Involuntary Termination of Service definition

Involuntary Termination of Service means, following a Change of Control, the Director is removed from the Board of Directors without his consent.
Sample 1Sample 2Sample 3
Involuntary Termination of Service means the Employee incurred a Termination of Service on account of a Termination of Service by the Employing Entity without Cause (other than death or Disability).
Sample 1Sample 2
Involuntary Termination of Service means the involuntary termination by the Corporation (or its successor) of the Service of the Participant for reasons other than Cause; provided, however, that Involuntary Termination of Service shall not include any voluntary termination or any termination of Participant’s employment which is a result of Participant’s death or Disability.
Sample 1Sample 2

Examples of Involuntary Termination of Service in a sentence

  • In the event of the Participant’s Involuntary Termination of Service at or following a Change in Control, any unvested portion of the Option will vest and any unexercised portion of the Option may be exercised by the Participant or the Participant’s legal representative for a period of one (1) year following the Participant’s Involuntary Termination of Service.

  • In the event of the Participant’s Involuntary Termination of Service at or following a Change in Control, any unvested shares of Restricted Stock subject to this Agreement will immediately vest.

  • In the event of the Participant’s Termination of Service for any reason other than due to death, Disability or for Cause or an Involuntary Termination of Service at or following a Change in Control, any unvested shares of Restricted Stock subject to this Agreement will expire and be forfeited as of the date of the Termination of Service.

  • As set forth in Section 10 of this Agreement, vesting will automatically accelerate pursuant to Sections 2.7 and 4.1 of the Plan in the event of death, Disability or Involuntary Termination of Service at or following a Change in Control.

  • Unless sooner vested in accordance with the terms of the Plan and this Agreement, the Option granted hereunder will vest (i.e., become exercisable) in accordance with the following schedule: Vesting Date Number of Shares Exercisable As set forth in Section 10 of this Agreement, vesting will automatically accelerate pursuant to Sections 2.5, 2.7 and 4.1 of the Plan in the event of death or Disability or an Involuntary Termination of Service at or following a Change in Control.

  • Involuntary Termination of Service not for Cause Unvested Awards forfeited as of Termination of Service.

  • Vesting will automatically accelerate pursuant to Section 2.9 and 4.1 of the Plan (in the event of death or Disability or Involuntary Termination of Employment or Involuntary Termination of Service as a Director following a Change in Control).

  • In addition, in the event that, within twelve (12) months following a Change in Control (as defined in the Option Plan), there is an Involuntary Termination of Service (as defined in the Option Plan), then any Option Shares that remain unvested as of such termination date will vest as of such termination date, subject to the provisions of, and as more fully described in, the Stock Option Grant Notice.

  • Vesting will automatically accelerate pursuant to Sections 2.9 and 4.1 of the Plan (in the event of death, Disability or Involuntary Termination of Employment following a Change in Control or Involuntary Termination of Service as a Director following a Change in Control).

  • Vesting will automatically accelerate pursuant to Section 2.9 of the Plan (in the event of death or Disability or Involuntary Termination of Service as a Director following a Change in Control).


