How is Terminal Leave defined in a legal contract?
- Terminal Leave means the allocation of earned and/or half-pay leave provided to an employee upon the cessation of their services due to the abolishment of their role. Seen in 2 SEC filings
- Terminal Leave means the vacation or break taken by an employee just before their retirement, extending up until their established retirement date. Only the employee's accrued vacation and sick leave can be used in this situation. Seen in 2 SEC filings
Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Terminal Leave means the allocated leave just before an employee's retirement or cessation of services.
Relevant Contract Types
- Employment Contracts
- Director Service Agreements
- Partnership Agreements
- Consultant Agreements
- Independent Contractor Agreements
Relevant Circumstances
- Staff downsizing or restructuring
- Retirement of staff members
- Transitioning staff member roles
Relevant Sectors
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Terminal Leave means the allocated leave just before an employee's retirement or cessation of services.
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