Cessation of Service definition

Cessation of Service means (i) the cessation of the employee-employer relationship between the Grantee, who was an employee of the Company on the Date of Grant of any Awards to him or her, and the Company, for any reason; or (ii) the cessation of service of a Grantee, who was a director of the Company on the Date of Grant of any Awards to him or her, as a director of the Company, for any reason; or (iii) the termination or expiration of an agreement between the Company and a Grantee who was a consultant or contactor of the Company on the Date of Grant of any Awards to him or her, for any reason.

Cessation of Service means Grantee’s cessation of providing services as a Service Provider of the Company.

Cessation of Service means the cessation of the employee-employer relationship between the Grantee and the Company for any reason; “Cessation of Service” shall not include: (i), and (ii) the transfer of a Grantee from the employ of Tower to the employ of an Affiliate, or from the employ of an Affiliate to the employ of the Tower or another Affiliate.

Examples of Cessation of Service in a sentence

• The Director’s rights with respect to the Share Units received in exchange for the Exchanged Shares, as well as the terms and conditions of the Share Units, are those as described in the Stock Deferral Plan; provided, however, vesting of the Share Units and the rights to the Share Units upon Director’s Cessation of Service on the Board shall be determined under Section 1(c) and Section 2 of this Agreement, as applicable.

• In the event of Cessation of Service of a Grantee, who is a director, consultant or contractor of the Company, the provisions of Section 8.6(a) above shall apply, mutatis mutandis.

• The provisions of Section 10 through Section 33, inclusive, and any additional Sections of this Agreement as required to give effect to or to enforce the foregoing, shall survive any Cessation of Service or any expiration or termination of this Agreement or the Option Term, and provided that any expiration or termination of this Agreement shall not excuse a Party from compliance with, or fulfillment of, any obligations or conditions which arose prior to such expiration or termination.

• For the avoidance of doubt, a Cessation of Service shall not be deemed to occur (i) if Holder ceases to serve as a director of the Company but continues to serve as an officer of the Company, or (ii) if Holder ceases to serve as an officer of the Company but continues to serve as a director of the Company, and the intent of this provision is that a Cessation of Service shall only be deemed to occur of the Holder ceases to serve in any position as a director or officer of the Company.

• However the extension of repayment is not to be granted to employees who have been imposed compulsory retirement or tendered VRS (Other than above)/ Resignation/ Cessation of Service in the normal course, the amount will be adjusted from the terminal dues or converted to General Public scheme from the date of such event, subject to his/her eligibility, as the case may be.

More Definitions of Cessation of Service

Cessation of Service means the removal of a Director from the Board pursuant to applicable provisions of the Company’s by-laws or the voluntary resignation by a Director of his or her membership on the Board. With respect to non-Grandfathered Amounts, the term “Cessation of Service” shall be interpreted in a manner consistent with the separation from service rules under section 409A of the Code.

Cessation of Service means the cessation or partial cessation (whether as a result of termination of the Agreement, or part, or otherwise) of the provision by the Council of all or part of the Services;

Cessation of Service means cessation of service as a non-employee Director of the Company, by reason other than death.

Cessation of Service means the cessation or partial cessation (whether as a result of termination of the Agreement, or part, or otherwise) of the provision of all or part of the PSO Services by the Service Provider;

Cessation of Service means the cessation of engagement of the Grantee as a Chairman of the Board for any reason.

Cessation of Service has the meaning set forth in Section 2.04(a)(iv).

Cessation of Service means the cessation of all services of Grantee to the Company which shall be deemed to occur [at the time of Grantee's termination of employment by the Company for any reason.] [at such time that the Grantee no longer serves as a director of the Company for any reason.] [at such time that the Grantee no longer serves as an executive officer of the Company for any reason.] [at such time that the Grantee no longer serves as a Consultant for any reason. For the avoidance of doubt, the cessation of Grantee's service as a Consultant shall be deemed to occur upon the earlier of (i) the cessation of the Grantee's employment with ACM, or (ii) the later of the termination or regular expiration of (A) the Management Agreement or (B) the Origination Period (as defined in the Management Agreement).] [Insert the following Section 7 in the Restricted Stock Agreement with each director and executive officer: