Executive Termination definition

Executive Termination means a Termination of Employment by Executive for any reason including Good Reason or no reason during the 30-day period commencing twelve months after a Change of Control.
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Executive Termination shall be deemed to have occurred if, between April 1, 2002 and that last day of this Agreement, the Executives resigns within 90 days after the first day of a quarter and on the first day of such quarter total trade credit available to the Company in the form of Parent Guarantees and letters of credit supporting management of the Company's crude oil position is less than $200 million. Additionally, for the 90 days following April 1, 2002 only, an Executive Termination can also occur if total trade credit available to the Company in the form of Parent Guarantees and letters of credit supporting management of the Company's crude oil position is less than $200 million on the first day of any of the preceding three (3) quarters.
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Examples of Executive Termination in a sentence

  • This Agreement supersedes and terminates any and all prior Executive Termination Benefits Agreements by and among Company and the Executive.

  • Notwithstanding the foregoing, the Bank shall not pay the Executive Termination Benefits in excess of three (3) times his average annual compensation (or such other amount that may be permitted by the Office of Thrift Supervision pursuant to regulation or regulatory guidance).

  • At any time during the six month period following a Change in Control Date, the Executive shall have the right to terminate the Executive's employment with the Company at the Executive's sole discretion (the "Executive Termination Right").

  • In the event Executive's employment is terminated within two years of the date of a Change in Control as a result of an Executive Termination Event, Executive shall be entitled to the benefits set forth below.

  • The date of termination under this Section 5(c)(i) shall be referred to as the "Executive Termination Date" in this Agreement.

  • In the event the Executive's employment is terminated within two years of the date of a Change in Control as a result of an Executive Termination Event, the Executive shall be entitled to the benefits set forth below, subject to the signing by the Executive of the Company's standard form of general release of employment claims as generally used prior to the Change in Control and the expiration of any statutory revocation period.

  • Termination Upon Non-Renewal by Executive; Termination by Employer for Cause.

  • The Executive and the Employer agree that it is impossible to determine with any reasonable accuracy the amount of the prospective damages to the Employer if the Executive's employment is terminated for any reason other than death, disability or for good reason (as defined in Section 6.3) by the Executive (such termination referred to in this paragraph as "Executive Termination Without Cause").

  • The parties acknowledge that this Agreement and General Release is being executed in accordance with Section 7.02(b) of the Executive Termination Agreement.

  • In addition to any obligations imposed by law upon any successor to the Company, the Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree to perform this Executive Termination Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.

Related to Executive Termination

  • Employment Termination means the effective date of: (i) Employee’s voluntary termination of employment with the Company with Good Reason, or (ii) the termination of Employee’s employment by the Company without Cause.

  • Constructive Termination means:

  • Constructive Termination Without Cause means a termination of the Executive's employment at his initiative as provided in this Section 10(c) following the occurrence, without the Executive's written consent, of one or more of the following events (except as a result of a prior termination):

  • Employment Termination Date means the date of termination of your employment with the Company or a Subsidiary, as applicable.

  • Good Reason Termination means a termination of employment or service initiated by the Participant upon or after a Change of Control upon one or more of the following events: