Termination of Employment Contract Clauses (4,973)

Grouped Into 164 Collections of Similar Clauses From Business Contracts

This page contains Termination of Employment clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Termination of Employment. If the Employer determines that the Employee is a "key employee" of a publicly traded corporation within the meaning of Code section 409A(a)(2)(B)(i), then any distributions to the Employee arising on account of the Employee's Termination of Employment shall be suspended for six months following such Termination of Employment. Any payments that were otherwise payable during the six-month suspension period referred to in the preceding sentence, will be paid as soon as administratively practicable..., but not more than 90 days, after the end of such six-month suspension period. View More
Found in VISANT CORP contract
Termination of Employment. [If the Employee experiences a Termination of Employment prior to the Vesting Date, no benefits whatoever shall be due Employee under the terms of the Agreement.] If the Employer determines that the Employee is a "key employee" of a publicly traded corporation within the meaning of Code section 409A(a)(2)(B)(i), then any distributions to the Employee arising on account of the Employee's Termination of Employment shall be suspended for six months following such Termination of Employment. Any paym...ents that were otherwise payable during the six-month suspension period referred to in the preceding sentence, will be paid as soon as administratively practicable, but not more than 90 days, after the end of such six-month suspension period. View More
Found in VISANT CORP contract
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Termination of Employment. Upon termination of your employment with the Company and its Affiliates for any reason other than Qualified Retirement, death or Disability, any of the RSUs that are unvested as of the termination date, together with any accrued dividend equivalents, will be canceled for no value. Upon termination of your employment with the Company and its Affiliates by reason of Qualified Retirement, death or Disability, any of the RSUs that are unvested as of the termination date shall immediately vest on suc...h termination date. Subject to Section 6, within sixty (60) days after the vesting date for any RSUs pursuant to this Section 4, the Company will deliver to you or your legal representative the number of shares of Stock underlying the number of vested RSUs associated with such vesting date (or such cash or other property as the Committee determines); provided, however, if you are a "specified employee" as defined in Treasury Regulation Section 1.409A-1(i) or any successor provision, on the date of your Qualified Retirement, then, irrespective of any other provision contained in this Agreement, any shares vesting pursuant to a Qualified Retirement shall be delivered on the first day of the seventh month following such termination (or, if earlier, the date of your death). For purposes of this Agreement, (i) "Qualified Retirement" shall mean that (a) you shall have a combined age and years of service with the Company and its Affiliates of at least 65 years, provided further that you must (I) be at least 55 years old and (II) have a minimum of five years of service with the Company and its Affiliates and (b) you must execute a release containing non-compete, non-solicitation and non-disparagement provisions in a form and with the content satisfactory to the Company; and (ii) "Disability" shall have the meaning set forth in Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder. Authorized leave of absence or absence on military or government service shall not constitute termination of your employment for this purpose so long as either (a) such absence is for a period of no more than 90 calendar days or (b) your right to re-employment after such absence is guaranteed either by statute or by contract. View More
Found in American Tower Corp. contract
Termination of Employment. Upon termination of your employment with the Company and its Affiliates for any reason other than Qualified Retirement, death or Disability, any portion of the RSUs Option that are is unvested as of the termination date, together with any accrued dividend equivalents, date will be canceled for no value. Upon termination of your employment with the Company and its Affiliates by reason of Qualified Retirement, death or Disability, any portion of the RSUs Option that are is unvested as of the termi...nation date shall immediately vest on such termination date. Subject to Section 6, within sixty (60) days after the vesting date If your termination is: • for any RSUs pursuant reason other than Qualified Retirement, death or Disability, any portion of the Option that is then vested may be exercised only during the 90 calendar days following the termination date; or • due to this Section 4, the Company will deliver to you or your legal representative the number of shares of Stock underlying the number of vested RSUs associated with such vesting date (or such cash or other property as the Committee determines); provided, however, if you are a "specified employee" as defined in Treasury Regulation Section 1.409A-1(i) or any successor provision, on the date of your Qualified