Bad Leaver Event shall have the meaning as described in Section 5.1.
Bad Leaver Event means the termination of the employment of any Manager with the Company or its Affiliate:
(i) by the Company or its Affiliate for Cause; or
(ii) by the Manager without Good Reason prior to October 11, 2011;
Bad Leaver Event. : means the termination of the Professional Relationship between a Participant and a Group Company due to any of the reasons described in Article 6.2 of this Plan;
Examples of Bad Leaver Event in a sentence
If a Beneficiary’s service or employment relationship with the Company ends during the term of the SOP due to an event other than a Good Leaver Event (a “Bad Leaver Event”), all options of the Beneficiary vested but not exercised at the time a Bad Leaver Event occurs shall forfeit.
The Supervisory Board may within its discretion decide whether to grant to a Beneficiary advantages as from a Good Leaver event even though the end of a Beneficiary’s service or employment relationship constitutes a Bad Leaver Event as described in B.2. In case the Beneficiary concerned functions as a member of the Supervisory Board, the shareholders shall decide on the advantages granted to the Beneficiary as set forth above.
Upon and with effect as per the occurrence of a Bad Leaver Event, a Participant qualifying as a Bad Leaver shall automatically and immediately forfeit all unvested Restricted Stock Units and/or Performance Stock Units, without any indemnification, as of the Notification Date.
The revocation of a member of the Managing Board pursuant to a vote of non confidence by the General Assembly shall not constitute a Bad Leaver Event as long as no reason for justified dismissal is set by the Beneficiary.
If there is a dispute as to whether such departure is a Good Leaver Event or Bad Leaver Event, such disputes shall be resolved in accordance with Section 9.10.
More Definitions of Bad Leaver Event
Bad Leaver Event means, with respect to a Key Person, any of the following actions occurring during such Key Person’s term of employment with the Corporation or any Component Entity: (i) a conviction or plea of guilty or no contest for any felony or misdemeanor, which the iStar Representative and the BREDS Representative reasonably conclude brings the Key Person into disrepute or is likely to cause material harm to the Corporation (not including violations of routine vehicular laws); (ii) the Key Person’s indictment for any felony or misdemeanor involving moral turpitude (which the Board reasonably concludes brings the Key Person into disrepute or is likely to cause material harm to the Corporation or any Component Entity), if such indictment is not discharged or otherwise resolved within 18 months; (iii) the Key Person’s commission of an act of fraud, theft, dishonesty or breach of fiduciary duty related to the Corporation or any Component Entity or the performance of the Key Person’s duties; or (iv) the continuing failure or habitual neglect by the Key Person to perform the Key Person’s duties, except that, if such failure or neglect is curable, the Key Person shall have 30 days from his or her receipt of a written notice from either the iStar Representative or the BREDS Representative of such failure or neglect to cure such condition, and if the Key Person does so to the reasonable, but sole, satisfaction of the iStar Representative and the BREDS Representative (such cure opportunity being available only once), then such failure or neglect shall not constitute a Bad Leaver Event hereunder.
Bad Leaver Event means receipt by the relevant Partner With Asset Share or the relevant individual holding all of the shares in the relevant Partner With Asset Share, respectively, of a notice of termination of the consultancy, employment and/or service relationship of the relevant Partner With Asset Share or the relevant individual holding all of the shares in the relevant Partner With Asset Share, respectively, with the Company or an Affiliate, respectively, such termination to be declared by the Company/Affiliate due to dismissal on personal grounds or on grounds of conduct for cause within the meaning of Sec. 626 German Civil Code (wichtiger Xxxxx gemäß § 626 BGB), provided, however, that only the following personal grounds or grounds of conduct shall constitute cause within the meaning of Sec. 626 German Civil Code under this section: (i) fraud, embezzlement, theft or any other material violation of law that occurs during or in the course of the consultancy, employment and/or service relationship with the Company or relevant Affiliate, respectively; (ii) intentional or grossly negligent damage to any of the assets of the Company or relevant Affiliate, respectively; (iii) intentional or grossly negligent disclosure of any of the confidential information of the Company or relevant Affiliate, respectively, contrary to applicable policies, consultancy agreement, employment agreement and/or service agreement; (iv) breach of material obligations, or persistent breach of obligations, under the applicable consultancy agreement, employment agreement and/or service agreement; (v) intentional engagement in any competitive activity which would constitute a breach of the duty of loyalty and/or of the obligations under the applicable consultancy agreement, employment agreement and/or service agreement; (vi) intentional or grossly negligent breach of any of the policies of the Company or relevant Affiliate, respectively; (vii) the wilful and continued failure to substantially perform contractual duties for the Company or relevant Affiliate, respectively (other than as a result of incapacity due to physical or mental illness); or (viii) wilful conduct that is demonstrably and materially injurious to the Company or relevant Affiliate, respectively, monetarily or otherwise, provided that any failure to meet performance standards or objectives as such, shall not be deemed to constitute “cause”.
Bad Leaver Event means a Work Termination where the employment agreement is terminated for reasons for which the Employee is responsible. The Employee shall be regarded as responsible for any termination initiated by the Company which is based on (a) good cause (wichtiger Grund) on the part of the Company or (b) person-related or conduct-related reasons (Kündigung aus personen- oder verhaltensbedingten Gründen) according to German labour law.
Bad Leaver Event means when a Holder (i) terminates his or her employment with Sportradar or any of its affiliates or (ii) is terminated by Sportradar or any of its affiliates for Cause. For purposes of this definition, the term “Sportradar” shall include the Company.
Bad Leaver Event means, with respect to a Management Limited Partner, such Management Limited Partner ceasing to be employed by BidCo or any of its Subsidiaries for any reason other than a Good Leaver Event or a Retirement Leaver Event.
Bad Leaver Event means the termination of a Key Employee for Cause or the resignation of a Key Employee without Good Reason. “Bill of Sale” means that certain Bill of Sale and Assignment and Assumption Agreement by and between Seller and Buyer in the form ofExhibit C being executed and delivered concurrently herewith.