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. 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. 21.01 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 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 (70th) birthday.
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. All accumulated sick leave is abolished when the employee is separated from employment. However, if at retirement (or upon death while employed), the employee has sick leave on the books, he/she will receive a bonus: three (3) months’ pay is given as a reward to the employee who has at least ninety
Termination and Retirement. You will resign your employment with the Company effective as of June 30, 2003 (the "Retirement Date"). As of the Retirement Date, you will cease to be an officer of Triton, the Company and their subsidiaries and affiliates, as applicable. You will also resign from the Board of Directors of Xxxxxx (the "Board") effective immediately following the conclusion of the currently scheduled May 2003 Board meeting (expected to occur on or about May 6, 2003) and hereby agree to deliver a letter of resignation addressed to the Corporate Secretary of Xxxxxx (the "Director Resignation Letter") at the May 2003 Board meeting. Announcement of your retirement shall be made at a time mutually agreeable to you and Triton, but in no event will any announcement be made prior to Xxxxxx's First Quarter 2003 earnings report release, currently expected to occur no later than May 15, 2003. Notwithstanding the foregoing, you understand that if your resignation is because of a disagreement with Xxxxxx relating to its operations, policies, or practices and the Director Resignation Letter describes such disagreements and requests disclosure of such matters, Xxxxxx will be obligated to disclose your resignation and describe such disagreement on a Form 8-K as provided under applicable Securities and Exchange Commission rules and regulations. You should also be aware that the Securities and Exchange Commission has proposed certain changes to rules relating to the disclosure of directors' and officers' resignations that, if implemented, may effect the disclosure required in connection with your termination and the parties to this Agreement agree to comply with any applicable requirements.
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. An employee who dies while in active service and who has accrued, but unused, longevity “days” shall have paid to his/her estate for each unused longevity “day’ his/her prevailing hourly rate (defined in Article VI; Definition of Pay Rates), multiplied by 12 hours and the longevity payment addressed in Article VII of this Agreement. In the year immediately preceding retirement or termination of employment (for any reason), an employee may elect to defer longevity “days” otherwise due to him/her and receive in his/her final paycheck for each unused longevity “day” his/her prevailing current hourly rate, multiplied by 12, in addition to longevity pay due pursuant to Article VII of this Agreement. Employees of the Bargaining Unit who retire before twenty (20) years of service shall receive and be paid an additional twenty-one (21) day of vacation at three (3) weeks of normal pay. Said employees who have completed twenty (20) years employment with the Department shall be entitled to an additional twenty-eight (28) consecutive days of vacation at normal pay upon notifying the Employer thirty (30) days prior to his/her retirement date and during said time the vacation shall be granted. If a member of the Bargaining Unit dies upon completion of their twentieth (20th) year of employment or later, the deceased Firefighter's estate shall be entitled to the additional four (4) weeks of normal pay, notwithstanding the fact that the required notice was not given or actual vacation taken. In the event of termination or retirement, the employee shall be credited with and paid for all unused vacation prorated for each full month worked during the vacation year in which he/she is terminated.
Termination and Retirement. (a) If Executive shall die during --------------------------- the Employment Period, this Agreement shall terminate, except that (i) Executive's surviving spouse or, if none, his estate, shall be entitled to receive Executive's compensation (including bonus) to the last day of the third calendar month following the date of his death; and (ii) such termination shall not affect any rights which Executive may have at the time of his death pursuant to any insurance or other death benefit, retirement, stock option or other plans or arrangements of the Company or of any subsidiary or affiliate of the Company, which rights shall continue to be governed by the provisions of such plans and arrangements.
