Discretionary Termination definition

Discretionary Termination means a voluntary termination of employment by the Executive at any time during the 30-day period immediately following the first anniversary of the Change in Control.

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Discretionary Termination means the determination by the Executive at any time during the thirty (30)-day period after the first anniversary of the occurrence of a Change in Control of the Company, as evidenced by the Executive’s delivery to the Company of a Notice of Termination during such period, to terminate this Agreement and his employment hereunder for any reason whatsoever in his sole discretion, with or without good faith and regardless of whether the Company is then attempting to terminate the Executive for any reason, including for Cause.

Discretionary Termination means the determination by the Executive, or his estate or personal representative in the event of the Executive's death or disability, at any time during the twelve (12) month period commencing on the occurrence of a Change in Control of the Company, as evidenced by the delivery to the Company, by the Executive or by his estate or personal representative in the case of the Executive's death or disability, of a Notice of Termination during such period, to terminate this Agreement and his employment hereunder for any reason whatsoever in his sole discretion, with or without good faith, even if the Company has previously terminated the Executive for death, disability, Cause or otherwise during such twelve (12) month period following a Change in Control of the Company.

Examples of Discretionary Termination in a sentence

After the expiration of such fifteen (15) days (or immediately upon receipt of a Notice of Termination relating to a Discretionary Termination), the contents of the Notice of Termination shall become final and not subject to dispute.
Except as otherwise provided herein, the Termination Payment shall be paid to the Executive in cash no later than ten (10) business days after the Termination Date; provided, however, the Termination Payment shall be paid to the Executive immediately upon receipt by the Company of a Notice of Termination relating to a Discretionary Termination (regardless of any differing effective date of the Executive's employment termination).
The Trustee shall have no power to terminate the Agreement or the Trust because the value of the Trust is below the Discretionary Termination Amount and shall have no liability for the Sponsor's exercise or non-exercise of its discretionary power to terminate the Trust.
Notwithstanding the foregoing, if the Executive terminates employment with the Company by means of a Discretionary Termination, he shall be entitled to 50% of the Severance Benefits set forth in (A) - (F) below.
A Termination Fee equal to the product of three (3) times the Servicing Fee for the month in which the Discretionary Termination Notice is received shall be payable by the Borrower with respect to any such Discretionary Termination.
If there is a Covered Termination for Cause or due to the Executive's voluntarily terminating his employment other than for Good Reason or a Discretionary Termination (any such terminations to be subject to the procedures set forth in Section 13 hereof), then the Executive shall be entitled to receive only Accrued Benefits pursuant to Section 9(a) hereof.
If there is a Covered Termination for Cause or due to the Executive’s voluntarily terminating his employment other than for Good Reason or a Discretionary Termination (any such terminations to be subject to the procedures set forth in Section 13 hereof), then the Executive shall be entitled to receive only Accrued Benefits pursuant to Section 9(a) hereof.
The Trustee shall have no power to terminate the Agreement, the Indenture or the Trust because the value of the Trust Fund is below the Discretionary Termination Amount.
A purported termination of the Employment under Paragraph 5(c) ("Termination by Company for Cause") or Paragraph 5(b) ("Disability") that is ultimately found to have been improper under such paragraph shall be deemed to have been a termination under Paragraph 5(f) ("Discretionary Termination by Company").
Consultant further acknowledges that Consultant’s continued engagement with the Company and the payment of termination payments and benefits pursuant to Section 6 herein constitutes fair and adequate consideration for Consultant’s agreement not to engage in such conduct during the Restrictive Period in the event of Consultant’s voluntary termination (other than for Good Reason) or a Discretionary Termination Payment Event (if the Board chooses to make the payments described in Section 6.2 above).

More Definitions of Discretionary Termination

Discretionary Termination has the meaning specified in Section 2.3(c).

Discretionary Termination. Should the Lessee break any of the terms and conditions of this lease or should the Lessee operate its facility in a manner that reflects unfavorably upon Lessor or its operation, then the Lessor shall have the right to terminate this lease upon 30 days written notice and Lessee agrees to promptly and peacefully surrender possession of the premises to Lessor in a neat and reasonable condition.

Discretionary Termination means that (A) C▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇’ employment is terminated without cause (as such term is defined in his Employment Agreement with the Company) and (B) for the twelve (12) months prior to the Termination Date, the Company has achieved 80% of all Adjusted EBITDA and performance thresholds set forth in the Company’s business plan and budget (as approved by the Board).

Discretionary Termination means the termination of the Term by either party to this Agreement, effective as of the end of the Initial Term or the then current Renewal Term, by providing the other party to this Agreement with written notice of termination at least sixty (60) days prior to the Initial Term or the then current Renewal Term, as the case may be.