Definition of Involuntarily Terminated


Involuntarily Terminated means the Company or its successor or surviving entity (or parent thereof) terminates the Recipient's service as an employee or a consultant without Cause other than for death or disability and is not promptly hired or engaged by the successor or surviving entity or offered employment or an engagement by the successor or surviving entity.

Examples of Involuntarily Terminated in a sentence

In the event Director is Involuntarily Terminated by the Bank prior to attaining the Early Retirement Age, then the Director shall receive the Accrued Liability Balance as of the date of the Separation From Service.
An Employee must be employed with the Company and its Subsidiaries on the payment date to be eligible to receive his or her Year 2000 Bonus; provided, that any Employee who is Involuntarily Terminated prior to the date on which he or she would have received the Year 2000 Bonus shall receive his or her Year 2000 Bonus on the date that the Year 2000 Bonuses are paid generally by the Company and its Subsidiaries to Employees.
If Employee is Involuntarily Terminated, vesting of all Option Shares will be accelerated in full and all such options shall remain in effect for a one (1) year period following the date of termination, and the Repurchase Option will lapse with respect to all Restricted Shares.
For the avoidance of doubt, Employees who are Involuntarily Terminated during the six-month period following the Effective Time shall be deemed to meet all eligibility requirements to receive severance benefits pursuant to the Parent Severance Plan.
In the event Executive is Involuntarily Terminated or Terminates for Good Reason following a Change in Control and prior to attaining the Normal Retirement Age, then the Applicable Percentage shall be deemed to be that percentage Executive would have received had he Remained Employed until attaining the Normal Retirement Age.