Termination Clause Example with 15 Variations from Business Contracts
This page contains Termination 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. If Participant's Service terminates for any reason, all unvested RSUs will be forfeited to the Company forthwith, and all rights of Participant to such RSUs will immediately terminate without payment of any consideration to Participant. Participant's Service will be considered terminated (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is employed or the terms of Participant's employm...ent agreement, if any) as of the date Participant is no longer actively providing services. Participant's Service will not be extended by any notice period (e.g., Participant's Service would not include a period of "garden leave" or similar period mandated under employment laws in the jurisdiction where Participant is employed or the terms of Participant's employment agreement, if any). Participant acknowledges and agrees that the Vesting Schedule may change prospectively in the event Participant's service status changes between full- and part-time and/or in the event Participant is on a leave of absence, in accordance with Company policies relating to work schedules and vesting of awards or as determined by the Committee. In case of any dispute as to whether and when a termination of Service has occurred, the Committee will have sole discretion to determine whether such termination of Service has occurred and the effective date of such termination (including whether Participant may still be considered to be actively providing Services while on a leave of absence).View More
Variations of a "Termination" Clause from Business Contracts
Termination. If Participant's Continuous Service Status terminates at any time for any reason, all unvested RSUs will for which vesting is no longer possible under the terms of the Grant Notice and this Agreement shall be forfeited to the Company forthwith, upon such termination of Continuous Service Status, and all rights of Participant to such RSUs will shall immediately terminate without payment at such time. (a) Continuous Service Status. For purposes of any consideration to Participant. the Grant Notice... and this Agreement, Participant's Continuous Service Status will be considered terminated (regardless as of the date Participant no longer actively provides services as an Employee or Consultant regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is employed provides services or by the terms of Participant's employment or service agreement, if any) as any (the "Termination Date"). Subject to the terms of the date Plan and Applicable Laws, the Company shall have the exclusive discretion to determine when Participant is no longer actively providing services. Participant's provides services for purposes of the RSUs, the Grant Notice and this Agreement, including whether Participant actively provides services on any leave of absence. (b) Leave of Absence. Continuous Service Status will not be extended by any contractual notice period (e.g., Participant's Service would not include a or any period of "garden leave" or similar notice period mandated under employment laws in the jurisdiction where Participant is employed provides services or by the terms of Participant's employment or service agreement, if any). Participant acknowledges and agrees that any, unless otherwise determined by the Vesting Schedule may change prospectively Company in its sole discretion. Continuous Service Status shall be deemed to continue for any purpose of the event Participant's service status changes between full- and part-time and/or in Grant Notice or this Agreement while the event Participant is on a bona fide leave of absence, if (i) such leave was approved by the Company in accordance with writing, or (ii) the continued crediting of Continuous Service Status is expressly required by the terms of such leave, Company policies relating to work schedules and vesting of awards policy or as by Applicable Laws (as determined by the Committee. In case of any dispute as Company). Continuous Service Status shall be deemed to whether and terminate when a termination of Service has occurred, such leave ends, unless the Committee will have sole discretion Participant immediately returns to determine whether such termination of Service has occurred and the effective date of such termination (including whether Participant may still be considered to be actively providing Services while on a leave of absence). active work. View More
Termination. If Except as otherwise provided in the Plan or Grant Notice, if Participant's Continuous Service Status terminates at any time for any reason, reason (including death or Disability), all unvested RSUs will for which vesting is no longer possible under the terms of the Grant Notice and this Agreement shall be forfeited to the Company forthwith, on the date of such termination of Continuous Service Status, and all rights of Participant to such RSUs will shall immediately terminate without payment ...of any consideration at such time. Subject to Participant. Participant's Service will be considered terminated (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws Applicable Law, in the jurisdiction where event Participant's Continuous Service Status is terminated by the Participant's employer (the "Employer") for Cause, then Participant's vested but unsettled RSUs will also be forfeited upon the date of such termination, and Participant is employed will have no further rights or interests with respect to such vested RSUs. Further, unless otherwise approved by the terms of Company, Participant's employment agreement, if any) right to vest in the RSUs will terminate as of the such date Participant is no longer actively providing services. Participant's Service and will not be extended by any contractual notice period (e.g., Participant's Service