There will be occasions where you may be liable to pay the early termination charges incurred by your employer under the lease agreement. For the sake of clarity, these occasions include the following:
If you resign (including in case of voluntary redundancy) less than 3 months of taking possession of the vehicle;
If you resign (including in case of voluntary redundancy) more than 3 months after taking possession of the vehicle, but recommence employment with your employer or any associated companies within 90 days of such resignation;
If you decide to end your participation in the scheme early due to a change in circumstances;
If your employer is required to terminate the lease agreement (including, without limitation, as a result of loss of your driving licence (other than on medical grounds));
If you materially breach the terms of this Handbook or the Driver Order Form;
If you breach the terms of your employment with your employer such that your employer terminates your participation in the scheme (including for committing one of the behaviours prohibited in the previous section);
If you resign in advance, and in anticipation, of a notification from your employer terminating your employment;
If you resign or are made redundant on or after the date you reach pensionable age (as determined under Schedule 4 of the Pensions Act 1995); or
You return the vehicle before your employer’s lease agreement expires due to Accidental Death, Long Term Sickness Absence or Parental Leave that did not meet the conditions for early termination protection or parental leave protection.
Please note that early termination charges could be up to 50% of the rental over for the remaining lease term.