Distribution on Termination of Employment Sample Clauses

Distribution on Termination of Employment. (1) If a Participant ceases to be an Employee under circumstances other than those covered by Sections 6.3 and 6.4, the vested portion of his Account, after any applicable deduction from such Account pursuant to the Plan's loan repayment provisions, shall be distributed in accordance with this Section, except that if a Participant to whom this Section applies dies before his vested Account balance has been distributed, Section 6.4 shall govern this distribution of the vested portion of his Account.
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
Distribution on Termination of Employment. When a Member’s employment terminates for any reason, the Vested Percentage of the balance of his respective Accounts shall be distributed to him (or, if distribution is being made by reason of death, or after his death following Termination of Employment, to his Beneficiary). Such distribution shall be made in accordance with the provisions of Article VIII. Any portion of a Member’s Accounts not so distributable shall be treated as provided in Sections 4.3 and 4.4.
Sample 1
Distribution on Termination of Employment. 9.1 Determination of Vested Interest 9.2 Years of Service for Vesting Purposes 9.3 Cashing-Out Rule 9.4 Recoupment (Buy-Back) Rule 9.5 Overriding Rule As To Determination of Vested Interest Article 10 - METHOD AND MEDIUM OF PAYMENT OF BENEFITS
Sample 1

Related to Distribution on Termination of Employment

  • Payments Upon Termination of Employment (a) If Executive's employment with the Company is terminated by reason of:

  • Other Termination of Employment In the event of your voluntary termination (other than a Retirement subject to Section 2(c) or a Qualifying Termination subject to Section 2(f)), or termination by the Company or a subsidiary of the Company for misconduct or other conduct deemed by the Company to be detrimental to the interests of the Company or a subsidiary of the Company, you shall forfeit all unvested RSUs on the date of termination.

  • Compensation Upon Termination of Employment If the Executive’s employment hereunder is terminated, in accordance with the provisions of Article III hereof, and except for any other rights or benefits specifically provided for herein to be effective following the Executive’s period of employment, the Company will provide compensation and benefits to the Executive only as follows:

  • Benefits Upon Termination of Employment If the Executive is entitled to benefits pursuant to this Section 2, the Company agrees to pay or provide to the Executive as severance payment, the following:

  • Term; Termination of Employment The term of this Agreement (the “Term”) begins on the Effective Date and will end, along with Executive’s employment with the Company, on the earliest to occur of the following events.

  • Compensation Following Termination of Employment In the event that Executive's employment hereunder is terminated, Executive shall be entitled to the following compensation and benefits upon such termination:

  • Term and Termination of Employment (a) This Agreement shall be effective as of the Effective Date.

  • Early Termination of Employment In addition to any Termination of Employment of Executive as a Retired Early Employee under Paragraph 6 of this Agreement, a Termination of Employment of Executive may occur prior to the normal expiration of the Term under the circumstances and with the consequences set forth below.

  • Exercise After Termination of Employment (A) Except as otherwise provided in this Agreement, the OPTION shall be exercisable only while the OPTIONEE is in the employment of the COMPANY and then only if the OPTION has become exercisable by its terms, and if not exercisable by its terms at the time the OPTIONEE ceases to be in the employment of the COMPANY, shall immediately expire on the date of termination of employment.

  • Severance Compensation upon Termination of Employment If the Company shall terminate the Executive’s employment other than pursuant to Section 5(a), (b) or (c) or if the Executive shall terminate his employment for Good Reason, then the Company shall pay to the Executive as severance pay in a lump sum, in cash, on the fifth day following the Date of Termination, an amount equal to three (3) times the average of the aggregate annual compensation paid to the Executive during the three (3) fiscal years of the Company immediately preceding the Change of Control by the Company subject to United States income taxes (or, such fewer number of fiscal years if the Executive has not been employed by the Company during each of the preceding three (3) fiscal years).

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!