Voluntary Resignation Date definition

Voluntary Resignation Date means the date on which the Optionee ceases employment with the Company for voluntary reasons. Voluntary Resignation Date shall not include the date on which the Optionee ceases to be employed by the Company due to death or a Disability.
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Voluntary Resignation Date set forth in Section 1 are hereby amended to read in their entirety as follows: "Cause" for termination is the commission of a material act of fraud, theft or dishonesty against the Company; conviction for any felony; or willful non-performance of material duties which is not cured within sixty (60) days after receipt of written notice to the Optionee from the Board of Directors. The Optionee shall be deemed to have been terminated without Cause if (i) there is a significant diminution of his employment duties or compensation, (ii) he is removed as the Chief Executive Officer of the Company or (iii) the Company materially breaches the Employment Agreement; in addition if, as a result of one or more related transactions, the majority of the capital stock of the Company or substantially all of its assets are purchased by, or the Company is merged with, another company, entity or person, the Optionee shall be deemed to have been terminated without Cause, if, after such transactions, there is a material reduction in the Optionee's responsibility for, and authority over, the same internal functions of the Company's business as he had prior to such transactions, a reduction in the base salary of the Optionee or the Optionee is required to relocate his place of employment to a location that is more than thirty-five (35) miles from the location of the Company's headquarters at the time of such transactions."
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Examples of Voluntary Resignation Date in a sentence

  • In the event of an Initial Public Offering, ----------------------- the Options shall expire as of the Voluntary Resignation Date or the date on which the Optionee ceases to be employed by the Company for Cause.

  • If a Voluntary Notice Date occurs less than twelve (12) months prior to a Voluntary Resignation Date, the Note, together with any accrued interest thereon, shall be immediately payable upon the earlier of the due date of the Note or the Voluntary Resignation Date.

  • If a Voluntary Resignation Date occurs without the Optionee providing the Company with twelve (12) months prior notice of his or her intention to resign, the Note, together with any accrued interest thereon, shall be immediately payable upon the earlier of the due date of the Note or the Voluntary Resignation Date.

  • If a Voluntary Resignation Date occurs without the Optionee providing the Company with three (3) months prior notice of his or her intention to resign, the Note, together with any accrued interest thereon, shall be immediately payable upon the earlier of the due date of the Note or the Voluntary Resignation Date.

  • Prior to an Initial Public ------------------------------------- Offering, (i) the Options shall expire on the Voluntary Resignation Date provided that the Optionee resigns without providing the Company with three (3) months prior notice; or (ii) the Options that are Non-Vested Options on the Voluntary Resignation Date shall expire on the Voluntary Resignation Date provided that the Voluntary Resignation Date occurs prior to the Exercisability Date.

  • Prior to an Initial Public ------------------------------------- Offering, (i) the Options shall all expire on the Voluntary Resignation Date if the Optionee resigns without providing the Company with twelve (12) months prior notice; or (ii) as of a Voluntary Resignation Date, the Options that are Non- Vested Options as of the Voluntary Resignation Date shall all expire as of such Voluntary Resignation Date.

  • If a Voluntary Notice Date occurs less than three (3) months prior to a Voluntary Resignation Date, the Note, together with any accrued interest thereon, shall be immediately payable upon the earlier of the due date of the Note or the Voluntary Resignation Date.

  • Prior to an Initial Public ------------------------------------- Offering, (i) the Options shall expire on the Voluntary Resignation Date if the Optionee resigns without providing the Company with twelve (12) months prior notice; or (ii) as of a Voluntary Resignation Date, the Options that are Non- Vested Options as of the Voluntary Resignation Date shall expire as of such Voluntary Resignation Date.

  • If a Voluntary Notice Date occurs at least ten (10) months prior to a Voluntary Resignation Date, the Employee shall forfeit his or her right to any portion of the Equity Value Amount payable after the Voluntary Resignation Date.

  • If Optionee is still employed by the Company on March 31, 1998, Optionee will not forfeit the right to the Initial Payment due to resignation or termination after that date, provided a Voluntary Resignation Date does not occur without the Optionee providing the Company with at least ten (10) months prior notice of his or her intention to resign.