Eligible Termination means the involuntary termination of Participant’s employment without Cause, provided that at the time of such termination Participant is a Senior Officer and has completed at least ten (10) years of service as a Senior Officer.
Eligible Termination means either (i) a Termination Without Cause by the Company, or (ii) a Resignation With Good Reason by the Employee.
Eligible Termination means an Employee’s involuntary termination of employment with a Participating Company due to (i) the closing of an office or business location, (ii) a reduction in force, (iii) a downsizing, (iv) the restructuring, reorganization or reengineering of a business group, unit or department, or (v) a job elimination; provided, however, that a termination of employment with a Participating Company for any of the following reasons shall not constitute an Eligible Termination:
Examples of Eligible Termination in a sentence
Notwithstanding the foregoing, if as of the Executive’s Eligible Termination the Company’s material weakness in its control over financial reporting identified as of December 31, 2022 has not been remediated, then the Committee, in its sole discretion, shall have the right to reduce the number of Stock Price Hurdle PSUs vesting on the Termination Date by 20%, and the shares of common stock of the PSU relating to such reduction that would have otherwise vested shall be forfeited.
Upon an Eligible Termination, the Company shall pay the Executive in a lump sum on the 60th day after the Termination Date (the “Payment Date”) an amount equal to three (3) months of the Executive’s annual base salary from the Company and its subsidiaries to the extent not theretofore paid.
Upon an Eligible Termination that is not a Change in Control Termination, the vesting and exercisability of the Executive’s Covered Equity-Based Awards shall be accelerated to the extent provided in Exhibit 1.
More Definitions of Eligible Termination
Eligible Termination means a termination (not involving death, Disability, Retirement or Cause); pursuant to a notice of termination delivered to the Participant by the Corporation or pursuant to a request that the Participant submit a resignation as an employee.
Eligible Termination means Employee is no longer employed by the Company or one of its Affiliates due to: (a) a material diminution of Employee’s authority, duties, reporting relationship, or base compensation, or relocation of Employee’s office by more than 50 miles, provided that Employee has given the Company notice and 30 days to cure such diminution or relocation, which notice must be given within 90 days of the effective date of the diminution or of the Company’s notice to Employee of relocation; (b) an involuntary termination of Employee’s employment with the Company due to death or Disability; or (c) the Company or an Affiliate's termination of Employee without Cause.
Eligible Termination shall have the meanings as defined in the Retirement Plan.
Eligible Termination means (a) an involuntary termination of employment with a Participating Company by reason of a reduction in force program, job elimination or unsatisfactory performance in the execution of an Eligible Employee's duties or (b) a resignation mutually agreed to in writing by the Participating Company and the Eligible Employee. Notwithstanding the foregoing, an Eligible Termination shall not include (w) a unilateral resignation, (x) a termination by a Participating Company for Cause, (y) a termination as a result of a sale (whether in whole or in part, of stock or assets), merger or other combination, spinoff, reorganization or liquidation, dissolution or other winding up or other similar transaction involving a Participating Company; or (z) any termination where an offer of employment is made to the Eligible Employee of a comparable position at a Participating Company concurrently with his or her Eligible Termination.
Eligible Termination means (a) an involuntary termination of employment with the Company by reason of a reduction in force program, job elimination or unsatisfactory performance in the execution of an Eligible Employee's duties or (b) a resignation mutually agreed to in writing by the Company and the Eligible Employee. Notwithstanding the foregoing, an Eligible Termination shall not include (w) a unilateral resignation, (x) a termination by the Company for Cause, (y) a termination as a result of a sale (whether in whole or in part, of stock or assets), merger or other combination, spinoff, reorganization or liquidation, dissolution or other winding up or other similar transactions involving the Company; provided however, that a termination of employment as a result of a Change in Control and during the Change in Control Period shall not be covered by this clause (y), or (z) any termination where an offer of employment is made to the Eligible Employee of a comparable position at the Company or, if such termination occurs within six months following the effective date of this Plan (as set forth in Section 5.8 hereof), at Cognizant or Dun & Bradstreet, in any case concurrently with his or her termination.
Eligible Termination means the termination of an Associate's employment with the Company or a Subsidiary, other than on account of death, Disability or Retirement, (i) by him or her for Good Reason or (ii) by the Company or a Subsidiary other than for Cause (or other than at a time when Cause existed).
Eligible Termination shall have the meaning as defined in the CIT Group Inc. Retirement Plan, effective January 1, 2007, as amended from time to time (the “Retirement Plan”). A “Non-RIF Termination” shall have the meaning attributed to it in the Company’s Employee Severance Plan, as amended from time to time (the “Employee Severance Plan”). The definitions of Retirement, Normal Retirement Age, Period of Benefit Service, Eligible Termination and Non-RIF Termination are applicable irrespective of whether the Participant is eligible to participate in the Retirement Plan and/or the Employee Severance Plan.