Upon Executive definition

Upon Executive s retirement as provided in Section 8 of the Employment Agreement; or
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Upon Executive s death during the Employment Period, the heirs or legal representatives of Executive shall be entitled to receive as a lump sum payment payable within sixty (60) calendar days of his death, 2.99 times the average of the aggregate base and incentive compensation paid to Executive over the preceding five years, provided, however, that in no event shall the amount due and payable hereunder constitute a "Parachute Payment" within the meaning of Section 280G(b)(2) of the Internal Revenue Code of 1986, as amended.
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Upon Executive s retirement from the Company on or after the fourth anniversary of the Effective Date, for purposes of calculation of the "target benefit" under the Plan, Executive shall be credited with his actual years of service with the Company, plus six (6) additional years of service under the Plan if Executive retires on or after the fourth anniversary of the Effective Date. If the Executive'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 Effective Date, for purposes of calculation of the "target benefit" under the Plan, Executive 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 Executive with the Company and (b) six (6) years of service. If the Executive terminates his employment with the Company other than for Good Reason under this Agreement prior to the fourth anniversary of the Effective Date, for purposes of the "target benefit" under the Plan, Executive shall be credited with a number of years of service equal to the actual years of employment of the Executive with the Company.
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Examples of Upon Executive in a sentence

  • Upon Executive becoming “Permanently Disabled”, which, for purposes of this Agreement, shall mean Executive’s incapacity due to physical or mental illness or cause, which, in the written opinion of Executive’s regular licensed physician, results in the Executive being unable to perform his duties on a full-time basis for six (6) months during a period of twelve (12) months.

  • Upon Executive Director’s request, Developer agrees to permit the Executive Director to review and inspect copies of any and all (i) Project Loan draw requests (as well as any revised draw requests); and (ii) any inspections and reports related to the Project.

  • Growth in durable equipment gained fromhigher demand for transport equipment.Figure 6.

  • Upon Executive becoming “Permanently Disabled”, which, for purposes of this Agreement, shall mean Executive’s incapacity due to physical or mental illness or cause, which, in the written opinion of Executive’s regular licensed physician, results in the Executive being unable to perform his duties on a full-time basis for 6 months during a period of 12 months.

  • Upon Executive Secretary approval of the final infiltration and contaminant transport report, the Reclamation Plan may be modified to accommodate necessary changes to protect public health and the environment.

  • Upon Executive Secretary approval, a Construction Permit may be issued and this Permit may be re-opened and modified to include any necessary requirements.

  • Upon Executive Secretary approval this Permit may be re-opened and modified to include any necessary requirements.

  • Upon Executive giving the requisite notice of his intent to terminate his employment, the Company, at its sole discretion, shall have the option of immediately accepting Executive's resignation.

  • Upon Executive becoming "Permanently Disabled", which, for purposes of this Agreement, shall mean Executive's incapacity due to physical or mental illness or cause, which, in the written opinion of Executive's regular licensed physician, results in the Executive being unable to perform his duties on a full-time basis for 6 months during a period of 12 months.

  • Upon Executive Committee approval, the proposed changes may be submitted to the next scheduled General Meeting.[10.2] Members may propose amendments to these by-laws by submitting them to the Executive Committee in writing signed by at least ten members of the Association.


