Definitions Clause Example from Business Contracts

Definitions. For purposes of these Grant Conditions and the Grant Letter: (a) "Cause" shall mean any of the following, as determined in the sole discretion of the Employer: (1) commission of a felony or a crime involving moral turpitude; (2) fraud, dishonesty, misrepresentation, theft or misappropriation of funds with respect to the Employer; (3) violation of the Employer's Code of Conduct or employment policies, as in effect from time to time; (4) breach of any written noncompetition, confidentiality or non...solicitation covenant of the Grantee with respect to the Employer; or (5) gross negligence or misconduct in the performance of the Grantee's duties with the Employer. (b) "Involuntary Termination" shall mean the Employer's termination of the Grantee's employment other than for Cause. (c) "Long-Term Disability" shall mean the Grantee is receiving long-term disability benefits under the Employer's long-term disability plan. (d) ""55 / 5" Rule Termination" shall mean the Grantee's termination of employment other than for Cause after the Grantee has attained age 55 and has completed five years of service with the Employer. View More