Planned Retirement. If, prior to the Vesting Date, you separate from employment due to Planned Retirement, within thirty (30) days following the end of the Performance Period you will receive an unvested Restricted Stock Award with respect the number of shares of Common Stock equal to the product determined by multiplying the total number of Performance Share Units awarded pursuant to this Agreement by the Performance Unit Payout Percentage achieved with respect to the Performance Period, which Restricted Stock Award will vest and become nonforfeitable to the extent you comply with the Post-Retirement Obligations continuously from the date of the termination of your employment as a result of a Planned Retirement until the Compliance Expiration Date.
Planned Retirement. The Parties have reached agreement on a planned transition of executive management of the Company leading to Employee’s retirement. In furtherance of that plan, the Parties have agreed upon the modifications to the Employment Agreement provided for below.
Planned Retirement. 1. Teachers who work 80% of a full time schedule or more shall be eligible for planned retirement if:
Planned Retirement. Contracts An employee may apply for a Planned Retirement Contract (PRC). The Council may, at its discretion, enter into a PRC. A PRC shall be a contract for a fixed term of up to 2 years, and shall be without regard to the classification of the employee contracting for Planned Retirement. On voluntarily contracting with the Council for Planned Retirement an employee relinquishes any other rights to tenure of employment. All other employment terms and conditions of the employee who voluntarily enters a PRC will be those applying immediately before the commencement of the contract unless specifically altered by the contract. A voluntary PRC will allow for the planned, staged reduction in work time while maintaining income through the draw down of Annual Leave and Long Service Leave. This will allow for the gradual introduction of a shorter working week and or working day as well as allowing more frequent use of 1 week blocks of leave. The PRC will at commencement, and then for each 3 month period, set the working weeks, which days of the week will be worked and the duration of the working day together with the form of leave to be used. Any reduction in duties from the normal Position Description are to be specified in writing. Any specific work outputs or outcomes required are to be specified in writing.
Planned Retirement. 20.2.1 For the purposes of this clause 20.2, planned retirement refers to a situation where an Employee nominates a retirement date (i.e. final day of employment with the Company) and comes to an arrangement with the Company to utilise their paid annual leave, long service leave, EDOs, bonus leave and public holiday credits leading up to that retirement date.
