Termination of Services Clause Example with 4 Variations from Business Contracts

This page contains Termination of Services 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 Services. Subject to Section 6, the provisions of this Section 5 shall apply in the event the Grantee incurs a Termination of Service at any time prior to an applicable Vesting Date set forth in Section 3: (a) If the Grantee incurs a Termination of Service because of his death or Disability, any RSUs that had not become Vested RSUs prior to the date of the Termination of Service shall become Vested RSUs, and, as of the applicable Settlement Date, the Grantee (or his Beneficiary, as applicable) shall be en...titled to receive an amount determined pursuant to Section 4 hereof. (b) If the Grantee incurs a Termination of Service for any reason other than as set forth in 5(a) above, then any RSUs that had not become Vested RSUs prior to the date of the Termination of Service shall be immediately forfeited to the Company. View More
Found in Career Education Corporation contract

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

Termination of Services. Subject to Section 6, the provisions of this Section 5 shall apply in the event the Grantee incurs a Termination of Service at any time prior to an applicable Vesting Date set forth in Section 3: (a) If In the event the Grantee incurs a Termination of Service by the Grantee for Good Reason or by the Company other than for Cause, death or Disability (as such terms are defined in the employment letter agreement between the Grantee and the Company, dated April 1, 2013 (the "Employment Letter Agreem...ent"), then the RSUs shall service-vest in full on the date of Termination of Service, subject to achievement of the Performance Goal, and shall be payable within 30 days following the later of such Termination of Service and the date of achievement of the Performance Goal. (b) In the event the Grantee incurs a Termination of Service because of his death or Disability, any all RSUs that had not become Vested RSUs prior to the date of the Termination of Service Service, shall become Vested RSUs, RSUs as of the date of such Termination of Service, and, as of the applicable Settlement Date, the Grantee (or his Beneficiary, as applicable) shall be entitled to receive an amount determined pursuant to Section 4 hereof. (b) (c) If the Grantee incurs a Termination of Service for any reason other than as set forth in 5(a) and 5(b) above, then any RSUs that had not become Vested RSUs prior to the date including by reason of the Termination of Service for Cause, except as provided in Section 6 of this Agreement, then the RSUs shall be immediately forfeited to the Company. Company and no amount or Shares will become due or owing to the Grantee under this Agreement. View More
Found in Career Education Corporation contract
Termination of Services. Subject to Section 6, the provisions of this Section 5 shall apply in the event the Grantee incurs a Termination of Service at any time prior to an applicable Vesting Date set forth in Section 3: (a) If the Grantee incurs a Termination of Service either (i) by the Company without Cause, or (ii) by the Grantee for Good Reason (as defined in the that certain Letter Agreement between the Grantee and the Company dated as of July 30, 2015), then any RSUs that had not become Vested Shares prior to the... date of the Termination of Service shall become Vested Shares, and, as of the applicable Settlement Date, the Grantee shall be entitled to receive an amount determined pursuant to Section 4 hereof. (b) If the Grantee incurs a Termination of Service because of his death or Disability, any RSUs that had not become Vested RSUs Shares prior to the date of the Termination of Service shall become Vested RSUs, Shares, and, as of the applicable Settlement Date, the Grantee (or his Beneficiary, as applicable) shall be entitled to receive an amount determined pursuant to Section 4 hereof. (b) (c) If the Grantee incurs a Termination of Service for any reason other than as set forth those reasons described in the forgoing Sections 5(a) above, and 5(b), then any RSUs that had not become Vested RSUs Shares prior to the date of the Termination of Service shall be immediately forfeited to the Company. View More
Found in Career Education Corporation contract
Termination of Services. Subject to Section 6, the provisions of this Section 5 shall apply in the event the Grantee incurs a Termination of Service at any time prior to an applicable Vesting Date set forth in Section 3: (a) If the Grantee incurs a Termination of Service either (i) by the Company without Cause, or (ii) by the Grantee for Good Reason (as defined in the that certain Letter Agreement between the Grantee and the Company dated as of July 30, 2015), then any RSUs that had not become Vested RSUs prior to the d...ate of the Termination of Service shall become Vested RSUs, and, as of the applicable Settlement Date, the Grantee shall be entitled to receive an amount determined pursuant to Section 4 hereof. (b) If the Grantee incurs a Termination of Service because of his death or Disability, any RSUs that had not become Vested RSUs prior to the date of the Termination of Service shall become Vested RSUs, and, as of the applicable Settlement Date, the Grantee (or his Beneficiary, as applicable) shall be entitled to receive an amount determined pursuant to Section 4 hereof. (b) (c) If the Grantee incurs a Termination of Service for any reason other than as set forth those reasons described in the forgoing Sections 5(a) above, and 5(b), then any RSUs that had not become Vested RSUs prior to the date of the Termination of Service shall be immediately forfeited to the Company. View More
Found in Career Education Corporation contract
Termination of Services. Subject to Section 6, the provisions of this Section 5 shall apply in the event the Grantee incurs a Termination of Service at any time prior to an applicable the Vesting Date set forth in Section 3: (a) If the Grantee incurs a Termination of Service because of his or her death or Disability, any Eligible RSUs that had not become Vested RSUs prior to the date of the Termination of Service shall become Vested RSUs, and, as of the applicable Settlement Date, the Grantee (or his or her Beneficiary,... as applicable) shall be entitled to receive an amount determined pursuant to Section 4 hereof. (b) If the Grantee incurs a Termination of Service for any reason other than as set forth in 5(a) above, his or her death or Disability, then any RSUs that had not become Vested RSUs prior to the date of the Termination of Service shall be immediately forfeited to the Company. View More
Found in Career Education Corporation contract