Termination Example Clause Samples

Termination Example. If Employee A is terminated by the Company without Cause or terminates his employment for Good Reason on June 30, 2013, Employee A will have (A) 56 Eligible Tranche I Service Options of which 28 options will have time-vested and 2 options will vest and become exercisable on the date of such termination based upon Employee A’s two months of service in 2013 following the first anniversary of the Grant Date (14 options vesting on the next regularly scheduled vesting date with two-twelfths (2/12) of the year of service), (B) 56 Eligible Tranche II Service Options of which 14 options will have time-vested and 7 options will vest and become exercisable on the date of such termination based upon Employee A’s six months of service in 2013, and (C) 56 Eligible Tranche III Service Options of which 0 options will have vested and 7 options will vest and become exercisable on the date of such termination.
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Termination Example. If Employee A is terminated by the Company without Cause or terminates his employment for Good Reason on June 30, 2013, Employee A will have (A) 131 Eligible Tranche I Performance Options of which 70 options will remain outstanding and be eligible to vest based upon the Applicable Percentage (30 Tranche I Service Options will have vested or will vest in connection with Employee A’s termination and 30/56 equals 53.5%), (B) 131 Eligible Tranche II Performance Options of which 49 options will remain outstanding and be eligible to vest based upon the Applicable Percentage (21 Tranche II Service Options will have vested or will vest in connection with Employee A’s termination and 21/56 equals 37.5%), and (C) 130 Eligible Tranche III Performance Options of which 16 options will remain outstanding and be eligible to vest based upon the Applicable Percentage (7 Tranche III Service Options will have vested or will vest in connection with Employee A’s termination and 7/56 equals 12.5%).
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Termination Example. Participant is terminated by the Company without Cause on June 1, 2018 (the Date of Termination). No RSUs have become Eligible RSUs on the Date of Termination because the Date of Termination is prior to the third anniversary of the Grant Date, and therefore no RSUs have become vested prior to the Date of Termination. All RSUs are forfeited and returned to the Company upon such termination of employment.
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Termination Example. The Optionee is terminated by the Company without Cause on ________ (the Date of Termination). No Options have become Eligible Options on the Date of Termination because the Date of Termination is prior to the third anniversary of the Grant Date, and therefore no Options are vested on the Date of Termination. All Options are cancelled and forfeited upon termination of employment.
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Termination Example. If Participant is terminated by the Company without Cause or resigns for Good Reason on August 13, 2013 (the Release Date), Participant will vest on the Date of Termination (i.e., August 13, 2013) in (A) the first Tranche (i.e., as to 76,250 Restricted Shares) which would have vested on February 13, 2013 but for Section 3(c), and (B) 50% of the 76,250 Restricted Shares subject to the second Tranche that were scheduled to vest on February 13, 2014 (i.e., 38,125 Restricted Shares) because Participant was employed for 50% of the vesting year February 14, 2013 – February 13, 2014. The remaining unvested 50% of the 76,250 Restricted Shares subject to the second Tranche (i.e., 38,125 Restricted Shares) and all Restricted Shares subject to the third and fourth Tranches shall be forfeited and returned to the Company.