would not include a or any period of "garden leave" or similar notice period mandated under employment laws in the jurisdiction where Participant is employed or the terms of Participant's employment agreement, if any). any. To the extent permitted by Section 409A of the Code, if Participant acknowledges and agrees that the Vesting Schedule may change prospectively in the event Participant's service status changes between full- and part-time and/or in the event ceases to be an Employee but continues, or simultaneously commences, services as a Non-Employee Director, Participant is on a leave of absence, in accordance with Company policies relating shall be deemed to work schedules and vesting of awards or as determined by the Committee. In case of any dispute as to whether and when have had a termination of Continuous Service has occurred, the Committee will have sole discretion to determine whether such termination Status for purposes of Service has occurred and the effective date of such termination (including whether Participant may still be considered to be actively providing Services while on a leave of absence). this Agreement. View More
Termination. If Except as otherwise provided in the Plan, if Participant's Continuous Service Status terminates at any time for any reason, all unvested RSUs will for which vesting is no longer possible under the terms of the Grant Notice and this Agreement shall be forfeited to the Company forthwith, on the date of such termination of Continuous Service Status, and all rights of Participant to such RSUs will shall immediately terminate without payment of any consideration at such time. Subject to Participan...t. Participant's Service will be considered terminated (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws Applicable Law, in the jurisdiction where event Participant's Continuous Service Status is terminated by the Participant's Employer (the "Employer") for Cause, then Participant's vested but unsettled RSUs will also be forfeited upon the date of such termination, and Participant is employed will have no further rights or interests with respect to such vested RSUs. Further, unless otherwise approved by the terms of Company, Participant's employment agreement, if any) right to vest in the RSUs will terminate as of the such date Participant is no longer actively providing services. Participant's Service and will not be extended by any contractual notice period (e.g., Participant's Service would not include a or any period of "garden leave" or similar notice period mandated under employment laws in the jurisdiction where Participant is employed or the terms of Participant's employment agreement, if any). Participant acknowledges and agrees that the Vesting Schedule may change prospectively in the event Participant's service status changes between full- and part-time and/or in the event Participant is on a leave of absence, in accordance with Company policies relating to work schedules and vesting of awards or as determined by the Committee. In case of any dispute as to whether and when a termination of Service has occurred, the Committee will have sole discretion to determine whether such termination of Service has occurred and the effective date of such termination (including whether Participant may still be considered to be actively providing Services while on a leave of absence). any. View More
Termination. If Participant's Continuous Service Status terminates at any time for any reason, all unvested RSUs will for which vesting is no longer possible under the terms of the Grant Notice and this Agreement shall be forfeited to the Company forthwith, on the date that is three (3) months following such termination of Continuous Service Status, and all rights of Participant to such RSUs will shall immediately terminate without payment at such time. Further, for purposes of any consideration to Participa...nt. the RSUs, Participant's Continuous Service Status will be considered terminated (regardless as of the date Participant is no longer actively providing services to the Company, its Parent, Subsidiaries or Affiliates (the "Company Group"), regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is employed or the terms of Participant's employment agreement, if any) any (the "Termination Date"), and, unless otherwise determined by the Company, Participant's right to vest in the RSUs will terminate as of the such date Participant is no longer actively providing services. Participant's Service and will not be extended by any contractual notice period (e.g., Participant's Service would not include a or any period of "garden leave" or similar notice period mandated under employment laws in the jurisdiction where Participant is employed or the terms of Participant's employment agreement, if any). Participant acknowledges and agrees that any. The Company shall have the Vesting Schedule may change prospectively in the event Participant's service status changes between full- and part-time and/or in the event Participant is on a leave of absence, in accordance with Company policies relating to work schedules and vesting of awards or as determined by the Committee. In case of any dispute as to whether and when a termination of Service has occurred, the Committee will have sole exclusive discretion to determine whether such termination when Participant is no longer actively providing services for purposes of Service has occurred the RSUs (including, subject to the terms of the Plan and the effective date of such termination (including Applicable Laws, whether Participant may still be considered to be actively providing Services services while on a leave of absence). View More
