Effect of Termination on Compensation Clause Samples
The "Effect of Termination on Compensation" clause defines how compensation and payments are handled when a contract is terminated. Typically, it outlines whether the parties are entitled to payment for work completed up to the date of termination, and may specify how outstanding fees, expenses, or refunds are calculated and settled. This clause ensures that both parties understand their financial rights and obligations upon early contract termination, thereby reducing disputes and providing clarity regarding final payments.
POPULAR SAMPLE Copied 4 times
Effect of Termination on Compensation. In the event of the termination of this Agreement prior to the completion of its term specified herein, the Independent Contractor shall be entitled to the compensation earned prior to the date of termination as provided for in this Agreement computed pro rata up to and including that date: the Independent Contractor shall be entitled to no further compensation as of the date of termination.
Effect of Termination on Compensation. (a) In the event that the Client terminates the Contract, he will be obligated to pay the sums due to the Contractor for that part of the works completed.
Effect of Termination on Compensation. In the event of the termination of this Agreement prior to the completion of the term of employment specified in Article 1, the Employee shall be entitled to the compensation earned by the Employee prior to the effective date of termination as provided for in this Agreement, computed pro rata up to and including that date. Except as otherwise provided in this Agreement, the Employee shall be entitled to no further compensation after the date of termination.
Effect of Termination on Compensation. In the event of termination of employment, Employee shall be entitled to the compensation accrued and earned prior to the date of termination as provided for in this Article 3, computed pro-rata up to and including the date of termination. Employee shall be entitled to no further compensation and all benefits received by Employee from Employer, if any, shall cease.
Effect of Termination on Compensation. In the event of termination of this Agreement prior to the completion of the term of employment specified herein, Employee shall be entitled to the compensation earned prior to the date of termination as provided for in the compensation section of this agreement.
Effect of Termination on Compensation. In the event of the termination of this Agreement prior to the expiration of the Initial Term or the Extension Term then in effect, as the case may be, pursuant to Section 5.01 or Section 5.02, Employee shall be entitled to Employee's Base Salary (subject to standard deductions) at the rate then in effect to the date of such termination, computed pro rata up to and including that date, and Employee shall be entitled to no further compensation after the date of such termination.
Effect of Termination on Compensation. In the event of the termination of this Agreement for other than cause prior to the completion of the Initial Consulting Period, Consultant shall be entitled to the compensation earned and to the rights under the option vesting prior to the date of termination as provided for in this Agreement, computed pro rata up to and including that date. Consultant shall be entitled to no further compensation after the date of termination.
Effect of Termination on Compensation. Employee shall be entitled to the base salary earned by Employee prior to the date of termination, computed pro rata up to the date of termination. Employee shall not be entitled to any further salary or other compensation after the date of termination. Except as expressly modified in Exhibit A, on termination of this Agreement Employee shall not be deemed to have earned any incentive compensation not already declared and paid by the Company because such compensation is not for services rendered, and employment on the date of payment is an express requirement to be deemed to have earned any such compensation. Unless otherwise agreed-to in writing, Employee shall be obligated to return to the Company within ten (10) days after the termination of Employee’s employment any draws or other advance payments (of incentive compensation or otherwise) made to him during the annual period in which such termination occurs. Unless otherwise agreed-to in writing, interest shall accrue on the sum of any such advances at the rate of ten percent (10%) per annum after said ten-day period.
Effect of Termination on Compensation. 4.1 By Company Without Cause, By Company as a Result of Executive’s Death or Disability, or
Effect of Termination on Compensation. In the event the Corporation elects to terminate this Agreement pursuant to Section 3.5 hereof, the Employee shall be entitled to the compensation as provided for in this Agreement for the longer of (a) the remainder of the then current term of this Agreement or (b) nine (9) months. In the event Employee elects to terminate this Agreement pursuant to Section 3.5 hereof, the Employee shall be entitled to compensation, as provided for in this Agreement, for the longer of (a) one-half (1/2) of the remainder of the then current term of this Agreement or (b) six (6) months.