Common use of Status of Employment Clause in Contracts

Status of Employment. You agree that you will no longer serve as Chief Financial Offer, effective May 1, 2021 but you will remain an employee of the Company, in an advisory role, until your termination of employment with the Company effective September 30, 2021 (the “Separation Date”). You further agree that your termination of employment on the Separation Date shall be treated as set forth in Paragraph 2 of this Separation Agreement. You also agree that, as of the Separation Date, you will terminate from all other positions you hold (if any) as an officer, employee or director of the Company and the Company’s subsidiaries and affiliates, and that you will promptly execute any documents and take any actions as may be necessary or reasonably requested by the Company to effectuate or memorialize your termination from all positions with the Company and its subsidiaries and affiliates.

Appears in 1 contract

Samples: Separation Agreement (Trimas Corp)

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Status of Employment. You agree that you will no longer serve as Chief Financial OfferSenior Vice President, General Counsel and Corporate Secretary, effective May 1March 5, 2021 2021, but you will remain an employee of the Company, Company in an advisory role, capacity until your termination of employment with the Company effective September 30May 11, 2021 (the “Separation Date”). You further agree that your termination of employment on the Separation Date shall be treated as set forth in Paragraph 2 of this Separation Agreement. You also agree that, as of the Separation Date, you will terminate from all other positions you hold (if any) as an officer, employee or director of the Company and the Company’s subsidiaries and affiliates, and that you will promptly execute any documents and take any actions as may be necessary or reasonably requested by the Company to effectuate or memorialize your termination from all positions with the Company and its subsidiaries and affiliates.

Appears in 1 contract

Samples: Separation Agreement (Trimas Corp)

Status of Employment. You agree that you will no longer serve as Chief Financial Offerthat, effective May 1September 15, 2021 but you will remain an employee of the Company, in an advisory role, until your termination of employment with the Company effective September 30, 2021 2023 (the “Separation Date”), you will no longer serve as the Company’s Executive Vice President, Chief Administrative Officer and your employment with the Company and all of its subsidiaries is terminated. You further agree that your termination of employment on the Separation Date shall be treated as set forth in Paragraph Section 2 of this Separation Agreement. You also agree that, as of the Separation Date, you will terminate from all other positions you hold (if any) as an officer, employee or director of the Company and the Company’s subsidiaries and affiliates, and that you will promptly execute any documents and take any actions as may be necessary or reasonably requested by the Company to effectuate or memorialize your termination from all positions with the Company and its subsidiaries and affiliates.

Appears in 1 contract

Samples: Separation Agreement and Release (JOANN Inc.)

Status of Employment. You agree that you will no longer serve as Chief Financial Offerthat, effective May 18, 2021 but you will remain an employee of the Company, in an advisory role, until your termination of employment with the Company effective September 30, 2021 2023 (the “Separation Date”), you no longer serve as the Company’s President and Chief Executive Officer and your employment with the Company and all of its subsidiaries is terminated. You further agree that your termination of employment on the Separation Date shall be treated as set forth in Paragraph Section 2 of this Separation Agreement. You also agree that, as of the Separation Date, you will terminate from all other positions you hold (if any) as an officer, employee or director of the Company and the Company’s subsidiaries and affiliates, and that you will promptly execute any documents and take any actions as may be necessary or reasonably requested by the Company to effectuate or memorialize your termination from all positions with the Company and its subsidiaries and affiliates.

Appears in 1 contract

Samples: Separation Agreement and Release (JOANN Inc.)

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Status of Employment. You agree that you will no longer serve as Chief Financial OfferCommercial Officer of the Company effective as of May 13, effective May 12022 (the “Transition Date”), 2021 but you will remain an employee of the Company, in an advisory role, Company until your termination of employment with the Company effective September 30, 2021 2022 (or such earlier date as determined by the Company solely in its option) (the “Separation Date”). You further agree that your termination of employment on the Separation Date shall be treated as set forth in Paragraph 2 3 of this Separation Agreement. You also agree that, as of the Separation Date, you will terminate from all other positions you hold (if any) as an officer, employee or director of the Company and the Company’s subsidiaries and affiliates, and that you will promptly execute any documents and take any actions as may be necessary or reasonably requested by the Company to effectuate or memorialize your termination from all positions with the Company and its subsidiaries and affiliates.

Appears in 1 contract

Samples: Separation Agreement (PureCycle Technologies, Inc.)

Status of Employment. You agree that you will no longer serve terminate from your position as Executive Vice President and Chief Financial OfferOperating Officer of the Company as of the Effective Date, effective May 1, 2021 but you will remain thereafter serving as an employee of the Company, in Company until you terminate as an advisory role, until your termination employee of employment with the Company effective September 30December 13, 2021 2020 (the “Separation Date”). You further agree that your termination of employment on the Separation Date shall be treated as set forth in Paragraph 2 of this Separation Agreement. You also agree that, as of the Separation Date, you will terminate resign from all other positions (including any directorships) you hold (if any) with, and as an officeremployee of, employee or director of the Company and the Company’s subsidiaries and affiliates, as applicable, and that you will promptly execute any documents and take any actions as may be necessary or reasonably requested by the Company to effectuate or memorialize your termination from all positions with the Company and its subsidiaries and affiliates. You agree that the terminations described in this Paragraph 1 shall be treated as set forth in Paragraph 2 of this Separation Agreement.

Appears in 1 contract

Samples: Separation Agreement (SITE Centers Corp.)

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