Death; Retirement Sample Clauses
The 'Death; Retirement' clause outlines the procedures and consequences that apply when a party to the agreement dies or retires. Typically, this clause specifies how the departing party's interests, rights, or obligations are handled, such as transferring ownership shares, settling outstanding payments, or determining the status of ongoing commitments. Its core function is to provide a clear and fair process for transitioning responsibilities and interests, thereby minimizing disputes and ensuring continuity in the event of a party's death or retirement.
Death; Retirement. The Executive’s employment shall terminate automatically upon his death or Retirement.
Death; Retirement. This Agreement shall terminate at the death or retirement of Executive. As used herein, the term "retirement" shall mean Executive's retirement in accordance with and pursuant to any retirement plan of the Employers generally applicable to Executive Officers or in accordance with any retirement arrangement established for Executive with his consent. If termination occurs for such reason, no additional compensation shall be payable to Executive under this Agreement except as specifically provided herein. Notwithstanding anything to the contrary contained herein, Executive shall receive all compensation and other benefits to which he was entitled under Section 4 through the Termination Date and, in addition, shall receive all other benefits available to him under the Bank's benefit plans and programs to which he was entitled by reason of employment through the Termination Date.
Death; Retirement. This Agreement shall be terminated upon the death of the Superintendent or upon the Superintendent’s retirement under the Teacher Retirement System of Texas.
Death; Retirement. In the event of death, retirement or dismissal of the Managing Director, the Board may at its discretion, and if necessary, appoint any other person as a Managing Director in place of the deceased, retired or dismissed Managing Director on the same or such other terms and conditions as the Board may deem fit.
Death; Retirement. This Agreement shall be terminated upon the death of the Superintendent.
Death; Retirement. This CEO Contract shall be terminated upon the death or retirement of the CEO.
Death; Retirement. This Agreement shall terminate
Death; Retirement or Insanity of a Member of the General Partner.
Death; Retirement. This Contract shall be terminated upon the death or retirement of the Superintendent.