Involuntary Retirement definition

Involuntary Retirement means a retirement not for cause and before retirement age.

Involuntary Retirement means a Severance (as defined in the Plan) that is classified by the Company in its human resources database as an involuntary separation and that qualifies as a Retirement (as defined in the Plan).

Involuntary Retirement means the occurrence of any of the following: (i) a Person is adjudged a bankrupt or insolvent, or has entered against it an order for relief in any bankruptcy or insolvency proceeding; (ii) ninety (90) days after the commencement of any proceeding against a Person seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any statute, law or regulation, if the proceeding has not been dismissed or stayed at such time; (iii) ninety (90) days after the appointment without the Person's consent or acquiescence of a trustee, receiver or liquidator of a Person or of all or any substantial part of its properties, if the appointment is not vacated or stayed at such time; or (iv) the involuntary dissolution of a Person or any other event which is neither initiated by nor acquiesced in by a Person and is not a Voluntary Retirement.

Examples of Involuntary Retirement in a sentence

• If an Executive Officer is required to take Involuntary Retirement under this Plan, he or she shall be given a written notice thereof and shall be advised of the Early Retirement Benefits to be paid hereunder.

• For purposes of this Agreement, a "BUSINESS DAY" is a day other than a Saturday, a Sunday or a day on which banks are required to be closed in the State of North Carolina.

• If the Chairman’s employment as Chairman of the Board of Directors has concluded during the Employment Period due to Involuntary Retirement or if the Chairman’s employment as Chairman of the Board of Directors has concluded at the end of the Employment Period, for any reason whatsoever – the Chairman will be entitled to an adaptation period of 6 months during which the Chairman will receive his monthly Salary (including the accompanying conditions) (the “Adaptation Period”).

• An Executive Officer who is eligible to and elects to retire on or after his or her 55th birthday but before his or her Normal Retirement Date, or who is required to take Involuntary Retirement by the Company during that period, shall receive the Early Retirement Benefits as set forth in Section 4.2 herein.

• Payment of Early Retirement Benefits shall commence as soon as practicable following the Participant’s Early Retirement or Involuntary Retirement.

More Definitions of Involuntary Retirement

Involuntary Retirement means the termination of a Participant’s employment with the Company and the Affiliated Employers by the Company or any Affiliated Employer (other than due to such Participant’s Gross Misconduct, death or Disability) on or following the later of January 1, 2011 and the date on which such Participant is at least age 65 and the sum of such Participant’s age and full completed years of service with the Company and the Affiliated Employers equals at least 75.

Involuntary Retirement means a Termination of Employment that is directed by the Company or its Affiliates and is involuntary on the part of the Participating Executive prior to the Participating Executive’s Normal Retirement Date for any reason other than for Cause or by reason of Disability Retirement or death.

Involuntary Retirement means an Eligible Employee’s Separation from Service (1) due to termination by Company without Cause and (2) that occurs at or after the time an Eligible Employee has reached age 55 and 10 years of service with the Company.

Involuntary Retirement means the Severance of a Participant that is classified by the Company in its human resources database as an involuntary separation and that qualifies as a Retirement.

Involuntary Retirement means a Termination of Service of a Non‑Employee Director's membership on the Board

Involuntary Retirement means a Termination of Service of a Non‑Employee Director's membership on the Board due to:(e)Retirement on the mandatory retirement date for directors under Corporation's bylaws; or(f)A determination by the Committee that the Non-Employee Director cannot continue as a member of the Board without violating applicable law.

Involuntary Retirement means compelling a district attorney or solicitor- general who is vested in a state or county retirement plan to vacate office.