Retirement, then, irrespective of death or Disability, the Option may be exercised only during the three calendar years following the termination date. In any other provision contained in this Agreement, event, the Option will expire without value on, and may not be exercised as to any shares vesting pursuant to a Qualified Retirement after, the Expiration Date. Authorized leave of absence or absence on military or government service shall be delivered on the first day of the seventh month following such not constitute termination (or, if earlier, the date of your death). employment for this purpose so long as either (a) such absence is for a period of no more than 90 calendar days or (b) your right to re-employment after such absence is guaranteed either by statute or by contract. For purposes of this Agreement, (i) "Qualified Retirement" shall mean that (a) you shall have a combined age and years of service with the Company and its Affiliates of at least 65 years, provided further that you must (I) be at least 55 years old and (II) have a minimum of five years of service with the Company and its Affiliates and (b) you must execute a release containing non-compete, non-solicitation and non-disparagement provisions in a form and with the content satisfactory to the Company; and (ii) "Disability" shall have the meaning set forth in Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder. Authorized leave of absence It is your responsibility to exercise the Option, if at all, before the Expiration Date or absence on military or government service shall any earlier date that the Option is terminated. The Company is not constitute termination of your employment responsible for this purpose so long as either (a) such absence is for a period of no more than 90 calendar days or (b) notifying you before your right to re-employment after such absence is guaranteed either by statute or by contract. exercise ceases and will not make any adjustment if the Option terminates unexercised. View More
Found in American Tower Corp. contract
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Termination of Employment. 6.1. Termination—Generally. Subject to Sections 6.2 and 7 hereof, if the Grantee's employment with the Company or any of its Subsidiaries is terminated on or after the Grant Date for any reason, the Option shall (a) if not vested and exercisable at the time of such termination, immediately expire without payment of consideration therefor and (b) if vested and exercisable at the time of termination, remain exercisable by the Grantee at any time prior to the earlier to occur of (i) the end of the ...thirty (30) day period immediately following the date of the Grantee's termination (and such thirty (30) day period shall be extended during any period in which the Grantee is prohibited by law or Company insider trading policies from exercising such Option, to the extent such extension complies with the requirements of Treasury regulation section 1.409A-1(b)(5)(v)(C)(1)) and (ii) the Expiration Date. 6.2. Qualifying Terminations. If the Grantee's employment with the Company or any of its Subsidiaries is terminated for any of the reasons set forth below (and subject to Section 7 hereof), in each case if such termination occurs on or after the Grant Date and prior to the third anniversary of the Grant Date, a Pro Rata Portion (as defined below) of the Option shall, if not then vested, vest and become exercisable as of the date of such termination, and the remaining portion of the Option that is not vested and exercisable at the time of such termination shall immediately expire without consideration therefor. The Pro Rata Portion of the Option, or the entire Option if such termination occurs on or after the third anniversary of the Grant Date, shall remain exercisable by the Grantee at any time prior to the earlier to occur of (i) the end of the ninety (90) day period immediately following the date of the Grantee's termination (and such ninety (90) day period shall be extended during any period in which the Grantee is prohibited by law or Company insider trading policies from exercising such Option) and (ii) the Expiration Date; provided, however, that in the event of a qualified termination under Section 6.2.1 below the Pro Rata Portion of the Option or the entire Option, as applicable, shall remain exercisable by the Grantee's legatee or legatees under his or her will, or by his or her personal representatives or distributees, as applicable, for a period ending on the earlier to occur of (a) one (1) year following such qualified termination, or (b) the Expiration Date. The "Pro Rata Portion" shall mean the total number of Shares subject to the Option multiplied by a fraction, the numerator of which is the number of days between (A) the Grant Date and (B) the date of the Grantee's termination of employment, and the denominator of which is 1,095. 6.2.1 death 6.2.2 Disability (as defined in the Plan) 6.2.3 Redundancy (as defined below) 6.2.4 Retirement (as defined below) 6.2.5 If the Grantee is not subject to an Employment Agreement, termination for any other reason, other than a termination by the Company for Cause (as defined in the Plan), if there are exceptional circumstances and the Committee so decides prior to the date of the termination of the Grantee's employment. 