Termination of Employee Status Sample Clauses

Termination of Employee Status. If Grantee ceases to be an employee of the Company:
Sample 1Sample 2Sample 3See All (7)
AutoNDA by SimpleDocs
Termination of Employee Status. (a) An employee who is absent from employment because of illness or injury not arising out of employment shall retain status as an employee for a period of six (6) months or accumulated sick leave, whichever is greater. Status as an employee may be extended for further periods at the discretion of the Superintendent of Schools upon written notice to the Union prior to the expiration of said six (6) month period. Any extension of the time shall be for a stated period and any subsequent extension must be granted prior to the expiration of such stated period and may be made upon written notice to the Union.
Sample 1Sample 2
Termination of Employee Status. (a) Should the Grantee’s service as a employee of the Company terminate for any reason (other than Disability, Death or cause), this Option may be exercised (to the extent such Option was exercisable at the time of termination) for a period of 90 days from the date of such termination or until the Expiration Date, whichever period is shorter.
Sample 1Sample 2
Termination of Employee Status. The effect on your New Options of the termination of your status as an employee of Redback or one of our subsidiaries or affiliates will be set forth in your new option agreement. Generally, your options will expire following the termination of your employment, and you will have the opportunity to exercise the vested portion of your option within the time frame permitted by your stock option agreement, but in no event later than the expiration of the maximum term of your option (which, for your New Option, will be five (5) years). If your termination of employment is due to any reason other than death or your total and permanent disability, the time period in which you may exercise your options, to the extent that they were exercisable immediately before such termination, is generally a period of three (3) months from the date of termination. In the event that the termination of your employment is by reason of death, your options will generally become fully exercisable and your executors, ----------------- administrators, legatees or distributees of your estate, may exercise any option held by you at the date of your employment termination within the time frame permitted by your stock option agreement, which is generally a period of twelve (12) months after your death. In the event that the termination of your employment is by reason of your permanent or total disability, the vesting of your options will generally accelerate by a period of twelve (12) months and you may exercise any options held by you at the date of your employment termination, to the extent exercisable with the additional twelve (12) months vesting credit, within the time frame permitted by your stock option agreement, which is generally a period of six (6) months following such termination. Please note that if your Old Options were subject to any special acceleration provisions included in your old option agreement or in another agreement with Redback, your New Options will be subject to the same provisions, and will be set forth in your new option agreement. Generally, except as described above, if you cease to be an employee of Redback or one of our subsidiaries or affiliates, all unvested portions of your -------- New Options will be cancelled and you will lose all rights with respect to them. This applies even if your Old Option would have been fully vested. As a result, you may not have the opportunity to exercise as much of your New Options as you would have been able to exercise ...
Sample 1Sample 2
Termination of Employee Status. (a) An Employee who is absent from his/her employment because of illness or injury not arising out of his/her employment shall retain his/her status as an Employee for a period of six (6) months in addition to his/her accumulated sick leave. His/her status as an Employee may be extended for further periods at the discretion of the Employer upon written notice to the Union prior to the expiration of said six (6)-month period. Any extension of the time shall be for a stated period and any subsequent extension must be granted prior to the expiration of such stated period and may be made upon written notice to the Union.
Sample 1
Termination of Employee Status 
Sample 1Sample 2Sample 3See All (4)

Related to Termination of Employee Status

  • 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.

  • Termination of Employees Agent may in its discretion stop using any Retained Employee at any time during the Sale, subject to the conditions provided for herein. In the event that Agent desires to cease using any Retained Employee, Agent shall notify Merchant at least seven (7) days prior thereto, so that Merchant may coordinate the termination of such employee; provided, however, that, in the event that Agent determines to cease using an employee “for cause” (which shall consist of dishonesty, fraud or breach of employee duties), the seven (7) day notice period shall not apply, provided further, however, that Agent shall immediately notify Merchant of the basis for such “cause” so that Merchant can arrange for termination of such employee. From and after the date of this Agreement and until the Sale Termination Date, Merchant shall not transfer or dismiss Retained Employees except “for cause” without Agent’s prior consent. Notwithstanding the foregoing, Agent shall not have the right to terminate the actual employment of any Retained Employee, but rather may only cease using such employee in the Sale and paying any Expenses with respect to such employee.

  • Termination of Employment for Cause If Optionee’s employment with the Bancorp or a subsidiary corporation is terminated for cause, this option shall expire thirty (30) days from the date of such termination. Termination for cause shall include, but not be limited to, termination for malfeasance or gross misfeasance in the performance of duties or conviction of a crime involving moral turpitude, and, in any event, the determination of the Board of Directors with respect thereto shall be final and conclusive.

  • Termination of Employees Employment For purposes of this Section 3.1(d), the term “pro rata portion” shall mean, with respect to any award of time-vested RSUs, time- vested RSAs or time-vested options, a percentage, when expressed as a fraction, the numerator of which is the number of days from and after the date that begins the vesting period applicable to such installment of RSUs, RSAs or options during which Employee was an employee of the Company, and the denominator of which is the total number of days in the vesting period(s) applicable to such installment of RSUs, RSAs or options assuming Employee had been an employee throughout such vesting period and no event or other matter occurred that would accelerate the vesting of such award. Any options that vest pursuant to this Section 3.1(d) shall remain exercisable through the post-termination exercise period set forth in or contemplated by the agreement evidencing the option. Notwithstanding anything to the contrary in this Agreement, if any payments, awards or benefits are owed or required to be settled or delivered to Employee under Section 3.3 hereof, then Employee shall not be entitled to any payment or benefit under this Section 3.1. Notwithstanding anything to the contrary in this Agreement, if any payments, awards or benefits are owed or required to be settled or delivered to Employee under Section 3.1(c) and (d) and Employee has attained Retirement Eligibility, then Employee shall be entitled to the greater of the payment or benefit under Section 3.1(c) and (d), determined on an aggregate basis with respect to the Eligible RSAs, on the one hand, or Section 3.2, determined on an aggregate basis with respect to the Eligible RSAs, on the other hand. Solely for purposes of this paragraph, the determination of the Eligible RSAs shall assume that the date of Retirement Termination of Employment shall be deemed to have occurred as of the date of the termination of his or her employment regardless of whether such termination occurred due to a Termination of Employee’s Employment or a Retirement Termination of Employment. 3.2

  • 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.

  • Cessation of Employment In the event Executive shall cease to be employed by the Company for any reason, then Executive's compensation and benefits shall cease on the date of such event, except as otherwise provided herein or in any applicable employee benefit plan or program.

Time is Money Join Law Insider Premium to draft better contracts faster.