Bad Leaver definition

Bad Leaver means, unless otherwise specified herein, (i) the Owner's ceasing to be a member of the executive management or an employee of the Company or a subsidiary due to the Owner being dismissed because of the Owner's breach of the employment relationship or (ii) the Owner's ceasing to be an employee of the Company or a subsidiary due to being dismissed during the probationary period applicable to the Owner or not being offered continuous employment after the expiry of the probationary period applicable to the Owner. The Owner’s employment shall in case of dismissal be deemed ceased at the time the notice of termination served by the Company or a subsidiary to the Owner expires.

Bad Leaver means a termination of the Participant’s Employment by the Company or its subsidiary, as applicable, for Cause.

Bad Leaver means a person who: (a) is no longer employed by the Company as a result of being dismissed for Cause; (b) is under notice of termination by the Company in circumstances where the Company is entitled to dismiss the Participant for Cause; (c) has tendered his resignation except for Good Reason; or (d) is no longer employed by the Company as a result of tendering his resignation except for Good Reason.

Examples of Bad Leaver in a sentence

• In the event that the Partner leaves the Company as a Bad Leaver, a defined percent as defined in Exhibit A of his shares shall be subject to mandatory transfer to the Company at their nominal value.

• The Investor, or, if appointed, the Supervisory Board shall be solely entitled to: acknowledge permanent termination of the Founder’s Commitment; confirm that a Leaving Founder is a Good Leaver or a Bad Leaver.

• A price per one Repurchased Share shall be calculated as follows: if the Leaving Founder is a Good Leaver – a price shall be established upon the basis of fair value within the meaning of the International Financial Reporting Standards by the Renowned Auditor at the Company’s expense; if the Leaving Founder is a Bad Leaver – a price shall equal the nominal value of the Repurchased Shares.

• EXECUTED as a deed poll 1 Note that the intention of the Bad Leaver language is to treat Founders as good leavers unless the Bad Leaver language applies (and as a result a very narrow definition of Bad Leaver applies).

• Call option If the “Outlined Terms” provide that the Company has the right to request the Optionholder to transfer all or part of his Shares acquired under the Option (the “Option Shares”) back to the Company (“Call Option”) then: The date on which the Optionholder becomes a Bad Leaver or Good Leaver shall be the “Trigger Date”.

More Definitions of Bad Leaver

Bad Leaver means, unless other- wise provided herein, (i) termina- tion of the Holder's employment re- lationship with the Company or any subsidiary which is due to the Com- pany's termination of the Holder's employment for breach of the em- ployment contract or (ii) termina- tion of the Holder's employment re- lationship with the Company or any subsidiary which is due to the Com- pany's termination of the Holder's employment during the probation period. In case of termination of employment, the Holder's employ- ment will be deemed to have termi- nated on the date when the Holder's termination notice, as given by the Company or such subsidiary, ex- pires.

Bad Leaver means, unless other- wise provided herein, (i) termina- tion of the Holder's employment re- lationship with the Company or any

Bad Leaver means any situation in which the Manager ceases to be an Eligible Employee, other than the situation defined as Good Leaver.

Bad Leaver means a person who has ceased to be employed or engaged by the Company or its subsidiary, in circumstances where they are not a Good Leaver.

Bad Leaver means a Participant whose Employment terminates as a result of:

Bad Leaver means a Participant whose Employment terminates as a result of the proper termination by a Group Company of his Employment (which shall include a termination which is not a proper termination only by virtue of a procedural error in the termination) where that Participant:

Bad Leaver means a Manager who (i) resigns or terminates their employment or engagement (directly or indirectly) with the AGER Group without Good Reason, other than as a Good Leaver, or (ii) is dismissed or removed from service for Cause."Good Leaver" shall mean a Manager who: (i) dies; (ii) becomes permanently disabled; (iii) has his/her engagement terminated by the AGER Group or any affiliate thereof for reasons other than Cause such that he or she is not engaged by the AGER Group or any affiliate thereof; or (iv) is qualified as a Good Leaver by the board of [AGER / the Company] acting in its entire discretion on a case-by-case basis and without creating any precedent. AGER BERMUDA HOLDING LTD. – SUBSCRIPTION AGREEMENT