Impact of Termination of Employment Sample Clauses

Impact of Termination of Employment. Notwithstanding the foregoing, any provision in the resolutions of the board of directors of the Company dated October 21, 2016, the Company annual incentive plan under which the 2016 Annual Bonus was granted, the grant documentation governing the 2016 Equity Awards, or otherwise (i) in the event that the Executive’s employment is terminated prior to the consummation of the Transaction by the Company for any reason, by the Executive for “Good Reason”, or due to the Executive’s death or “Incapacity” (in each case, as such term is defined in the Executive’s employment agreement with the Company as in effect on the date hereof), the Executive shall be entitled to receive all of the benefits under the 2016 Equity Awards (based on full vesting and assuming maximum performance was achieved in the case of performance-vesting restricted stock units, with payment to be made upon the consummation of the Transaction) and the 2016 Annual Bonus (to the extent not already vested and paid) in accordance with the terms and conditions thereof as if the Executive’s employment had not been so terminated, and (ii) the 2016 Annual Bonus shall in all events be paid to the Executive on or before December 31, 2016.
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Impact of Termination of Employment. Upon the Executive’s termination of employment pursuant to Section 4(e) of the Employment Agreement, in addition to the payments described in Section 4(e) of the Employment Agreement, the Company shall provide the Executive with Company-paid customary and market outplacement services for a period of twelve (12) months or until the Executive obtains substantially comparable employment, whichever is shorter.
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Impact of Termination of Employment. The vesting and term of any Options will change if you terminate employment, according to the following table: Termination of Employment Event Impact on Unvested Options Exercise Period for Vested Options (But in No Event Beyond the Original Option Term ) Disability 1 Vest fully 3 years Retirement 2 Vest fully 5 years Death Vest fully 3 years Any other type of termination not for cause3 Forfeited 90 days Any termination for cause3/4 Forfeited Forfeited 1Disability means any physical or mental condition which would qualify you for a disability benefit under the long-term disability plan maintained by the Company and applicable to you, or if no such disability plan exists, as determined by the Committee. 2Retirement means any retirement under the Southern Company Pension Plan. If you die within the 5-year period for exercise after the date of your termination, your executor will have 3 years from the date of your death to exercise (subject to the expiration of the original 10-year term of the Option). 3Cause is determined by the Committee. 4Any termination for cause includes any type of termination (including, but not limited to, a voluntary or involuntary resignation by you, a voluntary or involuntary termination by the Company, your termination with severance, your retirement, or your termination because of a disability) if such termination is related to cause. Options that are not and do not become exercisable at the time of your termination of employment will, coincident therewith, terminate and be of no force or effect.
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Impact of Termination of Employment. The vesting and term of any Options will change if you terminate employment, according to the following table:
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Impact of Termination of Employment. Unless otherwise determined by the Committee in its sole discretion, the right to any cash payment or Phantom Unit grant in respect of an Award hereunder shall be subject to the Participant’s continued employment in good standing with the Company on the date of payment or grant with respect to the Award, as applicable. Unless otherwise determined by the Committee in its sole discretion, if the Company has terminated the Participant’s employment, or if the Participant gives notice of termination of employment with the Company, at any time prior to such payment or grant, such Participant shall not be considered to be in good standing and shall not be eligible to receive such payment. For purposes of clarity, the Participant’s termination of employment following the Grant Date for the Phantom Portion shall not result in a forfeiture of the Phantom Portion, even if such Phantom Portion has been designed to receive a deferred settlement in accordance with Section 5(d) above.
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Impact of Termination of Employment. (a) If the Executive is involuntarily terminated without cause or quits for good reason following, but prior to the second anniversary of, the closing of the Merger, he will be entitled to severance equal to the benefits provided under the Progress Energy Inc. Management Change-in-Control Plan, as amended from time to time, except that no tax gross-up shall be provided, and the parties shall use their best efforts to structure the severance in a manner that eliminates or reduces the impact of Sections 280G and 4999 of the tax code.
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Impact of Termination of Employment. To the extent that performance shares are to be delivered to Executive in connection with or following Executive’s termination of employment, then except as set forth in paragraph 4 below, the number of performance shares delivered to Executive shall be based on actual performance for the performance period covered by each such grant, with such performance shares delivered by March 15th of the calendar year following the end of the applicable performance period or if March 15th is not a business day the closest business day thereto.
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Impact of Termination of Employment. The vesting and term of your options will change if you terminate employment during the Option Term, according to the following table (but in no event shall the term of an Option be extended beyond the original Option Term: ---------------------------------------------------------------------------------------------------- Employment Event Impact of Exercise Period for Vested Termination Options ollowing Termination on Vesting (After Which the Options Shall Lapse) ----------------------------------------------------------------------------------------------------
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Related to Impact of Termination of Employment

