Cessation of Active Practice definition

Cessation of Active Practice means a physician Stockholder's resignation from or termination of employment with the Medical Group (other than by reason of death or permanent disability).
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Cessation of Active Practice means a physician Stockholder's failure (other than by reason of death or permanent disability), throughout any twelve-month period ending on the day before any of the vesting dates described in paragraph 2(a) hereof, to engage in the practice of medicine with the Medical Group on a regular basis, including the performance of orthopedic surgical procedures on a regular basis (except in the case of any Stockholder who did not practice surgery on a regular basis immediately prior to the date hereof), such that (i) the Stockholder was engaged in patient care activities for less than seventy-five percent (75%) of the time that the Stockholder had been engaged in such activities during the twelve-month period immediately preceding the date hereof, and (ii) the Stockholder generated xxxxxxxx that were less than seventy-five percent (75%) of the amount of xxxxxxxx generated by the Stockholder during the twelve-month period immediately preceding the date hereof.
Sample 1Sample 2
Cessation of Active Practice means a physician Stockholder's failure (other than by reason of death or permanent disability), throughout any twelve-month period ending on the day before any of the vesting dates described in paragraph 2(a) hereof, to engage in the practice of medicine with the Medical Group on a regular basis, including the performance of orthopedic surgical procedures on a regular basis (except in the case of any Stockholder who did not practice surgery on a regular basis immediately prior to the date hereof), such that (i) the Stockholder was engaged in patient care activities with the Medical Group for less than seventy-five percent (75%) of the time that the Stockholder had been engaged in such activities during the twelve-month period immediately preceding the date hereof, and (ii) the Stockholder generated xxxxxxxx with the Medical Group that were less than seventy-five percent (75%) of the amount of such xxxxxxxx generated by the Stockholder during the twelve-month period immediately preceding the date hereof; provided, however, that if a Stockholder satisfies all of the foregoing criteria except that the Stockholder has ceased to conduct his medical practice with the Medical Group, there shall not have been a Cessation of Active Practice within the meaning of this provision if (A) the Stockholder enters into a Management Services Agreement with the Company substantially in the form of the Management Services Agreement entered into by and between the Medical Group and the Company and (B) the Stockholder enters into a new Stockholder Non-Competition Agreement with the Company substantially in the form of the Stockholder Non-Competition Agreement executed by the Stockholder in connection with the Management Services Agreement entered into by and between the Medical Group and the Company.
Sample 1

Examples of Cessation of Active Practice in a sentence

  • In the event of the Cessation of Active Practice by or the death or permanent disability of a Stockholder (the "Forfeiture Event"), the following provisions shall apply.

  • In such case, vesting of the Restricted Stock shall be postponed by one year for each year that a Cessation of Active Practice has occurred.

  • In the event of the Cessation of Active Practice by or the death or permanent disability of the Stockholder (the "Forfeiture Event"), the following provisions shall apply.

  • For example, if there is a Cessation of Active Practice during the second year, the Stockholder would be vested as to 25% of the Restricted Stock as of the end of the second year, and if there is no Cessation of Active Practice during the following three years, the Restricted Stock would become vested as to a cumulative 50%, 75%, and 100%, respectively, at the end of the third, fourth, and fifth years, respectively, under this Agreement.

  • Xxxxxxxx) (As to Xx. Xxxxxxx) --------- ------------------ -------------------- ------------------- First 29,591 18,808 29,187 Second 38,625 27,346 38,356 Third 47,658 35,885 47,524 Fourth 56,692 44,423 56,692 In the event that the Restricted Stock does not vest at the end of any year under this Agreement based on Cessation of Active Practice by the Stockholder, the Restricted Stock may nonetheless become vested in any subsequent year in which a Cessation of Active Practice does not occur.