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Termination Example. Participant is terminated by the Company without Cause or resigns for Good Reason on August 13, 2013 (the Release Date). Assume that the average of the per-share closing price of a Share as reported on the principal exchange on which the Shares are listed for trading for the sixty (60) consecutive trading days ending on February 13, 2013 (the first anniversary of the CEO Effective Date) was $85. But for Section 3(d), Participant would have already vested in 25% of the Tranche I Performance Restricted Shares and Tranche II Performance Restricted Shares (i.e., as to 51,116 Restricted Shares) on February 13, 2013 (because the Tranche I Measurement Standard and Tranche II Measurement Standard were satisfied and such Restricted Shares were Eligible Restricted Shares), and those Restricted Shares will vest on the Date of Termination. Additionally, the unvested Restricted Shares shall remain eligible to vest in accordance with Section 3(a) until the tenth (10th) anniversary of the CEO Effective Date as to (i) Restricted Shares that are Eligible Restricted Shares at the time of termination, which is 25% of the Tranche III Performance Restricted Shares (a total of 25,558 Restricted Shares), and (ii) fifty percent (50%) of each of the Tranche I, II and III Performance Restricted Shares which were scheduled to become Eligible Restricted Shares on February 13, 2014 (i.e., 38,337 Restricted Shares in the aggregate). The remaining unvested Restricted Shares, consisting of 62.5% of each of the Tranche I, II and III Restricted Shares, shall be and returned to the Company.
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Termination Example. Optionee is terminated by the Company without Cause or resigns for Good Reason on August 13, 2013 (the Release Date). Assume that the average of the per-share closing price of a Share as reported on the principal exchange on which the Shares are listed for trading for the sixty (60) consecutive trading days ending on February 13, 2013 (the first anniversary of the CEO Effective Date) was $85. But for Section 4(d), Optionee would have already vested in 25% of the Tranche I Performance Options and Tranche II Performance Options (i.e., as to 37,500 Options) on February 13, 2013 (because the Tranche I Measurement Standard and Tranche II Measurement Standard were satisfied and such Options were Eligible Options), and those Options will vest on the Date of Termination. Additionally, the unvested Options shall remain eligible to vest in accordance with Section 4(a) until the applicable Exercise Expiration Date as to (i) Options that are Eligible Options at the time of termination, which is 25% of each of the Tranche III, IV and V Performance Options (a total of 74,200 Options), and (ii) fifty percent (50%) of each of Tranche I, II, III, IV and V Performance Options which were scheduled to become Eligible Options on February 13, 2014 (i.e., 55,850 Options in the aggregate). The remaining unvested Options, consisting of 62.5% of each of the Tranches I, II, III, IV and V Performance Options, shall be forfeited and cancelled.
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Termination Example. If Optionee is terminated by the Company without Cause or resigns for Good Reason on August 13, 2013 (the Release Date), Optionee will vest and become exercisable on the Date of Termination (i.e., August 13, 2013) in (A) the first Tranche (i.e., as to 50,000 Shares subject to the Option) which would have vested on February 13, 2013 but for Section 4(c), and (B) as to 50% of the 50,000 Shares subject to the second Tranche that was scheduled to vest on February 13, 2014 (i.e., as to 25,000 Shares) because Optionee was employed for 50% of the vesting year February 14, 2013 – February 13, 2014. The remaining unvested portion of the Option, consisting of 50% of the second Tranche and the entire third and fourth Tranches, shall be forfeited and cancelled.
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Termination Example. If Employee A is terminated by the Company without Cause or terminates his employment for Good Reason on June 30, 2013, Employee A will have (A) 56 Eligible Tranche I RSUs of which 28 RSUs will have time-vested and 2 RSUs will vest on the date of such termination based upon Employee A’s two months of service in 2013 following the first anniversary of the Grant Date (14 RSUs vesting on the next regularly scheduled vesting date with two-twelfths (2/12) of the year of service), (B) 56 Eligible Tranche II RSUs of which 14 RSUs will have time-vested and 7 RSUs will vest on the date of such termination based upon Employee A’s six months of service in 2013, and (C) 56 Eligible Tranche III RSUs of which 0 RSUs will have vested and 7 RSUs will vest on the date of such termination.
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Related to Termination Example

