Termination of Employment Clause Example with 14 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. Termination of a Participant's employment for any reason, including retirement, death, disability, or the failure of a Participant to remain an eligible employee of the Company or of a Participating Corporation, immediately terminates his or her participation in this Plan. In such event, accumulated payroll deductions credited to the Participant's account will be returned to him or her or, in the case of his or her death, to his or her legal representative, without interest (except to the extent... required due to local legal requirements outside the United States). For purposes of this Section 12, an employee will not be deemed to have terminated employment or failed to remain in the continuous employ of the Company or of a Participating Corporation in the case of sick leave, military leave, or any other leave of absence approved by the Company; provided that such leave is for a period of not more than ninety (90) days or reemployment upon the expiration of such leave is guaranteed by contract or statute. The Company will have sole discretion to determine whether a Participant has terminated employment and the effective date on which the Participant terminated employment, regardless of any notice period or garden leave required under local law.View More
Variations of a "Termination of Employment" Clause from Business Contracts
Termination of Employment. Termination Upon termination of a Participant's participant's employment for any reason, including retirement, death, disability, death or the failure of a Participant participant to remain an eligible employee Eligible Employee of the Company or of a Participating Corporation, immediately terminates his or her participation in this Plan. Designated Subsidiary, such participant shall be deemed to have elected to withdraw from the Plan and the provisions of Section 12(a) hereof shall apply. In su...ch event, accumulated payroll deductions credited to the Participant's account will be returned to him or her or, in the case of his or her termination due to a participant's death, to his or her legal representative, without interest (except the distribution described in Section 12(a) shall be made to the extent required due to local legal requirements outside the United States). person(s) entitled thereto under Section 16. For purposes of this Section 12, 13, an employee will not be deemed to have terminated employment or failed to remain in the continuous employ of the Company or of a Participating Corporation Designated Subsidiary in the case of sick leave, military leave, or any other leave of absence approved by the Company; Board; provided that such leave is for a period of not more than ninety (90) days or reemployment upon the expiration of such leave is guaranteed by contract or statute. The Company will have sole discretion to determine whether a Participant has terminated employment and the effective date on which the Participant terminated employment, regardless of any notice period or garden leave required under local law.View More
Termination of Employment. 14.1 Termination of a Participant's participant's employment for any reason, including retirement, death, disability, death or the failure of a Participant participant to remain an eligible employee Employee of the Company or of a Participating Corporation, Affiliate, shall immediately terminates terminate his or her participation in this Plan. In such event, accumulated the payroll deductions credited to the Participant's participant's account will shall be returned to him or her or, in the cas...e of his or her death, to his or her legal representative, without interest (except to the extent required due to local legal requirements outside the United States). beneficiary determined under Section 13. For purposes of this Section 12, 14, an employee will Employee shall not be deemed to have terminated employment or failed to remain in the continuous employ of the Company or of a Participating Corporation Affiliate in the case of sick leave, military leave, or any other leave of absence approved by the Company; provided Board or Committee, provided, however that such leave is for a period of not more than ninety (90) days or reemployment upon the expiration of such leave is guaranteed by contract or statute. The Company will have Whether and when employment is deemed terminated for purposes of this Plan shall be determined by the Committee in its sole discretion and may be determined without regard to determine whether statutory notice periods or other periods following termination of active employment. 9 15. Return of Payroll Deductions. 15.1 In the event a Participant has participant's interest in this Plan is terminated by withdrawal, termination of employment or otherwise prior to the withdrawal deadline established by the Committee, or in the event this Plan is terminated by the Board, the Company shall deliver to the participant all payroll deductions credited to such participant's account. No interest shall accrue on the payroll deductions of a participant in this Plan, unless required by local law. In the event a participant dies with payroll deductions having been accumulated to purchase Shares at the next Purchase Date, and the effective date on which Committee receives notice of such death prior to the Participant terminated employment, regardless of any notice period or garden leave required withdrawal deadline established by the Committee, the Company shall deliver to the participant's beneficiary determined under local law. Section 13 all payroll deductions credited to such participant's account. View More
