Termination of Employment Clause Example with 5 Variations from Business Contracts

This page contains Termination of Employment 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 of Employment. 4.1 General. Subject to the provisions of paragraph 4.2 below, if the Grantee terminates employment with the Company for any reason (including upon a termination for Cause), any unvested Units will be canceled and forfeited as of the date of Grantee's termination of employment. In other words, the Grantee must be employed by the Company on the relevant Vesting Date to receive any payment with respect to the Units that are scheduled to vest on such Vesting Date. 4.2 Change in Control. In the even...t the Company terminates the Grantee's employment without Cause (including, if applicable, a termination for Good Reason as defined in the Grantee's Employment Agreement or similar document) within two (2) years following a Change in Control, then all Units earned pursuant to paragraph 2.1 but unvested shall become immediately vested. The Vesting Date for any such earned Units that vest pursuant to this paragraph 4.2 shall be the date of the Grantee's termination of employment. View More
Found in ON SEMICONDUCTOR CORP contract

Variations of a "Termination of Employment" Clause from Business Contracts

Termination of Employment. 4.1 General. Subject to the provisions of paragraph Section 4.2 below, if the Grantee terminates employment with the Company for any reason (including upon a termination for Cause), any unvested Units will be canceled and forfeited as of the date of Grantee's termination of employment. In other words, the Grantee must be employed by the Company on the relevant Vesting Date to receive any payment with respect to the Units that are scheduled to vest on such Vesting Date. 4.2 Change in Control. In ...the event the Company terminates the Grantee's employment without Cause (including, if applicable, a termination for Good Reason as defined in the Grantee's Employment Agreement or similar document) within two (2) years following a Change in Control, then all the Total Earned Units earned pursuant to paragraph 2.1 but unvested described in Section 3 shall become immediately vested. The Vesting Date for any such earned Units that vest pursuant to this paragraph Section 4.2 shall be the date of the Grantee's termination of employment. 6 5. Time and Form of Payment. Subject to the provisions of this Award Agreement and the Plan, as Units vest on the Vesting Dates set forth in Section 3 or Section 4.2, as the case may be, the Company will deliver to the Grantee the same number of whole shares of Stock, rounded up or down. Subject to Section 21, the Company shall deliver the vested shares (if any) within 15 days of the applicable Vesting Date. View More
Found in ON SEMICONDUCTOR CORP contract
Termination of Employment. 4.1 General. 4.1General. Subject to the provisions of paragraph 4.2 below, (a) if the Company terminates Grantee's employment without Cause or Grantee's employment is terminated due to death or disability prior to the Vesting Date, then Units shall vest on a pro-rated basis corresponding with Grantee's actual service during the Performance Measurement Period; and (b) if Company terminates Grantee's employment for Cause, or Grantee terminates employment with the Company for any reason (including ...upon a termination for Cause), voluntarily, any unvested Units will be canceled and forfeited as of the date of Grantee's termination of employment. In other words, except as otherwise expressly provided to the contrary in paragraphs 4.1 and 4.2, Grantee must be continuously employed by the Company on through the relevant Vesting Date in order to receive any payment with respect to the Units that are scheduled to vest on such Vesting Date. 4.2 Change 4.2Change in Control. In the event the Company terminates the Grantee's employment without Cause (including, if applicable, a termination for Good Reason as defined in the Grantee's Employment Agreement or similar document) within two (2) years following a 4 Restricted Stock Performance 111320 Change in Control, then all Units earned pursuant to paragraph 2.1 but unvested shall become immediately vested. The Vesting Date for any such earned Units that vest pursuant to this paragraph 4.2 shall be the date of the Grantee's termination of employment. View More
Found in American Vanguard Corporation contract
Termination of Employment. 4.1 General. Subject to the provisions of paragraph 4.2 below, (a) if the Company terminates Grantee's employment without Cause or Grantee's employment is terminated due to death or disability prior to the Vesting Date, then Units shall vest on a pro-rate basis corresponding with Grantee's actual service during the Performance Period; and (b) if Company terminates Grantee's employment for Cause, or Grantee terminates employment with the Company for any reason (including upon a termination for Ca...use), voluntarily, any unvested Units will be canceled and forfeited as of the date of Grantee's termination of employment. In other words, except as otherwise expressly provided to the contrary in paragraphs 4.1 and 4.2, Grantee must be continuously employed by the Company on through the relevant Vesting Date in order to receive any payment with respect to the Units that are scheduled to vest on such Vesting Date. 3 4.2 Change in Control. In the event the Company terminates the Grantee's employment without Cause (including, if applicable, a termination for Good Reason as defined in the Grantee's Employment Agreement or similar document) within two (2) years following a Change in Control, then all Units earned pursuant to paragraph 2.1 but unvested shall become immediately vested. The Vesting Date for any such earned Units that vest pursuant to this paragraph 4.2 shall be the date of the Grantee's termination of employment. View More
Found in American Vanguard Corporation contract
Termination of Employment. 4.1 General. Subject to the provisions of paragraph 4.2 below, (a) if the Company terminates Grantee's employment without Cause or Grantee's employment is terminated due to death or disability prior to the Vesting Date, then Units shall vest on a pro-rated basis corresponding with Grantee's actual service during the Performance Period; and (b) if Company terminates Grantee's employment for Cause, or Grantee terminates employment with the Company for any reason (including upon a termination for C...ause), voluntarily, any unvested Units will be canceled and forfeited as of the date of Grantee's termination of employment. In other words, except as otherwise expressly provided to the contrary in paragraphs 4.1 and 4.2, Grantee must be continuously employed by the Company on through the relevant Vesting Date in order to receive any payment with respect to the Units that are scheduled to vest on such Vesting Date. 4.2 Change in Control. In the event the Company terminates the Grantee's employment without Cause (including, if applicable, a termination for Good Reason as defined in the Grantee's Employment Agreement or similar document) within two (2) years following a Change in Control, then all Units earned pursuant to paragraph 2.1 but unvested shall become immediately vested. The Vesting Date for any such earned Units that vest pursuant to this paragraph 4.2 shall be the date of the Grantee's termination of employment. View More
Found in American Vanguard Corporation contract
Termination of Employment. 4.1 General. Subject to the provisions of paragraph Section 4.2 below, if the Grantee terminates employment with the Company for any reason (including upon a termination for Cause), any unvested Units will be canceled and forfeited as of the date of Grantee's termination of employment. In other words, the Grantee must be employed by the Company on the relevant Vesting Date to receive any payment with respect to the Units that are scheduled to vest on such Vesting Date. 4.2 Change in Control. In ...the event the Company terminates the Grantee's employment without Cause (including, if applicable, a termination for Good Reason as defined in the Grantee's Employment Agreement or similar document) within two (2) years following a Change in Control, then all the Total Earned Units earned pursuant to paragraph 2.1 but unvested described in Section 3 shall become immediately vested. The Vesting Date for any such earned Units that vest pursuant to this paragraph Section 4.2 shall be the date of the Grantee's termination of employment. View More
Found in ON SEMICONDUCTOR CORP contract