Cessation of Benefits. An employee shall cease to be eligible for benefits of this Plan at the earliest of the following dates:
(a) at the end of the month in which the employee turns 65;
(b) on the date of commencement of paid absence prior to retirement;
(c) on the date of termination of employment with the Commission. Benefits will not be paid when an employee is serving a prison sentence. Cessation of active employment as a regular employee shall be considered termination of employment except when an employee is on authorized leave of absence with or without pay.
Cessation of Benefits. All company benefits not expressly extended to you pursuant to this Agreement shall be terminated effective 12:01 a.m. on the day after the Employment Termination Date.
Cessation of Benefits. Your Salary Continuation Period will immediately terminate, and all salary continuation payments and Company-paid Health Care Coverage will immediately cease, should you:
(a) own, manage, operate, join, control or participate in the ownership, management, operation or control of, or be employed by or connected in any manner with, any enterprise which is engaged in any business directly competitive with that of the Company; PROVIDED, however, that such restriction will not apply to any passive investment representing an interest of less than two percent (2%) of an outstanding class of publicly-traded securities of any corporation or other enterprise;
(b) encourage or solicit any of the Company's employees to leave the Company's employ for any reason or interfere in any other manner with employment relationships at the time existing between the Company and its employees; or
(c) induce any of the Company's clients, customers, suppliers, vendors, distributors, licensors or licensees to terminate their existing business relationships with the Company or interfere in any other manner with any existing business relationship between the Company and any client, customer, supplier, vendor, distributor, licensor, licensee or other third party. PART FOUR -- MISCELLANEOUS
Cessation of Benefits. Employee’s eligibility to participate in any of the Company Group’s benefits and plans shall cease effective as of the applicable Termination Date. To the extent that Employee and Employee’s spouse and/or eligible dependents (as applicable) participate in any of the Company Group’s group medical and/or dental plans as of the Termination Date, Employee and Employee’s spouse and eligible dependents (as applicable) may be eligible to continue such coverage following the Termination Date pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”); provided, however, that the election of, and the payment of any premiums due with respect to, such COBRA continuation coverage shall remain Employee’s sole responsibility, and, except to the extent provided in Section 3.4.2.3 and Section 3.4.3(C), the Company shall not assume any obligation for payment of any such premiums relating to such COBRA continuation coverage.
Cessation of Benefits. Benefits shall cease upon the earlier of any one of the following:
i) When benefit payments have continued for a period as described under section entitled "Benefit Period";
ii) When the employee ceases to be disabled as defined under the section entitled "Definition of Disability";
iii) When the employee retires under one of the early retirement options in the Xxxxxx Pension Plan;
iv) When the employee dies;
v) When the employee attains age 65.
Cessation of Benefits. In the event of a material breach by the Executive of any of the Executive’s obligations under the Executive’s Proprietary Information and Inventions Agreement with the Company, the Executive shall cease to be entitled to any further benefits under Part Two of this Agreement, including (without limitation) any severance payment or continued health care coverage at the Company’s expense. In no event shall the Executive be entitled to any benefits under Part Two of this Agreement if the Executive’s employment ceases by reason of a Termination for Cause or if the Executive voluntarily resigns other than for Good Reason.
Cessation of Benefits. Notwithstanding the foregoing, no service of the Executive for Elco after age 65 shall be taken into account for purposes of determining the Executive's benefits under this Agreement.
Cessation of Benefits. Benefits shall cease upon the earlier of any one of the following:
1. When the benefit period has expired for the particular disability or pregnancy;
2. When the employee ceases to be disabled as defined under the section entitled "Definition of Disability";
3. When the employee returns to work;
4. The date the employee is certified capable of returning to work by a licensed doctor of medicine;
5. When the employee retires;
6. When the employee terminates their employment, except for pregnancy as described under the section entitled "Benefit Period".
Cessation of Benefits. In the event that (i) Employee materially breaches Employee's agreements contained herein after a severance benefit becomes payable hereunder and such breach is not cured to Employer's satisfaction within ten (10) days of written notice thereof, (ii) Employee asserts in any litigation that the Restrictive Covenants or the Employee Release is unenforceable for any reason, or (iii) facts come to the attention of the Employer which prove Employee, while employed by Employer, was guilty of committing an act involving embezzlement, misappropriation, theft or fraud, in addition to any other remedy which Employer may have as a result thereof, Employer shall be entitled to stop paying any severance benefit then not paid and recover from Employee the payment of any severance benefits already paid to Employee hereunder.
Cessation of Benefits. All other benefits and the Officer’s eligibility to participate in any other Grainger employee programs will cease as of the Separation Date, except as provided or referenced in this Agreement. The amounts and benefits payable to the Officer under this Agreement shall be in lieu of any amounts or benefits otherwise provided under any severance plan or policy of Grainger.
