Common use of Repayment Forgiveness Clause in Contracts

Repayment Forgiveness. AMD agrees to forgive any repayment due AMD under this Agreement where AMD terminates Candidate’s employment due to a company or department-wide reduction-in-force, termination other than for Cause (as defined below), or termination due to Candidate’s death or disability rendering him unable to continue with employment. AMD may also, in its sole discretion, forgive any repayment due AMD under this Agreement under circumstances of an extraordinary or unavoidable nature. The Parties agree that Candidate’s voluntary termination of his/her employment, or AMD’s termination of Candidate’s employment for Cause, are not conditions requiring forgiveness of any repayment due AMD under this Agreement. For purposes of this Agreement, “Cause” to terminate employment is defined as a willful act of embezzlement, fraud or dishonesty which resulted in material loss, material damage or material injury to AMD, as determined by the Company.

Repayment Forgiveness. AMD agrees to forgive any repayment due AMD under this Agreement where AMD terminates Candidate’s employment due to a company company- or department-wide reduction-in-force, termination other than for Cause (as defined below), or termination due to Candidate’s death or disability rendering him unable to continue with employment. AMD may also, in its sole discretion, forgive any repayment due AMD under this Agreement under circumstances of an extraordinary or unavoidable nature. The Parties agree that Candidate’s voluntary termination of his/her employment, or AMD’s termination of Candidate’s employment for Cause, are not conditions requiring forgiveness of any repayment due AMD under this Agreement. For purposes of this Agreement, “Cause” to terminate employment is defined as a willful act of embezzlement, fraud or dishonesty which resulted in material loss, material damage or material injury to AMD, as determined by the Company.