Involuntary Termination Benefit definition

Involuntary Termination Benefit means the benefit described in Section 4.03.
Sample 1Sample 2Sample 3
Involuntary Termination Benefit means the benefit determined in accordance with Article VII.
Sample 1Sample 2Sample 3
Involuntary Termination Benefit means the benefit described in Section 4.05.
Sample 1Sample 2

Examples of Involuntary Termination Benefit in a sentence

  • Subject to adjustments under subsection (c) below, immediate full vesting under subsection (d) below and forfeiture under Article 7, the Early Involuntary Termination Benefit is the annual installment payment determined in the same manner as the Early Voluntary Termination Benefit under Section 3.2(a).

  • Unless the Executive has made a timely election under Section 3.6 to receive a lump-sum payment, the Company shall pay the Early Involuntary Termination Benefit under the same payment schedule under Section 3.1(b) as for the Normal Retirement Benefit.

  • The Early Involuntary Termination Benefit may be separately increased under the same terms and conditions that apply to increases in the Early Voluntary Termination Benefit (see Section 3.2(c)).

  • The annual benefit under this Section 2.2 is the Early Involuntary Termination Benefit set forth on Schedule A for the Plan Year during which Termination of Employment occurs.

  • A Participant's Involuntary Termination Benefit shall be deemed to commence as of his or her Normal Retirement Date unless an Approved Early Retirement Date is approved by the Committee.

  • The Involuntary Termination Benefit shall be paid as soon as practicable after the date of the Participant's involuntary termination; provided that in the case of a Participant who is a "key employee" (as defined in section 416(i) of the Internal Revenue Code without regard to paragraph (5) thereof), the Participant's Involuntary Termination Benefit shall be paid no earlier than six months following the Participant's separation from service.

  • A Participant's Involuntary Termination Benefit shall be a lump sum payment which is the greater of the Actuarial Equivalent of the benefits defined in paragraph (1) below or the Actuarial Equivalent of the benefits defined in paragraph (2) below.

  • In the event of Executive’s Involuntary Termination prior to Retirement, the Bank shall pay the Executive the Involuntary Termination Benefit each year, in lieu of any other Benefit under this Agreement, in equal monthly installments (1/12 of the annual Involuntary Termination Benefit) for a period of one hundred and eighty (180) months, commencing with the first day of the month following the date of Involuntary Termination.

  • Operators who wish to register in this database can provide a description of their projects and their expectations from partnership according to the project sheet available on the website of the Agency "www.andi.dz" under the heading "Partnership Portfolio".

  • The annual benefit under this Section 2.2 is the Involuntary Termination Benefit set forth on Schedule A for the Plan Year during which the Involuntary Termination Date occurs.


More Definitions of Involuntary Termination Benefit

Involuntary Termination Benefit means an annual benefit equal to the Early Retirement Benefit or Normal Retirement Benefit that the Executive would have received had the Executive Retired from the Bank on the first day of the month during which Involuntary Termination occurs, payable in accordance with the terms of this Agreement. Beginning on the thirteenth month that the Involuntary Termination Benefit is paid, and continuing thereafter until paid in full, the Involuntary Termination Benefit shall be increased each year by three percent (3%) from the previous year’s Involuntary Termination Benefit amount to account for cost of living increases.
Sample 1
Involuntary Termination Benefit means the benefit described in Section 3.2.
Sample 1
Involuntary Termination Benefit means the benefit set forth in Section 7.3.
Sample 1
Involuntary Termination Benefit means a lump sum payment benefit equal to the Executive’s Accrual Balance shown in Column (5) of Exhibit A, attached hereto and fully incorporated herein by reference, as of the beginning of the month during which Involuntary Termination occurs.
Sample 1

Related to Involuntary Termination Benefit

  • 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 of Employment means any termination of Executive's employment by the Company and its subsidiaries, other than a termination for Cause or due to death or Disability.

  • Termination Benefit means the benefit set forth in Article 7.

  • Voluntary Termination means termination by the Employee of the Employee's employment with the Company, excluding termination by reason of Employee's death or disability as described in Sections 2.5 and 2.6.

