Involuntary Termination Event definition

Involuntary Termination Event means (i) the involuntary termination of the Awardee’s employment with the Company or any of its subsidiaries (other than for Cause, death or Disability) or (ii) the Awardee’s resignation of employment with the Company or any of its subsidiaries for Good Reason.
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Involuntary Termination Event means the occurrence of any of the following without Licensor’s prior written consent: (i) a material diminution in Licensor’s duties, or the assignment to Licensor of duties materially inconsistent with his authority, responsibilities and reporting requirements, including, without limitation, Licensor no longer having sole capital allocation authority; (ii) the failure of the Board or a committee thereof to nominate Licensor for election to the Board or to appoint him as Chairman of the Board and Chief Executive Officer of Licensee, (iii) Licensee or the Board requires Licensor to relocate his principal place of employment to a location other than San Antonio, Texas unless such relocation is temporary or the result of exigent circumstances; (iv) the failure of Licensee to obtain the assumption in writing of its obligations to perform the Amended and Restated Incentive Bonus Agreement, dated as of September 28, 2010, between Licensor and Licensee (as the same may be amended from time to time, the “Incentive Agreement”) by any successor to all or substantially all of the business or assets of Licensee not later than the effective date of such transaction; or (v) a material breach of the Incentive Agreement by Licensee. In the event that Licensor elects to terminate his employment due to an Involuntary Termination Event, he shall notify Licensee in writing of the grounds for such termination within thirty (30) calendar days of the commencement of such condition and Licensee shall have thirty (30) calendar days from receipt of such notice to cure such condition.
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Involuntary Termination Event has the meaning ascribed to such term in Section 4.3(g).
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Examples of Involuntary Termination Event in a sentence

  • In the event that after a Determination, an Involuntary Termination Event and a Change in Control occur, then the number of Performance Shares determined to have been earned shall immediately vest and shall be immediately delivered to the Awardee.

  • If the Executive's employment with the Company is involuntarily terminated by the Company other than for Cause or by the Executive for Good Reason (an "Involuntary Termination Event"), Sections 7(a) and 7(b) below shall apply.

  • If the ------------------------------------------------------ Executive's employment with the Company is Involuntarily Terminated by the Company other than for Cause (an "Involuntary Termination Event"), Sections 7(a) and 7(b) below shall apply.

  • The Company shall, in addition to paying the ---------- Executive all amounts accrued by the Executive on or prior to the date of the Involuntary Termination Event, make a lump sum payment to him equal to his then base salary plus the then maximum performance bonus for a period of one (1) year, or for the period from such termination to October 31, 2000, which ever is longer.

  • Notwithstanding any provision herein to the contrary, in the event that an Involuntary Termination Event occurs within one (1) year following the occurrence of a Change in Control, the outstanding unvested service-based Performance Shares shall immediately become fully vested and be immediately delivered to the Awardee.

  • Notwithstanding that above Sections 6(a) and 6(b) -------------- will otherwise not apply to the Executive as a result of the Involuntary Termination Event, the Executive may elect to be bound by above Sections 6(a) and 6(b) in exchange for continued vesting of the stock options granted to him by the Company for the period during which such Sections 6(a) and (b) apply; provided, however, that the Executive has to notify the Company of said election within thirty (30) days of such termination.

  • The Company shall, in addition to paying the Executive all amounts accrued by the Executive on or prior to the date of the Involuntary Termination Event, make a lump sum payment to him equal to his then base salary plus the then maximum performance bonus for a period of the greater of (i) one (1) year or (ii) from the date of the Involuntary Termination Event to the date that is two (2) years after the Effective Date.

  • The Company shall, in addition to paying the Executive all amounts accrued by the Executive on or prior to the date of the Involuntary Termination Event, make a lump sum payment to him equal to his then base salary plus the then maximum performance bonus for a period of one (1) year.

  • Notwithstanding that above Sections 6(a) and 6(b) ------------- will otherwise not apply to the Executive as a result of the Involuntary Termination Event, the Executive may elect to be bound by above Sections 6(a) and 6(b) in exchange for continued vesting of the stock options granted to him by the Company for the period during which such Sections 6(a) and (b) apply; provided, however, that the Executive has to notify the Company of said election within thirty (30) days of such termination.

  • In addition to the base salary of the Executive, the Executive shall be entitled to additional compensation ("Retention Compensation") equal to one hundred percent (100%) ("100% Payment") of the Executive's annual base salary as of May 1, 1997 upon the occurrence of the earlier of (A) an Involuntary Termination Event or (B) the occurrence of a Sales Event or a Confirmation Event.


More Definitions of Involuntary Termination Event

Involuntary Termination Event means (a) with respect to any Management Unitholder, the termination of such Management Unitholder’s employment with the Company, its subsidiaries, its parent companies and any successor thereto (i) by any such entity for any reason other than for Cause, or (ii) by such Management Unitholder within 60 days of an event constituting Good Reason; and (b) with respect to any Other Unitholder, the termination of such Unitholder’s board, consulting or other relationship with the Company, its subsidiaries, its parent companies and any successor thereto by any such entity (or the applicable equityholders of such entity) for any reason other than for Cause (for avoidance of doubt, a resignation or other termination by such Other Unitholder shall not be considered an Involuntary Termination Event, regardless of the reason).
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Related to Involuntary Termination Event

  • Involuntary Termination means a termination of your employment with the Company pursuant to either (i) a termination initiated by the Company without Cause, or (ii) your resignation for Good Reason, and provided in either case such termination constitutes a Separation from Service. An Involuntary Termination does not include any other termination of your employment, including a termination due to your death or disability.

