Must Be Employed Sample Clauses

The "Must Be Employed" clause requires that a person must be actively employed at a certain time to qualify for a specific benefit, right, or payment under an agreement. For example, this clause might stipulate that an employee must still be working for the company on the date a bonus is paid or when stock options vest. Its core function is to ensure that only current employees receive certain benefits, thereby incentivizing continued employment and protecting the employer from having to provide benefits to former employees.
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Must Be Employed. In order for Employee to earn the incentives listed in this Section, Employee must be employed by Employer in the same capacity as listed in Section 2.1 above, at the time the incentive is earned. Alternatively, Employee is entitled to the above compensation if Employee is employed by Employer in a different position, if approved by the Employer, at Employer’s sole discretion. If Employee is terminated then any unearned incentives will expire immediately.
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Related to Must Be Employed

  • Pre-Employment Testing Nothing in this Contract shall limit the right of the City to conduct any tests it may deem appropriate for persons seeking employment prior to their date of hire. The parties agree that the Lodge has no role or responsibility with regard to any such pre-employment testing.

  • Re-employment An employee who resigns their position and within 90 days is re-employed, will be granted a leave of absence without pay covering those days absent and will retain all previous rights in relation to seniority and benefits subject to any benefit plan eligibility requirements.

  • Alternative Employment An employer, in a particular redundancy case, may make application to the Commission to have the general severance pay prescription varied if the employer obtains acceptable alternative employment for an employee.

  • Eligible Employee For purposes of the SIMPLE 401(k) Plan provisions, any Employee who is entitled to make Elective Deferrals under the terms of the SIMPLE 401(k) Plan.

  • New Employee (a) (i) Unless the Parties agree, in writing, to an extension of the probationary period, all Employees who work greater than twenty-four (24) hours per week shall be considered probationary for a period of up to three (3) calendar months following date of appointment to the University.