer to cover the income tax liability. In the event that you are a director or executive officer of the Company and the income tax is not collected from or paid by you by the Due Date, the amount payment of any uncollected income tax and employee national insurance contributions ("NICs") by the Employer may constitute a benefit to you (the "Tax Benefit") on which additional income tax and national insurance contributions ("NICs") NICs will be payable. You If you are a director or executive officer of the Company, you will be responsible for paying and reporting any income tax due on this additional benefit the Tax Benefit directly to HMRC under the self-assessment regime, and the Employer will hold you liable for reimbursing the Company or your Employer (as applicable) Tax Benefit and the value cost of any employee NICs due on this additional benefit. the Tax Benefit that the Company or the Employer was obligated to pay and paid. The Company or the Employer (as applicable) may recover the Tax Benefit and the cost of any such employee NICs from you at any time by any of the means referred to in Section 5 of the Award Agreement. View More
Termination for Cause. Notwithstanding anything to the contrary in the Plan or your Award Agreement, "Cause" shall be defined as indicated in Section 7 of the Agreement, Plan, irrespective of whether the termination is or is not considered a fair termination (i.e., "despido procedente") under Spanish legislation. UNITED KINGDOM 1. Responsibility for Taxes; Income Tax and Social Insurance Contribution Withholding. The following provision supplements Section 10 5 of the Award Agreement: If payment or withholding of the ...income tax due in connection with the Award Restricted Stock Units is not made within ninety (90) days after the end of the U.K. tax year in which the event giving rise to the income tax liability occurred occurs or such other period specified in Section 222(1)(c) of the U.K. Income Tax (Earnings and Pensions) Act 2003 (the "Due Date"), the amount of any uncollected income tax paid by the Employer shall constitute a loan owed by you to your the Employer, effective as of the Due Date. You agree that the loan will bear interest at the then-current official rate of Her Majesty's Revenue & Customs ("HMRC"), it shall be immediately due and repayable, and the Company or the Employer may recover it at any time thereafter by any of the means referred to in Section 10 5 of the Award Agreement. Notwithstanding the foregoing, if you are a director or executive officer of the Company (within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), will you shall not be eligible for a loan from the Company or the Employer to cover the income tax liability. In the event that you are a director or executive officer of the Company and the income tax is not collected from or paid by you by the Due Date, the amount payment of any uncollected income tax and employee national insurance contributions ("NICs") by the Employer may constitute a benefit to you (the "Tax Benefit") on which additional income tax and national insurance contributions ("NICs") NICs will be payable. You If you are a director or executive officer of the Company, you will be responsible for paying and Restricted Stock Units - Global 10 reporting any income tax due on this additional benefit the Tax Benefit directly to HMRC under the self-assessment regime, and the Employer will hold you liable for reimbursing the Company or your Employer (as applicable) Tax Benefit and the value cost of any employee NICs due on this additional benefit. the Tax Benefit that the Company or the Employer was obligated to pay and paid. The Company or the Employer (as applicable) may recover the Tax Benefit and the cost of any such employee NICs from you at any time by any of the means referred to in Section 5 of the Award Agreement. View More
Termination for Cause. Notwithstanding anything to the contrary in the Plan or your Award Agreement, "Cause" shall be defined as indicated in Section 7 of the Agreement, Plan, irrespective of whether the termination is or is not considered a fair termination (i.e., "despido procedente") under Spanish legislation. UNITED KINGDOM 1. Responsibility for Taxes; Income Tax and Social Insurance Contribution Withholding. The following provision supplements Section 10 5 of the Award Agreement: If payment or withholding of the ...income tax due in connection with the Award Restricted Stock Units is not made within ninety (90) days after the end of the U.K. tax year in which the event giving rise to the income tax liability occurred or such other period specified in Section 222(1)(c) of the U.K. Income Tax (Earnings and Pensions) Act 2003 (the "Due Date"), the amount of any uncollected income tax paid by the Employer shall constitute a loan owed by you to your the Employer, effective as of the Due Date. You agree that the loan will bear interest at the then-current official rate of Her Majesty's Revenue & Customs ("HMRC"), it shall be immediately due and repayable, and the Company or the Employer may recover it at any time thereafter by any of the means referred to in Section 10 5 of the Award Agreement. Notwithstanding the foregoing, if you are a director or executive officer of the Company (within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), will you shall not be eligible for