More Definitions of Cessation of Active Practice

Cessation of Active Practice means a physician Stockholder's failure (other than by reason of death or permanent disability) to engage in the practice of medicine with the Medical Group on a regular basis, including the performance of orthopedic surgical procedures on a regular basis (except in the case of any Stockholder who did not practice surgery on a regular basis immediately prior to the date hereof); provided, however, that if a Stockholder has ceased to conduct his medical practice with the Medical Group, there shall not have been a Cessation of Active Practice within the meaning of this provision if (A) the Stockholder enters into a Management Services Agreement with the Company substantially in the form of the Management Services Agreement entered into by and between the Medical Group and the Company and (B) the Stockholder enters into a new Stockholder Non-Competition Agreement with the Company substantially in the form of the Stockholder Non-Competition Agreement executed by the Stockholder in connection with the Management Services Agreement entered into by and between the Medical Group and the Company."
Sample 1
Cessation of Active Practice means a physician Stockholder's failure (other than by reason of death), throughout any twelve-month period (the "Determination Period") ending on the day before any of the vesting dates described in Section 2(a) hereof, to engage in the practice of medicine with the Medical Group on a regular basis, including the performance of orthopedic surgical procedures on a regular basis (except in the case of any Stockholder who did not practice surgery on a regular basis immediately prior to the date hereof), such that (i) the Stockholder was engaged in patient care activities for less than seventy-five percent (75%) of the time that the Stockholder had been engaged in such activities during the twelve-month period immediately preceding the date hereof, and (ii) the Stockholder generated xxxxxxxx that were less than seventy-five percent (75%) of the amount of xxxxxxxx generated by the Stockholder during the twelve-month period immediately preceding the date hereof. Notwithstanding anything to the contrary contained herein, for purposes of making the determination described in clauses (i) and (ii) above with respect to the Stockholder for any Determination Period, the activities and xxxxxxxx of the Stockholder shall be aggregated with the activities and xxxxxxxx of Dr. Xxxxxx Xxxxx, for so long as Xx. Xxxxx continues to be employed by the Medical Group.
Sample 1
Cessation of Active Practice means a physician Stockholder's failure (other than by reason of death or permanent disability), throughout any twelve-month period ending on the day before any of the vesting dates described in paragraph 2(a) hereof, to engage in the practice of medicine with the Medical Group on a regular basis, including the performance of orthopedic surgical procedures on a regular basis (except in the case of any Stockholder who did not practice surgery on a regular basis immediately prior to the date hereof), such that (i) the Stockholder was engaged in patient care activities for less than seventy-five percent (75%) of the time that the Stockholder had been engaged in such activities during the twelve-month period immediately preceding the date hereof, and (ii) the Stockholder generated xxxxxxxx that were less than seventy-five percent (75%) of the amount of xxxxxxxx generated by the Stockholder during the twelve-month period immediately preceding the date hereof. (e) If the Stockholder is insured under a disability insurance policy, the determination under such policy as to whether the Stockholder's condition constitutes a permanent disability shall be binding on the parties hereto for purposes of this Agreement. If the Stockholder is not insured under a policy of disability insurance, such determination shall be made by an independent qualified physician proposed by the Medical Group, subject to the approval of the Company, which approval shall not be unreasonably withheld.
Sample 1
Cessation of Active Practice means a physician Stockholder's failure (other than by reason of death or permanent disability) to engage in the practice of medicine with the Medical Group on a regular basis, including the performance of orthopedic surgical procedures on a regular basis (except in the case of any Stockholder who did not practice surgery on a regular basis immediately prior to the date hereof).
Sample 1

Related to Cessation of Active Practice

  • Violent criminal activity means any criminal activity that has as one of its elements the use, attempted use, or threatened use of physical force substantial enough to cause, or be reasonably likely to cause, serious bodily injury or property damage.

  • Unfair labor practice means the commission of an act designated an unfair labor practice

  • Professional employer organization means an employee leasing

  • Professional employer agreement means a written contract by and between a client and a PEO that provides for the following:

  • Anti-competitive Practice means any collusion, bid rigging or anti-competitive arrangement, or any other practice coming under the purview of The Competition Act 2002, between two or more bidders, with or without the knowledge of the Purchaser, that may impair the transparency, fairness and the progress of the procurement process or to establish bid prices at artificial, non-competitive levels;

  • Drug-related criminal activity means the illegal manufacture, sale, distribution, use, or possession with intent to manufacture, sell, distribute, or use of a controlled substance (as defined in Section 102 or the Controlled Substance Act [21 U.S.C. 802]).

  • Intentional Wrongdoing means an act or omission taken or omitted by a Party with knowledge or intent that injury or damage could reasonably be expected to result.