Involuntarily Termination definition
Involuntarily Termination means termination of the employment of Employee without the Employee's express written consent, and shall include a material diminution of or interference with the Employee's duties, responsibilities and benefits as _________ of the Bank, including (without limitation) any of the following actions unless consented to in writing by the Employee:
Involuntarily Termination means the termination of the employment of Employee (i) by either the Company or the Bank or both without his express written consent; or (ii) by the Employee by reason of a material diminution of or interference with his duties, responsibilities or benefits, including (without limitation) any of the following actions unless consented to in writing by the Employee: (1) a requirement that the Employee be based at any place other than Oak Forest, Illinois or within 30 miles thereof, except for reasonable travel on Company or Bank business; (2) a material demotion of the Employee; (3) a material reduction in the number or seniority of personnel reporting to the Employee or a material reduction in the frequency with which, or in the nature of the matters with respect to which such personnel are to report to the Employee, other than as part of a Bank- or Company-wide reduction in staff; (4) a reduction in the Employee's salary or a material adverse change in the Employee's perquisites, benefits, contingent benefits or vacation, other than as part of an overall program applied uniformly and with equitable effect to all members of the senior management of the Bank or the Company; (5) a material permanent increase in the required hours of work or the workload of the Employee; or (6) the failure of the Board of Directors (or a board of directors of a successor of the Company) to elect him as President of the Company (or a successor of the Company) or any action by the Board of Directors (or a board of directors of a successor of the Company) removing him from any of such office, or the failure of the board of directors of the Bank (or any successor of the Bank) to elect him as President of the Bank (or any successor of the Bank) or any action by such board removing him from any of such office. The term "Involuntary Termination" does not include Termination for Cause or termination of employment due to permanent disability pursuant to Section 7(g) of this Agreement, retirement, death or suspension or temporary or permanent prohibition from participation in the conduct of the affairs of a depository institution under Section 8 of the Federal Deposit Insurance Act.
Involuntarily Termination means termination of the employment of Employee without his express written consent, and shall include a material diminution of or interference with the Employee's duties, responsibilities and benefits as Chief Financial Officer of the Bank, including (without limitation) any of the following actions unless consented to in writing by the Employee:
(1) a change in the principal workplace of the Employee to a location outside of a 35 mile radius from the Bank's headquarters office as of the date hereof, (2) a material demotion of the Employee; (3) a material reduction in the number or seniority of other Bank personnel reporting to the Employee or a material reduction in the frequency with which, or in the nature of the matters with respect to which, such personnel are to report to the Employee, other than as part of a Bank- or Holding Company-wide reduction in staff, (4) a material adverse change in the Employee's salary, perquisites, benefits, contingent benefits or vacation, other than as part of an overall program applied uniformly and with equitable effect to all members of the senior management of the Bank or the Holding Company; and (5) a material permanent increase in the required hours of work or the workload of the Employee. The term "Involuntary Termination" does not include Termination for Cause or termination of employment due to retirement, death, disability or suspension or temporary or permanent prohibition from participation in the conduct of the Bank's affairs under Section 8 of the Federal Deposit Insurance Act ("FDIA").
Examples of Involuntarily Termination in a sentence
If your Termination Date occurs because of Involuntarily Termination for Economic Reasons as determined by the Chief Executive Officer (or the Committee in the case of an Employee subject to Section 16 of the Exchange Act), the terms of Plan Section 11(b) shall apply.
In the event that Employee has maintained continuous employment with the Company from the Effective Date through the Closing Date but Employee's employment with the Company or its successor is terminated as a result of an Involuntarily Termination at any time between the Closing Date and the Payment Date, then the Bonus shall become payable within five (5) business days after the termination date.
As used herein, a “Change in Control Termination” means that the termination of the Grantee’s employment on or within a period of one hundred and eighty (180) days of a Change in Control if such termination is either (i) an Involuntarily Termination Without Cause or (ii) the Grantee terminates its employment relationship with the Company (or a subsidiary or Affiliate of the Company) for Good Reason.
Executive shall be entitled to receive -------------------- the severance benefits specified in Paragraph 12 in the event of an Involuntarily Termination (as such term is defined in Paragraph 4.D) during the Employment Period.
