Failure to Extend definition

Failure to Extend means notification of Employee by the Corporation that it does not desire to extend the Agreement Term (or the term of any successor agreement) or that it desires to do so only on terms in the aggregate that are materially less favorable to Employee than those applicable to Employee at the time of said notice. The Corporation shall give Employee notice with respect to extension or non-extension of the Agreement Term (or the term of any successor agreement) not less than six months before the expiration of the Agreement Term or the term of any successor agreement, as the case may be. Failure to provide any notice on or before the six month period shall also constitute a Failure to Extend. If the Corporation notifies Employee that it desires to extend the Agreement Term (or the term of any successor agreement) on terms that are in the aggregate substantially similar to or more favorable than those applicable to Employee at the time of said notice, any nonextension shall not be deemed to be a Failure to Extend.

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Failure to Extend means notification of Employee by the Corporation that it does not desire to extend the Agreement Term (or the term of any successor agreement) or that it desires to do so only on terms in the aggregate that are materially less favorable to Employee than those applicable to Employee at the time of said notice. If the Corporation notifies Employee that it desires to extend the Agreement Term (or the term of any successor agreement) on terms that are in the aggregate substantially similar to or more favorable than those applicable to Employee at the time of said notice, any nonextension shall not be deemed to be a Failure to Extend.

Failure to Extend means Accenture’s failure to extend the term of this Agreement beyond the Initial Term or any renewal Term, if Answerthink offers, while not being in material breach of this Agreement, to extend this Agreement with no substantive changes to the terms and conditions hereof, except for increases in Answerthink’s rate card which shall not increase more than ten percent (10%) per calendar year. In the event during any calendar quarter Answerthink is not provided with the opportunity to staff at least ninety percent (90%) of its pro rata portion of positions contemplated by Sections 2.2.1 and 2.2.2 (a “Position Shortfall”), then upon notice to Accenture from Answerthink, Accenture shall have three months from the date of such notice (the “Catch-up Period”) to provide enough positions pursuant to Sections 2.2.1, 2.2.2 or 2.2.3 to make up the Position Shortfall (such positions will be in addition to any other positions otherwise required during the Catch-up Period pursuant to Sections 2.2.1 and 2.2.2). If the Position Shortfall is not made up during the Catch-up Period, upon notice to Accenture, Answerthink may terminate this Agreement based on the material breach by Accenture. Alternatively, upon a termination of this Agreement by Accenture without cause, Accenture may continue to allocate positions within the scope of the Alliance prior to such termination to Answerthink equal to the position percentages set forth in Sections 2.2.1 and 2.2.2 that would be so allocated if this Agreement were still in effect, in lieu of payment of any or all such Potential Revenue amounts, until the complete roll-off of such amounts, i.e., until the positions have been, in the aggregate, allocated and revenues related thereto paid to Answerthink or Answerthink has been compensated for all Potential Revenue.

Examples of Failure to Extend in a sentence

• In no event shall the Termination of Employment by the Corporation without Cause, by Employee as described in Section 4.2(a) or by reason of a Failure to Extend be deemed to be a Termination of Employment by Employee pursuant to this Section 4.2(b).

• Such cash compensation shall continue to be paid until the later of the expiration of the Agreement Term or the first anniversary of the date of the Qualifying Termination; provided, that if the Qualifying Termination is by reason of a Failure to Extend, such cash compensation shall continue to be paid following the date of the Termination of Employment only until the first anniversary of the date of notification by the Corporation constituting the Failure to Extend.

• Without Cause, Resignation for Good Reason, Termination or Resignation Following Change of Control and Failure to Extend Employment Agreement.

• In addition, in the event of the termination of this Agreement by Accenture without cause, termination of this Agreement by Answerthink for cause (i.e. that is based on a material breach by Accenture), or termination of this Agreement due to Accenture’s Failure to Extend, Accenture shall pay an amount to Answerthink equal to forty percent (40%) of Potential Revenue.

• In the event of a Company Notice Termination, a Good Reason Termination or a Failure to Extend the Term, the Company shall pay to Executive termination payments in an amount equal to the greater of (A) two (2) times Executive’s Annual Base Salary at the rate in effect on the date the notice of the Good Reason Termination or Company Notice Termination is given or the date the Company delivers its notice to Executive that it does not wish to extend the Term (as applicable) or (B) $700,000.00.