Performance-Based Termination Sample Clauses

Performance-Based Termination. Subject to Section 3(g), in the event of a Performance-Based Termination: (i) the Company shall pay to the Executive an amount equal to the Executive’s Accrued Salary; (ii) the Company shall provide Benefits Continuation for the Executive and the Executive’s family, as provided in Section 3(e) below; (iii) the Executive shall be eligible for a Pro-Rated Bonus payable at the time bonuses would otherwise be paid pursuant to the applicable bonus plan; and (iv) the Company shall continue to pay to the Executive the Executive’s base salary at the then-current rate for a period of 26 weeks following the Performance-Based Termination (“Initial Continuation Period”), less an amount equal to the Executive’s portion of the premiums applicable to the Benefits Continuation. Following the Initial Continuation Period, the Executive may receive up to an additional 26 weeks of base salary continuation subject to the Executive’s inability to obtain Alternate Employment. The Executive shall be required to use Reasonable Efforts to obtain Alternate Employment. “Alternate Employment” means (x) employment that provides the Executive with base salary at a rate not less than 75% of the Executive’s base salary rate at the time of termination or (y) a consulting arrangement that continues for five (5) consecutive weeks and exceeds 30 hours per week. “Reasonable Efforts” means, among other things, that the Executive attends all counseling and/or training sessions recommended by the designated outplacement service group, maintains weekly contact with the outplacement service group and maintains discussions with the outplacement service group regarding all offers of alternate employment made to the Executive.

Performance-Based Termination. The Company may terminate the Executive’s employment based on performance (“Performance-Based Termination”). To constitute a Performance-Based Termination, the Executive must receive a written warning setting forth the performance deficiency and be afforded the opportunity to cure performance for a period of 60 days following the date of the written warning. Following the 60-day cure period, if the Company determines that the Executive’s performance has not improved, the Company shall notify the Executive in writing of the Performance-Based Termination and the Executive shall have the opportunity to appeal the Performance-Based Termination to the Board of Directors of the Company within two (2) business days following the date of the Company’s notice of termination. Any determination by the Board shall be final and binding.

Performance-Based Termination. Liz may terminate the Executive’s employment based on performance (“Performance-Based Termination”). To constitute a Performance-Based Termination, the Executive must receive a written warning setting forth the performance deficiency and be afforded the opportunity to cure performance for a period of 60 days following the date of the written warning. Following the 60-day cure period, if Liz determines that the Executive’s performance has not improved, Liz shall notify the Executive in writing of the Performance-Based Termination and the Executive shall have the opportunity to appeal the Performance-Based Termination to the Board of Directors of Liz within two (2) business days following the date of Liz’s notice of termination. Any determination by the Board shall be final and binding.

Performance-Based Termination. AOL may terminate this Agreement upon ----------------------------- thirty (30) days written notice to Participant if AOL determines, in its reasonable discretion, that the Service is underdelivering a significant majority of traffic after [*] or if any regulation or law makes provision of the Service commercially unreasonable.

Performance-Based Termination. Any franchisee inducted in past six months will not be considered for this exercise. All such franchisees will be given 30 days notice to wind up operations. However monthly review for the franchisees who have been served a Notice of Termination will happen for next month as per the process outlined above and any monetary penalties will still be applicable on non-performance. Circles must complete the process of appointing new franchisee and hand-over arrangements within 90 days. Franchisees who are terminated will not be eligible to bid for franchisee EOI for that territory for the next two years. Circle/SSA may use look-after arrangement in these vacant territories.

Performance-Based Termination. Only after counselling and explanations of what is required, and following two written warnings. The final written warning will provide the employee with one day's paid leave to consider their position. In some cases the company may deem that the performance issue is so severe as to warrant the issuing of a final warning without previous discussions taking place.

Performance-Based Termination. If a Performance-Based Termination occurs then, subject to Section 4(g): (i) the Company shall pay to the Executive an amount equal to the Executive’s Accrued Salary; (ii) the Company shall provide Benefits Continuation for the Executive and the Executive’s family, as provided in Section 4(e) below; (iii) the Executive shall be eligible for a Pro-Rated Bonus payable at the time bonuses would otherwise be paid pursuant to the applicable bonus plan (which shall be within the “short-term deferral” period set forth in Section 409A of the Code); and (iv) the Company shall continue to pay to the Executive his or her base salary at the then-current rate for a period of 52 weeks, payable in accordance with the Company’s ordinary payroll practices, following the Performance-Based Termination, less an amount to be deducted on an after-tax basis equal to the Executive’s portion of the premiums applicable to the Benefits Continuation for such period. The payments and benefits set forth in Section 4(c)(ii)-4(c)(iv) are contingent on the Executive’s execution, delivery and non-revocation of the Release as provided for in Section 4(g). Payments pursuant to Section 4(c)(iv) shall commence on the 60th day following the Executive’s date of termination of employment and (B) within 14 calendar days following this payment commencement date, salary continuation payments relating to the first 60 days shall be paid in a lump sum. Notwithstanding the foregoing, if, and only to the extent required to avoid the imputation of any tax, penalty or interest pursuant to Section 409A of the Code, the aggregate payments pursuant to Section 4(c)(iv) (excluding those payments that constitute short-term deferrals under Code Section 409A) shall be reduced to the amount that is one dollar less than the maximum amount payable pursuant to a "separation pay plan" for separation pay due to involuntary separation from service as set forth in Section 409A of the Code and the regulations promulgated thereunder (the “Performance Severance Payment Limit”). The Company shall, in its sole discretion, determine if the amounts payable pursuant to Section 4(c)(iv) are in excess of the Performance Severance Payment Limit. In determining the aggregate payments pursuant to Section 4(c)(iv) subject to reduction, such amount shall be determined prior to giving effect to any deductions relating to the Executive’s portion of the premiums applicable to the Benefits Continuation. The Executive shall have no rights to...