Retirement and Termination of Employment Clause Examples

Retirement and Termination of Employment. Any Option granted to an employee, the period of which has not lapsed or expired, shall terminate at the time of the death of the Optionee to whom the Option was granted or on the retirement or termination for any reason of such Optionee's employment with the Company, and no shares may thereafter be delivered pursuant to such Option, except that: (a) within two years after the date of the Optionee's death, during which two year period the Option may be exercised by the Optionee's estate, legal representative, or legatee or such other person designated by an appropriate court as the person entitled to exercise such Option but only to the extent the Optionee was entitled to exercise it at the time of death. The Option must be exercised in the manner provided for in Section 7(c). (b) within five years after termination of employment by reason of retirement pursuant to any pension or retirement plan of the Company or cessation of serving as a non-employee Director and to the extent the Optionee would have been able to exercise it at the time of such termination or cessation. The Option must be exercised in the manner provided for in Section 7(c). (c) within two years after termination of employment by reason of disability to the extent the Optionee would have been able to exercise it at the time of such termination. The Option must be exercised in the manner provided for in Section 7(c). Nothing in this Section 8 shall extend the option period as established at time of grant.
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Retirement and Termination of Employment. ▇▇▇▇▇▇ retired from the Company and his employment with the Company terminated effective at 11:59 p.m. Eastern Time on May 31, 2012 (the “Retirement Date”).
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Retirement and Termination of Employment. 65 ARTICLE 20 - CLEARANCE UPON TERMINATION 71 ARTICLE 21 - GRIEVANCES 72 ARTICLE 22 - SUSPENSION AND OTHER DISCIPLINARY PRACTICES 76 ARTICLE 23 - BENEFIT PROVISIONS 77 ARTICLE 24 - LEAVES 84 ARTICLE 25 - FINANCIAL EXIGENCY 90 ARTICLE 26 - AMENDMENTS TO THE CATHOLIC COLLEGE OF ▇▇▇▇▇▇ ACT 96 ARTICLE 27 - STRIKES AND LOCKOUTS 97 ARTICLE 28 - DURATION AND CONTINUANCE OF THE AGREEMENT 98
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Retirement and Termination of Employment. This provision in the Agreement should also be coordinated with any employment agreements of the owners. The owners should decide if an economic penalty for early termi- nation is appropriate. Likewise, if there should be an incentive for owners to retire to allow for “new blood,” the Agreement should quantify that incen- tive. Those generally take the form of purchase price adjustments.
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Retirement and Termination of Employment. Hira shall retire and his employment with UBICS will terminate on January 1, 2000 (the "Termination Date"). On the Termination Date, except as otherwise provided herein, the Employment Agreement shall terminate and be of no further force and effect and the parties shall be released from all of their obligations under the Employment Agreement. From the date hereof until the Termination Date, Hira shall continue to be employed by UBICS under, shall receive compensation and benefits pursuant to, and shall be bound by the other terms of, the Employment Agreement, except as otherwise provided herein.
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Retirement and Termination of Employment. N▇▇▇▇’▇ retirement from the Company and his termination of employment as Vice-Chairman shall be deemed to have been effective as of the close of business on the Termination Date.
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Retirement and Termination of Employment. Executive acknowledges his retirement and resignation as CEO of the Company and termination of the Amended Employment Agreement and his employment with the Company effective at 5:00 P.M. PST, April 30, 2013.
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Retirement and Termination of Employment. (a) The Company shall employ, and Executive agrees to continue to be employed until June 3, 2022 (the “Retirement Date”). (b) Executive shall be paid his regular base salary at the rate as in effect on the date hereof and shall continue to be eligible for all employee benefits for which he is eligible on the date hereof through the Retirement Date. During the period from the date hereof until the Retirement Date, Executive shall assist with the transition of his duties and responsibilities as requested. (c) For the purposes of this Agreement, (i) “Cause” shall mean (A) Executive’s willful misconduct, which, in the good faith judgment of the Company, has caused or is reasonably expected to result in material injury to the business performance or business reputation of the Company, (B) Executive’s willful failure to perform his material duties and responsibilities to the Company, (C) knowing breach of Executive’s material obligations under this Agreement or any of the Company’s material written policies or procedures, including, but not limited
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Retirement and Termination of Employment 
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Related to Retirement and Termination of Employment