Termination of Employment. Termination of a Participant's employment for any reason, including retirement, death, disability, death or the failure of a Participant to remain an eligible employee Eligible Employee of the Company or of a Participating Corporation, Designated Subsidiary, immediately terminates his or her participation in this Plan. In such event, accumulated the payroll deductions credited to the Participant's account Account during the Offering Period but not yet used to purchase shares under the Plan will ...be returned without interest to him or her or, in the case of his or her death, to his the person or her legal representative, without interest (except to the extent required due to local legal requirements outside the United States). persons entitled thereto under Section 13 hereof. For purposes of this Section 12, 11, an employee will not be deemed to have terminated employment or failed to remain in the continuous employ of the Company or of a Participating Corporation Designated Subsidiary in the case of sick leave, military leave, or any other leave of absence approved by the Company; Board; provided that such leave is for a period of not more than ninety (90) days or reemployment upon the expiration of such leave is guaranteed by contract or statute. The Company will have sole discretion to determine whether a Participant has terminated employment and the effective date on which the Participant terminated employment, regardless of any notice period or garden leave required under local law.View More
Termination of Employment. (a) Termination of a Participant's employment for any reason, including retirement, death, disability, death or the failure of a Participant to remain an eligible employee of the Company or of a Participating Corporation, under Section 4 above, immediately terminates his or her participation in this the Plan. In such event, accumulated the payroll deductions credited to the Participant's account will be returned to him or her or, in the case of his or her death, to his or her legal representativ...e, without interest (except to interest. (b) Notwithstanding the extent required due to local legal requirements outside the United States). For purposes provisions of this Section 12, 12(a), an employee will not be deemed to have terminated employment or failed to remain in the continuous employ of the Company or of a Participating Corporation an eligible employee in the case of sick leave, military leave, or any other leave of absence approved by the Company; provided that such leave is for a period of not more than ninety (90) days or reemployment upon the expiration of such leave is guaranteed by contract or statute. The Company will have sole discretion to determine whether a Participant has terminated employment and the effective date on which the Participant terminated employment, regardless of any notice period or garden leave required under local law. Applicable Law. View More
Termination of Employment. Termination of a Participant's participant's employment for any reason, including retirement, death, disability, death or the failure of a Participant participant to remain an eligible employee of the Company or of a Participating Corporation, Subsidiary, shall immediately terminates terminate his or her participation in this Plan. In such event, accumulated the payroll deductions credited to the Participant's participant's account will shall be returned to him or her or, in the case of his or h...er death, to his or her legal representative, without interest (except to the extent required due to local legal requirements outside the United States). interest. For purposes of this Section 12, 13, an employee will shall not be deemed to have terminated employment or failed to remain in the continuous employ of the Company or of a Participating Corporation Subsidiary in the case of sick leave, military leave, or any other leave of absence approved by the Company; provided Committee, provided, however that such leave is for a period of not more than ninety (90) days or reemployment upon the expiration of such leave is guaranteed by contract or statute. The Company will have sole discretion to determine whether a Participant has terminated employment and the effective date on which the Participant terminated employment, regardless of any notice period or garden leave required under local law.View More
Termination of Employment. Termination of a Participant's participant's employment for any reason, including retirement, death, disability, retirement or death or the failure of a Participant participant to remain an eligible employee of the Company or of a Participating Corporation, immediately employee, terminates his or her participation in this Plan. the Plan immediately. In such event, accumulated the payroll deductions credited to the Participant's participant's account will be returned to him or her or, in the case... of his or her death, to his or her legal representative, without interest (except to the extent required due to local legal requirements outside the United States). representative. For purposes of this Section 12, purpose, an employee will not be deemed to have terminated employment or failed to remain in the continuous employ of the Company or of a Participating Corporation in the case of sick leave, military leave, or any other leave of absence approved by the Board of Directors of the Company; provided that such leave is for a period of not more than ninety (90) days or reemployment re employment upon the expiration of such leave is guaranteed by contract or statute. The Company will have sole discretion to determine whether a Participant has terminated employment and the effective date on which the Participant terminated employment, regardless of any notice period or garden leave required under local law.View More
Termination of Employment. Termination of a Participant's participant's employment for any reason, including retirement, death, disability, death or the failure of a Participant participant to remain an eligible employee of the Company or of a Participating Corporation, Subsidiary, immediately terminates his or her participation in this Plan. In such event, accumulated the payroll deductions credited to the Participant's participant's account will be returned to him or her or, in the case of his or her death, to his or he...r legal representative, without interest (except to the extent required due to local legal requirements outside the United States). interest. For purposes of this Section 12, an employee will not be deemed to have terminated employment or failed to remain in the continuous employ of the Company or of a Participating Corporation Subsidiary in the case of sick leave, military leave, or any other leave of absence approved by the Company; Board; provided that such leave is for a period of not more than ninety (90) days or reemployment upon the expiration of such leave is guaranteed by contract or statute. The Company will have sole discretion to determine whether a Participant has terminated employment and the effective date on which the Participant terminated employment, regardless of any notice period or garden leave required under local law.View More
