Non-Renewal Termination definition

Non-Renewal Termination means a termination of Participant’s employment by the Corporation due to the delivery by the Corporation of a notice of non-renewal of his employment agreement.
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Non-Renewal Termination means the termination of the Employee's employment on January 1, 1998 if prior thereto the Employer has not offered to continue such employment for a period of not less than two years at a salary of not less than $265,000 per year and with benefits comparable to those provided for in Paragraphs 6.1, 6.2, 6.3, 6.4 and 6.5.
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Examples of Non-Renewal Termination in a sentence

  • Any termination of the Executive’s employment by the Company or by the Executive during the Term of Employment (other than as a result of the death of the Executive or a Non-Renewal Termination described in Section 6(g)) shall be communicated by written notice of termination to the other party hereto.

  • For the avoidance of doubt, if a Non-Renewal Termination occurs on or within one (1) year after the consummation of a Change in Control of the Company, the Severance Multiple shall equal two (2).

  • Any termination of the employment of the Employee hereunder other than as a result of an Involuntary Termination, a Termination for Cause, a Termination without Cause, a Termination for Good Reason (as defined below) or a Non-Renewal Termination (as defined below) will be referred to hereinafter as a “Voluntary Termination”.

  • Foodmark counters that the Non-Renewal Termination Fee would not be a penalty clause under Massachusetts law.

  • Ct. 1998) (“A term fixing unreasonably large liquidated damages is unenforceable on grounds of public policy as a penalty.” (quoting Restatement (Second) of Contracts§ 356)), I do not find any substantial Massachusetts public policy reason that its law must control the interpretation or enforceability of the Non-Renewal Termination Fee.This is not a situation in which Massachusetts has an interest in protecting those who do business in the state from the impact of divergent foreign law.

  • As discussed above, the Non-Renewal Termination Fee amounts to no more than 10% of annualized net invoice sales - the equivalent of no more than one and one half months of projected sales.

  • Nevertheless, since both are implicated, I provide the following analysis to frame the issues.Alasko argues that if a Section 11 termination implicates the Non-Renewal Termination Fee, the contract will renew indefinitely and Alasko will have no way of ending the agreement without paying the fee.

  • For the avoidance of doubt, if a Non-Renewal Termination occurs on or within one (1) year after the consummation of a Change in Control of the Company, the Severance Multiple shall equal three (3).

  • But neither party has produced any evidence or argument to justify reducing the amount of the Non-Renewal Termination Fee based on Alasko’s partial performance.Nor is any reduction appropriate.

  • Therefore, the Non-Renewal Termination Fee is enforceable even if it disincentivizes termination in certain circumstances.

Related to Non-Renewal Termination

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

  • Normal Termination means termination of employment or service with the Company and Affiliates:

  • Automatic Renewal Term has the meaning set forth in Section 10(a) hereof.

  • Extended Termination Date has the meaning specified in Section 2.16(c).

  • Renewal Term has the meaning set forth in Section 2.

  • Initial Termination Date has the meaning set forth in Section 8.2(a).

  • Non-Renewal shall have the meaning set forth in Paragraph 2(b) hereof.

  • Non-Renewal Notice shall have the meaning set forth in Section 2.

  • Final Termination Date means the last date of the final year in which the Applicant is required to Maintain Viable Presence and as further identified in Section 2.3.E of this Agreement.

  • Lease Termination Date means the last day of the Lease Term.

  • Termination Period means the period of time beginning with a Change in Control and ending on the earlier to occur of:

  • Renewal Period “Buyer” and “Default” have the same meanings respectively as they have in the Water Agreement.

  • Optional Termination The termination of the trust created hereunder in connection with the purchase of the Mortgage Loans pursuant to Section 9.01(a) hereof.

  • Special Termination Notice means the Notice of Special Termination substantially in the form of Annex VII to this Agreement.

  • Automatic Termination shall have the meaning set forth in Section 2.3.2.

  • Additional Termination Event has the meaning specified in Section 5(b).

  • Post-Termination Period means a period of 12 months (subject to extension as set forth in Section 8(f)) following the effective date of the termination of Executive’s employment.

  • Initial Term has the meaning set forth in Section 7.1.

  • Extended Term shall have the meaning set forth in Section 2.

  • 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:

  • 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.

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

  • Renewal Terms means the renewal terms of a Property Schedule, each having a duration of one year and a term coextensive with Lessee's budget year.

  • Stated Termination Date means, with respect to the Revolving Credit Facility, March 4, 2027 and, with respect to any Extended Revolving Credit Facility, the maturity date set forth in the Extension Agreement related thereto.

  • Employment Termination means the effective date of: (i) Executive’s voluntary termination of employment with the Company with Good Reason, or (ii) the termination of Executive’s employment by the Company without Good Cause.

  • Outside Termination Date shall have the meaning set forth in Section 8.01(f).