Involuntary Termination definition

Involuntary Termination means a termination of your employment with the Company pursuant to either (i) a termination initiated by the Company without Cause, or (ii) your resignation for Good Reason, and provided in either case such termination constitutes a Separation from Service. An Involuntary Termination does not include any other termination of your employment, including a termination due to your death or disability.
Involuntary Termination means a termination of the Executive’s employment by the Company that occurs for reasons other than for Cause, Disability or death.
Involuntary Termination means (i) without the Employee’s express written consent, the significant reduction of the Employee’s duties or responsibilities relative to the Employee’s duties or responsibilities in effect immediately prior to such reduction; provided, however, that a reduction in duties or responsibilities solely by virtue of the Company being acquired and made part of a larger entity (as, for example, when the Chief Financial Officer of Company remains as such following a Change of Control and is not made the Chief Financial Officer of the acquiring corporation) shall not constitute an “Involuntary Termination”; (ii) without the Employee’s express written consent, a substantial reduction, without good business reasons, of the facilities and perquisites (including office space and location) available to the Employee immediately prior to such reduction; (iii) without the Employee’s express written consent, a material reduction by the Company in the Base Compensation or Target Incentive of the Employee as in effect immediately prior to such reduction, or the ineligibility of the Employee to continue to participate in any long-term incentive plan of the Company; (iv) a material reduction by the Company in the kind or level of employee benefits to which the Employee is entitled immediately prior to such reduction with the result that the Employee’s overall benefits package is significantly reduced; (v) the relocation of the Employee to a facility or a location more than 50 miles from the Employee’s then present location, without the Employee’s express written consent; (vi) any purported termination of the Employee by the Company which is not effected for death or Disability or for Cause; or (vii) the failure of the Company to obtain the assumption of this agreement by any successors contemplated in Section 10 below.

Examples of Involuntary Termination in a sentence

  • In the event of the Executive’s Involuntary Termination, if the Executive timely elects coverage under COBRA, the Company shall continue to provide to the Executive, at the Company’s expense, the Company’s health-related employee insurance coverage for the employee only as in effect immediately prior to the Executive’s Involuntary Termination for a period of twelve (12) months following such Involuntary Termination.

  • Upon the Executive’s Involuntary Termination, the vesting and exercisability of all then outstanding stock options and shares of restricted stock (or any other equity award, including, without limitation, stock appreciation rights and restricted stock units) granted to the Executive under any Equity Incentive Plan shall be accelerated as to 100% of the shares subject to any such equity awards granted to the Executive.

  • In addition, the applicable exercise period of the Executive’s stock options granted under the Equity Incentive Plan(s) shall be extended so as to expire on the last day of the term applicable to such stock option, as measured from the date of Involuntary Termination and Executive shall have 5 years to exercise any such rights.

  • In the event of the Executive’s Involuntary Termination, the Executive shall be entitled to receive an amount equal to twenty four (24) months of the Executive’s Base Salary, which shall be paid within ten (10) days following the Termination Date.

  • In addition, the applicable exercise period of the Executive’s stock options granted under the Equity Incentive Plan(s) shall be extended so as to expire on the last day of the term applicable to such stock option, as measured from the date of Involuntary Termination.


More Definitions of Involuntary Termination

Involuntary Termination means (a) the Executive’s Separation from Service by reason other than for Cause, death, Disability, or Mandatory Retirement, or (b) the Executive’s Separation from Service by reason of resignation of employment for Good Reason.
Involuntary Termination means the termination of the Executive’s employment (i) by the Company (or any successor thereto) without Cause, as defined in Appendix A, or (ii) by the Executive for Good Reason, as defined in Appendix A.
Involuntary Termination means:
Involuntary Termination means the termination of the Service of any individual which occurs by reason of:
Involuntary Termination means (unless another definition is provided in the applicable Option Agreement, Restricted Stock Purchase Agreement, employment agreement or other applicable written agreement) the termination of a Participant’s Continuous Service Status other than for (i) death, (ii) Disability or (iii) for Cause by the Company or a Parent, Subsidiary, Affiliate or successor thereto, as appropriate.
Involuntary Termination means either (a) your Termination Without Cause or (b) your Resignation for Good Reason.
Involuntary Termination means (a) a Participant terminates his or her employment with the Company (or any parent or subsidiary of the Company) for Good Reason, or (b) the Company (or any parent or subsidiary of the Company) terminates the Participant’s employment for a reason other than Cause, the Participant’s death or Disability.