Involuntary Retirement definition

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

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

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.

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).

Examples of Involuntary Retirement in a sentence

• Notwithstanding the foregoing, if such Severance constitutes an Involuntary Retirement and the date of such Involuntary Retirement is at least six (6) months after the Grant Date, then the Units that have not yet vested shall vest as of the date of the Severance.

• Involuntary Retirement An excess officer may be made involuntarily redundant, subject to the agreement of the union(s).

• L9 -Involuntary Retirement An excess officer may be made involuntarily redundant, subject to the agreement of the AEU.

• If you decline, or are considered to decline, an offer of voluntary retrenchment, the Integrity Commissioner will offer to refer you to career advisory services and commence the retention period under Involuntary Retirement provisions.

• Employee's Early Involuntary Retirement as an employee of Bank as of Employee's Early Involuntary Retirement Date.

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 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 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 termination of employment of an Executive Officer by action of the Company or the Board of Directors prior to an Executive Officer's Normal Retirement Date but after the Executive Officer has completed ten or more years of service and has reached the age of at least fifty- five years.

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

Involuntary Retirement means the Severance of a Participant that is classified by the Company in its