Board Retirement Sample Clauses

Board Retirement. From the established Salary Schedule of Creditable Earnings (Appendix I) and the Additional Pay Schedule (Appendix II), the Board of Education has agreed to pay the Teachers' Retirement System on behalf of each teacher the full amount of the teacher's contribution to the Teachers' Retirement System. The Board will continue to pay TRS from future established salary schedules, on behalf of each teacher, the pension from the teacher's respective scheduled earnings. Should any of the above be declared improper by an IRS ruling or opinion, that clause or portion thereof shall be deleted from the Agreement to the extent that it violates the ruling or opinion. Retirement amounts shall be withheld from the stated amounts in Appendices I and II.
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Board Retirement. The permanent substitute shall participate in the Teachers' Retirement System in accordance with the provisions of this section of the contract. Whenever practical, a memo will be sent to all department heads inviting them to participate in the recruitment, selection, and evaluation of the permanent substitute. If a regular teaching position becomes available and the permanent substitute is qualified for that position, the permanent substitute may make application and shall be considered for said position. Normally, a permanent substitute shall not be assigned to a regular teaching position when a regularly employed teacher is on extended leave. However, if the permanent substitute is fully qualified for the position and is assigned for more than twenty (20) school days, the permanent substitute shall be paid in accordance with the provisions of the current Salary Schedule on a per diem basis covering that period of leave.
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Board Retirement. Executive shall continue to serve as Chairman of the Board from the Effective Date through the CEO Retirement Date. Effective as of the CEO Retirement Date, Executive shall serve as Non-Executive Chairman of the Board through the Board Retirement Date. Effective as of the Board Retirement Date, Executive hereby resigns as a member of the Board, including as Non-Executive Chairman of the Board.
Sample 1
Board Retirement. The permanent substitute shall participate in the Teachers' Retirement System in accordance with the provisions of this section of the contract. Whenever practical, a memo will be sent to all department heads inviting them to participate in the recruitment, selection, and evaluation of the permanent substitute. If a regular teaching position becomes available and the permanent substitute is qualified for that position, the permanent substitute may make application and shall be considered for said position.
Sample 1
Board Retirement. [****]. Although your employment with the Company may continue through the Separation Date, you agree to voluntarily retire from the Board effective at the close business, Arizona time, on December 31, 2022. Upon your retirement from the Board, (a) the Company will pay you a lump sum payment equal to $400,000.00 in recognition of your service, which will be subject to applicable deductions required by law and will be paid upon your retirement from the Board (i.e., December 31, 2022), and (b) you will be eligible to receive additional incentive compensation, the amount of which is dependent upon [****]. If [****], the Company will pay you a lump sum payment equal to fifty percent (50%) of [****], subject to a cap of $200,000.00, which payment will be subject to applicable deductions required by law and will be paid within sixty (60) days after [****]. In exchange for the payment of the $400,000.00 discussed in the paragraph above, and as a condition of receipt of any such payment, you agree to execute no later than December 31, 2022, and not to revoke the release attached hereto, of any and all claims against the Company and any parent, subsidiary, affiliate or other related party with respect to all matters arising out of your [****]=[CONFIDENTIAL PORTION HAS BEEN OMITTED BECAUSE IT (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED] Xxxx X. Xxxxx Amtech Systems, Inc. August 4, 2022 employment, or termination thereof (a “Release”). Should you, for whatever reason, fail to execute, or you revoke, the Release, you shall not be entitled to any portion of the compensation discussed in this paragraph, and you further acknowledge and agree that your entitlement to any future such amounts shall be forfeited.
Sample 1

Related to Board Retirement

  • Deferred Retirement a. An employee who is eligible for paid retirement at the time he or she separates from County service, but elects deferred retirement, may defer participation in the Grant until such time as he or she becomes an active retiree. b. An otherwise eligible employee who is not eligible for paid retirement at the time he or she separates from County service but is eligible for and elects deferred retirement shall not become eligible for participation in the Grant.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Resignation and Retirement Any Trustee may resign his trust or retire as a Trustee, by written instrument signed by him and delivered to the other Trustees or to any officer of the Trust, and such resignation or retirement shall take effect upon such delivery or upon such later date as is specified in such instrument.

  • Normal Retirement Normal Retirement Age under the Plan is: (Choose (a) or (b)) [X] (a) 65 [State age, but may not exceed age 65].

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Severance and Retirement Options (i) Where an employee resigns within 30 days after receiving notice of layoff pursuant to article 14.02 (a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of sixteen (16) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars. (ii) Where an employee resigns later than 30 days after receiving notice pursuant to article 14.02(a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four (4) weeks' salary, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ($1,250) dollars. (b) Prior to issuing notice of layoff pursuant to article 14.02(a)(ii) in any classification(s), the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under HOOPP within the classification(s) in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the classification(s) who would otherwise receive notice of layoff under article 14.02(a)(ii). Within thirty (30) days from the date of notice of layoff, an employee who has received notice of layoff of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks’ pay for each year of service with the Hospital to a maximum of fifty-two (52) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to $1,000.00 for every year less than age 65, to a maximum of $5,000.00.

  • Death, Retirement or Disability Executive’s employment shall terminate automatically upon Executive’s death or Retirement during the Employment Period. For purposes of this Agreement, “Retirement” shall mean normal retirement as defined in the Company’s then-current retirement plan, or if there is no such retirement plan, “Retirement” shall mean voluntary termination after age 65 with ten years of service. If the Company determines in good faith that the Disability of Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to Executive written notice of its intention to terminate Executive’s employment. In such event, Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such written notice by Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, Executive shall not have returned to full-time performance of Executive’s duties. For purposes of this Agreement, “Disability” shall mean a mental or physical disability as determined by the Board of Directors of the Company in accordance with standards and procedures similar to those under the Company’s employee long-term disability plan, if any. At any time that the Company does not maintain such a long-term disability plan, “Disability” shall mean the inability of Executive, as determined by the Board, to perform the essential functions of his regular duties and responsibilities, with or without reasonable accommodation, due to a medically determinable physical or mental condition which has lasted (or can reasonably be expected to last) for twelve workweeks in any twelve-month period. At the request of Executive or his personal representative, the Board’s determination that the Disability of Executive has occurred shall be certified by two physicians mutually agreed upon by Executive, or his personal representative, and the Company. Failing such independent certification (if so requested by Executive), Executive’s termination shall be deemed a termination by the Company without Cause and not a termination by reason of his Disability.

  • Supplemental Executive Retirement Plan The Executive shall participate in the Company's Unfunded Pension Plan for Selected Executives (the "SERP").

  • Termination Due to Retirement Subject to Section 7 below, in the event of Termination due to Retirement, then (regardless of any subsequent death of the Employee) the Option will continue to vest pursuant to Section 3, and the last date on which the Option may be exercised is the day prior to the Expiration Date.

  • Death or Retirement Executive’s employment shall terminate automatically upon Executive’s death or Retirement during the Term. For purposes of this Agreement, “Retirement” shall mean normal retirement as defined in the Company’s then-current retirement plan, or if there is no such retirement plan, “Retirement” shall mean voluntary termination after age sixty-five (65) with at least ten (10) years of service.

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