Comparable Job definition

Comparable Job means employment following the Change of Control (i) with substantially the same duties and responsibilities as were held by Executive prior to the Change of Control (excluding, for this purpose, changes following the Change of Control (x) to Executive’s reporting responsibilities and (y) arising by reason of Company ceasing to be a public company), (ii) at the same location at which Executive provides services prior to the Change of Control or a location within fifty (50) miles of such location and (iii) at the same or increased Base Salary and Target Performance Bonus levels as were in effect prior to the Change of Control.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Comparable Job means a job with the Company where (i) the Base Salary to be paid by the Company is not materially reduced from the Base Salary previously paid by the Company to such executive; (ii) the grade level offered is not less than the grade level the executive held immediately prior to the date the executive was offered the job; and (iii) the executive’s principal place of work is not changed on or before the first date of employment in the new job to a location that is a material distance from the executive’s principal place of work immediately prior to the date the executive was offered the job, without the prior consent of the executive. For purposes of the preceding sentence, a distance of less than fifty (50) miles shall be treated as immaterial.

Comparable Job means a job at the same pay grade with the same or equivalent level of responsibility.

Examples of Comparable Job in a sentence

• Those Business Employees and Affiliated Employees who do not accept Comparable Job Offer from Purchaser shall not be considered Transferred Business Employees for any purpose of this Agreement.

• The position offered to each Consumer Bank Employee and each Consumer Bank Related Employee must be a Comparable Job.

• BNY shall (i) reimburse JPM for the full cost of any Severance Benefits paid to a Corporate Trust Business Employee who BNY identified as a Selected Non-Automatic Transfer Employee, but to whom BNY did not ultimately make a Comparable Job Offer and (ii) be fully liable and indemnify JPM for the full cost of any Severance Benefits paid to a Selected Automatic Transfer Employee who is dismissed by BNY following the Closing Date.

• For purposes of the terms of the Comparable Job Offers to Corporate Trust Business Employees, BNY has relied upon the Final Corporate Trust Closing Statement including an accrual for the Corporate Trust Pre-Closing Annual Incentive Bonus Pool.

• Those Corporate Trust Business Employees who do not receive, or do not accept, a Comparable Job Offer from BNY, and those Corporate Trust Business Employees whose employment does not transfer to BNY by operation of Applicable Law, shall not be considered Transferred Corporate Trust Employees for any purpose of this Agreement.

More Definitions of Comparable Job

Comparable Job means one with similar duties and the same or substantially similar biweekly salary range. The requirement to offer a comparable job shall not be met if the target job requires a hazardous duty retirement covered employee to move to non-hazardous duty retirement employment, or vice versa.

Comparable Job means, with respect to any Transferred Employee, a position with Purchaser (a) with a base pay equal to or greater than that being paid by Seller to the Transferred Employee and (b) to be performed at a Branch or to be performed within thirty (30) miles of such employee’s current work location, each as applicable to such Transferred Employee immediately prior to the Closing Date.

Comparable Job means a job offering (i) no material reduction in base salary or annual cash compensation opportunity (i.e., base salary plus target bonus); (ii) no material adverse reduction in job scope or responsibilities; and (iii) no change by more than fifty (50) miles in the principal location in which Executive is required to perform services.

Comparable Job means, with respect to any Bank Employee, a position with Purchaser (a) with a compensation level commensurate with that provided to similarly-situated employees of Purchaser and (b) with respect to a customer-facing Bank Employee located at a Branch, to be performed at the same Branch or another Branch of Seller existing as of the date hereof.

Comparable Job means a position with the Sponsor with (a) an annual base pay no less than base pay for the current position; (b) no significant changes in work schedule; (c) with reasonably similar employment background and skill set requirements as the current position; and (d) to be performed within forty (40) miles from such employee’s home or his or her current commute, whichever is greater.

Comparable Job means, as it relates to any Eligible Employee on any date, a position with a Monthly Base Pay at least equal to the Eligible Employee's Monthly Base Pay on such date.

Comparable Job for purposes of Section III shall mean a job that pays at least 85% of the Employee’s base salary or straight time hourly rate of pay immediately prior to the offer of employment and the location of which is no more than 35 miles from the Employee’s former primary worksite. The 35-mile requirement will not be applicable where the Employee’s commutation to the new primary worksite is less than the Employee’s commutation the former primary worksite. The Committee shall determine the primary worksite where the Employee does not report to any one work location on a regular basis. An offer of continued employment or reemployment after a Change of Control shall be subject to the limitations set forth in Section IV. E. “Change of Control Termination” herein. The Committee’s determination as to whether a job is “comparable” shall be made in the Committee’s sole and absolute discretion and shall be final and binding on all parties.