Termination and Retirement Clause Samples
The 'Termination and Retirement' clause defines the conditions under which a party may end their involvement in an agreement, either by terminating the contract or by retiring from their obligations. Typically, this clause outlines the procedures for providing notice, any required advance warning periods, and the consequences or obligations that arise upon termination or retirement, such as final payments or the return of property. Its core function is to provide a clear and orderly process for ending the contractual relationship, thereby reducing uncertainty and potential disputes when a party wishes to exit the agreement.
Termination and Retirement. All active participants terminate two years after the valuation date, or immediately, if that produces a higher liability. Benefit payments begin at the earliest retirement date following termination.
Termination and Retirement a. At any time during your employment, either the Employer or Employee shall be entitled to terminate the employment subject to the notice period set forth below. The Employee may terminate the employment by giving 60 (Sixty) day’s written notice or 2 (Two) month’s salary which is based on annual fixed compensation, in lieu of notice to the Employer. The Employer may terminate the employment by giving 60 (Sixty) day’s written notice or 2 (Two) month’s salary which is based on annual fixed compensation, in lieu of notice to the Employee, subject to the release date being approved by the Employer. During the notice period, the Employee shall cooperate with the Employer in ensuring smooth transition and handover of responsibilities failing which the Employer shall be authorized to withhold/forfeit your dues.
b. This Agreement will automatically terminate, as a result of retirement, upon the Employee attaining the age of 65 years.
Termination and Retirement. An employee who retires from City service shall receive an additional retirement plan contribution that is equal to fifty percent (50%) of the cash value in wages of all accrued sick leave. An employee shall be considered to have retired from City service only if he or she begins receiving Social Security retirement (not disability) benefits upon termination of City employment, or if he or she has thirty (30) or more years of service with the City.
Termination and Retirement. 14:01 An SSP may terminate employment with the Board at any time. An SSP shall be expected to give ten
Termination and Retirement. Employees terminating with more than twelve (12) months of Hospital service will receive payment for unused accrued Earned Time at their then regular rate of pay, (see Article 24, Section 4). Earned Time may not be used to extend the termination date beyond the last actual day of work. The employee’s department may deny payment of Earned Time during the final four (4) weeks of employment. Employees terminated for misconduct will forfeit accrued Earned Time.
Termination and Retirement. Upon your Termination of Employment for any reason, other than your death, Disability or Retirement, any and all unvested RSUs underlying this Award, together with any and all unvested accumulated Dividend Equivalents, shall automatically be cancelled for no consideration, and shall cease to be outstanding. For avoidance of doubt, should you cease to be an Employee but otherwise continue in service as a contractor or consultant, you will forfeit any and all unvested RSUs unless otherwise approved by the Committee. In the event of your Termination of Employment due to Retirement (as defined below), the unvested RSUs underlying the Award shall continue to vest and be settled in accordance with the original vesting schedule as set forth in the Grant Notice as if you had remained an Employee during the full vesting period; provided, however, that (i) during your employment with the Company or any Affiliate or any time thereafter during the full vesting period, you have not and do not engage in any activity in competition with the Company or any Affiliate or which is inimical, contrary or harmful to the interests of the Company or any Affiliate (to the fullest extent not prohibited by applicable law), as determined by the Committee, and you certify as to such non-engagement upon the request of the Company; and (ii) upon the request of the Company, you execute and do not revoke a release of claims in favor of the Company and its Affiliates, in a form satisfactory to the Company which must be executed by you and delivered to the Company by no later than the 52nd day following the date of your Retirement. For the avoidance of doubt, the unvested RSUs underlying the Award will be cancelled for no consideration and cease to be outstanding if you engage in any of the prohibited conduct as described in this subsection 2(c)(ii).
Termination and Retirement. The normal retirement age shall be sixty-five (65). In exceptional circumstances, the Chief Administrative Officer may, 'in the interest of the City, recommend to the Council for approval, extension of the retire- ment age provided that not more than one (1) year ex- tension shall be granted at any one time, and that in no case shall any extension be granted beyond the employee's seventieth (70th) birthday. All employees shall participate in the Pen- sion Plan in accordance with the rules of that plan. All costs of the Pension Plan premiums are to be shared equally on a basis. Notice of termination will be given in accordance with the most current Employment Standards Act. A regular employee may be discharged only for just cause, and only with the authority of the Chief Ad- ministrative Officer. The Department Head may sus- pend an employee for periods of one (1) day or more and shall report such action, and the reason therefore, to the Chief Administrative Officer as quickly as possi- ble. The immediate Supervisor may suspend any employee for a period of up to one day on any one occasion and such suspension shall be duly reported to the Department Head. When an employee is warned, suspended or discharged he shall be given the in the presence of his ▇▇▇▇▇▇▇. The affected employee and the Union Local shall be subsequently advised in writing of the for such warning, suspension or dismissal “as promptly as possible”. An employee considered by the Union to be wrongfully or unjustly discharged or suspended shall be entitled to a hearing under ARTICLE GRIEVANCE PRO- CEDURE. STEPS and of the Grievance Procedure shall be omitted in such cases.
Termination and Retirement. 17 - 11.1. Term of Agreement.............................................- 17 - 11.2. Extended Term.................................................- 17 - 11.3. Termination by OSMC II for Cause..............................- 17 - 11.4. Termination by SCN for Cause..................................- 18 - 11.5. Termination by Physician Owners...............................- 19 - 11.6. Closing of Purchase by OSMC II and Effective Date of Termination...............................- 20 - 11.7. Tail Policy...................................................- 20 - ARTICLE XII.
Termination and Retirement. The normal retirement age shall be (65). In exceptional circumstances, the Chief Administrative Officer may, in the interest of the City, recommend to the Council for approval, extension of the retirement age provided that not more than one (1) year extension shall be granted at any one time, and that in no case shall any extension be granted beyond the employee's seventieth (70t birthday.
Termination and Retirement. 9 - 9.1. Term of Agreement..............................................................................- 9 - 9.2. Extended Term..................................................................................- 9 - 9.3. SCN Events of Default..........................................................................- 9 - 9.4. DDD Events of Default..........................................................................- 9 - 9.5. DDD's Remedies................................................................................- 10 - 9.6. SCN's Remedies................................................................................- 10 -