Upon Employee s retirement from the Company on or after the fourth anniversary of the date of this Agreement, for purposes of calculation of the "target benefit" under the Plan, Employee shall be credited with eleven (11) years of service under the Plan if Employee retires on the fourth anniversary of the date of this Agreement and shall also be credited with one additional year of service for each additional year during which Employee is employed with the Company after the fourth anniversary of the date of this Agreement. If the Employee's employment with the Company terminates pursuant to Section 6(a)(vi) or Section 6(a)(vii)(x) of this Agreement prior to the fourth anniversary of the date of this Agreement, for purposes of calculation of the "target benefit" under the Plan, Employee shall be credited with a number of years of service equal to the sum of (a) the actual number of years of employment of the Employee with the Company and (b) seven (7) years of service. If the Employee terminates his employment with the Company other than for Good Reason under this Agreement prior to the fourth anniversary of the date of this Agreement, for purposes of the "target benefit" under the Plan, Employee shall be credited with a number of years of service equal to the actual years of employment of the Employee with the Company.
Upon Employee s death during the Employment Period, Employer shall pay to the person or entity designated by Employee in a notice filed with Employer or, if no person is designated, to Employee's estate any unpaid amounts of Base Salary to the date of Employee's death, plus any amounts as may be due under Sections 5.9 and 5.10 below. Any payments Employee's spouse, beneficiaries or estate may be entitled to receive pursuant to any pension plan, employee welfare benefit plan, life insurance policy, or similar plan or policy then maintained by Employer shall be determined and paid in accordance with the written instruments governing the respective plans and policies. In the event of Employee's death during the Employment Period, Employer shall notify Employee's designee or estate of the stock awards held by Employee and the procedures pursuant to which all vested stock options may be exercised and other stock awards may be realized under the terms applicable to such awards.
Upon Employee s death at any time while this Agreement is in effect (including without limitation during the period after Employee's retirement or other termination of employment) Employee's Beneficiary will be entitled to a Death Benefit consisting of the greater of the Death Benefit provided in Section 6.2, or $500,000. Employee's Beneficiary will not be entitled to any installments of Retirement Benefits.
Examples of Upon Employee in a sentence
Subparts B–C [Reserved]Subpart D—Regulatory Limitations Upon Employee Conduct§ 0.735–10 Administrative extension of statutory limitations.The provisions of the statutes identi- fied in this part which relate to the ethical and other conduct of Federal employees are adopted and will be en- forced as administrative regulations, violations of which may in appropriate cases be the basis for disciplinary ac- tion, including removal.
Subparts B–C [Reserved]Subpart D—Regulatory Limitations Upon Employee Conduct0.735–10 Administrative extension of statu- tory limitations.0.735–10a—0.735–15 [Reserved]0.735–16 Indebtedness.0.735–17 Gambling, betting, and lotteries.
We will ensure that agencies are aware of their powers, and will promote successful prosecutions to build public confidence in reporting.
Misuse, whether intentional or unintentional, or failure to comply with the Rules of Behavior for Users may result in disciplinary or adverse actions, in accordance with ADS 485, Disciplinary Action - Foreign Service and ADS 487, Disciplinary and Adverse Actions Based Upon Employee Misconduct - Civil Service.
Upon Employee receiving payments on account of the fringe benefit program covering disability provided or paid for by the Corporation, then the Employee's base salary, as defined above, will be reduced to the extent of such entitlement and receipt.
More Definitions of Upon Employee
Upon Employee s retirement from SCS, the Companies agree to pay to Employee an amount equal to the difference between his Retirement Income or Allowance, as applicable, payable in accordance with the terms and provisions of The Southern Company Pension Plan, as may be amended from time to time ("Pension Plan"), and the amount of Retirement Income or Allowance Employee would have been entitled to receive under the Pension Plan if he had first been employed by the Companies on January 1, 1980. Said amount shall be recalculated from time to time to reflect future increases, if any, in Retirement Income or Allowance of retirees, as applicable, following Employee's retirement.
Upon Employee s recommendation. As such, Employee shall act in conformity with the management policies, guidelines and directions issued by the Board, and shall have general charge and supervision of those functions and such other responsibilities as the Board shall, from time to time, determine and assign as are typically performed by and the responsibility of a chief executive officer of a Publicly-Held Corporation. Employee shall report and be responsible to the Board.
Upon Employee s death or Disability, the Company shall have the right to terminate this Agreement immediately. Upon such termination, the Employee (or his estate) shall be entitled to receive from the Company as severance upon such termination, the compensation and benefits, as provided in Sections 5.2, 5.3, and 5.4, through the date of Employee's death or Disability.
Upon Employee s activities (in time, product, geographic area and customer solicitation as may then be legal and valid).
Upon Employee s death, any Option held by Employee at the time of his death may be exercised by the estate or the personal representative of the estate of the Optionee within three months after the date of his death, but only to the extent that (i) the Option was exercisable according to its terms of the date of Optionee's death, and (ii) the period for the exercise of the Option has not terminated as of the date of the exercise. Upon termination of the period ending three months after Employee's death, any unexercised portion of the Option shall expire.
Upon Employee s cessation of employment for any of the above reasons or voluntarily by Employee upon advance written notice as provided herein, Employee shall receive only accrued salary, bonus and vacation pay earned and unpaid as of the date of termination, and shall not be entitled to additional compensation.
Upon Employee s death or total incapacity, Employer shall be obligated to pay the base salary only to Employee or his estate, as applicable, for the balance of the initial term of this Agreement.