6.2.6 If the Grantee is subject to an Employment Agreement, termination by the Company for any reason other than for Cause as defined therein. 6.2.7 If the Grantee is subject to an Employment Agreement, termination by the Grantee for Good Reason as defined therein. 6.3 Definitions. For purposes of this Agreement: (a) "Employment Agreement" means an effective, written employment agreement between the Grantee and the Company. (b) "Redundancy" means the Company or any of its Subsidiaries, as applicable, has ceased, or intends to cease, to carry on the business or particular business function for the purposes of which the Grantee is or was employed by it, or has ceased, or intends to cease, to carry on that business or particular business function in the place where the Grantee is or was employed. (c) "Retirement" means retirement at or after age 65, or early retirement on or after age 55 with 10 years of service with the Company. View More
Found in Cloud Peak Energy Inc. contract
Termination of Employment. 6.1. 5.1 Termination—Generally. Subject to Sections 6.2 5.2 and 7 hereof, if the Grantee's employment with the Company or any of its Subsidiaries is terminated on or after before the Grant Date for any reason, last day of the Option Performance Period, the Performance Share Units granted hereunder shall (a) if not vested and exercisable at immediately be forfeited to the time of such termination, immediately expire Company in their entirety without payment of consideration therefor and (b) if ve...sted and exercisable at the time of termination, remain exercisable by to the Grantee at any time prior to the earlier to occur of (i) the end of the thirty (30) day period immediately following the date of the Grantee's termination (and such thirty (30) day period shall be extended during any period in which and the Grantee is prohibited by law or Company insider trading policies from exercising such Option, shall not be entitled to the extent such extension complies with the requirements of Treasury regulation section 1.409A-1(b)(5)(v)(C)(1)) and (ii) the Expiration Date. 6.2. any Shares under this Agreement. 2 5.2 Qualifying Terminations. If the Grantee's employment with the Company or any of its Subsidiaries is terminated for any of the reasons set forth below (and subject to Section 7 hereof), in each case if such termination occurs on or after before the Grant Date and prior to the third anniversary last day of the Grant Date, a Pro Rata Portion (as defined below) of Performance Period, the Option shall, if not then vested, vest and become exercisable as of the date of such termination, and the remaining portion of the Option that is not vested and exercisable at the time of such termination shall immediately expire without consideration therefor. The Pro Rata Portion of the Option, Grantee, or the entire Option if such termination occurs on or after the third anniversary of the Grant Date, shall remain exercisable by the Grantee at any time prior to the earlier to occur of (i) the end of the ninety (90) day period immediately following the date of the Grantee's termination (and such ninety (90) day period shall be extended during any period in which the Grantee is prohibited by law or Company insider trading policies from exercising such Option) and (ii) the Expiration Date; provided, however, that in the event of a qualified termination under Section 6.2.1 below the Pro Rata Portion of the Option or the entire Option, as applicable, shall remain exercisable by the Grantee's legatee or legatees under his or her will, or by his or her personal representatives or distributees, as applicable, for shall be entitled to a period ending on Pro Rata Portion (as defined below) of the earlier to occur of (a) one (1) year following such qualified termination, or (b) the Expiration Date. Award. The "Pro Rata Portion" shall mean the total number of Shares subject which otherwise would have vested and become payable pursuant to Section 4 hereof had the Grantee remained employed to the Option end of the Performance Period, multiplied by a fraction, the numerator of which is the number of days between (A) the Grant Date and (B) the date of the Grantee's termination of employment, and the denominator of which is 1,095. 6.2.1 The Grantee's Pro Rata Portion of the Award shall be paid following the completion of the Performance Period, based on actual performance achieved, in accordance with Section 4 of this Agreement. 5.2.1 death 6.2.2 5.2.2 Disability (as defined in the Plan) 6.2.3 5.2.3 Redundancy (as defined below) 6.2.4 5.2.4 Retirement (as defined below) 6.2.5 5.2.5 If the Grantee is not subject to an Employment Agreement, termination for any other reason, other than a termination by the Company for Cause (as defined in the Plan), if there are exceptional circumstances and the Committee so decides prior to the date of the termination of the Grantee's employment. 6.2.6 5.2.6 If the Grantee is subject to an Employment Agreement, termination by the Company for any reason other than for Cause as defined therein. 6.2.7 5.2.7 If the Grantee is subject to an Employment Agreement, termination by the Grantee for Good Reason as defined therein. 