Termination of Employment Clause Example with 74 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. Upon a Participant's ceasing to be an Eligible Employee, for any reason, he or she will be deemed to have elected to withdraw from the Plan and the Contributions credited to such Participant's account during the Offering Period but not yet used to purchase shares of Common Stock under the Plan will be returned to such Participant or, in the case of his or her death, to the person or persons entitled thereto under Section 15, and such Participant's option will be automatically terminated. Unless ...otherwise provided by the Administrator, a Participant whose employment transfers between entities through a termination with an immediate rehire (with no break in service) by the Company or a Designated Company will not be treated as terminated under the Plan; however, if a Participant transfers from an Offering under the 423 Component to the Non-423 Component, the exercise of the option will be qualified under the 423 Component only to the extent it complies with Section 423 of the Code, unless otherwise provided by the Administrator.View More
Variations of a "Termination of Employment" Clause from Business Contracts
Termination of Employment. Upon a Participant's ceasing to be an Eligible Employee, for any reason, he or she will such Participant shall be deemed to have elected to withdraw from the Plan Plan, and the Contributions payroll deductions credited to such Participant's account during the Offering Period but not yet used Period, plus any balance retained in his account from a prior Offering - 5 - Period, if any, shall be paid to purchase shares of Common Stock under the Plan will be returned to such Participant or, him, or i...n the case of his or her death, to the person or persons entitled thereto under Section 15, 15 hereof, as soon as reasonably practicable, and such Participant's option will for the Offering Period shall be automatically terminated. Unless otherwise provided by the Administrator, a Participant whose employment transfers between entities through a termination with an immediate rehire (with no break in service) by the Company or a Designated Company will not be treated as terminated under the Plan; however, if a Participant transfers from an Offering under the 423 Component to the Non-423 Component, the exercise of the option will be qualified under the 423 Component only to the extent it complies with Section 423 of the Code, unless otherwise provided by the Administrator.View More
Termination of Employment. Upon a Participant's ceasing to be an Eligible Employee, for any reason, he or she will such Participant shall be deemed to have elected to withdraw from the Plan Plan, and the Contributions payroll deductions credited to such Participant's account during the Offering Period but not yet used Period, plus any balance retained in his or her account from a prior Offering Period, if any, shall be paid to purchase shares of Common Stock under the Plan will be returned to such Participant or, Particip...ant, or in the case of his or her death, to the person or persons entitled thereto under Section 15, 15 of the Plan, as soon as reasonably practicable, and such Participant's option will for the Offering Period shall be automatically terminated. Unless otherwise provided by the Administrator, a Participant whose employment transfers between entities through a termination with an immediate rehire (with no break in service) by the Company or a Designated Company will not be treated as terminated under the Plan; however, if a Participant transfers from an Offering under the 423 Component to the Non-423 Component, the exercise of the option will be qualified under the 423 Component only to the extent it complies with Section 423 of the Code, unless otherwise provided by the Administrator.View More
Termination of Employment. Upon a Participant's participant's ceasing to be an Eligible Employee, for any reason, he or she will shall be deemed to have elected to withdraw from the Plan and the Contributions payroll deductions credited to such Participant's participant's account during the Offering Period but not yet used to purchase shares of Common Stock under exercise the Plan will option shall be returned to such Participant participant or, in the case of his or her death, to the person or persons entitled thereto un...der Section 15, 15 hereof, and such Participant's participant's option will shall be automatically terminated. Unless otherwise provided by 6 12. Interest. No interest shall accrue on the Administrator, payroll deductions of a Participant whose employment transfers between entities through a termination with an immediate rehire (with no break participant in service) by the Company or a Designated Company will not be treated as terminated under the Plan; however, if a Participant transfers from an Offering under the 423 Component to the Non-423 Component, the exercise of the option will be qualified under the 423 Component only to the extent it complies with Section 423 of the Code, unless otherwise provided by the Administrator. Plan. View More
Termination of Employment. Upon a Participant's participant's ceasing to be an Eligible Employee, for any reason, he or she will shall be deemed to have elected to withdraw from the Plan and the Contributions payroll deductions credited to such Participant's participant's account during the Offering Period but not yet used to purchase shares of Common Stock under the Plan will shall be returned to such Participant participant or, in the case of his or her death, to the person or persons entitled thereto under Section 15, ...and such Participant's participant's option will shall be automatically terminated. Unless otherwise provided by the Administrator, The preceding sentence C-6 Exhibit 10.3 notwithstanding, a Participant whose participant who receives payment in lieu of notice of termination of employment transfers between entities through a termination with an immediate rehire (with no break in service) by the Company or a Designated Company will not shall be treated as terminated under continuing to be an Employee for the Plan; however, if a Participant transfers from an Offering under participant's customary number of hours per week of employment during the 423 Component period in which the participant is subject to the Non-423 Component, the exercise such payment in lieu of the option will be qualified under the 423 Component only to the extent it complies with Section 423 of the Code, unless otherwise provided by the Administrator. notice. View More