Termination of Employment. Termination of a Participant's employment for any reason, including retirement, death, disability, or the failure of a Participant to remain an eligible employee of the Company or of a Participating Corporation, immediately terminates his or her participation in this Plan. Plan (except as required due to local legal requirements outside the United States). In such event, accumulated payroll deductions Contributions credited to the Participant's account will be returned to him or her or, in the c...ase of his or her death, to his or her legal representative, without interest (except to the extent required due to local legal requirements outside the United States). For purposes of this Section 12, an employee will not be deemed to have terminated employment or failed to remain in the continuous employ of the Company or of a Participating Corporation in the case of sick leave, military leave, or any other leave of absence approved by the Company; provided that such leave is for a period of not more than ninety (90) days three (3) months or reemployment upon the expiration of such leave is guaranteed by contract or statute. The Company will have sole discretion to determine whether a Participant has terminated employment and the effective date on which the Participant terminated employment, regardless of any notice period or garden leave required under local law. 13. RETURN OF CONTRIBUTIONS. In the event a Participant's interest in this Plan is terminated by withdrawal, termination of employment or otherwise, or in the event this Plan is terminated by the Board, the Company shall deliver to the Participant all accumulated Contributions credited to such Participant's account. No interest shall accrue on the Contributions of a Participant in this Plan (except to the extent required due to local legal requirements outside the United States). View More
Termination of Employment. Termination of a Participant's employment for any reason, including retirement, death, disability, or the failure of a Participant to remain an eligible employee of the Company or of a Participating Corporation, immediately terminates his or her participation in this Plan. Plan (except as required due to local legal requirements outside the United States). In such event, accumulated payroll deductions Contributions credited to the Participant's account will be returned to him or her or, in the c...ase of his or her death, to his or her legal representative, without interest (except to the extent required due to local legal requirements outside the United States). For purposes of this Section 12, an employee will not be deemed to have terminated employment or failed to remain in the continuous employ of the Company or of a Participating Corporation in the case of sick leave, military leave, or any other leave of absence approved by the Company; provided that such leave is for a period of not more than ninety (90) days or reemployment upon the expiration of such leave is guaranteed by contract or statute. The Company will have sole discretion to determine whether a Participant has terminated employment and the effective date on which the Participant terminated employment, regardless of any notice period or garden leave required under local law. 7 13. RETURN OF CONTRIBUTIONS. In the event a Participant's interest in this Plan is terminated by withdrawal, termination of employment or otherwise, or in the event this Plan is terminated by the Board, the Company shall deliver to the Participant all accumulated Contributions credited to such Participant's account. No interest shall accrue on the Contributions of a Participant in this Plan (except to the extent required due to local legal requirements outside the United States). View More
Termination of Employment. Termination of a Participant's employment for any reason, including retirement, death, disability, or the failure of a Participant to remain an eligible employee of the Company or of a Participating Corporation, immediately terminates his or her participation in this Plan. Plan (except as required due to local legal requirements outside the United States). In such event, accumulated payroll deductions Contributions credited to the Participant's account will be returned to him or her or, in the c...ase of his or her death, to his or her legal representative, without interest (except to the extent required due to local legal requirements outside the United States). For purposes of this Section 12, an employee will not be deemed to have terminated employment or failed to remain in the continuous employ of the Company or of a Participating Corporation in the case of sick leave, military leave, or any other leave of absence approved by the Company; provided that such leave is for a period of not more than ninety (90) days or reemployment upon the expiration of such leave is guaranteed by contract or statute. The Company will have sole discretion to determine whether a Participant has terminated employment and the effective date on which the Participant terminated employment, regardless of any notice period or garden leave required under local law. 13. RETURN OF CONTRIBUTIONS. In the event a Participant's interest in this Plan is terminated by withdrawal, termination of employment or otherwise, or in the event this Plan is terminated by the Board, the Company shall deliver to the Participant all accumulated Contributions credited to such Participant's account. No interest shall accrue on the Contributions of a Participant in this Plan (except to the extent required due to local legal requirements outside the United States). View More