6.3 5.3 Definitions. For purposes of this Agreement: (a) "Employment Agreement" means an effective, written employment agreement between the Grantee and the Company. Notwithstanding any provision herein to the contrary, in the event of any inconsistency between this Section 5 or Section 7 and any Employment Agreement, the terms of the Employment Agreement shall control. (b) "Redundancy" means the Company or any of its Subsidiaries, as applicable, has ceased, or intends to cease, to carry on the business or particular business function for the purposes of which the Grantee is or was employed by it, or has ceased, or intends to cease, to carry on that business or particular business function in the place where the Grantee is or was employed. (c) "Retirement" means retirement at or after age 65, or early retirement on at or after age 55 with 10 years of service with the Company. 3 6. Adjustments. In the event of a Change in Capitalization, the Committee shall make equitable adjustments to the number and class of Shares subject to this Agreement as provided under the terms of the Plan. The Committee's adjustment shall be made in accordance with the provisions of Article 12 of the Plan and shall be final, binding and conclusive for all purposes of the Plan and this Agreement. Unless the Committee determines otherwise, the number of Performance Share Units subject to this Award shall always be a whole number. View More
Found in Cloud Peak Energy Inc. contract
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Termination of Employment. If before a Change in Control occurs the Participant's employment with all Employers is terminated by an Employer, such that the Participant is entitled to receive benefits under any severance plan maintained by the Company, or pursuant to any agreement between the Company and the Participant, then, if the Participant's employment is terminated by an Employer after the first calendar quarter of the Bonus Period and prior to payment of the Bonus Award for the Bonus Period in which the Participant...'s employment is terminated, the Participant shall be entitled to receive for the Bonus Period that includes the date of the Participant's termination of employment the Bonus Award that would result based on actual business results for the entire Bonus Period, taking into account the Corporate Performance Objectives achieved during the Bonus Period, and actual individual performance levels achieved for the entire Bonus Period, calculated on the same basis as other similarly-situated Participants, except that the Bonus Award for that Bonus Period shall be based solely upon the Participant's Compensation for that Bonus Period through the time of termination of employment. Each Participant described above also shall be entitled to receive any Bonus Award payable for any Bonus Period that ended before the termination of the Participant's employment. Such Bonus Awards shall be paid at the normal time of the bonus payout as if the Participant had remained employed but in no event later than the 15th day of the third month following the end of the Bonus Period. If before a Change in Control occurs the Participant's employment with all Employers is terminated by an Employer, such that the Participant is entitled to receive benefits under any severance plan maintained by the Company, if the Participant's employment is terminated by an Employer during the first calendar quarter of the Bonus Period, the Participant shall not be entitled to receive any Bonus Award for the Bonus Period that includes the date of the Participant's termination of employment. View More
Found in EarthLink Holdings Corp. contract
Termination of Employment. If before a Change in Control occurs the Participant's employment with all Employers GreenSky and its Affiliates is terminated by an Employer, such that the Participant is entitled to receive benefits under any severance plan maintained by the Company, or pursuant to any agreement between the Company and the Participant, then, if the Participant's employment is terminated by an Employer after the first calendar quarter of during the Bonus Period and prior to payment on account of the Bonus Award... for Participant's death, Disability or Retirement, subject to Section 9.11 of the Bonus Period in which the Participant's employment is terminated, Plan, the Participant shall be entitled to receive for the Bonus Period that includes the date of the Participant's termination of employment death, Disability or Retirement, the Bonus Award that would result based on actual business results for the entire 9 Bonus Period, taking into account the Corporate Performance Objectives and levels of Corporate Performance Objectives achieved during the Bonus Period, and actual individual performance levels achieved for the entire Bonus Period, calculated on the same basis as other similarly-situated Participants, and the Individual Performance Factors or levels of Individual Performance Factors at the actual results level of achievement for the Bonus Period with respect to objective Individual Performance Factors and at 100% of the related Corporate Performance Bonus Multiplier with respect to subjective Individual Performance Factors, except that the Participant's Bonus Award for that Bonus Period shall be based solely upon the Participant's Compensation for that Bonus Period through the time of termination of employment. Participant's death, Disability or Retirement. Each Participant described above herein also shall be entitled to receive any Bonus Award payable for any Bonus Period that ended before the termination Participant's death, Disability or Retirement, on the same basis as the Bonus Award for the Bonus Period that includes the date of the Participant's employment. death, Disability or Retirement. Such Bonus Awards shall be paid at the normal time of the bonus payout as if the Participant had remained employed but in no event later than the 15th fifteenth day of the third month following the end of the Bonus Period. 