RIF Termination definition

RIF Termination means the Participant’s Separation from Service, initiated by the Company, as a result of a reduction in force, corporate downsizing, change in operations, permanent and complete facility relocation or closing, or other similar job elimination.

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RIF Termination means (i) termination of an Optionee's employment by the Group as a result of a reduction in force, facility relocation or closing, or other Company program for job elimination, in each case that results in the termination of a significantly large number of employees, or (ii) termination within 135 days prior to a Change of Control if the Optionee can demonstrate that such termination (a) was at the request of a third party with which the Company had entered into negotiations or provided for in an agreement with regard to such Change of Control or (c) otherwise occurred in connection with, or in anticipation of, such Change of Control; and provided further that, in the case of either (i) or (ii) above, such Change of Control actually occurs.

RIF Termination means the termination of a Participant's employment as a result of a reduction in force, corporate downsizing, change in operations, permanent and complete facility relocation or closing, or other similar job elimination, and (ii) "Disability" shall have the meaning ascribed thereto under the Company's long-term disability plan or policy applicable to the Participant, as in effect from time to time, or, in the event the Company has no long-term disability plan or policy, "Disability" shall have the same meaning as defined in the Company's applicable long-term disability plan or policy last in effect prior to the first date a Participant suffers from such Disability.

Examples of RIF Termination in a sentence

• For example, if your Equity Award vests upon conclusion of your service for a three-year period and your RIF Termination occurs after you have completed one year of such service, you shall accelerate vesting and exercisability as to one-third of such Equity Award.

• The vesting and exercisability (if applicable) of each unvested Equity Award that you hold that is subject to vesting over time shall be accelerated to the extent necessary to give effect to the period of time you remained continuously employed with the Company prior to your RIF Termination during the full duration of vesting period of such Equity Award.

• If you incur a RIF Termination, you shall receive the Severance Benefits set forth in this Section 3.

• If you incur an Involuntary Termination or a RIF Termination, in either case that does not occur within the Change in Control Period, you shall receive the Severance Benefits set forth in this Section 2.

• For purposes of this Award Agreement, a "RIF Termination" shall mean the termination of a Participant's employment as a result of a reduction in force, corporate downsizing, change in operations, permanent and complete facility relocation or closing, or other similar job elimination.

More Definitions of RIF Termination

RIF Termination means a termination of Participant’s service with the Company that is (1) due to a termination by the Company (or Parent, if applicable) without Cause (and other than as a result of the Participant’s death or Disability) and (2) in connection with or as a consequence of a reduction-in-force, a determination of redundancy, a reorganization, a restructuring or other corporate operational or financial decision not based primarily on job performance or conduct. A Participant who declines an offer to be transferred to a position with the Company or a member of the Company Group with substantially the same pay and benefits and which would not give rise to the Participant’s right to a Resignation for Good Reason shall not be considered to have suffered a RIF Termination, unless otherwise determined by the Plan Administrator, in its sole discretion.

RIF Termination means the termination of a Participant's employment (i) by the Company as a result of a reduction in force, change in operations, facility relocation or closing, or other job elimination, whether or not related to a Change in Control, or (ii) pursuant to a Qualifying Termination. (s) "Subsidiary" means (i) any person that is directly or indirectly controlled by the Company or (ii) any

RIF Termination means the termination of a Participant's employment by the Company Group as a result of a reduction in force, corporate

RIF Termination means the termination of a Participant's employment by the Company Group as a result of a reduction in force, corporate down-sizing, change in operations, permanent facility relocation or closing, or other job elimination and (ii) "Retirement" means either (x) a Participant's election to retire upon attaining his or her "Normal Retirement Age"; or (y) a Participant's election to retire upon (A) completing at least a 10-year "Period of Benefit Service" and (B) having either (1) attained age 55, or (2) incurred an "Eligible Termination" and, at the time of such "Eligible Termination," having attained age 54. The terms "Normal Retirement Age," "Period of Benefit Service," and "Eligible Termination," shall have the meanings as defined in the CIT Group Inc. Retirement Plan effective January 1, 2001 (the "Retirement Plan"). The definition of "Retirement" is applicable irrespective of whether the Participant is eligible to participate in the Retirement Plan.