More Definitions of Involuntary Termination of Service

Involuntary Termination of Service means a Termination of Service by reason of action by the Company without Cause, action by the Grantee for Good Reason or, if Grantee is a member of the Board of Directors, failure of the Grantee to be nominated for election or elected.“Performance Shares” shall mean that number of restricted Shares listed above as the “Maximum Number of Performance Shares”. “Qualifying Criteria” means, collectively, the Applicable Age Requirement and the Applicable Service Requirement.“Required Service Date” shall mean the first anniversary of the Grant Date or, if later, the first anniversary of the date that the Grantee first meets both of the Qualifying Criteria.“Shares” shall mean shares of the Company’s common stock, par value $0.01 per share. Grant of Performance Shares The Company hereby issues and grants to the Grantee the Performance Shares, subject to and in accordance with the terms, conditions and restrictions set forth in the Agreement. Vesting Following the last day of the Performance Period, the Committee shall determine the exact number of Shares that the Grantee is entitled to under this Agreement (the “Actual Number of Performance Shares”) based on [insert applicable metrics]. Please refer to the performance matrix on Schedule A hereto which sets forth how the Actual Number of Performance Shares is calculated. Performance Shares in an amount equal to the Actual Number of Performance Shares shall become vested as of the date of the Committee’s determination of performance in accordance with the preceding paragraph (the “Vesting Date”). Any Performance Shares which do not become vested as of the Vesting Date shall be forfeited to the Company without consideration or any further action by the Grantee or the Company.
Sample 1
Involuntary Termination of Service means the Termination of Service of the Director by the Company (an involuntary termination of service shall not be deemed to have occurred as the result of the failure to re-nominate the Director for election by the stockholders of the Company and the Bank) or by an acquirer of the Company through or as the result of a merger or otherwise (other than termination for Cause)
Sample 1
Involuntary Termination of Service means a Termination of Service by reason of action by the Company without Cause, or, if Grantee is a member of the Board of Directors, failure of the Grantee to be nominated for election or elected. “Performance Shares” shall mean that number of restricted Shares listed above as the “Maximum Number of Performance Shares”. “Qualifying Criteria” means, collectively, the Applicable Age Requirement and the Applicable Service Requirement. “Required Service Date” shall mean the first anniversary of the Grant Date or, if later, the first anniversary of the date that the Grantee first meets both of the Qualifying Criteria. “Shares” shall mean shares of the Company’s common stock, par value $0.01 per share. Exhibit 10.3
Sample 1
Involuntary Termination of Service means a Termination of Service other than a termination by resignation or a termination for Cause (as defined in the Option Agreement).
Sample 1
Involuntary Termination of Service means a Termination of Service by reason of action by the Company without Cause, action by the Grantee for Good Reason or, if Grantee is a member of the Board of Directors, failure of the Grantee to be nominated for election or elected. “Qualifying Criteria” means, collectively, the Applicable Age Requirement and the Applicable Service Requirement. Exhibit 10.27
Sample 1

Related to Involuntary Termination of Service

  • Termination of Service means:

  • Termination for Cause or "Cause" shall mean termination because of the Executive's personal dishonesty, willful misconduct, any breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, conviction of a felony with respect to the Bank or the Company or any material breach of this Agreement. For purposes of this Section, no act, or the failure to act, on the Executive's part shall be "willful" unless done, or omitted to be done, in bad faith and without reasonable belief that the action or omission was in the best interest of the Company or its affiliates. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or based upon the written advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by the Executive in good faith and in the best interests of the Company. Notwithstanding the foregoing, the Executive shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to him a Notice of Termination which shall include a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths of the members of the Board at a meeting of the Board called and held for that purpose (after reasonable notice to the Executive and an opportunity for him, together with counsel, to be heard before the Board), finding that in the good faith opinion of the Board, the Executive was guilty of conduct justifying Termination for Cause and specifying the particulars thereof in detail. The Executive shall not have the right to receive compensation or other benefits for any period after Termination for Cause.

  • Separation from Service or “Separates from Service” means a “separation from service” within the meaning of Section 409A of the Code.

  • Continuous Service means that the Participant’s service with the Company or an Affiliate, whether as an Employee, Director or Consultant, is not interrupted or terminated. A change in the capacity in which the Participant renders service to the Company or an Affiliate as an Employee, Consultant or Director or a change in the entity for which the Participant renders such service, provided that there is no interruption or termination of the Participant’s service with the Company or an Affiliate, will not terminate a Participant’s Continuous Service; provided, however, that if the Entity for which a Participant is rendering services ceases to qualify as an Affiliate, as determined by the Board, in its sole discretion, such Participant’s Continuous Service will be considered to have terminated on the date such Entity ceases to qualify as an Affiliate. To the extent permitted by law, the Board or the chief executive officer of the Company, in that party’s sole discretion, may determine whether Continuous Service will be considered interrupted in the case of (i) any leave of absence approved by the Board or chief executive officer, including sick leave, military leave or any other personal leave, or (ii) transfers between the Company, an Affiliate, or their successors. Notwithstanding the foregoing, a leave of absence will be treated as Continuous Service for purposes of vesting in an Award only to such extent as may be provided in the Company’s leave of absence policy, in the written terms of any leave of absence agreement or policy applicable to the Participant, or as otherwise required by law.