a loan from the Company or the Employer to cover the income tax liability. In the event that you are a director or executive officer of the Company and the income tax is not collected from or paid by you by the Due Date, the amount payment of any uncollected income tax and employee national insurance contributions ("NICs") by the 9 Employer may constitute a benefit to you (the "Tax Benefit") on which additional income tax and national insurance contributions ("NICs") NICs will be payable. You If you are a director or executive officer of the Company, you will be responsible for paying and reporting any income tax due on this additional benefit the Tax Benefit directly to HMRC under the self-assessment regime, and the Employer will hold you liable for reimbursing the Company or your Employer (as applicable) Tax Benefit and the value cost of any employee NICs due on this additional benefit. the Tax Benefit that the Company or the Employer was obligated to pay and paid. The Company or the Employer (as applicable) may recover the Tax Benefit and the cost of any such employee NICs from you at any time by any of the means referred to in Section 5 of the Award Agreement. View More
Termination for Cause. "Cause" shall be defined as indicated in Section 7 of the Agreement, Plan, irrespective of whether the termination of Service is or is not considered a fair termination (i.e., "despido procedente") under Spanish legislation. UNITED KINGDOM 1. Responsibility 1.Responsibility for Taxes; Tax Withholding. The following provision supplements Section 10 6 of the Agreement: If payment or withholding of the income tax due in connection with the Award Option is not made within ninety (90) days after the ...end of the U.K. tax year in which the event giving rise to the income tax liability occurred or such other period specified in Section 222(1)(c) of the U.K. Income Tax (Earnings and Pensions) Act 2003 (the "Due Date"), the amount of any uncollected income tax shall constitute a loan owed by you the Optionee to your the Employer, effective as of the Due Date. You agree The Optionee agrees that the loan will bear interest at the then-current official rate of Her Majesty's Revenue & Customs ("HMRC"), it shall be immediately due and repayable, and the Company or Employer may recover it at any time thereafter by any of the means referred to in Section 10 6 of the Agreement. Notwithstanding the foregoing, if you are the Optionee is a director or executive officer of the Company (within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), will not be eligible for a loan to cover the income tax liability. In the event that you are the Optionee is a director or executive officer and the income tax is not collected from or paid by you the Optionee by the Due Date, the amount of any uncollected income tax may constitute a benefit to you the Optionee on which additional income tax and national insurance contributions ("NICs") will be payable. You The Optionee will be responsible for paying and reporting any income tax due on this additional benefit directly to HMRC under the self-assessment regime, and for reimbursing the Company or your the Employer (as applicable) the value of any employee NICs due on this additional benefit. View More
Termination for Cause. "Cause" shall be defined as indicated in Section 7 of the Agreement, Plan, irrespective of whether the termination of Service is or is not considered a fair termination (i.e., "despido procedente") under Spanish legislation. UNITED KINGDOM 1. Responsibility 1.Responsibility for Taxes; Tax Withholding. The following provision supplements Section 10 5 of the Agreement: If payment or withholding of the income tax due in connection with the Award Restricted Stock Units is not made within ninety (90)... days after the end of the U.K. tax year in which the event giving rise to the income tax liability occurred or such other period specified in Section 222(1)(c) of the U.K. Income Tax (Earnings and Pensions) Act 2003 (the "Due Date"), the amount of any uncollected income tax shall constitute a loan owed by you the Participant to your the Employer, effective as of the Due Date. You agree The Participant agrees that the loan will bear interest at the then-current official rate of Her Majesty's Revenue & Customs ("HMRC"), it shall be immediately due and repayable, and the Company or Employer may recover it at any time thereafter by any of the means referred to in Section 10 5 of the Agreement. Notwithstanding the foregoing, if you are the Participant is a director or executive officer of the Company (within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), will not be eligible for a loan to cover the income tax liability. In the event that you are the Participant is a director or executive officer and the income tax is not collected from or paid by you the Participant by the Due Date, the amount of any uncollected income tax may constitute a benefit to you the Participant on which additional income tax and national insurance contributions ("NICs") will be payable. You The Participant will be responsible for paying and reporting any income tax due on this additional benefit directly to HMRC under the self-assessment regime, and for reimbursing the Company or your the Employer (as applicable) the value of any employee NICs due on this additional benefit. View More
