Withdrawal Termination of Employment Clause Example with 5 Variations from Business Contracts
This page contains Withdrawal 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.
Withdrawal Termination of Employment. (a) A participant may withdraw all but not less than all the Contributions credited to his or her account under the Plan at any time prior to the Exercise Date of the Offering Period by giving written notice to the Company or its designee. All of the participant's Contributions credited to his or her account will be paid to him or her promptly after receipt of his or her notice of withdrawal and his or her option for the current period will be automatically terminated, and no further Contributio...ns for the purchase of shares will be made during the Offering Period. (b) Upon termination of the participant's Continuous Status as an Employee prior to the Exercise Date of the Offering Period for any reason, including retirement or death, the Contributions credited to his or her account will be returned to him or her or, in the case of his or her death, to the person or persons entitled thereto under paragraph 14, and his or her option will be automatically terminated. (c) In the event an Employee fails to remain in Continuous Status as an Employee for at least 20 hours per week during the Offering Period in which the Employee is a participant, he or she will be deemed to have elected to withdraw from the Plan and the Contributions credited to his or her account will be returned to him or her and his or her option terminated. (d) A participant's withdrawal from an Offering Period will not have any effect upon his or her eligibility to participate in a succeeding offering or in any similar plan which may hereafter be adopted by the Company.View More
Variations of a "Withdrawal Termination of Employment" Clause from Business Contracts
Withdrawal Termination of Employment. (a) A participant may withdraw all but not less than all the Contributions payroll deductions credited to his or her account under the Plan at any time prior to the Exercise Date of the Offering Period by giving written notice to the Company or its designee. Company. All of the participant's Contributions payroll deductions credited to his or her account will be paid to him or her promptly at the next pay date which follows the tenth business day after the receipt of his or her notice of withdra...wal and his or her option for the current period will be automatically terminated, and no further Contributions payroll deductions for the purchase of shares will be made during the Offering Period. (b) Upon termination of the participant's Continuous Status as an Employee prior to the Exercise Date of the Offering Period for any reason, including retirement or death, the Contributions payroll deductions credited to his or her account will be returned to him or her the participant or, in the case the of his or her participant's death, to the person or persons entitled thereto under paragraph 14, and his or her option will be automatically terminated. representative of the participant's estate. (c) In the event an Employee fails to remain in Continuous Status as an Employee for at least 20 hours per week during the Offering Period in which the Employee is a participant, he or she will be deemed to have elected to withdraw from the Plan and the Contributions credited to his or her account will be returned to him or her and his or her option terminated. (d) A participant's withdrawal from an Offering Period offering will not have any effect upon his or her eligibility to participate in a succeeding offering or in any similar plan which may hereafter be adopted by the Company. View More
Withdrawal Termination of Employment. (a) A participant may withdraw all but not less than all the Contributions payroll deductions credited to his or her account under the Plan at any time prior to the Exercise Date of the Offering Period 5Period by giving written notice to the Company or its designee. Company. All of the participant's Contributions payroll deductions credited to his or her account will be paid to him or her promptly at the next pay date after receipt of his or her notice of withdrawal and his or her option for the... current period will be automatically terminated, and no further Contributions payroll deductions for the purchase of shares will be made during the Offering Period. (b) Upon termination of the participant's Continuous Status as an Employee prior to the Exercise Date of the Offering Period for any reason, including retirement or death, the Contributions payroll deductions credited to his or her account will be returned to him or her the participant's or, in the case the of his or her participant's death, to the person or persons entitled thereto under paragraph 14, participant's estate, and his or her option will be automatically terminated. (c) In the event an Employee fails to remain in Continuous Status as an Employee for at least 20 hours per week during the Offering Period in which the Employee is a participant, he or she will be deemed to have elected to withdraw from the Plan and the Contributions credited to his or her account will be returned to him or her and his or her option terminated. (d) A participant's withdrawal from an Offering Period will not have any effect upon his or her eligibility to participate in a succeeding offering Offering or in any similar plan which may hereafter be adopted by the Company. View More
