Termination by Mutual Consent definition

Termination by Mutual Consent means an involuntary Separation From Service pursuant to which the Company agrees, in its sole discretion, that benefits are payable under this Plan.
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Termination by Mutual Consent in Anticipation of a Change in Control" shall mean Executive's termination of employment from the Company in anticipation of the consummation of a merger transaction, with the consent of all parties to the operative merger agreement."
Sample 1
Termination by Mutual Consent means an involuntary Separation From Service pursuant to which the Company agrees, in its sole discretion, that benefits are payable under this Plan. “Termination Date” means the date of the Participant’s Separation From Service (or scheduled date of Separation From Service, as applicable). “Weeks Compensation” means one fifty second (1/52) of a Participant’s Annual Compensation. “Year-of-Service” means each twelve-month period measured from the Participant’s first day of employment with an Employer, as reduced to reflect breaks in service and/or services performed during such period the Participant was otherwise ineligible to participate in the Plan, as determined under the rules promulgated by the Administrator. Service with a predecessor employer (that was not an Affiliated Employer) shall be recognized to the extent such service is recognized under The AES Corporation Retirement Savings Plan. Service shall also include services performed prior to the effective date of the Plan. In the event a Participant’s Separation From Service and the Participant is subsequently reemployed by the Employer, the Participant’s service for calculation of any severance benefits under Article IV of the Plan shall be based only upon the Participant’s service credited since the most recent starting date of employment with the Employer. ARTICLE II PARTICIPATION AND ELIGIBILITY 2.1 Eligibility. A Participant shall, upon execution of the release in the form specified in Article III of this Plan in the time and manner set forth in Section 3.1 of the Plan, be eligible for the severance benefits provided under Article IV of this Plan if the Participant’s Separation From Service is by reason of an Involuntary Termination or for Good Reason. A Participant who fails to execute the release in the time and manner set forth in Section 3.1 or who subsequently revokes execution of the release in accordance with its terms shall not be entitled to receive benefits under this Plan. A Participant who satisfies all of the terms and conditions specified in this Plan and who becomes entitled to receive benefits hereunder shall be referred to herein as a “Participant.” 2.2 Ineligible Employees. Notwithstanding any provision of this Plan to the contrary, the following Employees (“Ineligible Employees”) are not eligible to participate in the Plan: • Any Employee who has been hired to work on a part-time, seasonal or temporary basis or who is classified as a part-time, seasonal or temporary Employe...
Sample 1

Examples of Termination by Mutual Consent in a sentence

  • Default and Termination Termination by Mutual Consent: The Parties may terminate this Contract by mutual consent with 60 days notice to the other party, or as otherwise provided by law.

  • Mutual agreement of the parties hereto as set forth in section 4.04.4.04: Termination by Mutual Consent: Upon mutual written agreement by the Board and the employee this contract and the employment of the employee may be terminated without penalty or prejudice against either the Board or employee.

  • Termination by Mutual Consent Upon mutual written agreement by the Board and the Administrator, employment of the Administrator may be terminated without penalty or prejudice against either the Board or Administrator.

  • XXXXXX XXXXXXX, III ---------------------------- ------------------------------ O.

  • In addition, the City and/or the Board may terminate this Agreement in the following manners: (1) Termination by Mutual Consent pursuant to Section 10.2 and (2) Termination for Cause pursuant to Section 10.3.

  • You waive application of Section 1542 of the Civil Code of the State of California, or any similar statute or law of any other jurisdiction.

  • This Agreement shall be subject to discharge as follows: 3.2.a. Termination by Mutual Consent This Agreement may be terminated at any time by mutual consent of the parties.

  • Termination by Mutual Consent In the event the Tender Inviting Authority & Service Provider mutually agrees to the terminate the contract, either party shall give 30 days written notice to the other party and after the consent of both parties agreement may be terminated without any Legal or Financial Obligation on any Party to the contract.

