Involuntarily Terminated definition
Involuntarily Terminated means a Participant’s Continuous Service is terminated under the following circumstances occurring in connection with, or within 12 months following consummation of, a Change in Control: (i) termination without Cause by the Company or an Affiliate or successor thereto, as appropriate; or (ii) voluntary termination by the Participant within 60 days following (A) a material reduction in the Participant’s job responsibilities, provided that neither a mere change in title alone nor reassignment to a substantially similar position shall constitute a material reduction in job responsibilities; (B) an involuntary relocation of the Participant’s work site to a facility or location more than 50 miles from the Participant’s principal work site as of immediately prior to the Change in Control; or (C) a material reduction in Participant’s total compensation other than as part of a reduction by the same percentage amount in the compensation of all other similarly-situated Employees, Directors or Consultants.
Involuntarily Terminated means the Company or its successor or surviving entity (or parent thereof) terminates the Recipient’s service as an employee or a consultant without Cause other than for death or disability and is not promptly hired or engaged by the successor or surviving entity or offered employment or an engagement by the successor or surviving entity.
Involuntarily Terminated means a Participant is discharged or resigns in response to a change in day-to-day duties, or reduction in Compensation or benefits, to a downward change of title, or to a relocation requested by Employer.
Examples of Involuntarily Terminated in a sentence
If your Award includes a Performance Share Award and your employment is Involuntarily Terminated Without Cause prior to the end of the Performance Period, you may be entitled to a prorated Performance Share Award.
In addition, if Employee's employment is terminated without cause (other than if Employee is Involuntarily Terminated) or if Employee's employment is terminated due to death or permanent disability, Employee will be credited with an additional twelve (12) months of service toward vesting in the Option shares in addition to the service he has accrued toward vesting through the date of termination.
In the event Director is Involuntarily Terminated by the Bank prior to attaining the Early Retirement Age, then the Director shall receive the Accrued Liability Balance as of the date of the Separation From Service.
If Executive’s employment is Involuntarily Terminated within twelve (12) months following a Change of Control, then Executive shall receive the payments and benefits described in Section 5(c) in lieu of the payments and benefits described in this Section 5(b).
If Employee is Involuntarily Terminated, vesting of all options to purchase shares of the Company's Common Stock and all restricted stock grants (subject to any vesting deferrals provided in any restricted stock grant) will be accelerated in full and all such options shall remain in effect for a one (1) year period following the date of termination.
More Definitions of Involuntarily Terminated
Involuntarily Terminated means the termination of an employee's employment with Parent and its Subsidiaries by the employer of such employee following the Effective Time other than termination (i) owing to death or permanent disability or (ii) by Parent or any of its Subsidiaries for cause (as customarily defined by the Company prior to the Effective Time).
Involuntarily Terminated means that a Participant's Continuous Service terminated under the following circumstances: (i) termination without Cause by the Company or a Subsidiary, Parent, Affiliate, or successor thereto, as appropriate; or (ii) voluntary termination by the Participant within 60 days following (A) a material reduction in the Participant's job responsibilities (however, a mere change in title alone or reassignment following a Change of Control to a position that is substantially similar to the position held prior to the Change of Control shall not constitute a material reduction in job responsibilities), (B) relocation by the Company or a Subsidiary, Parent, Affiliate, or successor thereto, as appropriate, of the Participant's work site to a facility or location more than 50 miles from the Participant's principal work site for the Company at the time of the Change of Control, or (C) a reduction in Participant's then-current total compensation by at least 10%, other than as a result of an across-the-board reduction in the compensation of all other Employees, Directors, or Consultants in positions similar to the Participant's position by the same percentage amount.
Involuntarily Terminated means, in all circumstances other than any termination of Optionee for “Cause”, (i) without the Optionee’s express written consent, a significant diminution of the Optionee’s duties, position or responsibilities relative to the Optionee’s duties, position or responsibilities in effect immediately prior to such diminution, or the removal of the Optionee from such position, duties and responsibilities, unless the Optionee is provided with comparable or more significant duties, positions and responsibilities; (ii) without the Optionee’s express written consent, a substantial reduction, without good business reasons, of the quality, scope or amount of the facilities and perquisites (including office space and location) available to the Optionee immediately prior to such reduction; (iii) without the Optionee’s express written consent, any reduction by the Company of the Optionee’s total compensation package, including base salary and incentive compensation, as in effect immediately prior to such reduction; (iv) without the Optionee’s express written consent, a material reduction by the Company in the kind or level of Optionee benefits to which the Optionee is entitled immediately prior to such reduction, to the extent Optionee’s overall benefit package is reduced to a disproportionately greater extent than other senior executive officers of the Company; or (v) without the Optionee’s express written consent, the imposition of a requirement for the relocation of the Optionee to a facility or a location more than 40 miles from the Optionee’s current work location.
Involuntarily Terminated means any termination of a Participant’s employment with an Employer by reason of the discharge, firing or other involuntary termination of the Participant’s employment by action of such Employer, other than a Termination for Cause (as determined in good faith by the Administrator).
Involuntarily Terminated means (i) the Company’s termination of the Executive’s employment without Cause, or (ii) the Executive’s resignation for Good Reason.
Involuntarily Terminated means a Participant’s Continuous Service is terminated under the following circumstances occurring in connection with, or within 12 months following consummation of, a Change in Control: (i) termination without Cause by the Company or an Affiliate or successor thereto, as appropriate; or
Involuntarily Terminated means (i) without your express written consent, a significant reduction of your duties, position or responsibilities, or your removal from such position and responsibilities, including, without limitation, any reduction that results in your not serving as the President and Chief Operating Officer of the company that survives after the Change of Control (or, if such surviving company is a member of a group of affiliated corporations, the President and Chief Operating Officer of the most senior parent corporation in such group); (ii) without your express written consent, a substantial reduction, without good business reasons, of the facilities and perquisites (including office space and location) available to you immediately prior to such reduction; (iii) a reduction by the Company in your base compensation as in effect immediately prior to such reduction; (iv) a material reduction by the company in the kind or level of employee benefits to which you are entitled immediately prior to such reduction with the result that your overall benefits package is significantly reduced; (v) without your express written consent, your relocation to a facility or location more than 25 miles from your present location; (vi) any purported termination of you by the Company which is not effected for disability or for Cause, or any purported termination for which the grounds relied upon are not valid; or (vii) the failure of the Company to obtain the assumption of this Agreement by any successors in the event of a Change of Control.