Transition Period and Retirement Sample Clauses

Transition Period and Retirement. A. Resignation from RMR. You will continue to serve as an Executive Vice President of RMR, a Managing Trustee, President and Chief Executive Officer of Industrial Logistics Properties Trust (“ILPT”) and Chief Financial Officer of Select Income REIT (“SIR”) and all other current offices of RMR, ILPT and SIR or any of their affiliates until November 30, 2018 as of which date you will resign from all such offices and from any other officer and board positions you hold within RMR and any of its managed and affiliated companies (collectively, the “RMR Companies”). You will continue to serve as an employee of RMR until the Retirement Date in order to transition your duties and responsibilities to your successor(s).
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Transition Period and Retirement. 4.1 Employee shall remain an active employee of the Company during the Transition Period and her employment with the Company shall continue during the Transition Period on the same basis and under the same terms as existed immediately prior to the Resignation Date, except that (i) Employee shall have no assigned duties and shall perform no services for the Company other than the Transition Services as reasonably requested by the Company from time to time, and (ii) Employee’s coverage under the Company’s short-term disability plan, and the Company’s premium contributions under the long-term disability plan shall cease as of the Resignation Date.
Sample 1
Transition Period and Retirement. A. Resignation from RMR. You will continue to serve as an Executive Vice President of RMR until April 30, 2018 as of which date you will resign as an Executive Vice President of RMR and from any other officer positions you hold within RMR and any of its managed companies, including Senior Housing Properties Trust (“SNH”). You will continue to serve as an employee of RMR until the Retirement Date in order to transition your duties and responsibilities to your successor(s).
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Transition Period and Retirement 
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Related to Transition Period and Retirement

  • Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.

  • Severance and Retirement Options (a) (i) Where an employee resigns within 30 days after receiving notice of layoff pursuant to article 14.02 (a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of sixteen (16) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars.

  • Compensation Following Termination of Employment In the event that Executive's employment hereunder is terminated, Executive shall be entitled to the following compensation and benefits upon such termination:

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Public Employees Retirement System “PERS”) Members. For purposes of this Section 1, “employee” means an employee who is employed by the State on August 28, 2003 and who is eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Pre-Retirement Leave An Employee scheduled to retire and to receive a superannuation allowance under the applicable pension Acts or who has reached the mandatory retiring age, shall be entitled to:

  • Death, Retirement or Disability Executive’s employment shall terminate automatically upon Executive’s death or Retirement during the Employment Period. For purposes of this Agreement, “Retirement” shall mean normal retirement as defined in the Company’s then-current retirement plan, or if there is no such retirement plan, “Retirement” shall mean voluntary termination after age 65 with ten years of service. If the Company determines in good faith that the Disability of Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to Executive written notice of its intention to terminate Executive’s employment. In such event, Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such written notice by Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, Executive shall not have returned to full-time performance of Executive’s duties. For purposes of this Agreement, “Disability” shall mean a mental or physical disability as determined by the Board of Directors of the Company in accordance with standards and procedures similar to those under the Company’s employee long-term disability plan, if any. At any time that the Company does not maintain such a long-term disability plan, “Disability” shall mean the inability of Executive, as determined by the Board, to perform the essential functions of his regular duties and responsibilities, with or without reasonable accommodation, due to a medically determinable physical or mental condition which has lasted (or can reasonably be expected to last) for twelve workweeks in any twelve-month period. At the request of Executive or his personal representative, the Board’s determination that the Disability of Executive has occurred shall be certified by two physicians mutually agreed upon by Executive, or his personal representative, and the Company. Failing such independent certification (if so requested by Executive), Executive’s termination shall be deemed a termination by the Company without Cause and not a termination by reason of his Disability.

  • Leave When Employment Terminates 31.7.1 Except as provided in sub-clause 31.7.3, when the employment of an employee is terminated for any reason, the employee or his estate shall, in lieu of earned but unused vacation leave, be paid an amount equal to the product obtained by multiplying the number of days of earned but unused vacation leave by the daily rate of pay applicable to the employee immediately prior to the termination of his employment.

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