PIP Period definition

PIP Period means the period commencing on the date an Executive becomes subject to a Performance Improvement Plan (“PIP”), and ending after sixty continuous days of employment with InterMune, Inc. following the removal of that PIP.
View Source
PIP Period means the period beginning on the date hereof and ending on the earlier to occur of (i) the date the PIP Transaction is Terminated and (ii) the date that all of the Notes are redeemed in accordance with Section 10.2 of the Indenture.
View Source

Examples of PIP Period in a sentence

  • Executive shall not be eligible to earn any Suspended Payments if the effective date of either a voluntary resignation or termination for Cause occurs during a PIP Period.

  • Notwithstanding condition (b), Executive shall be eligible to earn any Retention Payments not earned because Executive was in a PIP Period (“Suspended Payments”) by remaining employed by InterMune, Inc.

  • Executive shall not be eligible to earn any Remaining Unearned Retention Payments or Suspended Payments in the event Executive dies before earning any Remaining Unearned Retention Payments or during a PIP Period.

  • If an employee does not demonstrate the required improvement by the end of the Extended PIP Period, M+R may terminate the employee.

  • No less than five (5) business days after the end of the PIP Period, M+R will notify the employee in writing that they either (i) have successfully passed the PIP Period by demonstrating the required improvement; or (ii) have not demonstrated sufficient improvement and will be subject to an extension of the PIP Period of no less than two (2) weeks (“Extended PIP Period”).