Retirement or Termination Sample Clauses

Retirement or Termination. Upon Retirement or termination of employment of the Participant for reasons other than those described in Section 11 of this Agreement, Option privileges shall apply only to that portion of the Option immediately exercisable as of the date of such Retirement or termination. The Committee, however, in its discretion, may provide on a case-by-case basis that any portion of the Option that is not exercisable as of the date of such Retirement or termination may become exercisable in accordance with a schedule to be determined by the Committee. The portion of the Option exercisable upon the Retirement of the Participant shall remain exercisable for three (3) years after Retirement. The portion of the Option exercisable upon termination for reasons other than Retirement or those described in Section 11 of this Agreement shall remain exercisable for three (3) months after such termination.
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Retirement or Termination. Employees who retire after 10 years of service shall have the option of being paid for ½ of unused, accrued sick leave up to a maximum of 17 days or utilizing such amount toward extension of service credit as provided in Article 33. Employees who voluntarily terminate after 10 years of service will be paid for one-third of unused, accrued sick leave up to a maximum of 15 days.
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Retirement or Termination. An Association member upon retirement or termination of employment, with proper notice, shall be paid an amount of money calculated at the rate of seventy dollars ($70.00) per accrued sick days for the 2005-2006, 2006-2007 and 2007-2008 school years, up to a maximum of two hundred (200) days. However, there is no limit on the amount of sick days accrued for potential use when an Association member is sick. It is specifically understood and agreed that for an Association member's last year of employment he/she shall receive the amount of sick pay calculated above upon retirement for each month worked and fifty percent (50%) of the above amount of the remaining sick days.
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Retirement or Termination. When an Employee retires or is terminated for cause, they will be paid the value of any accumulated TOIL and Vacation Bank as a lump sum payment less usual and required deductions.
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Retirement or Termination. When an Employee retires or their employment is terminated, they will be paid the value of any earned annual vacation entitlement as a lump sum payment less usual and required deductions, including pension. In the event an Employee retires or their employment is terminated, having exceeded their annual vacation entitlement, they will have an amount equal to the exceeded annual vacation entitlement deducted from their final pay or they will have to repay the Employer the value of the excess leave the exceeds the final pay.
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Retirement or Termination. At the time an Employee retires, or is terminated for any reason, all accrued banked time shall be paid to the Employee at the rate of pay when the banked time was earned. The Employee may; however, request the Company in writing, to transfer such accrued banked time to the Employee's individual RRSP account (see 13.02(d)).
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Retirement or Termination. An Employee terminating their employment, at any time during the fiscal year, shall be entitled to a proportionate payment of salary or wages in lieu of such vacation, less vacation already taken.
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Retirement or Termination. Upon retirement or other termination of regular employment with the Company, the Participant shall become eligible for deferred compensation payments under this Plan.
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Retirement or Termination. At the time an Employee retires, or is terminated for any reason, all accrued banked time shall be paid to the Employee at the Employee’s current hourly rate of pay. The Employee may, however, request the Company, in writing, to transfer such accrued banked time to the Employee’s individual R.R.S.P. account.
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Related to Retirement or Termination

  • Amendment or Termination (a) This Trust Agreement may be amended by a written instrument executed by Trustee and Company. Notwithstanding the foregoing, no such amendment shall conflict with the terms of the Plan or shall make the Trust revocable after it has become irrevocable in accordance with Section 1(b) hereof.

  • Effect of Termination of Employment or Death If Employee goes on leave of absence for a period of greater than twelve months (except a leave of absence approved by the Board of Directors or the Committee) or ceases to be an employee of the Company for any reason except death, the portion of the SARs which is unexercisable on the date on which Employee ceased to be an Employee or has been on a leave of absence for over twelve months (except a leave of absence approved by the Board or Committee) shall expire on such date and any unexercised portion of the SARs which was otherwise exercisable on such date shall expire at the earlier of (i) the expiration of the SARs in accordance with the term for which the SARs were granted, or (ii) three months from such date, except in the case of an Employee who is an “Approved Retiree” as defined below. If Employee is an Approved Retiree, then the SARs shall expire at the sooner to occur of (i) the expiration of such SARs in accordance with their original term, (ii) the expiration of five years from the date of retirement, or (iii) with respect to SARs granted less than one year before the date the Approved Retiree retires, such retirement date, except not with respect to that portion of the SARs equal to the number of such shares multiplied by the ratio of (a) the number of days between the Award Date and the retirement date inclusive, over (b) the number of days in the twelve (12) month period following the Award Date. In the event of the death of Employee without Approved Retiree status during the three (3) month period following termination of employment or a leave of absence over twelve (12) months (except a leave of absence approved by the Board or Committee), the SARs shall be exercisable by Employee’s personal representative, heirs or legatees to the same extent and during the same period that Employee could have exercised the SARs if Employee had not died. In the event of the death of Employee while an employee of the Company or while an Approved Retiree, the SARs (if the waiting period has elapsed) shall be exercisable in their entirety by Employee’s personal representatives, heirs or legatees at any time prior to the expiration of one year from the date of the death of Employee, but in no event after the term for which the SARs were granted. For purposes of this Agreement, an “Approved Retiree” is any SAR holder who (i) terminates employment by reason of a Disability, or (ii) (A) retires from employment with the Company with the specific approval of the Committee on or after such date on which the SAR holder has attained age 55 and completed 10 Years of Service, and (B) has entered into and has not breached an agreement to refrain from Engaging in Competition in form and substance satisfactory to the Committee; and if the Committee subsequently determines, in its sole discretion, that an Approved Retiree has violated the provisions of the Agreement to refrain from Engaging in Competition, or has engaged in willful acts or omissions or acts or omissions of gross negligence that are or potentially are injurious to the Company’s operations, financial condition or business reputation, such Approved Retiree shall have ninety (90) days from the date of such finding within which to exercise any SARs or portions thereof which are exercisable on such date, and any SARs or portions thereof which are not exercised within such ninety (90) day period shall expire and any SARs or portion thereof which are not exercisable on such date shall be cancelled on such date.

  • Payments Upon Termination of Employment (a) If Executive's employment with the Company is terminated by reason of:

  • Other Termination of Service If the Optionee's Service with the Participating Company Group terminates for any reason, except Disability or death, the Option, to the extent unexercised and exercisable by the Optionee on the date on which the Optionee's Service terminated, may be exercised by the Optionee within three (3) months after the date on which the Optionee's Service terminated, but in any event no later than the Option Expiration Date.

  • 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:

  • Effect of Termination of Employment or Service Except as provided in Section 3, the Participant’s Share Units shall terminate and be forfeited to the extent such units have not become vested prior to the first date the Participant is no longer employed by or in service to the Company or one of its Subsidiaries, regardless of the reason for the termination of the Participant’s employment or service with the Company or a Subsidiary, whether voluntarily or involuntarily. If any unvested Share Units are terminated hereunder, such Share Units shall automatically terminate and be forfeited as of the applicable termination date without payment of any consideration by the Company and without any other action by the Participant, or the Participant’s beneficiary or personal representative, as the case may be.

  • Termination of Employment or Service If the Participant’s employment or service with the Company and its Affiliates terminates for any reason, all unvested RSUs shall be cancelled immediately and the Participant shall not be entitled to receive any payments with respect thereto.

  • Amendment or Termination of Agreement This Agreement may be changed or terminated only upon the mutual written consent of the Company and Executive. The written consent of the Company to a change or termination of this Agreement must be signed by an executive officer of the Company after such change or termination has been approved by the Board.

  • 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:

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