Non-Renewal Termination definition

Non-Renewal Termination means a termination of Participant’s employment by the Corporation due to the delivery by the Corporation of a notice of non-renewal of his employment agreement.
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Non-Renewal Termination means a termination of Executive’s employment by reason of a Non-Renewal of the Employment Period by the Company; and, at the time of such Non-Renewal, Executive is willing and able to continue performing services on the terms and conditions set forth herein during the Renewal Term. (i) “Plan” shall mean Holdings’ 2003 Equity Incentive Plan, as amended and restated from time to time.
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Non-Renewal Termination means the termination of the Employee's employment on January 1, 1998 if prior thereto the Employer has not offered to continue such employment for a period of not less than two years at a salary of not less than $265,000 per year and with benefits comparable to those provided for in Paragraphs 6.1, 6.2, 6.3, 6.4 and 6.5.
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Examples of Non-Renewal Termination in a sentence

  • Any termination of the Executive’s employment by the Company or by the Executive during the Term of Employment (other than as a result of the death of the Executive or a Non-Renewal Termination described in Section 6(g)) shall be communicated by written notice of termination to the other party hereto.

  • For the avoidance of doubt, if a Non-Renewal Termination occurs on or within one (1) year after the consummation of a Change in Control of the Company, the Severance Multiple shall equal two (2).

  • Any termination of the employment of the Employee hereunder other than as a result of an Involuntary Termination, a Termination for Cause, a Termination without Cause, a Termination for Good Reason (as defined below) or a Non-Renewal Termination (as defined below) will be referred to hereinafter as a “Voluntary Termination”.

  • Foodmark counters that the Non-Renewal Termination Fee would not be a penalty clause under Massachusetts law.

  • Ct. 1998) (“A term fixing unreasonably large liquidated damages is unenforceable on grounds of public policy as a penalty.” (quoting Restatement (Second) of Contracts§ 356)), I do not find any substantial Massachusetts public policy reason that its law must control the interpretation or enforceability of the Non-Renewal Termination Fee.This is not a situation in which Massachusetts has an interest in protecting those who do business in the state from the impact of divergent foreign law.

  • As discussed above, the Non-Renewal Termination Fee amounts to no more than 10% of annualized net invoice sales - the equivalent of no more than one and one half months of projected sales.

  • Nevertheless, since both are implicated, I provide the following analysis to frame the issues.Alasko argues that if a Section 11 termination implicates the Non-Renewal Termination Fee, the contract will renew indefinitely and Alasko will have no way of ending the agreement without paying the fee.

  • For the avoidance of doubt, if a Non-Renewal Termination occurs on or within one (1) year after the consummation of a Change in Control of the Company, the Severance Multiple shall equal three (3).

  • But neither party has produced any evidence or argument to justify reducing the amount of the Non-Renewal Termination Fee based on Alasko’s partial performance.Nor is any reduction appropriate.

  • Therefore, the Non-Renewal Termination Fee is enforceable even if it disincentivizes termination in certain circumstances.

Related to Non-Renewal Termination

  • Extended Termination Date has the meaning specified in Section 2.16(c).

  • Renewal Term has the meaning set forth in Section 2.

  • Initial Termination Date has the meaning set forth in Section 8.2(a).

  • Renewal Period “Buyer” and “Default” have the same meanings respectively as they have in the Water Agreement.

  • Post-Termination Period means the twelve (12) month period beginning on the Termination Date.

  • Initial Term has the meaning set forth in Section 7.1.

  • Extended Term shall have the meaning given such term in Section 2.4.

  • 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.

  • Termination Notice means the communication issued in accordance with this Agreement by one Party to the other Party terminating this Agreement;

  • Renewal Terms means the renewal terms of a Property Schedule, each having a duration of one year and a term coextensive with Lessee's budget year.

  • Stated Termination Date means, with respect to the Revolving Credit Facility, March 4, 2027 and, with respect to any Extended Revolving Credit Facility, the maturity date set forth in the Extension Agreement related thereto.