Example ContractsClausesDetermination of Termination of Employment
Determination of Termination of Employment
Determination of Termination of Employment contract clause examples

Determination of Termination of Employment. For purposes of this Agreement, Participant’s date of termination of employment shall mean the date on which Participant ceases active employment, and shall not be extended by any notice period, whether mandated or implied under local law. The Company shall have the sole discretion to determine when Participant is no longer actively employed for purposes of this Agreement without reference to any other agreement, written or oral, including Participant’s contract of employment.

Employment Termination. This Agreement and the employment of the Executive shall terminate upon the occurrence of any of the following:

Employment Termination. [[Person A:Person]] understands that his employment with MEC will be ended effective as of the Retirement Date. [[Person A:Person]] also understands that MEC will be looking for a new CEO/President or other officer to lead the organization in his place, commencing in the near future. As a result, MEC may identify or hire a new individual to lead the organization earlier than the Retirement Date. Should MEC identify or hire a new individual to lead the organization prior to the Retirement Date, MEC may accelerate [[Person A:Person]]’s actual termination date (and the Retirement Date for purposes of this Agreement), at its sole discretion, provided, however, that such action shall not affect MEC’s obligations to [[Person A:Person]] under this Agreement. [[Person A:Person]] understands and agrees that his actual employment may end prior to September 30, 2022, in the sole and absolute discretion of the Board of Directors of MEC. In recognition of [[Person A:Person]]’s years of service with MEC, his early communication of an intent to retire, and in light of the other commitments [[Person A:Person]] has undertaken in this Agreement, MEC is willing to provide certain retirement transition benefits to [[Person A:Person]] in return for his execution of this Agreement.

Employment Termination. Your last day of work with the Company and your employment resignation date will be August 30, 2021 (the “Separation Date”). Between now and the Separation Date, you must transition your duties and responsibilities as requested by the Company, abide by all of your contractual and statutory duties owed to the Company and the Company’s policies.

Employment Termination. Pennypacker understands that his employment with [[Manitowoc:Organization]] is considered ended effective the Separation Date, based on Employee’s resignation.

Termination of Employment. Your employment with the Company will terminate on the Separation Date. After the Separation Date, you shall have no authority to represent yourself as an employee or agent of the Company. On the Separation Date, the Company shall pay your accrued but unpaid base salary and any accrued but unused vacation through the Separation Date. During the Transitional Employment Period, you shall perform assigned tasks, complete ongoing projects, and otherwise assist the Company in the transition of work in connection with any duties you have performed at the Company as may be requested by the Company. Your employment status during the Transitional Employment Period will continue to be at will. During the Transitional Employment Period, you shall continue: # to receive your base salary, subject to all ordinary payroll taxes and withholdings, in accordance with the Company’s payroll policies and procedures; and # to participate in the Company’s employee benefits programs and employee insurance benefits programs, but only to the extent that you currently participate in such programs and remain eligible under any applicable plan document(s), except that you shall not be eligible to participate in any bonus or commission program during the Transitional Employment Period unless otherwise approved by the Compensation Committee of the Company. You acknowledge and agree that the offer of continuation of your employment during the Transitional Employment Period is provided in further consideration of your covenants and obligations set forth in this Agreement and the Affirmation.

Termination of Employment. A Termination Date shall occur as follows:

Termination of Employment. Upon a participant’s ceasing to be an Eligible Employee, for any reason, he or she shall be deemed to have elected to withdraw from the Plan and the payroll deductions credited to such participant’s account during the Offering Period shall be paid to such participant or, in the case of his or her death, to the person or persons entitled thereto under Section 15 hereof, as soon as reasonably practicable and such participant’s option 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 Subsidiary 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.

The Company or the Executive may terminate this Agreement and the Executive’s employment at any time, with or without Cause (as defined below).

Termination of Employment. The Employment Term and the Executive’s employment hereunder may be terminated by either the Company or the Executive at any time and for any reason. Upon termination of the Executive’s employment during the Employment Term, the Executive shall be entitled to the compensation and benefits described in this Section 5 and shall have no further rights to any compensation or any other benefits from the Company or any of its affiliates.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.