Ongoing Role Sample Clauses

Ongoing Role. (i) As provided above and subject to the other terms of this Agreement, Employee shall remain an Executive Vice President of the Company through the Retirement Date. In addition to other responsibilities that may be assigned to him from time-to-time by the Company’s Chief Executive Officer, from his retirement notice until the Retirement Date, Employee agrees to transition all of his current responsibilities to any person or persons identified by the Company’s Chief Executive Officer. (ii) Company shall pay to Employee an amount equal to a pro rata portion of his annual salary in effect on the date of this Agreement, less applicable taxes and withholdings, on each regular and scheduled pay period between the date of this Agreement and the Retirement Date. Such payments shall be exclusive of accrued but unused vacation and inclusive of other paid leave time, and shall be made, pro rata, on each of the Company’s regularly scheduled pay periods between the date of this Agreement and the Retirement Date. Accrued but unused vacation for which pay is otherwise owed will be paid at or before the Retirement Date. (iii) From the Retirement Date until the one year anniversary of such date, Employee agrees, upon reasonable prior notice provided by the Company, to consult with the Company including, without limitation, the Company’s Chief Executive Officer and Chief Operating Officer. Such consultations, cumulatively, shall not exceed 20 hours.