Basic Termination Entitlements Clause Samples

The Basic Termination Entitlements clause defines the rights and benefits a party is entitled to receive if the contract is terminated. Typically, this clause outlines what payments, compensation, or return of property are due upon termination, such as accrued but unpaid fees, reimbursement for expenses, or the return of confidential information. Its core practical function is to ensure that both parties understand their financial and legal obligations at the end of the contract, thereby reducing disputes and providing a clear framework for winding down the contractual relationship.
Basic Termination Entitlements. (a) Upon termination of the Executive’s employment for any reason, the Executive or the Executive’s estate shall be entitled to receive the following (“Basic Termination Entitlements”): (i) any accrued but unpaid Base Salary, and any amounts required by the British Columbia Employment Standards Act that accrued but were unpaid prior to termination, which shall be paid on the pay date immediately following the termination date in accordance with the Company’s customary payroll procedures; (ii) any earned but unpaid bonus, which shall be paid on the otherwise applicable payment date; provided that, if the Executive’s employment is terminated by the Company for Just Cause, then any such accrued but unpaid bonus shall be forfeited; and (iii) reimbursement for unreimbursed business expenses properly incurred by the Executive, which shall be subject to and paid in accordance with the Company’s expense reimbursement policy and the terms of Section 2.8 hereof. (b) Upon termination of the Executive’s employment for any reason the Executive’s entitlements under the Plan will be determined by the terms of that plan.
View SourceView Similar (6)
Basic Termination Entitlements. (a) Upon termination of the Executive’s employment for any reason, the Executive or the Executive’s estate shall be entitled to receive the following (“Basic Termination Entitlements”): (i) any accrued but unpaid Base Salary, and any amounts required by the British Columbia Employment Standards Act that accrued but were unpaid prior to termination, which shall be paid on the pay date immediately following the termination date in accordance with the Company’s customary payroll procedures; (ii) any earned but unpaid bonus, which shall be paid on the otherwise applicable payment date; provided that, if the Executive’s employment is terminated by the Company for Just Cause, then any such accrued but unpaid bonus shall be forfeited; and
View Source

Related to Basic Termination Entitlements

  • Agreement Termination In the event Contractor is unable to fulfill its responsibilities under this Agreement for any reason whatsoever, including circumstances beyond its control, County may terminate this Agreement in whole or in part in the same manner as for breach hereof.

  • Automatic Termination Unless earlier terminated pursuant to this Section 13, this Agreement shall automatically terminate upon the issuance and sale of all of the Placement Securities through (1) the Sales Agent on the terms and subject to the conditions set forth herein with an aggregate sale price equal to the amount set forth in Section 1 of this Agreement or (2) the Alternative Sales Agents through the Alternative Distribution Agreements on the terms and subject to the conditions set forth therein or any Placement Notice.

  • Account Termination If you no longer wish to use our Services, or if we terminate your account for any reason, here's what you need to know.

  • 1Termination This Agreement may be terminated by any Purchaser, as to such Purchaser’s obligations hereunder only and without any effect whatsoever on the obligations between the Company and the other Purchasers, by written notice to the other parties, if the Closing has not been consummated on or before the fifth (5th) Trading Day following the date hereof; provided, however, that no such termination will affect the right of any party to ▇▇▇ for any breach by any other party (or parties).

  • Termination and Termination Benefits Notwithstanding the provisions of Section 3, the Executive's employment under this Agreement shall terminate under the following circumstances set forth in this Section 6.