Example ContractsClausesSeparation From Employment
Separation From Employment
Separation From Employment contract clause examples

Separation from Employment. For the mutual benefit of Employee and the Company, the parties have agreed that Employee shall transition his Chief Financial Officer position and responsibilities with the Company and shall provide the transition services set forth in Section 5 herein (the “Transition Services”). Specifically, effective upon the earlier of # December 31, 2019 and # the date upon which Employee ceases providing the Transition Services in order to commence new employment or engagement, Employee’s employment with the Company shall cease (the “Separation Date”) and he shall relinquish all positions, offices, and authority with the Company and any affiliates. Employee acknowledges and agrees, except for the payments described hereunder and the payment of accrued but unused vacation to the Separation Date, Employee has no rights to any other wages and other compensation or remuneration of any kind due or owed from the Company, including, but not limited, to all wages, reimbursements, bonuses (including, without limitation, for the calendar year 2019), advances, vacation pay, severance pay, vested or unvested equity or stock options, awards, and any other incentive-based compensation or benefits to which Employee was or may become entitled or eligible.

Separation from Employment. Your last day of employment with the Company will be July 31, 2018 (the “Separation Date”). You shall continue to be paid your salary, at its current rate, and shall receive the benefits you currently receive, provided you continue to make your employee contribution therefor, through the Separation Date. You shall be paid your accrued but unused vacation pay (5 days) on the Separation Date. As of the close of business on July 17, 2018 you will be relieved of further duties and responsibilities, and will no longer be authorized to transact business on behalf of Company. You will retain access to your Company email account through the close of business on July 18, 2018.

You acknowledge separation of your employment with the Company effective September 25, 2020 (“Separation Date”). You acknowledge and agree that as of the Separation Date, you will cease to be an employee of the Company and you will no longer be eligible for or receive any compensation or benefits of employment. The only compensation or benefits you will receive from the Company are those described in this Agreement.

Separation from Employment. Executive acknowledges and agrees that his status as an officer of the Company ended effective as of the close of business on the Officer End Date, and shall thereafter be employed as an at-will employee of the Company assisting the Company in such tasks as reasonably requested by the Company. Executive acknowledges and agrees that his status as an employee of the Company will end effective as of the close of business on or about September 30, 2018, unless terminated earlier by the Company with or without Cause (as defined in the Executive Change in Control Severance Plan (the “Plan”) to which Executive is a participant) (September 30, 2018 or such earlier date, the “Separation Date”). Executive hereby agrees to execute such further document(s) as shall be determined by the Company as necessary or desirable to give effect to the termination of Executive’s status as an officer of the Company; provided that such documents shall not be inconsistent with any of the terms of this Agreement.

Separation from Employment. Executive agrees that Executive’s employment with the Company terminates or has been terminated effective ​, 20​ (the “Separation Date”). Regardless of whether Executive signs this Agreement, Executive will be paid for all of Executive’s accrued but unused paid time off through the Separation Date. The Company will also pay Executive for all properly reported and reimbursable expenses incurred prior to the Separation Date. Following the Separation Date, Executive shall not be, or represent that Executive is, an employee, agent, or representative of the Company, any of the other Releasees (as defined below), or any of their respective funds or portfolio companies and Executive shall take any actions required by the Company to effectuate the foregoing. Further, Executive will immediately and without the need for any additional action be deemed to have resigned from all directorships, committee memberships, officer positions and any other positions that Executive holds with the Company Group (as defined below), and agrees to take any actions as may be reasonably required to effectuate the foregoing. Executive’s execution of this Agreement will be deemed the grant by Executive to the officers of the Company of a limited power of attorney to sign in Executive’s name and on Executive’s behalf any such documentation as may be required to be executed solely for the limited purposes of effectuating such resignations.

Separation from Employment. Effective August 10, 2018 (the “Separation Date”), Employee’s employment with the Company shall cease and he shall relinquish all positions, offices, and authority with the Company. Employee acknowledges and agrees, except for the payments and benefits described herein, Employee has no and will have no rights to any other wages and other compensation or remuneration of any kind due or owed from the Company, including, but not limited, to all wages, reimbursements, bonuses, advances, vacation pay, severance pay, vested or unvested equity or stock options, awards, and any other incentive-based compensation or benefits to which Employee was or may become entitled or eligible. The parties acknowledge and agree that any equity awards granted to Employee by the Company during the term of Employee’s employment, with the exception of any awards granted under the Company’s Long-Term Incentive Plan which shall remain subject to its terms, shall be 100% vested and retained by Employee, notwithstanding any terms in an award agreement or plan document regarding forfeiture of such awards on termination of employment (provided that the foregoing shall not in any way extend the awards beyond their original term).

Separation from Employment. Stahl’s employment with the Company hereby is terminated effective as of the close of business June 27, 2020 (such date referred to herein as the “Termination Date”), Stahl shall be removed from the position of Chief Information Officer of the Company and any and all other officer or director positions that Stahl holds with the Company and, as applicable, its affiliates effective as of the Termination Date. The Company acknowledges and agrees that Stahl’s employment was not a termination for “Cause” (as such term is defined in the Severance Plan).

Separation from Employment. The Employee has been employed by the Company as its Executive Vice President and Chief Financial Officer on an at-will basis pursuant to the employment offer letter between the Company and the Employee dated as of March 12, 2012, as amended by the Amendment to the offer letter dated as of August 8, 2014 (the “Employment Agreement”). The Employee separated from her employment with the Company, effective at the close of business on ​, 202_ (the “Separation Date”). The parties hereto agree that the Employment Agreement shall be terminated as of the Separation Date.

Separation from Employment. Executive hereby resigns from any and all offices, positions, titles in and employment by the Company and its affiliates, effective as of 11:59 pm CT on April 1, 2021 (the “Termination Date”). Until such time, the Employment Agreement will remain in effect except to the extent amended by this Agreement. To the extent not already paid to Executive, within thirty (30) days after the Termination Date, the Company shall pay to Executive # all accrued but unpaid base salary through the Termination Date; # reimbursement for any unreimbursed business expenses properly incurred by Executive in accordance with Company policy prior to the Termination Date; and # cash in lieu of any accrued but unused vacation through the Termination Date in accordance with the Company’s standard policy. Additionally, the Company shall timely pay to Executive any benefits accrued or payable to Executive under the Company’s benefit plans (in accordance with the terms of such benefit plans and subject to Section 17 hereof). Executive will receive by separate letter information regarding Executive’s rights regarding continuation of health insurance under Section 4980B of the Internal Revenue Code (“COBRA”), and to the extent that Executive has such rights, nothing in this Agreement will change or impair those rights.

Separation From Employment. [[Person A:Person]]separation from employment with the Bank is effective on May 10, 2019 (the “Separation Date”), and all obligations between the parties under the Employment Agreement and the Non-Compete Agreement subsequent to [[Person A:Person]]separation will be calculated, applied and interpreted based upon such Separation Date.

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