Severance and Termination Clause Samples
The Severance and Termination clause defines the conditions and procedures under which an agreement may be ended by either party. It typically outlines the notice requirements, grounds for termination (such as breach or insolvency), and any obligations that survive termination, like payment of outstanding amounts or return of confidential information. This clause ensures both parties understand their rights and responsibilities if the relationship ends, providing a clear process for winding down the agreement and minimizing disputes.
Severance and Termination. Voluntary Termination, Termination for Cause, Termination for Death or Disability. In the case of a termination of the Employee’s employment hereunder for Death or Disability in accordance with Section 1.5.1 above, or the Employee’s Voluntary termination of employment hereunder in accordance with Section 1.5.2 above, or a termination of the Employee’s employment hereunder for Cause in accordance with Section 1.5.3 above, (i) the Employee shall not be entitled to receive payment of, and the Company shall have no obligation to pay, any severance or similar compensation attributable to such termination, other than Base Salary earned but unpaid as of the termination date, and payment related to accrued but unused vacation, and (ii) the Company’s obligations under this Agreement shall immediately cease.
Severance and Termination. 14.01 If any permanent employee's position with the employer is terminated by the employer after satisfactory completion of the probationary period, then that employee will receive severance pay equivalent to two weeks basic salary for each completed year of service with a minimum payment of three weeks basic salary after six months service. Service beyond a complete year will qualify for part of two weeks pay on a pro rata basis. The maximum severance pay is 48 weeks salary.
14.02 An employee will not qualify for severance pay if he/she is dismissed for gross misconduct, just cause or leaves voluntarily.
14.03 All employees will be provided with not less than one weeks notice of termination of employment except in the case of gross misconduct where termination is immediate. In turn, employees are expected to provide at least one weeks notice before resigning. Subject to the provisions of The Employment Standards Code, Section 58, 2b) – i), in the event an employee fails to provide notice as required a recovery of notice not given to a maximum of one week will be permitted. This will only apply to employees who have completed their probationary period.
14.04 If an employee's position has been eliminated by a change in technology and that employee is offered the opportunity to leave the employer and chooses to do so, rather than retrain for another job within the company, then that employee will also receive termination pay as described in 14.01.
14.05 Employees receiving severance pay as described in 14.01 who wish to return to employment with the employer must repay the full amount of their severance pay, less one (1) week for each week, which has elapsed since they ceased employment with the employer.
14.06 The provisions of this Article includes and are not in addition to the terms of the Employment Standards Code. The provisions of this Article are the only obligation of the Red Deer Advocate for notice or pay in lieu of notice of termination.
Severance and Termination. In the case of a termination of Executive’s employment hereunder for any reason including and without limitation, termination without Cause, (i) Executive shall not be entitled to receive payment of, and the Company shall have no obligation to pay, any severance or similar compensation attributable to such termination, other than Base Salary earned but unpaid, accrued but unused vacation, vested benefits under any employee benefit plan, and any unreimbursed expenses incurred by Executive as of the termination date, and (ii) the Company’s obligations under this Agreement shall immediately cease.
Severance and Termination. Obligations Section 4.1(i)..................................
Severance and Termination. 14.01 If any permanent employee's position with the employer is terminated by the employer after satisfactory completion of the probationary period, then that employee will receive termination pay equivalent to two week's basic salary for each completed year of service with a minimum payment of three weeks basic salary after six months service. Service beyond a complete year will qualify for part of two week's pay on a pro rata basis. The maximum termination pay is 44 weeks salary effective on the date of ratification. Effective March 1, 2013, the maximum termination pay is 44 weeks salary.
14.02 An employee will not qualify for termination pay if he/she is dismissed for gross misconduct, just cause or leaves voluntarily.
14.03 All employees will be provided with not less than one week's notice of termination of employment except in the case of gross misconduct where termination is immediate. In turn, employees are expected to provide at least one week's notice before resigning. Subject to the provisions of The Employment Standards Code, Section 58, 2b) – i), in the event an employee fails to provide notice as required a recovery of notice not given to a maximum of one week will be permitted. This will only apply to employees who have completed their probationary period.
14.04 If an employee's position has been eliminated by a change in technology and that employee is offered the opportunity to leave the employer and chooses to do so, rather than retrain for another job within the company, then that employee will also receive termination pay as described in 14.01.
14.05 Employees receiving severance pay as described in 14.01 who wish to return to employment with the employer must repay the full amount of their severance pay, less one (1) week for each week, which has elapsed since they ceased employment with the employer.
Severance and Termination