Executive Termination Obligations Sample Clauses
The Executive Termination Obligations clause defines the responsibilities and requirements that an executive must fulfill upon the termination of their employment. This typically includes returning company property, maintaining confidentiality, and cooperating with any transitional matters, such as assisting in the handover of duties or providing information necessary for ongoing business operations. The core function of this clause is to ensure a smooth and orderly transition when an executive departs, protecting the company's interests and minimizing disruption.
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Executive Termination Obligations. Upon termination of Executive’s employment, Executive shall be deemed to have resigned from all offices and directorships then held with the Companies. Following any termination of employment, Executive shall cooperate with the Companies in the winding up of pending work on behalf of the Companies and the orderly transfer of work to other employees. Executive shall also cooperate with the Companies in the defense of any action brought by any third party against any of the Companies that relates to Executive’s employment by the Companies. Executive further agrees that all property (including without limitation all equipment, tangible proprietary information, documents, records, notes, contracts and computer-generated materials) furnished to or created or prepared by Executive incident to Executive’s employment belongs to the Companies and shall be promptly returned to the Companies upon termination of Executive’s employment, Executive shall comply with Executive’s continuing obligations under the proprietary information and inventions agreement executed by Executive.]
Executive Termination Obligations