  • Involuntary Termination Without Cause means Executive’s dismissal or discharge other than for Cause. The termination of Executive’s employment as a result of Executive’s death or disability will not be deemed to be an Involuntary Termination Without Cause.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Voluntary Termination for Good Reason means that the Executive voluntarily terminates his employment after any of the following are undertaken without Executive’s express written consent:

  • Change in Control Benefit means the benefit described in Section 2.4.

  • 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:

  • Constructive Termination means:

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Nonqualifying Termination means a termination of the Executive’s employment (1) by the Company for Cause, (2) by the Executive for any reason other than a Good Reason, (3) as a result of the Executive’s death or (4) by the Company due to the Executive’s absence from his duties with the Company on a full-time basis for at least 180 consecutive days as a result of the Executive’s incapacity due to physical or mental illness.

  • Severance from Service Date means the earlier of:

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Termination of Employment means that the Executive ceases to be employed by the Company for any reason, voluntary or involuntary, other than by reason of a leave of absence approved by the Company.

  • Change in Control Benefits means the following benefits:

  • Disability retirement for plan 1 members, means the period

  • Qualifying Termination means a termination of the Executive’s employment either (i) by a Company Group member without Cause (excluding by reason of Executive’s death or Disability) or (ii) by the Executive for Good Reason, in either case, during the Change in Control Period (a “Qualifying CIC Termination”) or outside of the Change in Control Period (a “Qualifying Non-CIC Termination”).

  • Constructive Termination Without Cause means the termination of the Executive’s employment at his initiative after, without the Executive’s prior written consent, one or more of the following events:

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Disability Termination means termination by the Company of the Executive’s employment by reason of the Executive’s incapacitation due to disability. The Executive will be deemed to be incapacitated due to disability if at the end of any month the Executive is unable to perform substantially all of the Executive’s duties under this Agreement in the normal and regular manner due to illness, injury or mental or physical incapacity, and has been unable so to perform for either (i) three consecutive full calendar months then ending, or (ii) 90 or more of the normal working days during the 12 consecutive full calendar months then ending. Nothing in this paragraph alters the Company’s obligations under applicable law, which may, in certain circumstances, result in the suspension or alteration of the foregoing time periods.

  • Normal Retirement means retirement from active employment with the Company or any Subsidiary on or after age 65.

  • Qualifying Retirement means the Employee’s voluntary termination of employment after the Employee has (i) attained (X) age sixty-five (65), (Y) age fifty-five (55) with ten (10) Years of Service as a full-time employee of the Partnership or any of its Affiliates, or (Z) an age which, when added to such Years of Service of the Employee equals at least seventy-five (75), and (ii) previously delivered a written notice of retirement to the Partnership and on the date of retirement the Employee has satisfied the minimum applicable advance written notice requirement set forth below: Age at Voluntary Termination Number of Years of Advance Notice 58 or younger 59 60 or older 3 years 2 years 1 year By way of illustration, and without limiting the foregoing, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee later terminates employment at age fifty-nine (59), then the Employee’s retirement at age fifty-nine (59) would not constitute a Qualifying Retirement. However, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee terminates employment upon reaching age sixty (60), then the Employee’s retirement at age sixty (60) would constitute a Qualifying Retirement.

  • Compensation Accrued at Termination means the following:

  • Change in Control Termination means an “Involuntary Termination Without Cause” or “Resignation for Good Reason,” either of which occurs on, or within three (3) months prior to, or within twelve (12) months following, the effective date of a Change in Control, provided that any such termination is a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h). Death and disability shall not be deemed Change in Control Terminations.

  • CIC Qualifying Termination means a Separation (A) within twelve (12) months following a Change in Control or (B) within three (3) months preceding a Change in Control (but as to part (B), only if the Separation occurs after a Potential Change in Control) resulting, in either case (A) or (B), from (i) the Company terminating the Executive’s employment for any reason other than Cause or (ii) the Executive resigning his or her employment for Good Reason. A termination or resignation due to the Executive’s death or disability shall not constitute a CIC Qualifying Termination. A “Potential Change in Control” means the date of execution of a legally binding and definitive agreement for a corporate transaction which, if consummated, would constitute the applicable Change in Control (which for the avoidance of doubt, would include, for example, a merger agreement, but not a term sheet for a merger agreement). In the case of a termination following a Potential Change in Control and before a Change in Control, solely for purposes of benefits under this Agreement, the date of Separation will be deemed the date the Change in Control is consummated.