  • Company Termination Event means any of the following:

  • Involuntary Termination Without Cause means Executive’s dismissal or discharge other than for Cause. The termination of Executive’s employment as a result of Executive’s death or disability will not be deemed to be an Involuntary Termination Without Cause.

  • Voluntary Termination means termination by the Employee of the Employee's employment with the Company, excluding termination by reason of Employee's death or disability as described in Sections 2.5 and 2.6.

  • Exercise Termination Event (i) the Effective Time (as defined in the Merger Agreement) of the Merger; (ii) termination of the Merger Agreement in accordance with the provisions thereof if such termination occurs prior to the occurrence of an Initial Triggering Event, except a termination by Grantee pursuant to Section 8.1(d) of the Merger Agreement (unless the breach by Issuer giving rise to such right of termination is non-volitional); or (iii) the passage of 12 months after termination of the Merger Agreement if such termination follows the occurrence of an Initial Triggering Event or is a termination by Grantee pursuant to Section 8.1(d) of the Merger Agreement (unless the breach by Issuer giving rise to such right of termination is non-volitional) (provided that if an Initial Triggering Event continues or occurs beyond such termination and prior to the passage of such 12-month period, the Exercise Termination Event shall be 12 months from the expiration of the Last Triggering Event but in no event more than 18 months after such termination). The "Last Triggering Event" shall mean the last Initial Triggering Event to expire. The term "Holder" shall mean the holder or holders of the Option.

  • Voluntary Termination for Good Reason means that the Executive voluntarily terminates his employment after any of the following are undertaken without Executive’s express written consent:

  • Involuntary Termination of Employment means the Termination of Service by the Company or Subsidiary (other than a termination for Cause) or termination of employment by a Participant Employee for Good Reason.

  • Potential Termination Event means an event which but for the lapse of time or the giving of notice, or both, would constitute a Termination Event.

  • Good Reason Event means (1) fraud, criminal conduct or willful misconduct by or on the part of the Company, (2) a representation or warranty made by the Company herein proving to be untrue in any material respect, or (3) a default in the due performance or observance by the Company of any covenant or agreement contained in this Agreement and such default continuing unremedied for a period of 30 days after written notice thereof to the Company by the Dealer Manager.

  • Control Termination Event shall have the meaning given to such term or any one or more analogous terms in the Lead Securitization Servicing Agreement.

  • Constructive Termination means:

  • Additional Termination Event has the meaning specified in Section 5(b).

  • Good Reason Termination means a termination of employment or service initiated by the Participant upon or after a Change of Control upon one or more of the following events:

  • Early Termination Event has the meaning specified in Section 9.2.

  • ERISA Termination Event means (i) a “Reportable Event” described in Section 4043 of ERISA and the regulations issued thereunder (other than a “Reportable Event” not subject to the provision for 30-day notice to the PBGC under such regulations), or (ii) the withdrawal of a Borrower or any of its ERISA Affiliates from a “single employer” Plan during a plan year in which it was a “substantial employer”, both of such terms as defined in Section 4001(a) of ERISA, or (iii) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, or (iv) the institution of proceedings to terminate a Plan by the PBGC or (v) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or (vi) the partial or complete withdrawal of a Borrower or any ERISA Affiliate of such Borrower from a “multiemployer plan” as defined in Section 4001(a) of ERISA.

  • Termination Upon a Change in Control means a termination of Officer’s employment with Corporation within 12 months following a “Change in Control” that constitutes a Termination Other Than For Cause described in Section 2.1(b).

  • Constructive Termination Without Cause means the termination of the Executive’s employment at his initiative after, without the Executive’s prior written consent, one or more of the following events:

  • Swap Termination Event means the occurrence of a “Termination Event” under the Swap Agreement, as defined in the Swap Agreement.]

  • Terminating Event means any of the following events:

  • Effective Termination Date has the meaning set forth in Section 10(b) hereof.

  • Unmatured Termination Event means an event that, with the giving of notice or lapse of time, or both, would constitute a Termination Event.

  • Mandatory Termination Date means the "Termination Date" set forth under "Investment Summary--Essential Information" in the Prospectus for the Trust.

  • Commitment Termination Event means the earlier of (a) automatically and without notice or further action, the occurrence of any Event of Default described in Section 7.01(i) (Bankruptcy, Insolvency, etc.) with respect to the Borrower and (b) the occurrence and continuation of any other Event of Default under this Agreement pursuant to which either a Commitment Termination Event has been expressly declared or a declaration of the Loan to be due and payable has been given, in each case pursuant to Section 7.03 (Action if other Event of Default).

  • Without Cause Termination or “Terminated Without Cause” means termination of the Executive’s employment by the Company other than due to death, disability, or Termination for Cause.

  • Consultation Termination Event shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.

  • Event Termination Date See Section 2(e) hereof.