More Definitions of Upon Executive

Upon Executive s retirement pursuant to Section 5(e) above, Executive and his heirs or legal representatives shall be entitled to receive the following: (i) average annual compensation for a period of two (2) years in exchange for a properly executed non-compete agreement between Executive and the Company, (ii) any payments owing to Executive pursuant to Section 4(b) hereof through the date of retirement (to the extent any such payments were unpaid on the date of retirement, as well as for the current year), (iii) a sum equivalent to any accrued but unpaid vacation for the year in which he retires, and (iv) any unpaid expense reimbursement. Furthermore, for a period of five (5) years after retirement, the Company shall maintain in full force and effect for the continued benefit of Executive and his dependents all (i) pension plans, (ii) medical and disability policies, (iii) stock option plans and (iv) life insurance plans in which Executive participated immediately prior to his termination (or if such participation is barred, shall arrange for individual policies of insurance providing benefits substantially similar, on an after-tax basis, to those which Executive otherwise would have been entitled hereunder) for the remainder of the term of this Agreement.
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Upon Executive s retirement pursuant to Section 2 hereof and continuing until August 1, 2004 or, if the term of Executive's consulting services to the Corporation pursuant to Section 6 hereof is extended as provided in paragraph 6(b) hereof, until August 1, 2005, Executive, without the express written consent of the Corporation, will not divulge, furnish or make accessible to anyone any Confidential Information (as hereinafter provided) with respect to any aspect of the business of the Corporation or any of its subsidiary or
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Upon Executive s retirement from the employ of the Corporation the Corporation shall pay to Executive special retirement benefits at the rate of Six hundred Thousand Dollars ($600,000) per annum for fifteen (15) years following Executive's last day of employment, such payments to be made on January 15th of each of the fifteen (15) years beginning with the calendar year following the year in which Executive retires.
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Upon Executive s entitlement to benefits pursuant to Subsection 5(b), the Bank shall pay Executive, or in the event of his subsequent death, his beneficiary or beneficiaries, or his estate, as the case may be, a sum equal to three (3) times Executive's annual compensation as described below for the last taxable year immediately preceding the Change in Control. Such annual compensation shall include Base Salary and any other taxable income, including but not limited to commissions, bonuses, severance payments, retirement payments, and directors or committee fees. At the election of Executive, which election is to be made prior to a Change in Control, such payment shall be made: (a) in a lump sum as of Executive's Date of Termination, (b) on a bi-weekly basis in approximately equal installments over a period of thirty-six (36) months following Executive's termination, or (c) on an annual basis in approximately equal installments over a period of thirty-six (36) months following Executive's termination.
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Upon Executive s December 31, 1999 retirement as Chief Executive Officer and an employee of the Company and continuing for so long as Executive is a member of the Board, Executive shall have the title of Vice-Chairman of the Board."
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Upon Executive s completion of at least five years of service (May 1, 2004) and his election to retire in accordance with the provisions of the ERP, Executive's pension benefit service time will be increased and Executive will be paid other retiree benefits pursuant to this Agreement.
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Related to Upon Executive

  • Non-Executive Director means a member of the Board of Directors who does not hold an executive office with the Trust.

  • Non-Executive Directors means the Directors who are not in whole time employment of the Company.

  • Executive manager means an individual employed by a new motor vehicle dealer in an executive capacity and who has a written employment agreement with the dealer that includes a right for the executive manager to purchase a controlling interest in the dealership at a future time or on the death or incapacity of the dealer.

  • Agreement Term has the meaning set forth in Section 11.1.

  • Executive Management means the CEO and the CFO for purposes of administering this Plan.

  • Chief Nursing Executive means the senior nurse employed by the Hospital who reports directly to the Chief Executive Officer and is responsible for nursing services provided in the Hospital;

  • Key Executive means an employee of a Textron Company who has been and continues to be designated as a Key Executive under the Plan by Textron’s Chief Executive Officer and Chief Human Resources Officer.

  • Executive Mayor means the councillor elected as the executive mayor of the municipality in terms of section 55 of the Municipal Structures Act;

  • Consulting Period has the meaning assigned thereto in Section 14(f) hereof.

  • Executive means the individual named in the first paragraph of this Agreement.

  • the Executive means the Health and Safety Executive;

  • Executive Member means any elected member of the authority appointed to the executive of that authority;

  • Term of Employment means the period specified in Section 2 below.

  • Executive Chairman means the Executive Chairman of the Board.

  • Seattle Human Resources Director means the director of the Seattle Department of Human Resources or his or her designated management representative.

  • Employment Term refers to the entire period of employment of Employee by Employer, whether for the periods provided above, or whether terminated earlier as hereinafter provided or extended by mutual agreement between Employer and Employee.

  • County Executive means the County Executive of the County.

  • Agreement Termination Date is defined in Section 7.4.

  • Executive Severance Plan means the Company’s Senior Executive Employee Severance Pay Plan, as in effect from time to time.

  • The Consultant s Personnel’ means any person instructed pursuant to this Contract to undertake any of the Consultant’s obligations under this Contract, including the Consultant’s employees, agents and sub-consultants.

  • Period of Employment shall include any extension thereof pursuant to the preceding sentence. Provision of notice that the Period of Employment shall not be extended or further extended, as the case may be, shall not constitute a breach of this Agreement and shall not constitute “Good Reason” for purposes of this Agreement. Notwithstanding the foregoing, the Period of Employment is subject to earlier termination as provided below in this Agreement.

  • Employment Termination Date means, with respect to a Participant, the first day upon which the Participant no longer has an employment or service relationship with the Company or any Related Company.

  • Employment Termination means the effective date of: (i) Executive’s voluntary termination of employment with the Company with Good Reason, or (ii) the termination of Executive’s employment by the Company without Good Cause.

  • Employment Period has the meaning set forth in Section 2.01.

  • Executive Director means the executive director of the Department of Commerce.

  • Separation Date means the effective date and time of each transfer of property, assumption of liability, license, undertaking, or agreement in connection with the Separation, which shall be 12:01 a.m., Pacific Time, February 26, 2000, or such date as may be fixed by the Board of Directors of 3Com.