  • Effect of Termination of Employment The provisions of this Section 6 shall apply in the event of termination of Executive’s employment, pursuant to Section 5, or otherwise.

  • Other Termination of Employment In the event of your voluntary termination (other than a Retirement subject to Section 2(c) or a Qualifying Termination subject to Section 2(f)), or termination by the Company or a subsidiary of the Company for misconduct or other conduct deemed by the Company to be detrimental to the interests of the Company or a subsidiary of the Company, you shall forfeit all unvested RSUs on the date of termination.

  • Notice of Termination of Employment 2601 Employment may be terminated voluntarily by a nurse or for just cause by the Employer subject to the following periods of written notice, exclusive of any vacation due:

  • TERMINATION OF EMPLOYMENT; EFFECT OF TERMINATION (a) The Term of Employment may be terminated by the Company at any time:

  • Termination of Employment Executive's employment hereunder may be terminated under the following circumstances:

  • Voluntary Termination of Employment If during the Employment Term, Executive terminates his employment under circumstances other than those specified elsewhere in this Section 8, Executive shall be entitled to the payments and benefits specified in Section 8(a).

  • Involuntary Termination of Employment If the Executive exercises his withdrawal rights pursuant to Subsection 2.2, and the Executive's employment with the Bank is involuntarily terminated for any reason including termination due to disability of the Executive, but excluding termination for Cause, or termination following a Change in Control, within thirty (30) days of such involuntary termination of employment, the Bank shall be required to record a final Phantom Contribution in an amount equal to: (i) the full Phantom Contribution required for the Plan Year in which such involuntary termination occurs, if not yet made, plus (ii) the present value (computed using a discount rate equal to the Interest Factor) of all remaining Phantom Contributions.

  • Qualifying Termination of Employment A “Qualifying Termination of Employment” shall mean a termination of Executive’s employment during the Protected Period either (a) by the Company other than for Cause or (b) by Executive for a Good Reason. The Executive’s death or Disability during the Protected Period shall not constitute a Qualifying Termination of Employment.

  • Termination of Employment; Change in Control (i) For purposes of the grant hereunder, any transfer of employment by the Optionee among the Corporation and the Subsidiaries shall not be considered a termination of employment. If the Optionee's employment with the Corporation is terminated for Cause (as defined in the last Section hereof), the Option, whether or not then vested, shall be automatically terminated as of the date of such termination of employment. If the Optionee's employment with the Corporation shall terminate other than by reason of Retirement (as defined in the last Section hereof), Disability (as defined in the last Section hereof), death or Cause, the Option (to the extent then vested) may be exercised at any time within ninety (90) days after such termination (but not beyond the Term of the Option). The Option, to the extent not then vested, shall immediately expire upon such termination. If the Optionee dies or becomes Disabled (A) while employed by the Corporation or (B) within 90 days after the termination of his or her employment other than for Cause or Retirement, the Option (to the extent then vested) may be exercised at any time within one year after the Optionee's death or Disability (but not beyond the Term of the Option). The Option, to the extent not then vested, shall immediately expire upon such death or disability. If the Optionee's employment terminates by reason of Retirement, the Option shall (A) become fully and immediately vested and exercisable and (B) remain exercisable for three years from the date of such Retirement (but not beyond the Term of the Option).

  • Compensation Following Termination of Employment In the event that Executive's employment hereunder is terminated, Executive shall be entitled to the following compensation and benefits upon such termination:

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