Qualifying Circumstance definition

Qualifying Circumstance means the circumstance wherein Participant is no longer an employee of the Company or any subsidiary thereof for any reason whatsoever except for a Cause Termination, including, without limitation, any removal from such employment without Cause, any resignation by Participant or Participant’s ceasing to be an employee due to Participant’s death or disability.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Qualifying Circumstance means, with reference to an interruption or termination of the Grantee's Continuous Status as an employee of the Employers, an interruption or termination (i) that occurs due to the Grantee's death or Disability, (ii) that occurs after the Grantee has attained age 62 and completed 25 years of service, or (iii) that the Compensation Committee determines (A) to be due to a reduction in force, reallocation of responsibilities or similar initiative of the Corporation or the Bank and (B) to be unrelated to any dissatisfaction, merited or unmerited, with the Grantee's job performance.

Qualifying Circumstance means, with reference to an interruption or termination of the Grantee’s Continuous Status as an employee of the Employers, an interruption or termination that occurs due to the Grantee’s death or Disability.

Examples of Qualifying Circumstance in a sentence

The existence or non-existence of a Qualifying Circumstance, and the existence and effective date of any termination of your Employment Period, shall, in the event of any uncertainty or dispute, be determined for all purposes under the Plan and this Agreement by the Committee, whose judgment on such matters shall be conclusive and binding.
If your period of continuing employment ("Employment Period") with the Company and its Subsidiaries terminates during the Restricted Period otherwise than by reason of a Qualifying Circumstance (as defined below), the then-unvested portion of your Award (including your Restricted Stock and all associated property and rights, and your LTI Cash Right) shall be forfeited and cancelled effective as of the last day of your Employment Period.
If your Employment Period terminates during the Restricted Period by reason of a Qualifying Circumstance, your Award will be deemed to be fully earned and vested.
For example, if a Qualifying Circumstance should occur after the 1/2 Vesting Milestone but prior to the 3/4 Vesting Milestone, Participant’s vesting percentage with respect to the Participating Investment and the Incentive Distributions shall be 50% (but shall in no event increase to 75% or 100% thereafter).
If Participant does not timely elect to make an Additional Investment or does not have the right to make such Additional Investment due to the occurrence of a Qualifying Circumstance or Cause Termination, Participant recognizes that his or her Percentage Interest will be diluted as a result of the additional investment made by Whitehall to fund the capital call.
For purposes of this Section 5, a "Qualifying Circumstance" means, with reference to the termination of your employment with the Company and all Subsidiaries, one that occurs due to (i) your death or disability (as determined by any disability policy or program maintained by the Company), or (ii) such other event or circumstance that the Committee specifically approves and designates as a Qualifying Circumstance.
If your period of continuing employment ("Employment Period") with the Company and its Subsidiaries terminates during the Restricted Period otherwise than by reason of a Qualifying Circumstance (as defined below), your Award (including your Restricted Stock and all associated property and rights, and your right to receive the benefit of the cash credit) shall be forfeited and cancelled in its entirety effective as of the last day of your Employment Period.
If the Grantee's Continuous Status with the Employers terminates during the Restricted Period otherwise than by reason of a Qualifying Circumstance, the Restricted Shares shall be forfeited and cancelled.
For purposes of this Section 5, a "Qualifying Circumstance" means, with reference to the termination of your employment with the Company and all Subsidiaries, one (i) that occurs due to the your death or disability (as determined by any disability policy or program maintained by the Company), or (ii) that occurs due to such other event or circumstance that the Committee specifically approves and designates as a Qualifying Circumstance.
For purposes of this Section 5, a "Qualifying Circumstance" means, with reference to an interruption or termination of your status as an employee of the Company or any of its Subsidiaries, an interruption or termination (i) that occurs due to the your death or disability (as determined by any disability policy or program maintained by the Company), or (ii) that occurs after you have attained the age of 62.

More Definitions of Qualifying Circumstance

Qualifying Circumstance means any of the events described in Section 4.2 hereof. BJ. "Receipt and Release" means a receipt for payment of benefits hereunder and a release of claims against the Company in the form set forth in Exhibit A. The provisions of Exhibit A are incorporated herein by reference. DD. "Restricted Shares" means Company Shares granted to Executive under the Long-Term Incentive Plan subject to restrictions. EE. "Retirement" or "Retiring" shall be deemed to be the reason for the termination by the Company or Executive of Executive's employment if Executive's employment is terminated in accordance with (i) the Company's -16- 22 retirement policy (excluding its early retirement policy), which applies to its salaried employees, as in effect immediately prior to the occurrence of the Change of Control of the Company, or (ii) any retirement arrangement which Executive has consented to. FF. "Retirement Plan" means the Comerica Incorporated Retirement Plan or any plan adopted by the Company as a successor to such plan. GG. "Severance Benefit(s)" means the items of severance compensation as provided in Article 4 hereof.