Nonrenewal Termination definition

Nonrenewal Termination has the meaning set forth in Section 11(c) hereof.
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Nonrenewal Termination means termination of Executive’s employment as a result of: (i) nonrenewal pursuant to a written notice delivered by Executive as described in Section 2, or (ii) conclusion of the Term of Employment on December 31, 2030.
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Nonrenewal Termination means the termination of Employee’s employment by the Company without Cause during the 30-day period immediately following the expiration of the Term; provided, however, that if the Company offers Employee a new employment agreement to be effective after the expiration of the Term, such new employment agreement is substantially similar to the agreements offered to similarly situated employees, and such new employment agreement provides Employee compensation equal to or greater than Employee’s then current compensation, and Employee declines to accept such new employment agreement, then any termination of Employee’s employment by the Company during the 30-day period immediately following the expiration of the Term shall be considered a voluntary termination by Employee not due to a Constructive Termination, as described in Section 8(f).
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Examples of Nonrenewal Termination in a sentence

  • The Company may terminate this Agreement upon the occurrence of a Cause Event pursuant to Section 13 of this Agreement even after a Termination Without Cause or Nonrenewal Termination and no Termination Fee shall be payable.

Related to Nonrenewal Termination

  • 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:

  • Disability Termination means the termination of a Participant’s employment under the disability provisions of the Participant’s Employment Agreement or, if the Participant is not a party to an Employment Agreement, then as a result of a “Disability” as defined in the Plan.

  • 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.

  • Nonrenewal Notice Date has the meaning specified in Section 2.03(b)(iii).

  • 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.

  • Involuntary Termination Without Cause means Executive’s dismissal or discharge by the Company other than for Cause or by reason of Executive’s death or Disability.

  • Nonrenewal means the termination of a term contract at the end of the contract period.

  • Automatic Renewal Term has the meaning set forth in Section 10(a) hereof.

  • Voluntary Termination means the termination by Executive of Executive's employment following a Change in Control which is not the result of any of clauses (i) through (v) set forth in the definition of Involuntary Termination above.

  • Termination Without Cause means the termination of the Employee’s employment by the Employer for any reason other than (i) Termination With Cause, or (ii) a termination by the Employer due to the Employee’s death or disability.

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

  • Constructive Termination means:

  • 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:

  • 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.

  • Termination Period means the period of time beginning with a Change in Control and ending on the earlier to occur of:

  • Termination or “Terminated” means, for purposes of this Plan with respect to a Participant, that the Participant has for any reason ceased to provide services as an employee, officer, director, consultant, independent contractor or advisor to the Company or a Parent or Subsidiary of the Company. An employee will not be deemed to have ceased to provide services in the case of (i) sick leave, (ii) military leave, or (iii) any other leave of absence approved by the Committee; provided, that such leave is for a period of not more than 90 days, unless reemployment upon the expiration of such leave is guaranteed by contract or statute or unless provided otherwise pursuant to formal policy adopted from time to time by the Company and issued and promulgated to employees in writing. In the case of any employee on an approved leave of absence, the Committee may make such provisions respecting suspension of vesting of the Award while on leave from the employ of the Company or a Parent or Subsidiary of the Company as it may deem appropriate, except that in no event may an Award be exercised after the expiration of the term set forth in the applicable Award Agreement. The Committee will have sole discretion to determine whether a Participant has ceased to provide services and the effective date on which the Participant ceased to provide services (the “Termination Date”).