Withdrawal Termination of Employment. (a) A participant may withdraw all but not less than all the Contributions payroll deductions credited to his or her account under the Plan at any time prior to the Exercise Date of the Offering Period by giving written notice to the Company or its designee. Company. All of the participant's Contributions payroll deductions credited to his or her account will be paid to him or her promptly at the next pay date after receipt of his or her notice of withdrawal and his or her option for the current... period will be automatically terminated, and no further Contributions payroll deductions for the purchase of shares will be made during the Offering Period. (b) Upon termination of the participant's Continuous Status as an Employee prior to the Exercise Date of the Offering Period for any reason, including retirement or death, the Contributions payroll deductions credited to his or her account will be returned to him or her the participant's or, in the case the of his or her participant's death, to the person or persons entitled thereto under paragraph 14, participant's estate, and his or her option will be automatically terminated. (c) In the event an Employee fails to remain in Continuous Status as an Employee for at least 20 hours per week during the Offering Period in which the Employee is a participant, he or she will be deemed to have elected to withdraw from the Plan and the Contributions credited to his or her account will be returned to him or her and his or her option terminated. (d) A participant's withdrawal from an Offering Period will not have any effect upon his or her eligibility to participate in a succeeding offering Offering or in any similar plan which may hereafter be adopted by the Company. View More
Withdrawal Termination of Employment. (a) A participant may withdraw all but not less than all the Contributions payroll deductions credited to his or her account under the Plan at any time prior to the Exercise Date of the Offering Period by giving written notice to the Company or its designee. Company. All of the participant's Contributions payroll deductions credited to his or her account will be paid to him or her promptly at the next pay date after receipt of his or her notice of withdrawal and his or her option for the current... period will be automatically terminated, and no further Contributions payroll deductions for the purchase of shares will be made during the Offering Period. (b) Upon termination of the participant's Continuous Status as an Employee prior to the Exercise Date of the Offering Period for any reason, including retirement or death, the Contributions payroll deductions credited to his or her account will be returned to him or her the participant's or, in the case the of his or her participant's death, to the person or persons entitled thereto under paragraph 14, Section 15, and his or her option will be automatically terminated. (c) In the event an Employee fails to remain in Continuous Status as an Employee for at least 20 hours per week during the Offering Period in which the Employee is a participant, he or she will be deemed to have elected to withdraw from the Plan and the Contributions credited to his or her account will be returned to him or her and his or her option terminated. (d) A participant's withdrawal from an Offering Period offering will not have any effect upon his or her eligibility to participate in a succeeding offering or in any similar plan which may hereafter be adopted by the Company. View More
Withdrawal Termination of Employment. (a) A participant may withdraw all but not less than all the Contributions credited to his or her account under the Plan at any time prior to the Exercise Date of the Offering Period by giving written notice to the Company or its designee. Company. All of the participant's Contributions credited to his or her account will be paid to him or her promptly after receipt of his or her notice of withdrawal and his or her option for the current period will be automatically terminated, and no further Co...ntributions for the purchase of shares will be made during the Offering Period. (b) A participant shall be deemed to withdraw from the Plan if the participant declines or fails to remit to the Company on the last business day prior to the Exercise Date payment of any aggregate lump-sum contribution owed (as determined in accordance with such participant's subscription agreement). (c) Upon termination of the participant's Continuous Status as an Employee prior to the Exercise Date of the Offering Period for any reason, including retirement or death, the Contributions credited to his or her account will be returned to him or her or, in the case of his or her death, to the person or persons entitled thereto under paragraph Section 14, and his or her option will be automatically terminated. (c) (d) In the event an Employee fails to remain in Continuous Status as an Employee of the Company for at least 20 twenty (20) hours per week during the Offering Period in which the Employee employee is a participant, he or she will be deemed to have elected to withdraw from the Plan and the Contributions credited to his or her account will be returned to him or her and his or her option terminated. (d) (e) A participant's withdrawal from an Offering Period offering will not have any effect upon his or her eligibility to participate in a succeeding offering or in any similar plan which may hereafter be adopted by the Company. View More
