Qualifying Termination definition
Examples of Qualifying Termination in a sentence
If your employment is terminated by the Company Group by reason of a Qualifying Termination prior to the occurrence of the Retention Date or a Restructuring Event, then you will be eligible to retain the Retention Bonus, which will no longer be subject to clawback.
Your Retention Bonus will become vested and no longer subject to the Company’s “clawback right” (described in Section 4 below) upon such date or, if earlier, the date of a Qualifying Termination (subject to Section 3 below) (as applicable, the “Vesting Date”).
If your employment with the Company Group terminates prior to the occurrence of the Retention Date or a Restructuring Event for any reason other than a Qualifying Termination, you hereby agree to repay to the Company the gross (pre-tax) amount of the Retention Bonus within fifteen days following the date of such termination.