In addition to any other rights set forth in the event of the Executive's termination, Executive shall be reimbursed for actual, reasonable cost to relocate self and family to Ireland in the event that the Company requests that the Executive relocate to Ireland (and he does so) or an Involuntarily Termination Event with respect to the Executive's employment occurs, and he returns to Ireland within three months thereafter.
More Definitions of Involuntarily Termination
Involuntarily Termination means termination of the employment of Employee by either the Holding Company or the Association without the Employee's express written consent, and shall include a material diminution of or interference with the Employee's duties, responsibilities and benefits as Vice President and Secretary of the Holding Company and Vice President, Secretary and Chief Operating Officer of the Association, including (without limitation) any of the following actions unless consented to in writing by the Employee:
(1) a change in the principal workplace of the Employee to a location outside of Westchester County, New York; (2) a material demotion of the Employee; (3) a material reduction in the number or seniority of other Holding Company and Association personnel reporting to the Employee or a material reduction in the frequency with which, or in the nature of the matters with respect to which, such personnel are to report to the Employee, other than as part of a Association- or Holding Company-wide reduction in staff; (4) a material adverse change in the Employee's salary, perquisites, benefits, contingent benefits or vacation, other than as part of an overall program applied uniformly and with equitable effect to all members of the senior management of the Association or the Holding Company; and (5) a material permanent increase in the required hours of work or the workload of the Employee. The term "Involuntary Termination" does not include Termination for Cause or termination of employment due to retirement, death, disability or suspension or temporary or permanent prohibition from participation in the conduct of the Association's affairs under Section 8 of the Federal Deposit Insurance Act ("FDIA") and shall not include a material diminution of or interference with the Employee's duties, responsibilities and benefits unless the Employee submits to the Holding Company within 180 days after the occurrence of such event written notice of his determination that such material diminution constitutes Involuntary Termination.
Involuntarily Termination means termination of the employment of Executive without his express written consent, and shall include a material diminution of or interference with the Executive's duties, responsibilities and benefits as President and Chief Executive Officer of the Association, including (without limitation) any of the following actions unless consented to in writing by the Executive:
(1) a change in the principal workplace of the Executive to a location outside of a 30 mile radius from the Association's headquarters office as of the date hereof; (2) a material demotion of the Executive; (3) a material reduction in the number or seniority of other Association personnel reporting to the Executive or a material reduction in the frequency with which, or in the nature of the matters with respect to which, such personnel are to report to the Executive, other than as part of an Association- or Company-wide reduction in staff; (4) a material adverse change in the Executive's salary, perquisites, benefits, contingent benefits or vacation, other than as part of an overall program applied uniformly and with equitable effect to all members of the senior management of the Association or the Company; and (5) a material permanent increase in the required hours of work or the workload of the Executive. The term "Involuntary Termination" does not include Termination for Cause or termination of employment due to retirement, death, disability or suspension or temporary or permanent prohibition from participation in the conduct of the Association's affairs under Section 8 of the Federal Deposit Insurance Act ("FDIA").
Involuntarily Termination means termination of the employment of Employee without the Employee's express written consent, and shall include a material diminution of or interference with the Employee's duties, responsibilities and benefits as Senior Vice President, Treasurer and Controller, including (without limitation) any of the following actions unless consented to in writing by the Employee:
(1) a change in the principal workplace of the Employee to a location outside of a 30 mile radius from the Bank's headquarters office as of the date hereof; (2) a material demotion of the Employee; (3) a material reduction in the number or seniority of other Bank personnel reporting to the Employee or a material reduction in the frequency with which, or in the nature of the matters with respect to which, such personnel are to report to the Employee, other than as part of a Bank- or Company-wide reduction in staff; (4) a material adverse change in the Employee's salary, perquisites, benefits, contingent benefits or vacation, other than as part of an overall program applied uniformly and with equitable effect to all members of the senior management of the Bank or the Company; and (5) a material permanent increase in the required hours of work or the workload of the Employee. The term "Involuntary Termination" does not include Termination for Cause or termination of employment due to retirement, death, disability or suspension or temporary or permanent prohibition from participation in the conduct of the Bank's affairs under Section 8 of the Federal Deposit Insurance Act ("FDIA").
