Lesser Position definition

Lesser Position means a position at a lower salary level or with a reduced number of months or hours worked or divided between two (2) or more locations.
Sample 1Sample 2Sample 3
Lesser Position means a new position or a change in the Employee's position, which, compared with Employee's position with Employer immediately prior to the Change in Control, (i) offers a lower level of compensation (including base salary, fringe benefits and target bonuses under any corporate-performance based bonus or incentive programs), or (ii) materially reduces Employee's duties or level of responsibility. In the event of such a termination of his employment, Employee shall be entitled to receive severance benefits as provided in Paragraph 13(d) below.
Sample 1Sample 2
Lesser Position for Grantee shall mean a new position or a change to Grantee’s position which, compared with Grantee’s position with the Company immediately prior to the Corporate Transaction, (i) offers a lower level of compensation (including base salary, fringe benefits and target bonuses under any corporate-performance based bonus or incentive programs), or (ii) materially reduces Grantee’s duties or level of responsibility, or (iii) assigns Grantee to an office more than miles from the Company’s office at which Grantee served prior to the Corporate Transaction.
Sample 1Sample 2

Examples of Lesser Position in a sentence

  • In the event that both the offer of a Lesser Position and a subsequent Involuntary Termination of a Grantee’s Service occur within following a Corporate Transaction, then acceleration of vesting shall occur only in connection with the offer of such Lesser Position and no additional acceleration shall occur in connection with such subsequent Involuntary Termination.

  • In the event that both the offer of a Lesser Position and a subsequent Involuntary Termination of an Optionee’s Service occur within following a Corporate Transaction, then acceleration shall occur only in connection with the offer of such Lesser Position and no additional acceleration shall occur in connection with such subsequent Involuntary Termination.

  • Employee may terminate his employment under this Agreement ten (10) days after delivery of written notice to Employer for "good reason", which shall exist if, within twelve (12) months following a Change in Control, Employee (i) is offered a Lesser Position (as defined below), or (ii) is required to relocate in violation of Paragraph 5 of this Agreement.

  • INVOLUNTARY TERMINATION shall mean the termination of the Service of any individual which occurs by reason of: (i) such individual's involuntary dismissal or discharge by the Corporation for reasons other than Misconduct, or (ii) such individual's voluntary resignation following the offer to such individual of a Lesser Position in replacement of the position held by him or her immediately prior to the Corporate Transaction or Change in Control.

  • In the event that both the offer of a Lesser Position and a subsequent Involuntary Termination of the Participant’s Service occur within twelve (12) months following a Change in Control or Corporate Transaction, then acceleration shall occur only in connection with the offer of such Lesser Position and no additional acceleration shall occur in connection with such subsequent Involuntary Termination.


More Definitions of Lesser Position

Lesser Position for an Optionee shall mean a new position or a change in the Optionee’s position which, compared with such individual’s position with the Company immediately prior to the Corporate Transaction, (i) offers a lower level of compensation (including base salary, fringe benefits and target bonuses under any corporate-performance based bonus or incentive programs), (ii) materially reduces such individual’s duties or level of responsibility, or (iii) includes assignment to an office more than miles from the Company’s office at which the employee serves prior to the Corporate Transaction.
Sample 1Sample 2
Lesser Position means a position having a lower overall salary range than one or more other positions in a family of positions.
Sample 1
Lesser Position means a new position or a change in Employee's position, which, compared with Employee's position immediately prior to the Change in Control, (i) reduces Employee's compensation (including base salary, fringe benefits or incentive compensation opportunities (as determined in good faith by Employee) under any corporate-performance based bonus and incentive programs), or (ii) materially reduces Employee's duties, status, reporting requirements or level of responsibility, or (iii) requires Employee to change his place of performance as provided in Section 4.
Sample 1

Related to Lesser Position

  • Permanent Position Any position which has required, or which will require the services of an incumbent without interruption, for an indefinite period.

  • Former position means the position held by a female or male employee immediately before proceeding on leave or part-time employment under this part whichever first occurs or, if such position no longer exists but there are other positions available for which the employee is qualified and the duties of which he or she is capable of performing, a position as nearly comparable in status and pay to that of the position first mentioned in this definition.

  • Covered position means a position in which the employee must be a member of the retirement

  • Shielded position means the location within the radiographic exposure device or storage container which, by manufacturer's design, is the proper location for storage of the sealed source.

  • Comparable Position means a position where:

  • Eligible position or "full-time job" means a full-time position

  • Regular Position means an individual Nurse’s job defined as a percentage of full-time hours as set out in the appointment letter referred to in Article 15.

  • Long Position means a buy position that appreciates in value if market prices increase. In respect of Currency Pairs: buying the Base Currency against the Quote Currency.

  • Call Equivalent Position shall have the meaning set forth in Rule 16a-1(b) under the Exchange Act.