  • Staff agree that AASB 1 paragraph D17 would only apply where a subsidiary complied with Australian Accounting Standards as currently drafted.

  • SECTION 7.1 Termination by Mutual Consent 46 SECTION 7.2 Termination by NAP or Parent 46 SECTION 7.3 Termination by NAP 47 SECTION 7.4 Termination by Parent 47 SECTION 7.5 Effect of Certain Terminations 47 SECTION 7.6 Expenses 48 SECTION 7.7 Survival 48 SECTION 7.8 Enforcement of this Agreement 48 SECTION 7.9 No Waiver Relating to Claims for Fraud/Willful Misconduct 48 ARTICLE VIII.


More Definitions of Termination by Mutual Consent

Termination by Mutual Consent means a termination of employment pursuant to which the Employer and Eligible Employee have agreed in writing that benefits are payable under this Plan.
Sample 1

Related to Termination by Mutual Consent

  • Termination With Cause means the termination of the Executive’s employment by act of the Board for any of the following reasons:

  • Termination for Convenience means the termination of the Trade Contract Agreement or the Trade Contractor Work by the Authority without cause and for the convenience of the Authority as decided in its sole discretion.

  • Termination Upon Change of Control shall not include any termination of the employment of the Executive (a) by the Company for Cause; (b) as a result of the Permanent Disability of the Executive; (c) as a result of the death of the Executive; or (d) as a result of the voluntary termination of employment by the Executive for reasons other than Good Reason.

  • Partial Termination has the meaning set forth in the Section 6.3(a).

  • Termination Sum means the percentage of the Tariff payable by the Client to the Service Provider pursuant to Clause 18.4 and as set out in Appendix B; and

  • 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.

  • 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.

  • Termination Upon a Change in Control means a termination of Officer’s employment with Corporation within 12 months following a “Change in Control” that constitutes a Termination Other Than For Cause described in Section 2.1(b).

  • Termination Without Cause means termination by the Company other than due to the Executive’s death or disability or Termination With Cause.

  • Constructive Termination Without Cause means the termination of the Executive’s employment at his initiative after, without the Executive’s prior written consent, one or more of the following events:

  • Termination for Cause" shall mean termination of the Executive's employment because of:

  • Constructive Termination means:

  • Termination Notice means the communication issued in accordance with this Agreement by one Party to the other Party terminating this Agreement;

  • 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.

  • 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.

  • Anticipatory Termination means a termination of employment where PNC terminates your employment with PNC (other than for Misconduct or Disability) prior to the date on which a Change of Control occurs, and you reasonably demonstrated that such termination of employment (i) was at the request of a third party that has taken steps reasonably calculated to effect a Change of Control or (ii) otherwise arose in connection with or in anticipation of a Change of Control.

  • Termination Other Than For Cause means termination by the Company of Employee's employment by the Company for reasons other than those which constitute Termination for Cause.

  • Early Termination Effective Date is defined in Section 4.2 of this Agreement.

  • Complete Termination means a termination of the Fund's Rule 12b-1 plan for B-2 Shares involving the cessation of payments of the Distribution Fees, and the cessation of payments of distribution fees pursuant to every other Rule 12b-1 plan of the Fund for every existing or future B-Class-of-Shares (as hereinafter defined) and the Fund's discontinuance of the offering of every existing or future B-Class-of-Shares, which conditions shall be deemed satisfied when they are first complied with hereafter and so long thereafter as they are complied with prior to the earlier of (i) the date upon which all of the B-2 Shares which are Distributor Shares pursuant to Schedule I hereto shall have been redeemed or converted or (ii) May 31, 2005. For purposes of this Section 14.5, the term B-Class-of-Shares means each of the B-1 Class of Shares of the Fund, the B-2 Class of Shares of the Fund and each other class of shares of the Fund hereafter issued which would be treated as Shares under Schedule I hereto or which has substantially similar economic characteristics to the B-1 or B-2 Classes of Shares taking into account the total sales charge, CDSC or other similar charges borne directly or indirectly by the holder of the shares of such class. The parties agree that the existing C Class of Shares of the Fund does not have substantially similar economic characteristics to the B-1 or B-2 Classes of Shares taking into account the total sales charge, CDSC or other similar charges borne directly or indirectly by the holder of such shares. For purposes of clarity the parties to this agreement hereby state that they intend that a new installment load class of shares which may be authorized by amendments to Rule 6(c)-10 under the 1940 Act will be considered to be a B-Class-of-Shares if it has economic characteristics substantially similar to the economic characteristics of the existing B-1 or B-2 Classes of Shares taking into account the total sale charge, CDSC or other similar charges borne directly or indirectly by the holder of such shares and will not be considered to be a B-Class-of-Shares if it has economic characteristics substantially similar to the economic characteristics of the existing C Class of shares of the Fund taking into account the total sales charge, CDSC or other similar charges borne directly or indirectly by the holder of such shares.

