Death or Retirement. 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 at least ten years of service.
Death or Retirement. This Employment Agreement will terminate upon the Executive’s death or retirement.
Death or Retirement. At the time of separation from school district employment due to retirement or death, an eligible employee, or the employee’s estate, shall receive remuneration at a rate equal to one (1) day’s current monetary compensation of the employee for each four (4) full day’s accrued sick leave for illness or injury up to 180 days.
Death or Retirement. The Employee's employment under this Agreement will be deemed to have terminated without further liability on the part of the Employer if the Employee dies or retires.
Death or Retirement. Employee's employment shall terminate upon his death or retirement.
Death or Retirement. (a) In the event of the death or retirement of a member, longevity due for that year will be paid through the date of death or retirement on the same basis as partial year payment computations. It will not be paid on any terminal pay, but will be paid as a lump sum with any earned terminal pay.
(b) If a member's employment date falls from the first through the fifteenth of the month, longevity will be computed from the first of that month
(c) If a member's employment date falls from the sixteenth through the last day of the month, longevity will be computed from the first of the next month.
Death or Retirement. Section 2 to the contrary notwithstanding, if you incur a Separation from Service because you die or because of Retirement, the right will only be exercisable to the extent it was exercisable under Section 2(a) on the date of your death or on the date of your Retirement. Notwithstanding Section 2, in the event of your Separation from Service because you die or because of Retirement, your personal representative or you, respectively, may exercise the exercisable portion of the right hereby granted for 1 year following the Separation from Service (but not later than 6 years from the date of grant). Retirement means a separation from service upon attainment of age 65 or, in those countries in which the law determines retirement age, such applicable age.
Death or Retirement. In the event of the death or retirement of an employee, longevity due for that year will be paid through the date of death or retirement on a pro- rata basis through that date. It will not be paid on any terminal pay, but will be paid as a lump sum with any earned terminal pay.
Death or Retirement. Upon retirement, pursuant to the regulations of the Town of Concord Retirement System, each employee employed prior to September, 1982 who draws a pension from the Town of Concord shall be paid for 50% of his/her accumulated, unused sick leave to a maximum of sixty-two (62) paid days (50% of 124 days of accumulates sick leave).* This payment for unused sick leave will be made in one (1) payment, unless the employee indicates in writing that payment shall be made in four (4) equal annual payments in January, commencing with the January following retirement. An employee who voluntarily takes deferred retirement is not eligible for this pay for accumulated sick leave. Accumulated sick leave shall be converted to equivalent eight (8) hour days and the employee shall be paid on the basis of his/her hourly rate in effect at his/her retirement. Upon the death or permanent disability of an employee, payment for unused sick leave in accordance with the above formula will be made to the employee or his/her beneficiary. If the employee fails to name a beneficiary who survives his/her payment shall be made to his/her estate. Employees hired after September 15, 1982 are not entitled to any payment for unused sick leave upon death, permanent disability or retirement.
Death or Retirement. The Term of Employment and Employee’s employment under this Agreement automatically shall be terminated upon his death during the Term of Employment or upon the effective date of Employee’s “Retirement.” Upon any such termination, Employee (or, in the case of Employee’s death, his estate) shall be entitled to receive any compensation Employee shall have earned prior to the date of termination but which remains unpaid. “Retirement” shall mean any termination of Employee’s employment with the Bank which is treated as a retirement (whether early, normal or delayed retirement) under the terms of any qualified retirement benefit plan generally applicable to the Bank’s salaried employees and in which Employee is a participant, or any other termination of employment that Employee and the Bank mutually agree in writing to treat as a Retirement.
