Retired Early Employee definition

Retired Early Employee shall have the meaning set forth in Paragraph 6 hereof.
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Retired Early Employee shall have the meaning set forth in Paragraph 6 hereof. (y) “Retirement” shall have the meaning set forth in Paragraph 7(f)(i) hereof. (z) “Section 4999 Determination” shall have the meaning set forth in Paragraph 6(g)(ii) hereof. (aa) “Target Bonus” shall have the meaning set forth in Paragraph 5(b) hereof. (bb) “Term” shall have the meaning set forth in Paragraph 2(a) hereof. (cc) “Termination of Employment” or “Termination of Employment of Executive” means the separation from service of the Executive, as defined in the regulations under Section 409A of the Code, with and from Arrow and its Affiliates. Generally, for purposes of Section 409A, a separation from service means a decrease in the performance of services to no more than 20% of the average for the preceding 36-month period, disregarding leaves of absence of up to six months where there is a reasonable expectation the Executive will return. (dd) “Termination of Employment of Executive as a Retired Early Employee” means a Termination of Employment of Executive pursuant to Paragraph 6(a) hereof, that is, either a Termination of Employment of Executive without Cause or a Termination of Employment of Executive for Good Reason, in either case, following a Change in Control and otherwise meeting the requirements of Paragraph 6(a) hereof. (ee) “Termination of Employment of Executive for Cause” shall mean a termination of the Employment of Executive by Arrow or the Banks pursuant to Paragraph 7(a) for any one or more of the following “Causes:” (i) any willful misconduct by the Executive which is materially injurious to Arrow or the Banks or their Affiliates, monetarily or otherwise; (ii) any willful failure by the Executive to follow the reasonable directions of the Arrow Board or the Bank Boards or the Chief Executive Officer of Arrow or the Banks; (iii) any failure by the Executive substantially to perform any reasonable directions of the Arrow Board or the Bank Boards or the Chief Executive Officer of Arrow or the Banks (other than failure resulting from disability or death), within thirty (30) days after delivery to the Executive by the respective Board or the Chief Executive officer of Arrow or the Banks a written demand for substantial performance, which written demand shall specifically identify the manner in which the respective Board believes that the Executive has not substantially performed;
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Retired Early Employee shall have the meaning set forth in Paragraph 6 hereof. (x) “Retirement” shall have the meaning set forth in Paragraph 7(f)(i) hereof. (i) “Section 4999 Determination” shall have the meaning set forth in Paragraph 6(g)(ii) hereof. (y) “Target Bonus” shall have the meaning set forth in Paragraph 5(b) hereof. (z) “Term” shall have the meaning set forth in Paragraph 2(a) hereof. (aa) “Termination of Employment” or “Termination of Employment of Executive” means the separation from service of the Executive, as defined in the regulations under Section
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Examples of Retired Early Employee in a sentence

  • The Retired Early Employee may elect to waive any or all payments due him under this subparagraph.

  • Such accounting firm or attorney shall provide its Section 4999 Determination, together with detailed supporting calculations and documentation to the Company and the Executive not later than thirty (30) days after the effective date of the Termination of Employment of Executive as a Retired Early Employee.

  • If (I) the lump sum amount thus made available is less than (II) the present value of all such remaining monthly payments, Arrow or the Banks shall continue to pay to the Retired Early Employee monthly payments for the duration of the Pay-out Period, but from such date forward such monthly payments will be in a reduced amount such that the present value of all such reduced payments, calculated as of the date of such determination, will equal the difference between (II) and (I), above.

  • In addition to any Termination of Employment of Executive as a Retired Early Employee under Paragraph 6 of this Agreement, a Termination of Employment of Executive may occur prior to the normal expiration of the Term under the circumstances and with the consequences set forth below.

  • If the Retired Early Employee dies before receiving all monthly cash payments payable to him as a Retired Early Employee under Paragraph 6(b)(i) above, the Banks shall pay to the Executive's spouse, or if the Executive leaves no spouse, to the estate of the Executive, one (1) lump sum payment in an amount equal to the present value of all such remaining unpaid monthly payments, determined as of the date of death of the Executive.

  • The term of Employment of the Executive under this Agreement ("Term") shall commence on the Effective Date and, unless the Executive becomes a Retired Early Employee under Paragraph 6 of this Agreement or such Employment is earlier terminated as provided in Paragraph 7 of this Agreement, shall expire on January 31, 2026.


More Definitions of Retired Early Employee

Retired Early Employee shall have the meaning set forth in Paragraph 6 hereof. (y) "Retirement" shall have the meaning set forth in Paragraph 7(f)(i) hereof. (z) "Section 4999 Determination" shall have the meaning set forth in Paragraph 6(g)(ii) hereof. (aa) "Target Bonus" shall have the meaning set forth in Paragraph S(b) hereof. (bb) "Term" shall have the meaning set forth in Paragraph 2(a) hereof. (cc) "Termination of Employment" or "Termination of Employment of Executive" means the separation from service of the Executive, as defined in the regulations under Section 409A of the Code, with and from Arrow and its Affiliates. Generally, for purposes of Section 409A, a separation from service means a decrease in the performance of services to no more than 20% of the average for the preceding 36-month period, disregarding leaves of absence of up to six months where there is a reasonable expectation the Executive will return. 16
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Related to Retired Early Employee

  • Retired Employee means an employee of the state who retired after April 29, 1971,

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Retirement Age means the earlier to occur of:

  • Retirement Benefit means the benefit set forth in Article 5.

  • Regularly employed means, with respect to an officer or employee of a person requesting or receiving a Federal contract, an officer or employee who is employed by such person for at least 130 working days within 1 year immediately preceding the date of the submission that initiates agency consideration of such person for receipt of such contract. An officer or employee who is employed by such person for less than 130 working days within 1 year immediately preceding the date of the submission that initiates agency consideration of such person shall be considered to be regularly employed as soon as he or she is employed by such person for 130 working days.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Disability retirement for plan 1 members, means the period

  • Change in Control Benefits means the following benefits: