Common use of Meaning of Termination of Employment Clause in Contracts

Meaning of Termination of Employment. For all purposes of this Agreement, Executive shall be considered to have terminated employment with the Company when Executive incurs a “separation from service” with the Company within the meaning of Section 409A(a)(2)(A)(i) of the Internal Revenue Code; provided, however, that whether such a separation from service has occurred shall be determined based upon a reasonably anticipated permanent reduction in the level of bona fide services to be performed to no more than 25% of the average level of bona fide services provided in the immediately preceding 36 months.

Appears in 28 contracts

Samples: Employment Agreement (Enviva Inc.), Employment Agreement (Enviva Inc.), Employment Agreement (Enviva Inc.)

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Meaning of Termination of Employment. For all purposes of this Agreement, Executive shall be considered to have terminated employment with the Company Employer when Executive incurs a “separation from service” with the Company Employer within the meaning of Section section 409A(a)(2)(A)(i) of the Internal Revenue Code; provided, however, that whether such a separation from service has occurred shall be determined based upon a reasonably anticipated permanent reduction in the level of bona fide services to be performed to no more than 25% of the average level of bona fide services provided in the immediately preceding 36 monthsCode and applicable administrative guidance issued thereunder.

Appears in 23 contracts

Samples: Employment Agreement, Employment Agreement, Employment Agreement (EQT Corp)

Meaning of Termination of Employment. For all purposes of this Agreement, Executive shall be considered to have terminated employment with the Company when Executive incurs a “separation from service” with the Company within the meaning of Section 409A(a)(2)(A)(i) of the Internal Revenue Code; provided, however, that whether such a separation from service has occurred shall be determined based upon a reasonably anticipated permanent reduction in the level of bona fide services to be performed to no more than 25% of the average level of bona fide services provided in the immediately preceding 36 monthsCode and applicable administrative guidance issued thereunder.

Appears in 13 contracts

Samples: Employment Agreement (West Texas Resources, Inc.), Employment Agreement (Atomera Inc), Employment Agreement (Atomera Inc)

Meaning of Termination of Employment. For all purposes of this Agreement, Executive shall be considered to have terminated employment with the Company when Executive incurs a “separation from service” with the Company within the meaning of Section section 409A(a)(2)(A)(i) of the Internal Revenue Code; provided, however, that whether such a separation from service has occurred shall be determined based upon a reasonably anticipated permanent reduction in the level of bona fide services to be performed to no more than 25% of the average level of bona fide services provided in the immediately preceding 36 monthsCode and applicable administrative guidance issued thereunder.

Appears in 12 contracts

Samples: Employment Agreement (Extraction Oil & Gas, Inc.), Employment Agreement (Extraction Oil & Gas, Inc.), Employment Agreement (Extraction Oil & Gas, Inc.)

Meaning of Termination of Employment. For all purposes of this Agreement, Executive Executive’s employment with the Company shall be considered to have terminated employment with the Company when Executive incurs a “separation from service” with the Company within the meaning of Section 409A(a)(2)(A)(i) of the Internal Revenue Code; provided, however, that whether such a separation from service has occurred shall be determined based upon a reasonably anticipated permanent reduction in Code and the level of bona fide services to be performed to no more than 25% of the average level of bona fide services provided in the immediately preceding 36 monthsapplicable Treasury regulations and interpretive guidance issued thereunder.

Appears in 11 contracts

Samples: Employment Agreement (Nine Energy Service, Inc.), Employment Agreement (Nine Energy Service, Inc.), Employment Agreement (Nine Energy Service, Inc.)

Meaning of Termination of Employment. For all purposes of this Agreement, Executive shall be considered to have terminated employment with the Company only when Executive incurs a “separation from service” with the Company within the meaning of Section 409A(a)(2)(A)(i) of the Internal Revenue Code; providedCode and applicable administrative guidance issued thereunder (“Separation From Service”). For purposes of any such provision of this Agreement relating to any such payments or benefits, however, that whether such references to a “termination,” “termination of employment” or like terms shall mean “separation from service has occurred shall be determined based upon a reasonably anticipated permanent reduction in the level of bona fide services to be performed to no more than 25% of the average level of bona fide services provided in the immediately preceding 36 monthsservice”.

Appears in 8 contracts

Samples: Employment Agreement (Cardtronics PLC), Employment Agreement (Cardtronics PLC), Employment Agreement (Cardtronics PLC)

Meaning of Termination of Employment. For all purposes of this Agreement, Executive shall be considered to have terminated employment with the Company when Executive incurs a “separation from service” with the Company within the meaning of Section 409A(a)(2)(A)(i) of the Internal Revenue Code; provided, however, that whether such a separation from service has occurred shall be determined based upon a reasonably anticipated permanent reduction in the level of bona fide services to be performed to no more than 25% of the average level of bona fide services provided in the immediately preceding 36 monthsCode and applicable administrative guidance issued thereunder.

Appears in 8 contracts

Samples: Employment Agreement (Vitesse Energy, Inc.), Employment Agreement (Vitesse Energy, Inc.), Employment Agreement (American Midstream Partners, LP)

Meaning of Termination of Employment. For all purposes of this Agreement, Executive shall be considered to have terminated employment with the Company when Executive incurs a “separation from service” with the Company within the meaning of Section section 409A(a)(2)(A)(i) of the Internal Revenue CodeCode and applicable administrative guidance issued thereunder; provided, however, that whether such a separation from service has occurred shall be determined based upon a reasonably anticipated permanent reduction in the level of bona fide services to be performed to no more than 2549% of the average level of bona fide services provided in the immediately preceding 36 months.

Appears in 8 contracts

Samples: Severance Agreement (Forum Energy Technologies, Inc.), Severance Agreement (Forum Energy Technologies, Inc.), Severance Agreement (Forum Energy Technologies, Inc.)

Meaning of Termination of Employment. For all purposes of this Agreement, Executive shall be considered to have terminated employment with the Company when Executive incurs a “separation from service” with the Company within the meaning of Section 409A(a)(2)(A)(i) of the Internal Revenue Code; provided, however, that whether such a 7 separation from service has occurred shall be determined based upon a reasonably anticipated permanent reduction in the level of bona fide services to be performed to no more than 25% of the average level of bona fide services provided in the immediately preceding 36 months.

Appears in 2 contracts

Samples: Employment Agreement (Enviva Partners, LP), Employment Agreement (Enviva Partners, LP)

Meaning of Termination of Employment. For all purposes of this Agreement, Executive shall be considered to have terminated employment with the Company only when Executive incurs a “separation from service” with the Company within the meaning of Section 409A(a)(2)(A)(i) of the Internal Revenue Code; provided, however, that whether such a separation from service has occurred shall be determined based upon a reasonably anticipated permanent reduction in the level of bona fide services to be performed to no more than 25% of the average level of bona fide services provided in the immediately preceding 36 monthsCode and applicable administrative guidance issued thereunder.

Appears in 2 contracts

Samples: Employment Agreement, Employment Agreement (Cardtronics Inc)

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Meaning of Termination of Employment. For all purposes of this Agreement, Executive shall be considered to have terminated employment with the Company when Executive incurs a “separation from service” with the Company within the meaning of Section 409A(a)(2)(A)(i) of the Internal Revenue Code; provided, however, that whether such a separation from service has occurred shall be determined based upon a reasonably anticipated permanent reduction in the level of bona fide services to be performed to no more than 25% of the average level of bona fide services provided in the immediately preceding 36 months.409A.

Appears in 1 contract

Samples: Employment Agreement (Extraction Oil & Gas, Inc.)

Meaning of Termination of Employment. For all purposes of this Agreement, Executive shall be considered to have terminated employment with the Company and the Parent Company only when Executive incurs a “separation from service” with the Company and the Parent Company within the meaning of Section 409A(a)(2)(A)(i) of the Internal Revenue Code; provided, however, that whether such a separation from service has occurred shall be determined based upon a reasonably anticipated permanent reduction in the level of bona fide services to be performed to no more than 25% of the average level of bona fide services provided in the immediately preceding 36 monthsCode and applicable administrative guidance issued thereunder (“Separation From Service”).

Appears in 1 contract

Samples: Employment Agreement (Cardtronics Inc)

Meaning of Termination of Employment. For all purposes of this Agreement, Executive shall be considered to have terminated employment with the Company when Executive incurs a “separation from service” with the Company within the meaning of Section 409A(a)(2)(A)(i) of the Internal Revenue Code; provided, however, that whether such a separation from service has occurred shall be determined based upon a reasonably anticipated permanent reduction in the level of bona fide services to be performed to no more than 25% of the average level of bona fide services provided in the immediately preceding 36 months.409A. EXHIBIT 10.2 ARTICLE IV

Appears in 1 contract

Samples: Employment Agreement (Extraction Oil & Gas, Inc.)

Meaning of Termination of Employment. For all purposes of this Agreement, Executive shall be considered to have terminated employment with the Company when Executive incurs a “separation from service” with the Company within the meaning of Section section 409A(a)(2)(A)(i) of the Internal Revenue CodeCode and applicable administrative guidance issued thereunder; provided, however, that whether such a separation from service has occurred shall be determined based upon a reasonably anticipated permanent reduction in the level of bona fide services to be performed to no more than 2520% of the average level of bona fide services provided in the immediately preceding 36 months.. COMPENSATION AND BENEFITS

Appears in 1 contract

Samples: Employment Agreement (Superior Well Services, INC)

Meaning of Termination of Employment. For all purposes of this Agreement, Executive shall be considered to have terminated employment with the Company when Executive incurs a “separation from service” with the Company within the meaning of Section section 409A(a)(2)(A)(i) of the Internal Revenue Code; provided, however, that whether such a separation from service has occurred shall be determined based upon a reasonably anticipated permanent reduction in the level of bona fide services to be performed to no more than 25% of the average level of bona fide services provided in the immediately preceding 36 monthsCode and applicable administrative guidance issued thereunder (including Treasury Regulation § 1.409A-l(h)(5)).

Appears in 1 contract

Samples: Employment Agreement (Extraction Oil & Gas, Inc.)

Meaning of Termination of Employment. For all purposes of this Agreement, Executive shall be considered to have terminated employment with the Company when Executive incurs a “separation from service” with the Company within the meaning of Section section 409A(a)(2)(A)(i) of the Internal Revenue Code; provided, however, that whether such a separation from service has occurred shall be determined based upon a reasonably anticipated permanent reduction in Code and the level of bona fide services to be performed to no more than 25% of the average level of bona fide services provided in the immediately preceding 36 monthsapplicable Treasury regulations and interpretive guidance issued thereunder.

Appears in 1 contract

Samples: Employment Agreement (Nine Energy Service, Inc.)

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