Termination. If Participant's Continuous Service Status terminates at any time for any reason, all unvested RSUs will shall be forfeited to the Company forthwith, on the date that is 3-months following such termination of Continuous Service Status, and all rights of Participant to such RSUs will shall immediately terminate without payment at such time. Further, for purposes of any consideration to Participant. the RSUs, Participant's Continuous Service Status will be considered terminated (regardless as of t...he date Participant is no longer actively providing services to the Company, its Parent, Subsidiaries or Affiliates (the "Company Group"), regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is employed or the terms of Participant's employment agreement, if any) any (the "Termination Date"), and, unless otherwise determined by the Company, Participant's right to vest in the RSUs will terminate as of the such date Participant is no longer actively providing services. Participant's Service and will not be extended by any notice period (e.g., Participant's Service would not include a or any period of "garden leave" or similar period notice period, whether agreed contractually or mandated under employment laws in the jurisdiction where Participant is employed or the terms of Participant's employment agreement, if any). Participant acknowledges and agrees that any. The Company shall have the Vesting Schedule may change prospectively in the event Participant's service status changes between full- and part-time and/or in the event Participant is on a leave of absence, in accordance with Company policies relating to work schedules and vesting of awards or as determined by the Committee. In case of any dispute as to whether and when a termination of Service has occurred, the Committee will have sole exclusive discretion to determine whether such termination in good faith when Participant is no longer actively providing services for purposes of Service has occurred the RSUs and the effective date of such termination (including whether Participant may still be considered to be actively providing Services services while on a leave of absence). absence, subject to Applicable Laws. View More
Termination. If Participant's Service terminates for Termination (for any reason, all unvested RSUs will be forfeited to the Company forthwith, and all rights of Participant to such RSUs will immediately terminate without payment of any consideration to Participant. Participant's Service will be considered terminated (regardless of the reason for such termination and whatsoever, whether or not later found to be found invalid or in breach of employment laws in the jurisdiction where Participant is employed or... the terms of Participant's employment agreement, if any) as any), all unvested RSUs shall be forfeited to the Company forthwith, and all rights of the date Participant is no longer actively providing services. Participant's Service to such RSUs shall immediately terminate and will not be extended by any notice period (e.g., Participant's Service active services would not include a any contractual notice period or any period of "garden leave" or similar period mandated under employment laws in the jurisdiction where Participant is employed or the terms of Participant's employment agreement, if any). Participant acknowledges and agrees that the Vesting Schedule may change prospectively in the event Participant's service status changes between full- and part-time and/or in the event Participant is on a leave of absence, in accordance with Company policies relating to work schedules and vesting of awards or as determined by the Committee. In case of any dispute as to whether and when a termination of Service has occurred, the Committee will have sole discretion to determine whether such termination of Service Termination has occurred and the effective date of such termination (including whether Participant may still be considered to be actively providing Services services while on a an approved leave of absence). absence), the Committee shall have sole discretion to determine whether such Termination has occurred and the effective date of such Termination. View More
Termination. If Participant's Service terminates service Terminates for any reason, all unvested RSUs will shall be forfeited to the Company forthwith, and all rights of Participant to such RSUs will shall immediately terminate without payment terminate. For purposes of any consideration this grant of RSUs, the Termination Date is deemed to Participant. Participant's Service will be considered terminated occur on the date Participant is no longer actively providing services to the Company or a Subsidiary (re...gardless of the reason for such termination Termination and whether or not later found to be found invalid or in breach of employment laws in the jurisdiction where Participant is employed or providing services or the terms of Participant's employment employee agreement, if any) as of the date Participant is no longer actively providing services. Participant's Service any), and will not be extended by any notice period (e.g., Participant's Service period of employment would not include a any contractual notice period or any period of "garden leave" or similar period mandated under employment laws in the jurisdiction where Participant is employed or providing services or the terms of Participant's employment agreement, if any). Participant acknowledges and agrees that the Vesting Schedule may change prospectively in the event Participant's service status changes between full- and part-time and/or in the event Participant If there is on a leave of absence, in accordance with Company policies relating to work schedules and vesting of awards or as determined by the Committee. In case of any dispute as to whether and when a termination of Service Termination has occurred, the Committee will shall have sole discretion to determine whether such termination of Service Termination has occurred and the effective date of such termination (including whether Participant may still be considered to be actively providing Services while on a leave of absence). Termination. View More
