Examples of Other Involuntary Termination in a sentence
If Employee voluntarily resigns from the Company under circumstances which do not constitute a Change in Control Involuntary Termination or an Other Involuntary Termination, then Employee shall not be entitled to receive payment of any severance benefits or equity award acceleration.
In addition, Employee shall receive payment(s) for all salary, bonuses and unpaid vacation accrued as of the date of Employee’s termination of employment and up to three (3) months of outplacement services not to exceed $5,000 per month (with a provider and in a program selected by the Company, provided Employee commences such services within ninety (90) days of Employee’s Other Involuntary Termination date).
If Employee’s employment is terminated for Cause at any time, if Employee voluntarily resigns from the Company under circumstances which do not constitute a Change in Control Involuntary Termination or an Other Involuntary Termination, or if Employee’s employment terminates due to Employee’s death or disability, then Employee shall not be entitled to receive payment of any severance benefits or equity award acceleration.
By reason of the Participant's Retirement, such Option or Stock Appreciation Right shall be exercisable for a period of five years following such Termination of Service, to the extent it is exercisable immediately before such Termination of Service, and shall then be forfeited to the extent not exercised; and (iv) Other Involuntary Termination.
If Employee voluntarily resigns from the Company under circumstances which do not constitute aChange in Control Involuntary Termination or an Other Involuntary Termination, then Employee shall not be entitled to receive payment of any severance benefits or equity award acceleration.
In the event that Employee is subject to an Other Involuntary Termination, twelve (12) months’ of Employee’s unvested Company option shares, restricted stock units and other equity-based awards (as measured from the termination date) shall become immediately vested on such termination date and the risk of forfeiture of Employee’s applicable number of restricted stock shall lapse on such termination date.
For purposes hereof, the “Severance Period” means (i) three (3) months if the Other Involuntary Termination is prior to July 1, 2017; (ii) six (6) months if the Other Involuntary Termination is on or after July 1, 2017 and prior to October 1, 2017; (iii) nine (9) months if the Other Involuntary Termination is on or after October 1, 2017 and prior to January 1, 2018; and (iv) eighteen (18) months thereafter.
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In the event that Employee is subject to an Other Involuntary Termination, twelve (12)months’ of Employee’s unvested Company option shares, restricted stock units and other equity-based awards (as measured from the termination date) shall become immediately vested on such termination date and the risk of forfeiture of Employee’s applicable number of restricted stock shall lapse on such termination date.
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