  • Non-significant effect means no substantial change to an environmental component and this no material bearing on the decision-making process.

  • Termination of parental rights means the permanent elimination of all parental rights and duties, including residual parental rights and duties, by court order.

  • Termination for Good Reason means a Termination of Employment by Executive for a Good Reason.

  • Potential Termination Event means an event which but for the lapse of time or the giving of notice, or both, would constitute a Termination Event.

  • 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:

  • In this award, unless the contrary intention appears:Act means the Fair Work Act 2009 (Cth)[Definition of agreement-based transitional instrument inserted by PR994486 from 01Jan10] agreement-based transitional instrument has the meaning in the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)award-based transitional instrument has the meaning in the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)[Definition of default fund employee inserted by PR546067 ppc 01Jan14] default fund employee means an employee who has no chosen fund within the meaning of the Superannuation Guarantee (Administration) Act 1992 (Cth)[Definition of defined benefit member inserted by PR546067 ppc 01Jan14] defined benefit member has the meaning given by the Superannuation Guarantee (Administration) Act 1992 (Cth)[Definition of Division 2B State award inserted by PR503736 ppc 01Jan11] Division 2B State award has the meaning in Schedule 3A of the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)[Definition of Division 2B State employment agreement inserted by PR503736 ppc 01Jan11] Division 2B State employment agreement has the meaning in Schedule 3A of theFair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)[Definition of employee substituted by PR997772 from 01Jan10] employee means national system employee within the meaning of the Act[Definition of employer substituted by PR997772 from 01Jan10] employer means national system employer within the meaning of the Actenterprise award-based instrument has the meaning in the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth) [Definition of exempt public sector superannuation scheme inserted by PR546067 ppc 01Jan14] exempt public sector superannuation scheme has the meaning given by theSuperannuation Industry (Supervision) Act 1993 (Cth)[Definition of MySuper product inserted by PR546067 ppc 01Jan14] MySuper product has the meaning given by the Superannuation Industry (Supervision) Act 1993 (Cth)NES means the National Employment Standards as contained in sections 59 to 131 of the Fair Work Act 2009 (Cth)[Definition of on-hire inserted by PR994486 from 01Jan10] on-hire means the on-hire of an employee by their employer to a client, where such employee works under the general guidance and instruction of the client or a representative of the clientstandard rate means the minimum weekly wage for a Storeworker grade 4 in clause 15.1steel distributing employee means an employee working for an employer at a site in or in connection with receiving, unloading, storing, packing, sorting, handling, cutting material to order, preparation for dispatch, loading and dispatch of steel or any similar materialstorage services and wholesale industry means the receiving, handling, storing, freezing, refrigerating, bottling, packing, preparation for sale, sorting, loading, dispatch, delivery, or sale by wholesale, of produce, goods or merchandise as well as activities and processes connected, incidental or ancillary[Definition of transitional minimum wage instrument inserted by PR994486 from 01Jan10] transitional minimum wage instrument has the meaning in the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)wholesale means the sale of commodities in large quantities other than to final consumers