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 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 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 requests, with supporting invoices, Executive will be reimbursed by the Company for reasonable out-of-pocket expenses incurred by Executive providing such cooperation.

  • Upon Executive becoming employed, the Employer shall pay the differential between the salary to Executive for his new employment and the Annual Salary during the remaining Term.

  • Upon Executive ceasing to be the Parent’s Chief Executive Officer for any reason, he will be deemed to have resigned from his service on the Board, unless otherwise requested by the Board at that time to remain on the Board.

  • Upon Executive executing the Mutual Release, the Company agrees to execute the same, releasing any claims it may have against Executive, his heirs, his representatives, predecessors, successors, assigns, spouses, heirs, executors and trustees as set forth in the Mutual Release.

  • Upon Executive attaining Normal Retirement Age after a determination of Disability, the Company shall distribute to the Executive, (commencing on the first day of the month following the date Executive attains the Executive’s Normal Retirement Age, and subject to the ‘Restriction on Timing of Distribution’ as defined in Section 3.5 of this Agreement) an amount equal to the balance in the Disability Account of Executive in One Hundred Twenty (120) equal monthly installments.

  • Upon Executive becoming a part-time employee of the Company on February 8, 1999 (the "Grant Date"), the Company granted to Executive, pursuant to the terms of the HSN, Inc.


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 three (3) 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 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 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 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 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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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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Related to Upon Executive

  • Non-Executive Director Means any director who is not an Executive Director.

  • 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.

  • 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.

  • 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.

  • Employment Term has the meaning specified in Section 2.

  • 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 means the person, partnership or company with whom this Contract is placed.

  • 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

  • Separation Date has the meaning set forth in the Separation Agreement.