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Good Leaver – Key Words & Phrases | Sklover Working Wisdom
What is the meaning of: "GOOD LEAVER"? "Good Leaver" is a phrase most commonly used by employers headquartered or doing business primarily outside the U.S. It is most often used in relation to incentive compensation, equity compensation and deferred compensation Plans. Being considered a "Good Leaver" means just what it sounds like: when you "left" you did so in a "good" way, from the employer's point of view. What does that mean? Generally, these four things, but each Plan may be different: (i) You did not resign, or if you did, you gave the amount of notice required; (ii) To the employer's knowledge you never engaged in "bad acts" at work; (iii) Upon leaving, you did not violate any non-competition, repayment or other obligation; (iv) If you departed the employer due to retirement, disability, or death, you are generally considered a Good Leaver. What are the consequences of being either a "Good