Example ContractsClausesExpiration of the Agreement
Expiration of the Agreement
Expiration of the Agreement contract clause examples

Expiration of the Agreement. Your employment with the Company may terminate by way of the expiration of the Term as a result of either party exercising the right not to renew. In the event of termination of Your employment by expiration of the Term, the Company’s obligation to pay and provide You compensation and benefits under this Agreement shall immediately terminate, except: # You shall be entitled to receive that portion of Your Base Salary which shall have been earned through the termination date; and # the Company shall pay or provide You such other payments and benefits, if any, which had vested hereunder before the termination date.

If both # Executive’s employment has not been earlier terminated in accordance with Section 5, and # this Agreement has not been extended, renewed or replaced, then, upon the expiration of the Term, Executive’s employment will continue on an “at will” basis, such that either party may terminate employment at any time for any reason or no reason, any such termination shall not give rise to any notice, payment, severance or other obligations on the part of the Bank under this Section 6 or otherwise; or to any notice or other obligations on the part of Executive under this Section 6; or to any non-competition or non-solicitation restrictions under Section 12 hereof.

Termination due to Death or Disability.

Expiration of Agreement. If either the Company or the Executive elects not to renew this Agreement and it expires, the Executive shall not receive any termination payments other than any amounts fully earned pursuant to the terms of this Agreement, but unpaid hereunder through the date of expiration of this Agreement, if any, in respect of Salary, and any accrued but not yet paid Annual Performance Bonus owed with respect to the year of such expiration and any prior year.

Expiration of the Term. In the event that the Term expires upon the completion of either # the Initial Term or # Extended Term (either (i) or (ii), a “Qualifying Expiration”), the Executive shall be deemed to become an at-will employee of the Company and the Employer as of such Qualifying Expiration. The terms of Section 1(b) (“Position and Duties”) shall apply to the Executive in his employment as an at-will employee; provided that from and after a Qualifying Expiration, the reference to theTerm” in Section 1(b) shall mean the period of the Executive’s at-will employment. In addition, Sections 7 to 21 of this Agreement shall continue to apply during and after such period of at-will employment in accordance with their terms. Any party may terminate such at-will employment by written notice with or without Cause and with or without advance notice. Effective immediately upon any Qualifying Expiration, the Executive shall participate in and be eligible to benefit from the severance plan, if any, that is then in effect and is generally applicable to senior executive officers of the Company and/or the Employer who do not have a written employment agreement with the Company and/or the Employer (an “Applicable Severance Plan”). For the avoidance of doubt, the Executive shall participate in and be eligible to benefit from any Applicable Severance Plan if a Qualifying Expiration occurs, regardless of whether any period of the Executive’s performance of services as an at-will employment follows such Qualifying Expiration, subject to the terms of such Applicable Severance Plan. Also for the avoidance of doubt, unless otherwise provided in an Applicable Severance Plan, a modification of the Executive’s compensation terms upon or after a Qualifying Expiration shall not be considered to constitute a termination of the Executive’s employment by the Company or the Employer unless such modification constitutes a constructive discharge.

Expiration of the Agreement. Your employment with the Company may terminate by way of the expiration of the Term as a result of either party exercising the right not to renew. In the event of termination of Your employment by expiration of the Term, the Company’s obligation to pay and provide You compensation and benefits under this Agreement shall immediately terminate, except the Company shall pay you: # that portion of Your Base Salary which is earned but unpaid through the employment termination date; # any accrued but unpaid paid time off; # reimbursement of all expenses for which You are entitled to be reimbursed pursuant to Section 3.4 but for which You have not yet been reimbursed, provided You submit a written expense reimbursement request and supporting documentation in compliance with the Company’s policies within thirty (30) calendar days after the employment termination date; and # vested benefits, if any, to which You are entitled under the Company’s Employee Benefit Plans as of the employment termination date (the foregoing subparts (a), (b), (c) and (d) will hereinafter be referred to collectively as theAccrued Obligations”).

Expiration of the Warrant. This Warrant shall expire and shall no longer be exercisable as of the earlier of:

Expiration of Agreement. This Agreement is executable until the twenty-second (22nd) day after it is received by Executive (theExpiration Date”). This Agreement is null and void if the Company has not received a copy of this Agreement executed by the Executive on or before the Expiration Date. Executive acknowledges that this affords Executive a reasonable period to consult an attorney regarding this Agreement. If Executive chooses to sign this Agreement prior to the end of the Expiration Date, then Executive acknowledges that Executive did so knowingly and voluntarily, and was not induced to do so by fraud, misrepresentation or threat to withdraw or alter the offer.

Expiration of the Term. In the event that, due to the issuance of a Notice of Non-Renewal, the Term expires upon the completion of the Initial Term or the completion of a One-Year Period (either of which is a “Qualifying Expiration”), the Executive shall be deemed to become an at-will employee of the Company and the Employer as of such Qualifying Expiration, unless the Notice of Non-Renewal states that the Executive’s employment shall end effective upon the Qualifying Expiration. The terms of Section 1(b) (“Position and Duties”) shall apply to the Executive in his employment as an at-will employee; provided that from and after a Qualifying Expiration, the reference to theTerm” in Section 1(b) shall mean the period of the Executive’s at-will employment. In addition, Sections 6 to 22 of this Agreement shall continue to apply during and after such period of at-will employment in accordance with their terms. Any party may terminate such at-will employment by written notice with or without Cause and with or without advance notice. Effective immediately upon any Qualifying Expiration, the Executive shall participate in and be eligible to benefit from the severance plan, if any, that is then in effect and is generally applicable to senior executive officers of the Company and/or the Employer who do not have a written employment agreement with the Company and/or the Employer (an “Applicable Severance Plan”). For the avoidance of doubt, the Executive shall participate in and be eligible to benefit from any Applicable Severance Plan if a Qualifying Expiration occurs, regardless of whether any period of the Executive’s performance of services as an at-will employment follows such Qualifying Expiration, subject to the terms of such Applicable Severance Plan. Also for the avoidance of doubt, unless otherwise provided in an Applicable Severance Plan, a modification of the Executive’s compensation terms upon or after a Qualifying Expiration shall not be considered to constitute a termination of the Executive’s employment by the Company or the Employer unless such modification constitutes a constructive discharge.

Expiration of Agreement. If the Company elects not to renew this Agreement and it expires, the Company shall pay to the Executive: # all amounts fully earned pursuant to the terms of this Agreement, but unpaid hereunder through the date of termination, if any, in respect of Salary, and accrued but not yet paid Annual Performance Bonus owed from the final year of Executive’s employment; # a severance payment equal to one (1) time the Executive’s combined Salary and actual bonus compensation for the preceding fiscal year, which shall be paid within five (5) days of the Executive’s last day of employment; and # payment of the full premium (including administrative fee) for continuing health insurance coverage under COBRA or any similar state law for a period of two (2) years following the expiration of the Agreement. The provisions of Section 6(g)(i)(C) shall apply to all payments made under this Section 6(g)(ii) to the extent relevant in accordance with applicable law. If the Executive elects not to renew this Agreement and it expires, the Company shall pay to the Executive all amounts fully earned pursuant to the terms of this Agreement, but unpaid hereunder through the date of termination, if any, in respect of Salary, and accrued but not yet paid Annual Performance Bonus owed from the final year of Executive’s employment.

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