Protected Termination definition

Protected Termination means any termination of Executive's employment with the Company (including, without limitation, a Constructive Termination as provided in Section 2.5 below) other than (i) a voluntary termination of such employment by Executive other than as a result of a Constructive Termination; or (ii) a termination by the Company of such employment for cause, which shall mean, for purposes of this Section 1, a termination of Executive's employment by the Company as a result of the occurrence of one or more of the following with respect to Executive: (w) Chronic alcoholism or drug addiction, to the extent discharge therefor is permitted by applicable law; (X) misappropriation of any money of other assets of properties of the Company or any subsidiary of the Company; (y) the conviction of Executive of any felony, or any lesser crime of offense materially and adversely affecting the property, reputation or goodwill of the Company or any of its subsidiaries; or (z) willful or gross neglect by Executive of his duties, or willful misconduct by Executive in connection with the performance of his duties, which neglect or misconduct shall have an adverse effect on the Company or one of its subsidiaries and which shall remain unremedied for thirty (30) days after written notice (indicating with reasonable specificity the events of neglect and/or misconduct) given to Executive by the Company through its Board of Directors.

Protected Termination means a termination of the Grantee’s employment with the Company or a Subsidiary by the Company or such Subsidiary without Cause or by the Grantee with Good Reason.

Protected Termination means, with respect to a Participant, a termination of such Participant’s Service (i) by the Company without Cause, (ii) due to the Participant’s death or Disability, or (iii) by the Participant with Good Reason.

Examples of Protected Termination in a sentence

• Notwithstanding the foregoing, any RSUs that are then outstanding and vested (determined following application of the second sentence of Section 3.5(b)) will be settled upon the earlier of (i) a Change of Control (as defined below) and (ii) a Protected Termination.

• In the event of a Protected Termination, the Company shall pay Executive in accordance with the Company’s vacation policy all accrued, unused vacation time at the Base Salary (but not for any unused sick or personal time).

• In the event of a Protected Termination, outplacement services shall be provided to the Executive of a total cost not to exceed $15,000.00.

• Any payments made to the Executive under this Section 2 shall be in lieu of any other severance payments or benefits to which the Executive may be entitled under any other agreement or arrangement with the Company (other than an agreement as to a bonus structured as a transition or success bonus related to a Change in Control), including without limitation any payments or benefits under an employment agreement between the Executive and the Company which become due upon a Protected Termination.

• In the event of a Protected Termination, all outstanding stock options to acquire Company stock held by the Executive on the Date of Termination shall become 100% vested and exercisable, but shall remain exercisable only for such remaining period as is provided in the stock option.

More Definitions of Protected Termination

Protected Termination means a termination of Executive’s employment (i) by the Company without Cause or by the Executive for Good Reason, which in either case occurs within twenty four (24) months after a Change in Control or (ii) by the Board without Cause on or before the date of a Change in Control in anticipation of such Change in Control or at the request of a potential acquirer of the Company, or its directors, officers, or agents, which has indicated an intent or taken steps reasonably calculated to effect a Change in Control and a Change in Control actually occurs. A termination of Executive’s employment at any time by reason of death or Total Disability, by the Company for Cause, or by the Executive without Good Reason does not constitute a Protected Termination.

Protected Termination means termination of Executive’s employment:

Protected Termination has the meaning specified in Section 3(c).

Protected Termination has the meaning specified in the Employment Agreement. “Release Conditions” means the requirements set forth in Section 7.G. of the Employment Agreement that you deliver a “Release” (as defined in the Employment Agreement) in accordance with such Section in order to receive certain benefits upon a termination of your employment under certain circumstances. “Start Date” has the meaning specified in the Employment Agreement.

Protected Termination has the meaning specified in Section 5.3(a).

Protected Termination all references in such definition to the term "Corporation" shall be deleted and replaced by the term "Statoil Entity".

Protected Termination means either termination of the Holder's employment by the Corporation without Cause or resignation of the Holder from employment with the Corporation with Justification.