A settlement agreement, also known as a cancellation agreement, is an agreement by which employees and employers reach an amicable agreement on the termination of employment. This is called mutual consent. They are always entitled to a transitional indemnity in the event of amicable termination by a settlement agreement. Dutch labour law prohibits employers from terminating the employment contracts of workers on sick leave. However, after two or more years during which a worker cannot work because of a long-term illness or disability, the employer may submit an application for termination of employment contract provided that he has fulfilled all his obligations during the period of illness. Dutch workers made redundant due to illness or long-term incapacity for work are entitled to a transitional allowance for the entire duration of employment. 1. Resignation. You resign as the Company`s Chief Financial Officer and as a Director and Director of all subsidiaries and associates of the Company, with effect from the date of this Agreement (the «Effective Date»).
They agree to serve as a non-executive officer of the company and to provide temporary work services from the effective date until June 30, 2012 (the end date and this period, the «transition period»). Except in this case, the Company has no other obligations to you after the effective date, including the Correspondence Agreement of March 17, 2010 (the «Employment Contract») (including sections 3.8 and 3.9 of the Employment Contract). The wholesale terms used in this Agreement, which are not defined in this Agreement, have the meaning used or defined in the Employment Contract. This employment transition agreement («Agreement») will be entered into on or after July 25, 2017 (the «Performance Date») by and between VENTAS, INC., a Delaware corporation (the «Company»), and Todd W. Lillibridge («Employees»). The Agreement (the «Effective Date») will apply from the start date of (i) to the start date of the employee`s successor (the «Transition Date») and (ii) February 14, 2018, provided that the Employee remains employed by the Company until that date. For the avoidance of doubt, the agreement terminates and is not effective and effective if the employee`s employment relationship with the company ends before the effective date. . . .