Early Retirement Notice Sample Clauses

Early Retirement Notice. Employees who inform the Board of their June 30th retirement by January 15th of that year shall receive an additional total of $1,000.00 in salary disbursed in installments over each pay during their final five (5) months of service. Employees who inform the Board of their retirement at least six (6) months in advance of a retirement date other than June 30th will have a one-time additional
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Early Retirement Notice. Employees providing notice of retirement at least five months in advance of their actual retirement date, but no later than February 1 of the school year, shall be eligible for a $500 bonus payment. Employees submitting notice of retirement to receive this payment understand that District acceptance of their notice is irrevocable. Payment will be made in the employee’s final check. One bargaining unit member’s survivor shall receive this stipend if the employee dies after making the early retirement notice without first receiving the stipend.
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Early Retirement Notice. At such time as the Bank and its Affiliates have repaid all financial assistance received pursuant to the Act and have determined that all payments provided for in this Agreement may be paid to Xxxxxx-Xxxxx without violating EESA, the Bank shall give notice to Xxxxxx-Xxxxx stating that such restrictions no longer apply and offering Xxxxxx-Xxxxx the opportunity to promptly retire from employment with the Bank (“Early Retirement”). If, within five (5) business days of Xxxxxx-Xxxxx’x receipt of such notice, Xxxxxx-Xxxxx gives the Bank notice stating her decision to take Early Retirement, the Term shall terminate upon the Bank’s receipt of such notice or upon such later date upon which the parties may mutually agree (with such date of Early Retirement being the “Termination Date” for purposes of applying the Employment Agreement). If Xxxxxx-Xxxxx elects Early Retirement in accordance with this Section 2, she will be relieved of the requirement otherwise imposed by Section 7.5 of the Employment Agreement to give ninety (90) days notice of termination. If Xxxxxx-Xxxxx fails to give notice of Early Retirement within the five (5) business day period specified above, she shall thereafter have no further right to elect Early Retirement or to receive any of the benefits of Early Retirement provided by this Agreement, and the provisions of this Agreement shall be deemed null and void. The parties agree that time is of the essence with respect to Xxxxxx-Xxxxx’x right to elect Early Retirement.
Sample 1

Related to Early Retirement Notice

  • Early Retirement Age The age set by the Employer in the Adoption Agreement, not less than age fifty-five (55), at which a Participant becomes fully vested and is eligible to retire and receive his or her benefits under the Plan.

  • Early Retirement Date Early Retirement Date shall mean a retirement from employment which is effective prior to the Normal Retirement Age stated herein, provided the Executive has attained age sixty (60) with thirty (30) years of service with the bank.

  • Early Retirement An employee entitled to twenty-five (25) or more days of annual vacation shall be entitled to defer up to five (5) days per year of vacation into an Early Retirement Bank. An employee entitled to thirty (30) or more days of annual vacation shall be entitled to defer up to ten (10) days per year of vacation into an Early Retirement Bank. Such deferred vacation may only be taken immediately prior to retirement. The Employer may, at its sole discretion, permit an employee to use such banked vacation under other circumstances.

  • Early Retirement Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

  • Early Retirement Benefit Upon Termination of Service prior to the Normal Retirement Age for reasons other than death, Change of Control or Disability, the Company shall pay to the Director the benefit described in this Section 4.2 in lieu of any other benefit under this Agreement.

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

  • Normal Retirement Age Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65).

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

  • Early Retirement Incentive The Employer may offer to any faculty member or a faculty member may apply for one of the early retirement incentive alternatives described herein, provided the faculty member meets the following criteria. The Union shall be advised in writing of any offer of early retirement made to a faculty member.

  • Retirement Age It is assumed that an employee terminates employment at the end of the school year in which the employee attains age 58 or at the end of the current year, if the individual is already 58 or older.

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