Qualifying Termination Date definition
Examples of Qualifying Termination Date in a sentence
In addition, you shall be eligible to receive a Pro-Rated Bonus for the year in which your employment is terminated, calculated with reference to the Termination Date (as opposed to the Qualifying Termination Date), calculated and paid as provided in Section 3(d)(i)(B) above.
Effective as of February 1, 2020, Executive shall resign from his position as Executive Chairman of the Company and its subsidiaries, which termination is deemed a Qualifying Termination and which date is a deemed the Qualifying Termination Date.
You shall also be eligible for a discretionary bonus (as determined by the Board or a compensation committee of the Board) for the portion of the year served through the Qualifying Termination Date.
If you remain as an employee of the Company after a Qualifying Termination Date, the benefits provided by the Company to you under this Section 3(d)(i)(C) shall begin to be payable to you from the Termination Date (as determined with reference to your employment with the Company which continued after the Qualifying Termination) and shall be paid until the earlier of (x) eighteen (18) months after such Termination Date; or (y) you become eligible to receive group health coverage from another employer.
In addition, the Company will not retain or have a right of offset against the amounts payable to you under this Agreement and the Company will not be entitled to reduce the amount of any compensation or benefits payable to you under this Agreement by the amount of salary, bonus or other compensation of any kind, and/or corresponding benefits, earned or received by you from any employment, self-employment or other activities at any time after the Qualifying Termination Date.