Effect of [Retirement or] Leave of Absence Sample Clauses

Effect of [Retirement or] Leave of Absence. If Executive’s employment with the Corporation and its Subsidiaries is terminated prior to the end of the Vesting Period by reason of Executive’s Retirement, then any Shares of Restricted Stock which are not vested on the date of Executive’s Retirement will be forfeited to the Corporation on the date of such Retirement, unless the Compensation Committee in its sole and exclusive discretion determines otherwise. A leave of absence which is approved in writing by the Compensation Committee with specific reference to this Agreement will not be considered a termination of Executive’s employment with the Corporation and its subsidiaries for purposes of this Section 4 or any other provision of this Agreement.
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Effect of [Retirement or] Leave of Absence. [If Executive’s employment with the Corporation and its Subsidiaries is terminated by reason of Executive’s retirement after attainment of [age __ and __ years of Service] [age __, ][then any RSUs which are not vested at the time of such retirement will become vested automatically][will not be forfeited and will paid to the Executive in accordance with the schedule set forth in Section 2(a) above]. A leave of absence which is approved in writing by the Compensation Committee with specific reference to this Agreement will not be considered a termination of Executive’s employment with the Corporation and its Subsidiaries for purposes of this Section 2 or any other provision of this Agreement.
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Effect of [Retirement or] Leave of Absence. [If Executive’s employment with the Corporation and its Subsidiaries is terminated by reason of Executive’s retirement after attainment of [age and years of Service] [age , then any PSUs which are not vested at the time of such retirement will become vested automatically as set forth in Section 2(g) below.] A leave of absence which is approved in writing by the Compensation Committee with specific reference to this Agreement will not be considered a termination of Executive’s employment with the Corporation and its Subsidiaries for purposes of this Section 2 or any other provision of this Agreement.
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Effect of [Retirement or] Leave of Absence. If Executive’s employment with the Corporation and its Subsidiaries is terminated by reason of Executive’s retirement after attainment of age 62 and 15 years of Service, then any RSUs which are not vested at the time of such retirement will become vested automatically. A leave of absence which is approved in writing by the Compensation Committee with specific reference to this Agreement will not be considered a termination of Executive’s employment with the Corporation and its Subsidiaries for purposes of this Section 2 or any other provision of this Agreement.
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Effect of [Retirement or] Leave of Absence. [If Executive’s employment with the Corporation and its Subsidiaries is terminated by reason of Executive’s retirement after attainment of [age and years of Service] [age , then any MRSUs which are not vested at the time of such retirement will become vested automatically as set forth in Section 2(g) below.] A leave of absence which is approved in writing by the Compensation Committee with specific reference to this Agreement will not be considered a termination of Executive’s employment with the Corporation and its Subsidiaries for purposes of this Section 2 or any other provision of this Agreement.
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Effect of [Retirement or] Leave of Absence. [If Executive’s employment with the Corporation and its Subsidiaries is terminated by reason of Executive’s Retirement, then any Shares of Restricted Stock which are not vested at the time of such Retirement will become vested automatically. For purposes of this Agreement, “Retirement” is defined as Executive’s termination of employment after attaining age 65.] A leave of absence which is approved in writing by the Compensation Committee with specific reference to this Agreement will not be considered a termination of Executive’s employment with the Corporation and its subsidiaries for purposes of this Section 4 or any other provision of this Agreement.
Sample 1
Effect of [Retirement or] Leave of Absence. If Transferee's employment with the Company and its Subsidiaries is terminated by reason of Transferee's Retirement, and the Restricted Units have previously vested, Transferee shall retain such Units. If at the time of such termination the Restricted Units have not vested, they will be forfeited to the Company, unless the Compensation Committee in its sole and exclusive discretion determines otherwise. A leave of absence which is approved in writing by the Compensation Committee with specific reference to this Agreement will not be considered a termination of Transferee's employment with the Company and its Subsidiaries for purposes of this Section 4 or any other provision of this Agreement.
Sample 1
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Effect of [Retirement or] Leave of Absence. [If Executive’s employment with the Corporation and its Subsidiaries is terminated by reason of Executive’s Retirement, Executive will receive the Shares of Restricted Stock that are vested on the date of Executive’s Retirement. For purposes of this Agreement, “Retirement” shall mean Executive’s separation of employment [after attaining age 62 with 15 years of service] [after attaining age 65]. Any Shares of Restricted Stock which are not vested on the date of Executive’s Retirement will become vested automatically.] A leave of absence which is approved in writing by the Compensation Committee with specific reference to this Agreement will not be considered a termination of Executive’s employment with the Corporation and its subsidiaries for purposes of this Section 4 or any other provision of this Agreement.
Sample 1

Related to Effect of [Retirement or] Leave of Absence

  • Return from Leave of Absence (a) Before a Nurse may return to work from a leave granted under Article 9.00, she or he must provide a minimum of four (4) weeks written notice of the specific date of his or her return to work, or such shorter time as mutually agreed. (b) Upon return from an approved Unpaid Leave of Absence, a Nurse shall be reinstated to her or his former position unless the position has been discontinued, in which case the Nurse shall be appointed to an equivalent position. (c) This clause requiring four (4) weeks written notice, does not apply to other leaves granted by an express provision of this Collective Agreement with different requirements for written notice.

  • Death, Retirement or Disability 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 ten years of service. If the Company determines in good faith that the Disability of Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to Executive written notice of its intention to terminate Executive’s employment. In such event, Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such written notice by Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, Executive shall not have returned to full-time performance of Executive’s duties. For purposes of this Agreement, “Disability” shall mean a mental or physical disability as determined by the Board of Directors of the Company in accordance with standards and procedures similar to those under the Company’s employee long-term disability plan, if any. At any time that the Company does not maintain such a long-term disability plan, “Disability” shall mean the inability of Executive, as determined by the Board, to perform the essential functions of his regular duties and responsibilities, with or without reasonable accommodation, due to a medically determinable physical or mental condition which has lasted (or can reasonably be expected to last) for twelve workweeks in any twelve-month period. At the request of Executive or his personal representative, the Board’s determination that the Disability of Executive has occurred shall be certified by two physicians mutually agreed upon by Executive, or his personal representative, and the Company. Failing such independent certification (if so requested by Executive), Executive’s termination shall be deemed a termination by the Company without Cause and not a termination by reason of his Disability.

  • ARTICLE LEAVE OF ABSENCE The Employer, may, in its discretion, grant a leave of absence with or without pay to any employee for education personal reasons. Request for leave of absence shall be in writing and submitted to his supervisor who will forward the same to the designated Human Resources representative for approval. An employeeshall not be required to use his accumulated vacation before requesting a leave of absence for non-vacation purposes. The Employer shall grant leaves of absence without pay to up to four (4) employees to attend Union conventions or seminars, provided that: such leave does not unduly interfere with the operation requirements of the Employer; the total leave of absence granted hereunder shall not exceed twenty-five working days per year of the agreement; not more than one (1) employee from any program unit may receive leave hereunder at any one time and; the Union gives fourteen (14) clear notice of such leave to the Employer. Leave of absence due to pregnancy and/or parental leave shall be granted in accordance with the requirements of the Standards Act of Ontario If an employee who has completed his probationary period is required to serve as a juror, he shall not lose his regular pay because of such attendance provided he notifies his supervisor immediately upon notification that he will be required to serve as a juror, presents proof of service and promptly pays to the Employer any amounts paid to him for such service. Employees absent from work for any continuous period of fifteen (15) calendar days or more other than a period of vacation leave or paid sick leave shall not earn vacation or sick leave credits during the period of any such absence and anniversary dates shall be adjusted accordingly except as specified in Article In addition, the Employer shall not be required to contribute to the payment of health and welfare benefits during any such absence. Employees who desire to maintain health and welfare benefits through the Employer must arrange payments of premiums for all such benefits and pay all such premiums through the Employer before commencing any absence. Notwithstanding the preceding paragraph, it is agreed that the Employer shall maintain health and welfare benefits for employees who are off work on Long Term Disability or Workplace Safety and Insurance Board Benefits for a period of up to one (1) year from the date such employee ceased working for the Employer provided the employee pays his portion of the health and welfare benefits premium. An employee shall be entitled to paternity leave which shall consist of one (1)day with pay and two (2) days without pay.

  • Death, Disability or Retirement Subject to the provisions of Section 1 hereof, this Agreement shall terminate automatically upon the Executive's death, termination due to "Disability" (as defined below) or voluntary retirement under any of the Company's retirement plans as in effect from time to time. For purposes of this Agreement, Disability shall mean the Executive has met the conditions to qualify for long-term disability benefits under the Company's policies, as in effect immediately prior to the Effective Date.

  • Retirement or Disability If you retire under the terms of any qualified pension plan provided by the Company or one of its subsidiaries, or if you are totally and permanently disabled, the Option may be exercised as to the total number of shares subject to the Option (without regard to the exercise schedule set forth in paragraph 4) at any time within one year after the date of retirement or disability retirement, but not after the Expiration Date.

  • Maternity Disability Leave Parental Leave

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

  • General Leave of Absence a) Leave of absence without pay may be granted to employees for valid reasons as set out by Company policy. b) An employee on general leave of absence shall not accumulate sick leave credits, or earn vacation but shall retain the seniority, sick leave credits, and vacation credits earned prior to commencing leave of absence. c) Employees do not have the option of continuing their benefit coverage during the leave. d) Employees on leave of absence shall be required to apply for any extension.

  • Personal Leave of Absence The Administrator may grant a request for leave of absence for personal reasons without pay provided that he receives at least one (1) month's clear notice, in writing, unless impossible, and provided that such leave may be arranged without undue inconvenience to the normal operations of the Nursing Home. Employees when applying for such leave shall indicate the proposed date of departure and return. Such leave shall not be unreasonably withheld.

  • Termination on Death or Disability If the employment of the Executive is terminated due to the Executive’s death or Disability, the Company shall have no further liability or further obligation to the Executive except that the Company shall pay or provide to the Executive (or, if applicable, the Executive’s estate or designated beneficiaries under any Company-sponsored employee benefit plan in the event of his death) the following compensation and benefits: (i) The Accrued Obligations, at the times provided and subject to the conditions set forth in Section 8(a)(i) above; (ii) An amount equal to the Cash Bonus at the Target Percentage for which the Executive is eligible for the year in which the Executive’s death or Disability occurs, prorated for the portion of such year during which the Executive was employed by the Company prior to the Executive’s death or termination of employment due to Disability (less any payments in respect of such Cash Bonus related to that performance year received by the Executive during such year), such amount to be paid within thirty (30) days after the Executive’s death or such termination of employment due to Disability; (iii) Any and all outstanding Unvested Shares shall immediately vest and any restrictions thereon shall immediately lapse upon the Executive’s death or termination of employment due to Disability (the acceleration of any other equity incentives granted to the Executive under any equity incentive plan of the Guarantor in connection with the termination of the Executive’s employment due to death or Disability shall be governed by the applicable plan and related grant documents); and (iv) If the Executive is eligible for and elects to receive continued coverage under the Company’s medical and health benefits plan(s) in accordance with the provisions of COBRA for the Executive and, if applicable, the Executive’s eligible dependents, or if the Executive’s eligible dependents are eligible for such continued coverage due to the Executive’s death, then the Company shall reimburse the Executive or such dependents for a period of eighteen (18) months following the Executive’s termination of employment due to death or Disability (or, if less, for the period that the Executive or any such dependent is eligible for such COBRA continuation coverage) for the excess of (A) the amount that the Executive or any such dependent is required to pay monthly to maintain such continued coverage under COBRA, over (B) the amount that the Executive would have paid monthly to participate in the Company’s group health benefits plan(s) had the Executive continued to be an employee of the Company.

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