Severance of Employment definition

Severance of Employment means (a) the termination of the Executive's employment with the Corporation within two (2) years after the date of a Change in Control by (i) discharge by the Corporation or (ii) resignation of the Executive following a Constructive Discharge, or (b) the termination of the Executive's employment with the Corporation by resignation of the Executive within the thirty (30) day period immediately following the first anniversary of a Change in Control. Despite the foregoing, neither of the following will constitute a Severance of Employment:

Severance of Employment means a participant has ceased rendering services as an employee or an independent contractor of a plan sponsor for a minimum of 30 consecutive days, including services as a temporary employee, and has no intention to return to work for the plan sponsor.

Severance of Employment means termination of the contract of employment by an employee under section 7(a) or (c) (ii);

Examples of Severance of Employment in a sentence

• The substance of decisions to terminate by a non-renewal, a reduction in force, or a for adequate cause termination of disciplinary action shall not be subject to the grievance procedure described in this Agreement except to ensure that there has been appropriate compliance with the Severance of Employment procedures described above.

• A Participant's Vested benefit shall not include (1) qualified voluntary employee contributions within the meaning of Code §72(o)(5)(B) and (2) if selected in the Conditions for Distributions Upon Severance of Employment Section of the Adoption Agreement, the Participant's Rollover Account.

• Includible Compensation does not include any Compensation received during a period when the Employer is not an Eligible Employer or any Compensation, other than Post-Severance Compensation, paid after Severance of Employment.

• For purposes of this Subsection, the Participant's Accounts shall not include, if selected in the Conditions for Distributions Upon Severance of Employment Section of the Adoption Agreement, the Participant's Rollover Account.

• If a Participant has a separate account attributable to rollover contributions under the Plan, the Participant before Severance of Employment may at any time elect to receive an inservice distribution of all or any portion of the amount held in the rollover separate account.

More Definitions of Severance of Employment

Severance of Employment means a Participant whose resignation has been requested by an executive or officer of the Employer under threat of discharge due to reorganization, change of control, or merger of the Company as designated by the Company.

Severance of Employment as used herein, shall mean the termination of the Executive’s employment with the Parent Corporation and the Corporation (i) by discharge by the Parent Corporation or the Corporation on or within two (2) years after the date of a Change in Corporate Control; (ii) by resignation of the Executive on or after, but less than one hundred eighty (180) days after, the date of a Change in Corporate Control due to the occurrence of either a material diminution in the Executive’s base compensation or a material diminution in the Executive’s authority, duties, or responsibilities, without the Executive’s written consent (each a “Good Reason Condition”); or (iii) by resignation of the Executive at any time within the period commencing one hundred eighty (180) days after the date of a Change in Corporate Control and ending two (2) years after the date of such Change in Corporate Control. In order for a resignation due to a Good Reason Condition to constitute a Severance of Employment, the Executive must provide written notice to the Parent Corporation or the Corporation, as the case may be, of the existence of the Good Reason Condition within 90 days of the initial existence of such Good Reason Condition. Upon receipt of such notice of the Good Reason Condition, the Parent Corporation or the Corporation will be provided with a period of 30 days during which it may remedy the Good Reason Condition and not be required to provide for the payments and benefits described herein as a result of such proposed resignation due to the Good Reason Condition specified in the notice. If the Good Reason Condition is not remedied within the period specified in the preceding sentence, the Executive may resign based on the Good Reason Condition specified in the notice within the period specified in subsection (ii) above. Despite the foregoing, neither of the following will constitute a Severance of Employment:

Severance of Employment as used herein, shall mean the termination of the Executive's employment with the Corporation (i) by discharge by the Corporation on or within two (2) years after the date of a Change in Control, (ii) by resignation of the Executive on or after, but less than one hundred eighty (180) days after, the date of a change in Control, provided that such resignation was preceded by a material and detrimental alteration in the Executive's position, responsibilities, compensation or benefits from those in effect immediately prior to the Change in Control or (iii) by resignation of the Executive at any time within the period commencing one hundred eighty (180) days after the date of a Change in Control and ending two (2) years after the date of such Change in Control. Despite the foregoing, neither of the following will constitute a Severance of Employment:

Severance of Employment means the date that the Employee dies, retires, or otherwise has a severance from employment with the City and taking into account guidance issued under the Code.

Severance of Employment means Executivx'x xxxxxxxxxxx xx xxxxxxxxxxx xxxm all Positions effective as of October 2, 2001.

Severance of Employment means termination of the contract of employment by an employee under section 7 (a). or (c) (ii), [7 of 1999]

Severance of Employment means termination of the contract of employment by an employer under section 7 (a) or (c) ii of the Act.