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Cic Qualifying Termination
Cic Qualifying Termination contract clause examples
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Qualifying Retirement. If the Holder’s employment by the Company is terminated by reason of a “Qualifying Retirement” (as such term is defined in the Retirement Policy, effective as of February 6, 2013, as may be amended from time to time) and the Holder executes and does not revoke a Release, Non-Competition, Non-Solicitation and Confidentiality Agreement (the “Release”) within 30 days (or such later time as set forth in the Release at the time of Qualifying Retirement (but not to exceed 52 days)) after the date of Holder’s Qualifying Retirement, in a form satisfactory to the Company which shall include a two-year non-competition and non-solicitation period, fifty percent (50%) of the Shares subject to the Award that were not vested immediately prior to the Holder’s Qualifying Retirement shall vest as of the date on which the Holder’s release becomes irrevocable and the remainder of the Award shall continue to vest in accordance with the vesting schedule set forth in Section 3.1, assuming the Holder had remained employed with the Company through the Vesting Date. If the Holder does not execute the Release or timely revokes such Release, the portion of the Award which is not vested as of the date of the Holder’s Qualifying Retirement shall not vest and shall be forfeited by the Holder.

Qualifying Retirement. If such termination of employment is because of the Employee’s Qualifying Retirement while in the employ of the Company, then the continued employment requirement for the Employee shall cease to apply and the Share Payout as a Percentage of Target Award for the PSUs shall be determined as of the Maturity Date and paid in accordance with Section 2(a) above; provided, however, that the number of shares of Stock to be paid to the Employee shall be multiplied by a fraction, the numerator of which is the number of days elapsed from the Grant Date to the date of the Employee’s Qualifying Retirement, and the denominator of which is 1075.

The cash amounts provided for in this Section 3(b), shall be paid # within thirty (30) days after the Executive’s Termination Date if the termination is a Post CIC Termination; or # within thirty (30) days following a Change in Control if the termination is a Pre CIC Termination.

non-competition provisions no more restrictive than those set forth in Appendix C hereto (and limited to the one (1)-year period following the Qualifying Termination); provided that if the period for the Participant to provide and not revoke the Severance Agreement spans two (2) calendar years, any payment of Severance, CIC Severance or Pro-Rata Bonus payable under Section 4 shall, as applicable, commence or be paid in the second of such two (2) years. If the Severance Agreement is not executed and has not become irrevocable by the ninetieth (90th) day following the date of the Participant’s Qualifying Termination, no Plan benefits will be paid.

it has a fair market value at least equal to the fair market value of the CIC Adjusted PSUs established pursuant to Section 2(f)(2) as of the date of the Qualifying Change in Control,

Termination Date. [[Organization A:Organization]] date upon which Employee’s termination of employment with [[Organization A:Organization]] is effective is [[Organization A:Organization]]Termination Date.” For purposes of Sections 6.1 or 6.2 only, with respect to [[Organization A:Organization]] timing of [[Organization A:Organization]] Pre-CIC Severance Payments or [[Organization A:Organization]] Post-CIC Severance Payment (as applicable) and [[Organization A:Organization]] Pre-CIC Benefits Continuation Payments or [[Organization A:Organization]] Post-CIC Benefits Continuation Payments (as applicable), [[Organization A:Organization]] Termination Date means [[Organization A:Organization]] date on which a “separation from service” has occurred for purposes of Section 409A of [[Organization A:Organization]] Internal Revenue Code, as amended, and [[Organization A:Organization]] regulations and guidance thereunder ([[Organization A:Organization]]Code”).

CIC Health Care Continuation Benefit shall commence immediately upon the Executive’s Date of Termination and the Executive shall immediately become eligible for Reimbursement Payments in accordance with Section 5(a)(iv), provided however if an executed Separation Agreement and Release has not become fully effective within the CIC Release Period, the Company shall immediately cease making CIC Premium Reimbursement Payments (or, if applicable, any CIC Special Severance Payments) and the Executive shall be obligated to promptly repay [[Organization B:Organization]] any previously received CIC Premium Reimbursement Payments (or, if applicable, any CIC Special Severance Payments).

Qualifying Termination. A “Qualifying Termination” means an Officer’s termination of employment:

Notice of Termination.Notice of Termination” means an unconditional written statement of an authorized employee of the Company that the Officer’s employment is being involuntarily terminated by the Company. In the case of termination for Good Reason or Post-CIC Good Reason, Notice of Termination will be the date of the occurrence of the circumstance constituting Good Reason or Post-CIC Good Reason, as applicable.

The determination of whether the conditions of this Section 2(f)(3) are satisfied shall be made by the Committee, as constituted immediately prior to a Qualifying Change in Control, in its sole discretion, prior to such Change in Control. If a Replacement Award is provided, the CIC Adjusted PSUs shall not be settled upon a Qualifying Change in Control, but instead as provided under Section 2(f)(4) below.

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