Common use of Return of Employer Property on Termination Clause in Contracts

Return of Employer Property on Termination. Employee agrees to promptly return the property of Employer and/or Related Entities, and any other party for whom Employer and/or the Related Entities has agreed to hold property, to Employer’s headquarters upon termination of his employment with Employer. Failure to comply with this provision will result in the immediate suspension of any payment then due and owing to Employee under this Agreement until such property is returned. Employer reserves the right to take appropriate legal action against Employee in the event of a breach of this provision.

Return of Employer Property on Termination. Employee agrees to promptly return the Employer’s property of Employer and/or Related Entities, and any other party for whom Employer and/or to the Related Entities has agreed to hold property, to Employer’s headquarters upon termination of his employment with Employer. Failure to comply with this provision will result in the immediate suspension of any payment then due and owing to the Employee under this Agreement until such property is returned. The Employer reserves the right to take appropriate legal action against the Employee in the event of a breach of this provision.