Termination of Employment. Upon a Participant's participant's ceasing to be an Eligible Employee, for any reason, he or she will shall be deemed to have elected to withdraw from the Plan and the Contributions payroll deductions credited to such Participant's participant's account during the Offering Period but not yet used to purchase shares of Common Stock under the Plan will shall be returned paid to such Participant participant or, in the case of his or her death, to the person or persons entitled thereto under Section...15, 15 hereof, as soon as reasonably practicable and such Participant's participant's option will for the Offering Period shall be automatically terminated. Unless otherwise provided by the Administrator, a Participant whose employment transfers between entities through a termination with an immediate rehire (with no break in service) by the Company or a Designated Company will not be treated as terminated under the Plan; however, if a Participant transfers from an Offering under the 423 Component to the Non-423 Component, the exercise of the option will be qualified under the 423 Component only to the extent it complies with Section 423 of the Code, unless otherwise provided by the Administrator.View More
Termination of Employment. Upon a Participant's participant's ceasing to be an Eligible Employee, for any reason, he or she will shall be deemed to have elected to withdraw from the Plan and the Contributions payroll deductions credited to such Participant's participant's account during the Offering Period but not yet used to purchase shares of Common Stock under exercise the Plan will option shall be returned to such Participant participant or, in the case of his or her death, to the person or persons entitled thereto un...der Section 15, 15 hereof, and such Participant's participant's option will shall be automatically terminated. Unless otherwise provided by the Administrator, The preceding sentence notwithstanding, a Participant whose participant who receives payment in lieu of notice of termination of employment transfers between entities through a termination with an immediate rehire (with no break in service) by the Company or a Designated Company will not shall be treated as terminated under continuing to be an Employee for the Plan; however, if a Participant transfers from an Offering under participant's customary number of hours per week of employment during the 423 Component period in which the participant is subject to the Non-423 Component, the exercise such payment in lieu of the option will be qualified under the 423 Component only to the extent it complies with Section 423 of the Code, unless otherwise provided by the Administrator. notice. View More
Termination of Employment. Upon a Participant's ceasing to be an Eligible Employee, for any reason, he or she will shall be deemed to have elected to withdraw from the Plan and the Contributions payroll deductions credited to such Participant's notional account during the Offering Period but not yet used to purchase shares of Common Stock under exercise the Plan will option shall be returned to such Participant or, in the case of his or her death, to the person or persons entitled thereto under Section 15, 15 hereof, and ...such Participant's option will shall be automatically terminated. Unless otherwise provided by the Administrator, Therefore, a Participant whose employment transfers between entities through a termination with who ceases to be an immediate rehire (with no break in service) by Employee on any day during an Offering Period, including the Company or a Designated Company will last day, shall not be treated as terminated under the Plan; however, if a Participant transfers from an eligible to purchase shares during such Offering under the 423 Component to the Non-423 Component, the exercise of the option will be qualified under the 423 Component only to the extent it complies with Section 423 of the Code, unless otherwise provided by the Administrator. Period. View More
Termination of Employment. Upon a Participant's participant's ceasing to be an Eligible Employee, Employee of the Company for any reason, reason (including without limitation upon death, disability or retirement), he or she will shall be deemed to have elected to withdraw from the Plan and the Contributions payroll deductions credited to such Participant's participant's account during the Offering Period but not yet used to purchase shares of Common Stock under exercise the Plan will option shall be returned to such Parti...cipant participant or, in the case of his or her death, to the 4 person or persons entitled thereto under Section 15, 15 hereof, and such Participant's participant's option will shall be automatically terminated. Unless otherwise provided by the Administrator, a Participant whose employment transfers between entities through a termination with an immediate rehire (with no break in service) by the Company or a Designated Company will not be treated as terminated under the Plan; however, if a Participant transfers from an Offering under the 423 Component to the Non-423 Component, the exercise of the option will be qualified under the 423 Component only to the extent it complies with Section 423 of the Code, unless otherwise provided by the Administrator.View More