  • Early Contract Termination The State may terminate this contract in whole or in part by giving fifteen (15) days written notice to the Purchaser when it is in the best interests of the State. If this contract is so terminated, the State shall be liable only for the return of that portion of the initial deposit that is not required for payment, and the return of unapplied payments. The State shall not be liable for damages, whether direct or consequential.

  • Vendor’s Termination If TIPS fails to materially perform pursuant to the terms of this Agreement, Vendor shall provide written notice to TIPS specifying the default (“Notice of Default”). If TIPS does not cure such default within thirty (30) days, Vendor may terminate this Agreement, in whole or in part, for cause. If Vendor terminates this Agreement for cause, and it is later determined that the termination for cause was wrongful, the termination shall automatically be converted to and treated as a termination for convenience.

  • Summary Termination 17.1 The employment of the Executive may be terminated by the Company without notice or payment in lieu of notice if: (A) the Executive is guilty of misconduct or commits any serious breach or non-observance (and in the case of any misconduct, serious breach or non-observance which is capable of being remedied by the Executive, having been given notice in writing and having failed to remedy the same within 7 days of such notice having been served) of any of the provisions of this Agreement or of his obligations to the Company or any Group Company (whether under this Agreement or otherwise) or any lawful acts or directions of the Board or relevant rules and/or codes issued by or on behalf of any Relevant Stock Exchange or (having been given notice in writing and having failed to remedy the same within 7 days of such notice having been served) is guilty of any continued or successive breaches or non-observance of any of such provisions, obligations, acts or directions, rules and/or codes in spite of written warning to the contrary by the Board; (B) the Executive is in the reasonable opinion of the Board negligent or incompetent in the performance of his duties; (C) the Executive is adjudged bankrupt or enters into any composition or arrangement with or for the benefit of his creditors including a voluntary arrangement under the Insolvency Act of 1986; (D) the Executive is guilty of any fraud or dishonesty or acts in any manner which in the reasonable opinion of the Board brings or is likely to bring the Company or any Group Company into disrepute or is materially adverse to the interests of the Company or any Group Company; (E) the Executive performs any act or omission which in the reasonable opinion of the Board may seriously damage the interests of the Company or any Group Company or willfully or negligently breaches any legislation or any regulation to which the Company or Group Company may be subject which may result in any penalties being imposed on him or any Directors of the Company or Group Company. (F) the Executive becomes prohibited by law or is disqualified from being a director or officer of a company; (G) the Executive is convicted of any criminal offence by a court of competent jurisdiction (other than a minor offence for which a fine or other non-custodial penalty is imposed); (H) the Executive commits any act of deliberate discrimination or harassment on grounds of race, sex, disability, sexual orientation, religion or belief or age; (I) the Executive becomes of unsound mind or a patient for the purpose of any statute relating to mental health; (J) the Executive is convicted of an offence under the Criminal Justice ▇▇▇ ▇▇▇▇ (or the Financial Services Authority becomes entitled to impose a penalty on the Executive pursuant to section 123 of the Financial Services and Markets Act 2000) or the Executive is otherwise convicted or found liable under any other present or future statutory enactment or regulation relating to insider dealing and/or market abuse; (K) the Executive resigns as a director or officer of the Company other than at the request of the Company; (L) the Client requires the Company to cause the Executive to cease providing services to it pursuant to clause 3.4 of the Services Memorandum; or (M) the Executive commits any other act warranting summary termination at common law including (but not limited to) any act justifying dismissal without notice in the terms of the Company’s generally-applicable Disciplinary Rules in place from time to time. 17.2 The Company’s normal retirement age is 65 and subject to any statutory right to request that his retirement be extended to a greater age including the service of notices in respect of the same, the employment of the Executive shall automatically terminate on the day upon which the Executive reaches the age of 65. 17.3 The termination of the Executive’s employment hereunder for whatsoever reason shall not affect those terms of this Agreement which are expressed to have effect after such termination and shall be without prejudice to any accrued rights or remedies of the parties. 17.4 On the termination of the Executive’s employment either summarily or otherwise, or at any other time in accordance with instructions given to him by the Board, the Executive will immediately return to the Company all equipment, correspondence, records, specifications, software, models, notes, reports and other documents and any copies thereof and any other property belonging to the Company or any Group Company (including but not limited to credit cards, keys and passes) which are in the Executive’s possession or under his control. 17.5 On the termination of the Executive’s employment either summarily or otherwise, or at any other time in accordance with instructions given to him by the Board, the Executive will immediately irretrievably delete any information relating to the business of the Company or any Group Company stored on any magnetic or optical disk or memory and all matter derived from such sources which is in his possession or under his control outside the premises of the Company or any Group Company. 17.6 Upon the request of the Board, the Executive will provide a signed written statement that he has fully complied with his obligations under clauses 17.4 and/or 17.5 and the Company may withhold any sums owing to the Executive on the Termination Date until the obligations in clause 17.4 and/or 17.5 have been complied with.

  • 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.

  • CFR PART 200 Termination Termination for cause and for convenience by the grantee or subgrantee including the manner by which it will be effected and the basis for settlement. (All contracts in excess of $10,000) Pursuant to the above, when federal funds are expended by ESC Region 8 and TIPS Members, ESC Region 8 and TIPS Members reserves the right to terminate any agreement in excess of $10,000 resulting from this procurement process for cause after giving the vendor an appropriate opportunity and up to 30 days, to cure the causal breach of terms and conditions. ESC Region 8 and TIPS Members reserves the right to terminate any agreement in excess of $10,000 resulting from this procurement process for convenience with 30 days notice in writing to the awarded vendor. The vendor would be compensated for work performed and goods procured as of the termination date if for convenience of the ESC Region 8 and TIPS Members. Any award under this procurement process is not exclusive and the ESC Region 8 and TIPS reserves the right to purchase goods and services from other vendors when it is in the best interest of the ESC Region 8 and TIPS. Does vendor agree? Yes