Involuntarily Termination means termination of the employment of Employee without his express written consent, and shall include a material diminution of or interference with the Employee's duties, responsibilities and benefits as Senior Vice President of the Bank, including (without limitation) any of the following actions unless consented to in writing by the Employee:
(1) a change in the principal workplace of the Employee to a location outside of a 20 mile radius from the Bank's headquarters office as of the date hereof; (2) a material reduction in the number or seniority of other Bank personnel reporting to the Employee or a material reduction in the frequency with which, or in the nature of the matters with respect to which such personnel are to report to the Employee, other than as part of a Bank- or Holding Company-wide reduction in staff; (3) a material adverse change in the Employee's salary, perquisites, benefits, contingent benefits or vacation, other than as part of an overall program applied uniformly and with equitable effect to all members of the senior management of the Bank or the Holding Company; and (4) a material permanent increase in the required hours of work or the workload of the Employee. The term "Involuntary Termination" does not include Termination for Cause or termination of employment due to retirement, death, disability or suspension or temporary or permanent prohibition from participation in the conduct of the Bank's affairs under Section 8 of the Federal Deposit Insurance Act ("FDIA").
Involuntarily Termination means the termination of the employment of Employee (i) by either the Company or the Bank or both without his express written consent; or (ii) by the Employee by reason of a material diminution of or interference with his duties, responsibilities or benefits, including (without limitation) any of the following actions unless consented to in writing by the Employee: (1) a requirement that the Employee be based at any place other than Chicago, Illinois, or within a radius of 35 miles from the location of the Company's office as of the date of this Agreement, except for reasonable travel on Company or Bank business; (2) a material demotion of the Employee; (3) a material reduction in the number or seniority of personnel reporting to the Employee or a material reduction in the frequency with which, or in the nature of the matters with respect to which such personnel are to report to the Employee, other than as part of a Bank- or Company-wide reduction in staff; (4) a reduction in the Employee's salary or a material adverse change in the Employee's perquisites, benefits, contingent benefits or vacation, other than as part of an overall program applied uniformly and with equitable effect to all members of the senior management of the Bank or the Company; (5) a material permanent increase in the required hours of work or the workload of the Employee; or (6) the failure of the Board of Directors (or a board of directors of a successor of the Company) to elect him as Chief Executive Officer of the Company (or a successor of the Company) or any action by the Board of Directors (or a board of directors of a successor of the Company) removing him from such office, or the failure of the board of directors of the Bank (or any successor of the Bank) to elect him as Chief Executive Officer of the Bank (or any successor of the Bank) or any action by such board (or board of a successor of the Bank) removing him from such office. The term "Involuntary Termination" does not include Termination for Cause, termination of employment due to death or permanent disability pursuant to Section 7(i) of this Agreement, retirement or suspension or temporary or permanent prohibition from participation in the conduct of the Bank's affairs under Section 8 of the Federal Deposit Insurance Act.
Involuntarily Termination means a termination by the Company of the Executive's employment other than for "Cause" or on account of the death or "Disability" of the Executive. Payment(s)
Involuntarily Termination means termination of the employment of Employee without the Employee's express written consent, and shall include a material diminution of or interference with the Employee's duties, responsibilities and benefits as an Executive Vice President of the Bank with respect to commercial lending, including (without limitation) any of the following actions unless consented to in writing by the Employee:
(1) a change in the principal workplace of the Employee which would reasonably require him to commute more than 30 miles each way from his principal residence as of the date of this Agreement; (2) the assignment to the Employee of duties substantially inconsistent with and in diminution of the position, duties, responsibilities and status contemplated by Section 3 of this Agreement; and (3) a material adverse change in the Employee's salary, perquisites, benefits, contingent benefits or vacation, other than as part of an overall program applied uniformly and with equitable effect to all members of the senior management of the Bank or the Holding Company. The term "Involuntary Termination" does not include Termination for Cause or termination of employment due to retirement, death, disability or suspension or temporary or permanent prohibition from participation in the conduct of the Bank's affairs under Section 8 of the Federal Deposit Insurance Act ("FDIA").