Non-Renewal definition

Non-Renewal shall have the meaning set forth in Paragraph 2(b) hereof.

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Non-Renewal means the decision of the Board of Trustees not to renew the appointment of a probationary academic employee for the succeeding three (3)-quarter appointments, excluding summer quarter and approved leaves of absence.

Non-Renewal means if the Company gives notice of non-renewal of this Agreement, as described in Section 1 above, and offers Employee a new or amended written employment agreement that is not on substantially the same or better terms as this Agreement. In the event of a termination by the Company Without Substantial Cause, or by Employee for Good Reason or Non-Renewal, Employee shall be entitled to receive (i) any compensation accrued and unpaid as of the date of termination; (ii) a cash payment based on the annual incentive payment Employee would have received in the then-current year in light of the Company’s actual performance as measured against the requirements of the annual incentive plan, pro-rated to the date of Employee’s termination (the “Pro-Rata Incentive Plan Payment”); and (iii) the vesting of all unvested long-term incentive compensation awards (e.g., SARs, stock options, and other long-term equity-based incentive awards) held by Employee that would have vested had Employee continued to perform services pursuant to this Agreement for a period of twelve (12) months from the date of termination; provided that any unvested long-term incentive compensation awards that are subject to performance-based vesting will vest only if, and to the degree that, the performance goals are satisfied. The payment of the benefits described in (i) of this subsection as well as any vested time-based long-term incentive compensation awards described in (iii) of this subsection shall be made as soon as administratively practicable following the date of termination. The payment of any benefits described in (ii) of this subsection as well as any performance-based long-term incentive compensation awards described in (iii) of this subsection shall be paid after the completion of the relevant performance period and the evaluation of whether, and the degree to which, the performance criteria have been met. In addition to the foregoing and subject to the provisions thereof, Employee shall be eligible to receive Special Severance as described in Subsection 7(b) and Incentive Payments as described in Subsection 7(c).

Examples of Non-Renewal in a sentence

Employee shall then have the option, for forty-five (45) days following expiration of the Agreement, to notify the Company, in writing, of Employee’s intent to terminate Employee’s employment for Non-Renewal.
At least sixty (60) days prior to the expiration of this Agreement, the Company shall notify Employee in writing of Non-Renewal, as defined above.
Within thirty (30) days of delivery of the written notice of Non-Renewal, the Company shall provide Employee with a new or amended employment agreement or inform Employee in writing that it does not intend to offer Employee a new employment agreement.
Subject to the performance of its obligations under Sections 8(f) and 8(g), the Company shall have no further obligations to the Executive under this Agreement in respect of any termination by the Executive for Good Reason or by the Company (A) by giving a Non-Renewal Notice or (B) other than for Cause or Disability, except to the extent expressly provided under Sections 12 or 14 hereof or under any of the plans referred to in Sections 6(c) or 6(d) hereof.
At any time during the Employment Period, the Executive’s employment may be terminated at the end of the Employment Period by the Company giving a Non-Renewal Notice, which the Company shall be entitled to do at any time in accordance with Section 4.

More Definitions of Non-Renewal

Non-Renewal means the decision of the Board of Trustees not to renew the contract of a probationary faculty member for the succeeding academic year.

Non-Renewal is defined in Section 2 above.

Non-Renewal means an act by the Board not to issue a contract for the ensuing school year to a probationary employee. A non-renewal does not constitute discharge.

Non-Renewal means an action by the Board to discontinue the employment of a non-tenure employee during the probationary period, which action is not subject to grievance or arbitration.

Non-Renewal shall have the meaning set forth in Section 2.

Non-Renewal means the decision of the Board of Trustees not to renew the appointment of a probationary academic employee for the succeeding three (3) -quarter appointments, excluding summer quarter and approved leaves of absence.

Non-Renewal shall have the meaning set forth in Section 6(f) of the Employment Agreement.