Terminates Service definition

Terminates Service or “Termination of Service” means the cessation of service on the Board of Directors of the Company, either voluntarily or involuntarily, excluding Retirement, disability or death.
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Terminates Service means the date that the Purchaser is no longer providing services to the Company as an employee, consultant or director.
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Terminates Service or “Termination of Service” means a Participant’s voluntary or involuntary cessation of service on the Board of Directors of the Company, for any reason except Retirement, Disability or death.
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Examples of Terminates Service in a sentence

  • If the Participant Terminates Service due to death during the Performance Period, the performance requirements with respect to the Participant’s RTSR Performance Units shall lapse and, on the date of such Termination of Service, the Participant’s Beneficiary shall be fully entitled to payment in Shares with respect to such Performance Units, determined as if Target Performance had been achieved and the Performance Period ended on the date of the Participant’s death.

  • If the Participant Terminates Service due to death during the Performance Period, the performance requirements with respect to the Participant’s ROATCE Performance Units shall lapse and, on the date of such Termination of Service, the Participant’s Beneficiary shall be fully entitled to payment in Shares with respect to such Performance Units, determined as if Target Performance had been achieved and the Performance Period ended on the date of the Participant’s death.

  • The Repurchase Option may be exercised within the 30-day period immediately following the date that the Purchaser Terminates Service (the “Repurchase Period”).

  • The Vested part of a Participant's Account will be available for distribution to the Participant when the Participant retires at Normal (or Early) Retirement Age, dies, and, if elected in the Adoption Agreement, attains age 59-1/2 or Terminates Service.

  • If the Participant Terminates Service before the Participant reaches age 35, the Applicable Notice Period will be a reasonable period ending after the date the Participant Terminates Service.

  • If the value of the Vested part of the Participant's Account (excluding Deductible Contributions within the meaning of Code section 72(o)(5)(B)) does not exceed $3,500, then, if elected by the Employer in the Adoption Agreement, as soon as practicable after the Participant Terminates Service, the Plan Administrator will direct the Trustee to pay the Participant a single distribution that equals the value of the entire Vested Account balance.

  • If a Participant Terminates Service before satisfying the age requirement for Early Retirement Age, but has satisfied the Service requirement, if any, then the Participant shall be entitled to elect an early retirement benefit upon satisfaction of such age requirement.

  • Such installment distribution may not begin before the Member attains age 55 unless the Member Terminates Service on account of a Disability.

  • If the value of the Vested part of the Participant's Account (excluding Deductible Contributions) does not exceed $3,500, then, if elected by the Employer in the Adoption Agreement, as soon as practicable after the Participant Terminates Service, the Plan Administrator will direct the Trustee to pay the Participant a single distribution that equals the value of the entire Vested Account balance.

  • If the value of the Vested part of the Participant's Account, excluding Deductible Contributions, exceeds $3,500 (or at the time of any other distribution, exceeded $3,500), then distribution after the Participant Terminates Service will require the consent of the Participant.


More Definitions of Terminates Service

Terminates Service or “Termination of Service” means a complete termination of the service relationship between the Participant and all Employers.
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Terminates Service or "Termination of Service" means the cessation
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Terminates Service means “separation from service” (as such term is defined under Code Section 409A).
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Related to Terminates Service

  • Termination of Service means:

  • Continuous Service means that the Participant’s service with the Company or an Affiliate, whether as an Employee, Director or Consultant, is not interrupted or terminated. A change in the capacity in which the Participant renders service to the Company or an Affiliate as an Employee, Consultant or Director or a change in the entity for which the Participant renders such service, provided that there is no interruption or termination of the Participant’s service with the Company or an Affiliate, will not terminate a Participant’s Continuous Service; provided, however, that if the Entity for which a Participant is rendering services ceases to qualify as an Affiliate, as determined by the Board, in its sole discretion, such Participant’s Continuous Service will be considered to have terminated on the date such Entity ceases to qualify as an Affiliate. To the extent permitted by law, the Board or the chief executive officer of the Company, in that party’s sole discretion, may determine whether Continuous Service will be considered interrupted in the case of (i) any leave of absence approved by the Board or chief executive officer, including sick leave, military leave or any other personal leave, or (ii) transfers between the Company, an Affiliate, or their successors. Notwithstanding the foregoing, a leave of absence will be treated as Continuous Service for purposes of vesting in an Award only to such extent as may be provided in the Company’s leave of absence policy, in the written terms of any leave of absence agreement or policy applicable to the Participant, or as otherwise required by law.

  • SaaS Service means the SaaS Software as deployed and hosted by Licensor on the AWS Service infrastructure, any software and other technology provided or made accessible by Licensor that Buyer is required or has the option to use in order to access, receive and use the SaaS Software as hosted by Licensor, including any software or technology that Buyer is required or has the option to install, operate and use on Buyer’s systems for its use of the SaaS Software, and all related services, functions or responsibilities of Licensor inherent in, and necessary for, the proper performance of such software-as-a-service.

  • Continuous Service Status means the absence of any interruption or termination of service as an Employee or Consultant. Continuous Service Status as an Employee or Consultant shall not be considered interrupted in the case of: (i) sick leave; (ii) military leave; (iii) any other leave of absence approved by the Administrator, provided that such leave is for a period of not more than ninety (90) days, unless reemployment upon the expiration of such leave is guaranteed by contract or statute, or unless provided otherwise pursuant to Company policy adopted from time to time; or (iv) in the case of transfers between locations of the Company or between the Company, its Parents, Subsidiaries, Affiliates or their respective successors. A change in status from an Employee to a Consultant or from a Consultant to an Employee will not constitute an interruption of Continuous Service Status.

  • 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.