8.2 Payment after Termination of Employment Other Than on Account of Death, Disability or Retirement. If before a Change in Control occurs the Participant's employment with all Employers GreenSky and its Affiliates is terminated by an Employer, such that during the Participant is entitled to receive benefits under any severance plan maintained by the Company, if Bonus Period other than on account of the Participant's employment is terminated by an Employer during the first calendar quarter death, Disability or Retirement, subject to Section 9.11 of the Bonus Period, Plan, the Participant shall not be entitled to receive any a Bonus Award for the Bonus Period that includes the date termination of the Participant's employment other than on account of the Participant's death, Disability or Retirement, unless the Committee specifically approves otherwise. The Committee has the discretion to pay the Participant's Bonus Award that would result based on actual business results for the entire Bonus Period (based solely upon the Participant's Compensation for that Bonus Period through the time of Participant's termination of employment. employment), or any portion thereof, notwithstanding the termination of the Participant's employment during the Bonus Period other than on account of the Participant's death, Disability or Retirement. View More
Found in GreenSky, Inc. contract
Termination of Employment. If before a Change in Control occurs the Participant's employment with all Employers is terminated by an Employer, such that the Participant is entitled to receive benefits under any severance plan maintained by the Company, or pursuant to any agreement between the Company and the Participant, then, if the Participant's employment is terminated by an Employer after the first calendar quarter of during the Bonus Period and prior to payment on account of the Bonus Award for Participant's death, Di...sability or Retirement, subject to Section 9.11 of the Bonus Period in which the Participant's employment is terminated, Plan, the Participant shall be entitled to receive for the Bonus Period that includes the date of the Participant's termination of employment death, Disability or Retirement, the Bonus Award that would result based on actual business results for the entire Bonus Period, taking into account the Corporate Performance Objectives and levels of Corporate Performance Objectives achieved during the Bonus Period, and actual individual performance levels achieved for the entire Bonus Period, calculated on the same basis as other similarly-situated Participants, except that the Bonus Award for that Bonus Period shall be based solely upon the Participant's Compensation for that Bonus Period through the time of termination of employment. Participant's death, Disability or Retirement. Each Participant described above herein also shall be entitled to receive any Bonus Award payable for any Bonus Period that ended before the termination Participant's death, Disability or Retirement, on the same basis as the Bonus Award for the Bonus Period that includes the date of the Participant's employment. death, Disability or Retirement. Such Bonus Awards shall be paid at the normal time of the bonus payout as if the Participant had remained employed but in no event later than the 15th day of the third month following the end of the Bonus Period. 8.2 Payment after Termination of Employment Other Than on Account of Death, Disability or Retirement. If before a Change in Control occurs the Participant's employment with all Employers is terminated by an Employer, such that during the Participant is entitled to receive benefits under any severance plan maintained by the Company, if Bonus Period other than on account of the Participant's employment is terminated by an Employer during the first calendar quarter death, Disability or Retirement, subject to Section 9.11 of the Bonus Period, Plan, the Participant shall not be entitled to receive any a Bonus Award for the Bonus Period that includes the date termination of the Participant's employment other than on account of the Participant's death, Disability or Retirement, unless the Committee specifically approves otherwise. The Committee has the discretion to pay the Participant's Bonus Award that would result based on actual business results for the entire Bonus Period (based solely upon the Participant's Compensation for that Bonus Period through the time of Participant's termination of employment. employment), or any portion thereof, notwithstanding the termination of the Participant's employment during the Bonus Period other than on account of the Participant's death, Disability or Retirement. View More
Found in Newell Brands contract
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