Example ContractsClausestransition servicesVariants
Transition Services
Transition Services contract clause examples

Transition Services. From the date hereof through the Separation Date, Employee shall continue as the Company’s Chief Financial Officer and principal financial officer but shall only perform such Transition Services as the Company may request, including, without limitation, those relating to the transition of his positions, offices, authority, duties, or responsibilities with the Company. Employee otherwise shall not initiate, entertain or perform any services on behalf of the Company or represent the Company as its employee or agent in any respect. Employee also agrees to assist with the execution of all documents and all other instruments which the Company shall deem necessary to accomplish any such transition. Notwithstanding the foregoing, the Company may immediately terminate the Transition Services for any reason it determines, in its sole discretion, to constitute Cause (as defined in the Employment Agreement), and shall have no further obligation to provide the consideration set forth in Sections 3 and 7 hereunder.

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.

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