  • TYPES OF EMPLOYMENT AND TERMINATION OF EMPLOYMENT 15 General 16 Employees on Daily Hire 17 Casual Employees 18 Employer and Employee Duties 19 Apprentices 20 Sham Contracting 21 Termination of Employment 22 Redundancy 23 Payment of Wages and Time Records 24 Superannuation 25 Insurance 26 Insurance – Minimum Cover / Minimum Benefits 27 Insurance – Employer Liability 28 Accident Makeup Pay 29 Compensation of Tools of Trade and Clothes 30 Application of Site Agreements / Inductions and off the job training / Local Labour – Visa Requirements 31 Hours of Work 32 Presenting for Work but Not Required 33 Overtime 34 Call Back

  • Term and Termination of Employment (a) This Agreement shall be effective as of the Effective Date. (b) Employee's Employment shall terminate immediately upon the discharge of Employee for "Cause." For the purpose of this Agreement, the term "Cause," when used with respect to termination by NOVA of Employee's Employment hereunder, shall mean termination as a result of: (i) Employee's competition with the Business of NOVA either directly or indirectly, (ii) Employee's willful, intentional, or grossly negligent failure to perform his duties under this Agreement diligently and in accordance wit the directions of NOVA; (iii) Employee's willful, intentional, or grossly negligent failure to comply with the decisions or policies of NOVA; (iv) Employee's failure to discharge Employee's duty of loyalty to NOVA; or (v) final conviction of Employee of a felony; provided, however, that in the event NOVA desires to terminate Employee's Employment pursuant to subsections (i), (ii), (iii), or (iv) of this Section 6 (b), NOVA shall first give Employee written notice of such intent, detailed and specific description of the reasons and basis therefor, and thirty (30) days to remedy or cure such perceived breaches or deficiencies by Employee (the "Cure Period"). If Employee does not cure the perceived breaches or deficiencies within the Cure Period, NOVA may discharge Employee immediately upon written notice to Employee. If NOVA desires to terminate Employee's Employment pursuant to subsection (v) of this Section 6(b), NOVA shall first give Employee three (3) days prior written notice of such intent.

  • Compensation Upon Termination of Employment If the Executive’s employment hereunder is terminated, in accordance with the provisions of Article III hereof, and except for any other rights or benefits specifically provided for herein to be effective following the Executive’s period of employment, the Company will provide compensation and benefits to the Executive only as follows:

  • Benefits Upon Termination of Employment If the Executive is entitled to benefits pursuant to this Section 2, the Company agrees to pay or provide to the Executive as severance payment, the following: (i) A single lump sum payment, payable in cash within five days of the Termination Date (or if later, the Change of Control Date), equal to the sum of: (A) the accrued portion of any of the Executive's unpaid base salary and vacation through the Termination Date and any unpaid portion of the Executive's bonus for the prior fiscal year; plus (B) a portion of the Executive's bonus for the fiscal year in progress, prorated based upon the number of days elapsed since the commencement of the fiscal year and calculated assuming that 100% of the target under the bonus plan is achieved; plus (C) an amount equal to the Executive's Base Compensation times the Compensation Multiplier. (ii) Continuation, on the same basis as if the Executive continued to be employed by the Company, of Benefits for the Benefit Period commencing on the Termination Date. The Company's obligation hereunder with respect to the foregoing Benefits shall be limited to the extent that the Executive obtains any such benefits pursuant to a subsequent employer's benefit plans, in which case the Company may reduce the coverage of any Benefits it is required to provide the Executive hereunder as long as the aggregate coverages and benefits of the combined benefit plans is no less favorable to the Executive than the Benefits required to be provided hereunder. (iii) Outplacement services to be provided by an outplacement organization of national repute, which shall include the provision of office space and equipment (including telephone and personal computer) but in no event shall the Company be required to provide such services for a value exceeding 17% of the Executive's Base Compensation. (iv) Accelerated vesting of all outstanding stock options and of all previously granted restricted stock awards. (v) Target amounts that would have accrued under the MagneTek Shareholder Return Plan had the applicable period for each such target elapsed, calculated and paid, PRO RATA, for the actual period elapsed.

  • Other Termination of Employment In the event of your voluntary termination (other than a Retirement subject to Section 2(c) or a Qualifying Termination subject to Section 2(f)), or termination by the Company or a subsidiary of the Company for misconduct or other conduct deemed by the Company to be detrimental to the interests of the Company or a subsidiary of the Company, you shall forfeit all unvested RSUs on the date of termination.