Termination of Employment. Upon a Participant's ceasing to be an Eligible Employee, for any reason, he or she will shall be deemed to have elected to withdraw from the Plan and the Contributions payroll deductions credited to such Participant's account during the Offering Period but not yet used to purchase shares of Common Stock under exercise the Plan will option shall be returned to such Participant or, in the case of his or her death, to the person or persons entitled thereto under Section 15, 15 hereof, and such Part...icipant's option will shall be automatically terminated. Unless otherwise provided by the Administrator, Therefore, a Participant whose employment transfers between entities through a termination with who ceases to be an immediate rehire (with no break in service) by Employee on any day during an Offering Period, including the Company or a Designated Company will last day, shall not be treated as terminated under the Plan; however, if a Participant transfers from an eligible to purchase shares during such Offering under the 423 Component to the Non-423 Component, the exercise of the option will be qualified under the 423 Component only to the extent it complies with Section 423 of the Code, unless otherwise provided by the Administrator. Period. View More
Termination of Employment. Upon a Participant's ceasing to be an Eligible Employee, for any reason, he or she will be deemed to have elected to withdraw from the Plan and the Contributions credited to such Participant's account during the Offering Period but not yet used to purchase shares of Common Stock under the Plan will be returned to such Participant or, in the case of his or her death, to the person or persons entitled thereto under Section 15, and such Participant's option will be automatically terminated. termina...ted.12. Interest. No interest will accrue on the Contributions of a participant in the Plan, except as may be required by banking or other laws in the country outside the United States where the Participant resides, as determined by the Company, and if so required by the laws of a particular jurisdiction, shall apply to all Participants in the relevant Offering except, with respect to the Code Section 423(b) Component, to the extent otherwise permitted by U.S. Treasury Regulation Section 1.423‐2(f).13. Stock. (a) Subject to adjustment upon changes in capitalization of the Company as provided in Section 19 hereof, the maximum number of shares of Common Stock that will be made available for sale under the Plan will be two million (2,000,000) shares of Common Stock, plus an annual increase to be added on the first day of each Fiscal Year beginning with the first day of the 2014 Fiscal Year equal to the least of (i) four million (4,000,000) shares of Common Stock, (ii) two percent (2%) of the outstanding shares of Common Stock on the last day of the immediately preceding Fiscal Year, or (iii) an amount determined by the Administrator. (b) Until the shares of Common Stock are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), a Participant will only have the rights of an unsecured creditor with respect to such shares of Common Stock, and no right to vote or receive dividends or any other rights as a stockholder will exist with respect to such shares of Common Stock. (c) Shares of Common Stock to be delivered to a Participant under the Plan will be registered in the name of the Participant or in the name of the Participant and his or her spouse.14. Administration. The Plan will be administered by the Board or a Committee appointed by the Board, which Committee will be constituted to comply with Applicable Laws. The Administrator will have full and exclusive discretionary authority to construe, interpret and apply the terms of the Plan, to designate separate Offerings under the Plan, to determine eligibility, to adjudicate all disputed claims filed under the Plan and to establish such procedures that it deems necessary for the administration of the Plan (including, without limitation, to adopt such rules, procedures and sub-plans as are necessary or appropriate to permit the participation in the Plan by employees who are foreign nationals or employed outside the U.S. Unless otherwise provided determined by the Administrator, each Designated Company outside the U.S. will participate in a Participant whose employment transfers between entities through a termination with an immediate rehire (with no break in service) by separate Offering from the Company or a and each other Designated Company will not Company, and such Offerings may be treated as terminated under the Plan; however, if a Participant transfers from an Offering under the Code Section 423 Component to or the Non-423 non-423(b) Component, the exercise of the option will be qualified under the 423 Component only to the extent it complies with Section 423 of the Code, unless otherwise provided as determined by the Administrator. Without limiting the generality of the foregoing, the Administrator is specifically authorized to adopt rules and procedures regarding eligibility to participate, the definition of Compensation, handling of Contributions, making of Contributions to the Plan (including, without limitation, in forms other than payroll deductions), establishment of bank or trust accounts to hold Contributions, payment of interest, conversion of local currency, obligations to pay payroll tax, 10 determination of beneficiary designation requirements, setting restrictions on shares of Common Stock purchased under the Plan, withholding procedures and handling of stock certificates. Every finding, decision and determination made by the Administrator will, to the full extent permitted by law, be final and binding upon all parties. View More
