Group Termination Clause Samples
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Group Termination. If Participant’s employment terminates involuntarily by reason of a group termination (including, but not limited to, terminations resulting from sale of a business or division, outsourcing of an entire function, reduction in workforce or closing of a facility) (a “Group Termination Event”), the number of Shares subject to the RSUs that would have vested within 12 months of termination of Participant’s active employment shall vest as of the date of termination of active employment (such date also being a “Vesting Date”) and all other RSUs and associated Dividend Equivalents shall be forfeited as of the date of termination of active employment, and Participant shall have no right to or interest in such RSUs, the underlying Shares or any associated Dividend Equivalents.
Group Termination. In the event of a plant closure the Company agrees to comply with the Group termination provisions of the B.C. Employment Standards Act.
Group Termination. Employees shall be entitled to Group Terminations as outlined in Section 64 of the Employment Standards Act. Any changes, modifications to the Act will also apply.
Group Termination. (i) If prior to April 1, 2021, Participant’s employment terminates involuntarily by reason of a group termination (including, but not limited to, terminations resulting from sale of a business or division, outsourcing of an entire function, reduction in workforce or closing of a facility) (a “Group Termination Event”), the number of Shares subject to the RSUs that would have vested within 12 months of termination of Participant’s active employment shall continue to vest according to the schedule set forth in Section 1, notwithstanding such termination of employment.
(ii) If on or after April 1, 2021, Participant’s employment terminates involuntarily by reason of a Group Termination Event, the number of Shares subject to the RSUs that would have vested within 12 months of termination of Participant’s active employment shall vest as of the date of termination of active employment (such date also being a “Vesting Date”). Under either Section 3(a)(i) or 3(a)(ii), all other RSUs and associated Dividend Equivalents that do not vest in connection with Participant’s Group Termination Event shall be forfeited as of the date of termination of active employment, and Participant shall have no right to or interest in such RSUs, the underlying Shares or any associated Dividend Equivalents.
Group Termination. If Participant’s employment terminates involuntarily by reason of a group termination (including, but not limited to, terminations resulting from sale of a business or division, outsourcing of an entire function, reduction in workforce or closing of a facility) (a “Group Termination Event”), any unvested Options that would have vested within 12 months following such termination of active employment shall become fully vested, all other unvested Options shall be cancelled as of the date of termination of active employment and all vested Options shall remain exercisable for 3 years following termination of active employment.
Group Termination. The Group shall have the right to terminate this Agreement immediately upon notice to The Plan in the following circumstances:
(a) Application for or appointment of a receiver, trustee in bankruptcy or liquidator of The Plan;
(b) The Plan’s loss of licensure as a specialized health care service plan pursuant to the provisions of the ▇▇▇▇-▇▇▇▇▇ Act; or
(c) The Plan and The Group’s inability to agree on any payment rate increase or Covered Services provided hereunder. The Group shall have the right to terminate this Agreement for any other reason by sending written notice of such termination to The Plan. Such termination shall be effective 60 days after the date on which The Group has sent the notice or the date specified in such notice, whichever is later.