Covered Terminations Sample Clauses
The "Covered Terminations" clause defines the specific types of contract terminations that are subject to certain rights, obligations, or consequences under the agreement. Typically, this clause outlines which termination events—such as termination for cause, without cause, or due to mutual agreement—will trigger particular provisions like severance payments, notice requirements, or post-termination restrictions. By clearly identifying which terminations are "covered," the clause ensures both parties understand when special rules or protections apply, thereby reducing ambiguity and potential disputes regarding the end of the contractual relationship.
Covered Terminations. Notwithstanding anything to the contrary in any agreement evidencing the Stock Option, or any future stock option or other equity award, the unvested portion of the Stock Option, or such future stock option or other equity award, shall not terminate upon the date of a Covered Termination (as defined below) but instead shall remain outstanding and eligible to vest in accordance with Section 6 hereof until the three month anniversary of such Covered Termination.
Covered Terminations. If the Executive’s employment with the Company terminates by reason of a Covered Termination under Section 4(b), then, in addition to any accrued remuneration to which the Executive may otherwise be entitled pursuant to the terms and conditions of his employment with the Company, the Executive shall receive the following additional remuneration from the Company:
Covered Terminations. If your termination of employment occurs before November 8, 2013 and:
i. you terminate employment as a result of your death or Disability, or
ii. you are involuntarily terminated by OfficeMax without Cause or you voluntarily terminate employment with OfficeMax for Good Reason, then your RSU Award shall vest in full on your employment termination date.
Covered Terminations. The following events shall be considered “Covered Terminations” under this Agreement:
Covered Terminations. If Executive experiences a Covered Termination, then, subject to Executive executing and not revoking a standard form of release of claims with the Company in a form acceptable to the Company within sixty (60) days of such termination (i) Executive shall be entitled to receive an amount equal to one year’s Base Salary, less applicable withholding, payable in substantially equal bi-monthly installments in accordance with the Company’s standard payroll practices, (ii) all of Executive’s then outstanding options to purchase shares of Company common stock and other equity-based awards shall become fully vested and exercisable, and/or the restrictions applicable to unvested shares of common stock held by Executive shall lapse, immediately prior to the date of Executive’s Covered Termination, (iii) the Company shall pay the group health, dental and vision plan continuation coverage premiums for Executive and, if relevant, his covered dependents under Title X of the Consolidated Budget Reconciliation Act of 1985, as amended (“COBRA”) for the lesser of (A) twelve (12) months from the date of Executive’s termination of service, or (B) the date upon which Executive and his covered dependents are covered by similar plans of Executive’s new employer and (iv) the Company shall reimburse Executive for the expense of relocation for Executive and Executive’s family from the San Francisco Bay Area, California to the United Kingdom incurred within twelve (12) months of Executive’s termination of services, if any; provided, however that such reimbursement shall not exceed the relocation benefits paid to Executive in connection with his initial commencement of employment with the Company, and, provided further, that Executive shall submit a claim for such reimbursement to the Company prior to the end of the calendar year following the calendar year in which such expense is incurred and the Company shall make such reimbursement payment as soon as administratively practicable thereafter.
Covered Terminations. If Executive experiences a Covered Termination, Executive will be entitled to receive Executive’s Accrued Benefits and, subject to the requirements of Section 5.4, will be entitled to receive the following payments and benefits, payable as set forth in Section 5.3:
Covered Terminations