  • Net Long Position means: such shares of Common Stock Beneficially Owned, directly or indirectly, that constitute such person’s net long position as defined in Rule 14e-4 under the Exchange Act mutatis mutandis, provided that “Net Long Position” shall not include any shares as to which such person does not have the right to vote or direct the vote; and the terms “person” or “persons” shall mean any individual, corporation (including not-for-profit), general or limited partnership, limited liability or unlimited liability company, joint venture, estate, trust, association, organization or other entity of any kind or nature.

  • Cash Position means the Company’s level of cash and cash equivalents.

  • Matched Positions for CFD trading shall mean Long and Short Positions of the same Transaction Size opened on the Client Account for the same CFD.

  • Queue Position means the priority assigned to an Interconnection Request, a Completed Application, or an Upgrade Request pursuant to applicable provisions of Tariff, Part VI.

  • Closed Position means the opposite of an Open Position.

  • Equivalent position means an employment position that:

  • Qualifying position means one or more jobs with one or more participating public em-

  • Ineligible position means any position which does not

  • relevant position , in relation to a business, means the position of director or manager, or other executive position, however that position is designated;

  • dominant position means a position of strength, enjoyed by an enterprise, in the relevant market, in India, which enables it to—

  • Excess Ownership Position means any of the following: (i) the Equity Percentage exceeds 9.0%, (ii) Dealer or any “affiliate” or “associate” of Dealer would own in excess of 14.0% of the outstanding Shares for purposes of Section 203 of the Delaware General Corporation Law or (iii) Dealer, Dealer Group (as defined below) or any person whose ownership position would be aggregated with that of Dealer or Dealer Group (Dealer, Dealer Group or any such person, a “Dealer Person”) under any federal, state or local laws, regulations or regulatory orders applicable to ownership of Shares (“Applicable Laws”), owns, beneficially owns, constructively owns, controls, holds the power to vote or otherwise meets a relevant definition of ownership in excess of a number of Shares equal to (x) the number of Shares that would give rise to reporting or registration obligations (except for any filings of Form 13F, Schedule 13D or Schedule 13G under the Exchange Act) or other requirements (including obtaining prior approval by a state or federal regulator) of a Dealer Person under Applicable Laws and with respect to which such requirements have not been met or the relevant approval has not been received minus (y) 1% of the number of Shares outstanding on the date of determination. The “Equity Percentage” as of any day is the fraction, expressed as a percentage, (A) the numerator of which is the number of Shares that Dealer and any of its affiliates or any other person subject to aggregation with Dealer, for purposes of the “beneficial ownership” test under Section 13 of the Exchange Act, or of any “group” (within the meaning of Section 13) of which Dealer is or may be deemed to be a part (Dealer and any such affiliates, persons and groups, collectively, “Dealer Group”), beneficially owns (within the meaning of Section 13 of the Exchange Act), without duplication, on such day and (B) the denominator of which is the number of Shares outstanding on such day (including, solely for such purpose, Shares that would be deemed outstanding pursuant to the last sentence of Rule 13d-3(d)(1)(i) if such sentence were applicable to the calculation of clause (B) of the definition of Equity Percentage).

  • Put Equivalent Position shall have the meaning set forth in Rule 16a-1(h) under the Exchange Act.

  • Hedge Positions means any purchase, sale, entry into or maintenance of one or more (i) positions or contracts in securities, options, futures, derivatives, or foreign exchange, (ii) stock loan transactions, or (iii) other arrangements (howsoever described) by the Issuer and/or any of its affiliates in order to hedge, individually or on a portfolio basis, its obligations under the Notes.

  • Synthetic Long Position means any option, warrant, convertible security, stock appreciation right, swap agreement or other security, contract right or derivative position, whether or not presently exercisable, that has an exercise or conversion privilege or a settlement payment or mechanism at a price related to the value of Common Stock or a value determined in whole or part with reference to, or derived in whole or in part from, the value of Common Stock and that increases in value as the value of Common Stock increases or that provides to the holder an opportunity, directly or indirectly, to profit or share in any profit derived from any increase in the value of Common Stock, in any case without regard to whether (i) such derivative conveys any voting rights in such securities to such Person or any of such Person’s Affiliates or Associates, (ii) such derivative is required to be, or capable of being, settled through delivery of such securities, or (iii) such Person or any of such Person’s Affiliates or Associates may have entered into other transactions that hedge the economic effect of such derivative. A Synthetic Long Position shall not include any interests, rights, options or other securities set forth in Rule 16a-1(c)(1)-(5) or (7) of the General Rules and Regulations under the Exchange Act.

  • Open Position means a Long Position or a Short Position which is not a Completed Transaction.

  • Short Position means any short position (whether conditional or absolute and whether in the money or otherwise) including any short position under a derivative, any agreement to sell or any delivery obligation or right to require another person to purchase or take delivery.

  • Eligible Earnings means the Grantee's base salary (prior to any deferrals under a cash or deferred compensation plan sponsored by the Corporation or an Affiliate) paid during the Plan Year. From time to time the Plan Administrator may, in its sole discretion, establish rules for determining the amounts of Eligible Earnings for employees who become Grantees other than on the first day of a Plan Year as well as any reduction of Eligible Earnings as a result of paid leave of absences.