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.
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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.
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Examples of RIF Termination in a sentence

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

  • 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.

  • 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.

  • If a Participant accepts a transfer to a position within the Company or any Subsidiary within the notification period of Section 8, such Participant will not be treated as being terminated pursuant to an RIF Termination or Other Eligible Termination.

  • The Company will provide Participants with reasonable outplacement services commensurate with such Participant's position in the event of an RIF Termination or an Other Eligible Termination.

  • All Severance payments due under the Plan (whether related to an RIF Termination or an Other Eligible Termination) shall be in addition to any other amounts payable under any other plan of the Company, but shall be reduced by the present value of any severance payments required to be paid to a member whose work location is outside the United States pursuant to any non-U.S. statute, regulation, law or plan.

  • 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.

  • Except as otherwise provided in this Section 3.3, an Employee who experiences a Termination of Employment that is not a Qualifying Performance Termination or Qualifying RIF Termination (a “Nonqualifying Termination”) shall not be entitled to Severance Benefits or Supplemental Severance Benefits under this Plan.

  • Each notice of termination under the Plan shall specify the category of such termination (i.e., an RIF Termination or an Other Eligible Termination) and shall be provided (by mail, hand delivery or 8 EXHIBIT 10(e) FORM 10-Q for the Quarter Ended September 30, 1996 facsimile) to the Participant at his last known address in the Company's records or at his place of employment or to the Company at its corporate headquarters (attention Head of Human Resources), as the case may be.

  • Each Participant who is entitled to a Severance Payment in connection with an RIF Termination, other than a Qualifying Termination pursuant to Section l(n)(ii), shall receive written notice of termination from the Company at least ninety (90) days prior to the Participant's Date of Termination.


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.
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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.
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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
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Related to RIF Termination

  • Employment Termination means the effective date of: (i) Executive’s voluntary termination of employment with the Company with Good Reason, or (ii) the termination of Executive’s employment by the Company without Good Cause.

  • Employment Termination Date means, with respect to a Participant, the first day upon which the Participant no longer has an employment or service relationship with the Company or any Related Company.

  • Event of Termination has the meaning specified in Section 7.01.

  • Without Cause Termination or “Terminated Without Cause” means termination of the Executive’s employment by the Company other than due to death, disability, or Termination for Cause.

  • Effective Date of Termination means the date on which a Qualifying Termination occurs which triggers the payment of Severance Benefits hereunder.

  • Termination or “Terminated” means, for purposes of this Plan with respect to a Participant, that the Participant has for any reason ceased to provide services as an employee, officer, director, consultant, independent contractor or advisor to the Company or a Parent or Subsidiary of the Company. An employee will not be deemed to have ceased to provide services in the case of (i) sick leave, (ii) military leave, or (iii) any other leave of absence approved by the Committee; provided, that such leave is for a period of not more than 90 days, unless reemployment upon the expiration of such leave is guaranteed by contract or statute or unless provided otherwise pursuant to formal policy adopted from time to time by the Company and issued and promulgated to employees in writing. In the case of any employee on an approved leave of absence, the Committee may make such provisions respecting suspension of vesting of the Award while on leave from the employ of the Company or a Parent or Subsidiary of the Company as it may deem appropriate, except that in no event may an Award be exercised after the expiration of the term set forth in the applicable Award Agreement. The Committee will have sole discretion to determine whether a Participant has ceased to provide services and the effective date on which the Participant ceased to provide services (the “Termination Date”).

  • Date of Termination means the date of receipt of the Notice of Termination or any later date specified therein, as the case may be; provided, however, that (i) if the Executive's employment is terminated by the Company other than for Cause or Disability, the Date of Termination shall be the date on which the Company notifies the Executive of such termination and (ii) if the Executive's employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Executive or the Disability Effective Date, as the case may be.

  • Normal Termination means termination of employment or service with the Company and Affiliates:

  • Notice of Termination for Good Reason shall have the meaning set forth in Section 1(t).

  • 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.

  • 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.

  • Termination for Cause or "Cause" shall mean personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule or regulation (other than traffic violations or similar offenses), or final cease and desist order, or any material breach of this Agreement, in such case as measured against standards generally prevailing at the relevant time in the savings and community banking industry. For purposes of this Section, no act, or the failure to act, on the Executive's part shall be "willful" unless done, or omitted to be done, in bad faith and without reasonable belief that the action or omission was in the best interest of the Bank or its affiliates. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or based upon the written advice of counsel for the Bank shall be conclusively presumed to be done, or omitted to be done, by the Executive in good faith and in the best interests of the Bank. Notwithstanding the foregoing, the Executive shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to him a Notice of Termination which shall include a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths of the members of the Board at a meeting of the Board called and held for that purpose (after reasonable notice to the Executive and an opportunity for him, together with counsel, to be heard before the Board), finding that in the good faith opinion of the Board, the Executive was guilty of conduct justifying Termination for Cause and specifying the particulars thereof in detail. The Executive shall not have the right to receive compensation or other benefits for any period after Termination for Cause.

  • Notice of Termination means a written notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive's employment under the provision so indicated.

  • 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 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.

  • Service Termination Date means the last Day in a month upon which Service shall terminate, as set forth in a Schedule of Service and subject to any renewal thereof.

  • Termination for Just Cause means termination because of Executive’s personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or material breach of any provision of this Agreement.

  • Automatic Termination shall have the meaning set forth in Section 2.3.2.

  • Event Termination Date See Section 2(e) hereof.

  • 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.

  • Initial Termination Date has the meaning set forth in Section 9.1(b)(i).

  • Effective Termination Date has the meaning set forth in Section 10(b) hereof.

  • Post-Termination Period means a period of 12 months (subject to extension as set forth in Section 8(f)) following the effective date of the termination of Executive’s employment.

  • Outside Termination Date shall have the meaning set forth in Section 8.01(f).

  • 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:

  • 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: