Effective Date of Retirement. ▪ Normally be June 30 of the academic year in which notification occurs Targeted (One-Time) Retirement Incentive ▪ Temporary enhancement (one-time) to the terms and provisions introduced under New Article 24.6 ▪ Available only during the 2021/2022 and 2022/2023 academic years ▪ Incentive available as of date of ratification (one time incentive)
Effective Date of Retirement. As of July 8, 2005 (the “Transition Date”), Executive has resigned from his position as Executive Chairman of the Board (“Executive Chairman”) and acknowledges and agrees that he has relinquished all of the authority and responsibilities of such position. Executive also resigned from the Board of Directors of the Company (the “Board”), and his positions with any and all of the Company’s subsidiaries and affiliates, as well as any trade associations and similar memberships, effective as of the Transition Date; provided, however, that Executive shall remain an employee of Cadence until 11:59 p.m., California time, on July 31, 2005 (the “Termination Date”). On or after the Termination Date, Executive will (a) be paid promptly any earned but unpaid base salary, less applicable tax deductions and withholding; (b) not later than on or about August 18, 2005, be paid a bonus of 40% of Executive’s annual target bonus under Cadence’s Senior Executive Bonus Plan with respect to performance for the first half of 2005, to be calculated using the Company Performance Multiplier achieved by Cadence for the first half of 2005 and an Individual Performance Multiplier of 1.0, less applicable tax deductions and withholding; (c) have submitted, on or before September 1, 2005, any requests for expense reimbursement, which requests shall be processed and paid in accordance with the Company’s applicable expense reimbursement policy as currently in effect; and (d) be paid other unpaid vested amounts or benefits under the compensation, incentive and benefit plans of the Company in which Executive participates or for which Executive is eligible, whether as an employee of the Company or as a member of the Board, or under the Employment Agreement (as defined in Section 2(g) hereof), in each case in accordance with the terms of such compensation, incentive and benefit plans or the Employment Agreement. The payment of the foregoing amounts shall in any event be made to Executive on or before the date required by applicable law. As of the first day of the month following the Termination Date, except as otherwise expressly provided herein, Executive will no longer participate in Cadence’s employee benefit plans and will not be eligible for a bonus for any services rendered after that date, except as expressly provided herein.
Effective Date of Retirement. Your last day of employment with Ambac (the “Retirement Date”) will be the earlier of (i) June 30, 2005, or (ii) thirty days following the date you provide written notice of retirement to Ambac’s CEO. If no notice is given under clause (ii) of the previous sentence, your retirement shall be automatically effective at 5:00 p.m. (New York City Time) on the date specified in clause (i) of the previous sentence without any further action by either party. In the event that Ambac desires to terminate your employment for any reason whatsoever prior to (i) or (ii), above, it shall provide you with written notice of such intention at least 20 work days in advance of its intended date of termination in order to allow you sufficient time and opportunity to retire in lieu thereof.
Effective Date of Retirement. Your employment with the Company will terminate effective as of April 1, 2003 (the “Retirement Date”). As part of this Agreement, the Company’s Board of Directors invites you to stand for election as a director at the Company’s Annual Meeting to be held in May 2003 and to receive the same compensation for your services as other non-employee board members. You also hereby agree to resign as the Company’s Chairman of its Board of Directors at the Company’s Annual Meeting of Stockholders to be held in May 2003, or earlier if requested to do so by the Company’s Board of Directors, and to participate in the election of a successor Chairman.
Effective Date of Retirement. Unless agreed to in writing by the parties otherwise, the Effective Date of Retirement shall be 5:00 PM EST November 30th, 2011.
Effective Date of Retirement. Your last day of employment with Ambac (the “Retirement Date”) will be December 31, 2009.
Effective Date of Retirement. First (1st) day of the month following a faculty member's last contracted day of work as a tenured faculty member.