Termination. If Participant's Service terminates for any reason, all unvested RSUs will be forfeited to the Company forthwith, and all rights of Participant to such RSUs will immediately terminate without payment of any consideration to Participant. terminate. Participant's Service will be considered terminated as of the date Participant is no longer providing services (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdicti...on where Participant is employed or the terms of Participant's employment agreement, if any) as of the date Participant is no longer actively providing services. Participant's Service will not be extended by any notice period (e.g., Participant's Service would not include a period of "garden leave" or similar period mandated under employment laws in the jurisdiction where Participant is employed or the terms of Participant's employment agreement, if any). Participant acknowledges and agrees that the Vesting Schedule may change prospectively in the event Participant's service status changes between full- and part-time and/or in the event Participant is on a leave of absence, in accordance with Company policies relating to work schedules and vesting of awards or as determined by the Committee. In case of any dispute as to whether and when a termination of Service has occurred, the Committee will have sole discretion to determine whether such termination of Service has occurred and the effective date of such termination (including termination. The Committee shall have the exclusive discretion to determine whether Participant you may still be considered to be actively providing Services services while on a an approved leave of absence). absence. View More
Termination. If Participant's Service terminates service Terminates for any reason, all unvested RSUs will shall be forfeited to the Company forthwith, and all rights of Participant to such RSUs will shall immediately terminate without payment terminate. For purposes of any consideration this grant of RSUs, the Termination Date is deemed to Participant. Participant's Service will be considered terminated occur on the date Participant is no longer actively providing services to the Company or a Subsidiary (re...gardless of the reason for such termination Termination and whether or not later found to be found invalid or in breach of employment laws in the jurisdiction where Participant is employed or the terms of Participant's employment employee agreement, if any) as of the date Participant is no longer actively providing services. Participant's Service any), and will not be extended by any notice period (e.g., Participant's Service period of service would not include a any contractual notice period or any period of "garden leave" or similar period mandated under employment laws in the jurisdiction where Participant is employed or the terms of Participant's employment agreement, if any). Participant acknowledges and agrees that the Vesting Schedule may change prospectively in the event Participant's service status changes between full- and part-time and/or in the event Participant If there is on a leave of absence, in accordance with Company policies relating to work schedules and vesting of awards or as determined by the Committee. In case of any dispute as to whether and when a termination of Service Termination has occurred, the Committee will shall have sole discretion to determine whether such termination of Service Termination has occurred and the effective date of such termination (including whether Participant may still be considered to be actively providing Services while on a leave of absence). Termination. View More
Termination. If Participant's Service terminates service Terminates for any reason, all unvested RSUs will be forfeited to the Company Cray forthwith, and all rights of Participant to such RSUs will immediately terminate without payment terminate. For purposes of any consideration to Participant. the RSUs, Participant's Service service will be considered terminated as of the date Participant is no longer providing services to Cray, its Parent or one of its Subsidiaries (regardless of the reason for such term...ination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is employed or the terms of Participant's employment agreement, if any) as of (the "Termination Date"). The Committee shall have the date exclusive discretion to determine when Participant is no longer actively providing services. services for purposes of the RSUs (including whether Participant may still be considered to be providing services while on an approved leave of absence). Unless otherwise provided in this Agreement or determined by Cray, Participant's Service right to vest in the RSUs under the Plan, if any, will terminate as of the Termination Date and will not be extended by any notice period (e.g., Participant's Service period of services would not include a any contractual notice period or any period of "garden leave" or similar period mandated under employment laws in the jurisdiction where Participant is employed or the terms of Participant's employment agreement, if any). Participant acknowledges and agrees that the Vesting Schedule may change prospectively in the event Participant's service status changes between full- and part-time and/or in the event Participant is on a leave of absence, in accordance with Company policies relating to work schedules and vesting of awards or as determined by the Committee. In case of any dispute as to whether and when a termination of Service has occurred, the Committee will have sole discretion to determine whether such termination of Service has occurred and the effective date of such termination (including whether Participant may still be considered to be actively providing Services while on a leave of absence).View More
