Employee’s Interest Sample Clauses

Employee’s Interest. The Employee, or the Employee’s assignee, shall have the right to designate the Beneficiary of an amount of death proceeds as specified in this Section 2.2. The Employee shall also have the right to elect and change settlement options with respect to the Employee’s Interest by providing written notice to the Bank and the Insurer.
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Employee’s Interest. Upon the Employee’s death before Termination of Employment, the Employee shall have the right to designate the beneficiary(ies) of death proceeds in an amount determined under the schedule set forth in Appendix A to this Agreement but, in no event, an amount in excess of the Net Amount at Risk on the Employee’s date of death. Subject to the terms of this Split Dollar Agreement, the Bank hereby endorses the Employee’s Interest to the Employee and agrees to execute any other or further documents that may be required to effectuate this Split Dollar Agreement. The Employee shall have the right to elect and change settlement options specified in the Policy that may be permitted. However, the Employee, the Employee’s transferee, and the Employee’s beneficiary(ies) or estate shall have no rights or interests in the Policy for that portion of the death proceeds designated in this Section 2.2 if the Employee’s Termination of Employment occurs before the Employee’s death.
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Related to Employee’s Interest

  • Employees; Compensation The Consultant shall be solely responsible for the following:

  • Compensation of Employee Employer shall pay Employee, and Employee shall accept from Employer, in full payment for Employee's services hereunder, compensation as follows:

  • Employees; Benefits Employer agrees that any and all benefits that were provided to the Employee shall continue until _________________, 20____. In addition, the Employer shall assist the Employee in the transfer, change, or termination to any employment benefits, including, but not limited to, health insurance plans, dental insurance plans, vision insurance plans, life insurance plans, disability insurance, childcare benefits, wellness programs, retirement plans, government assistance programs, and/or any other program or benefit that was readily accessible and being used by the Employee.

  • Employment Compensation Schedule 4.16 contains a true and correct list of all employees to whom any Target is paying compensation, including bonuses and incentives, at an annual rate in excess of $100,000 for services rendered or otherwise, and, in the case of salaried employees, such list identifies the current annual rate of compensation for each employee and in the case of hourly or commission employees identifies certain reasonable ranges of rates and the number of employees falling within each such range.

  • Employees; Benefit Plans (a) Prior to the Effective Time, Parent shall take all reasonable action so that employees of the Company and its Subsidiaries who become employees of Parent and its Subsidiaries (the “Transferred Employees”) shall be entitled to participate, effective as soon as administratively practicable following the Effective Time, in each “employee benefit plan,” as such term is defined by Section 3(3) of ERISA, maintained by Parent or its Subsidiaries and any Parent Stock Plan (collectively, the “Parent Benefit Plans”) to the same extent as similarly-situated employees of Parent and its Subsidiaries (it being understood that inclusion of the employees of the Company and its Subsidiaries in the Parent Benefit Plans may occur at different times with respect to different plans and that any grants to any former employee of the Company or its Subsidiaries under any Parent Stock Plan shall be discretionary with Parent). Notwithstanding the foregoing, Parent may determine to continue any of the employee benefit plans, programs or arrangements of the Company or any of its Subsidiaries for Transferred Employees in lieu of offering participation in the Parent Benefit Plans providing similar benefits (e.g., medical and hospitalization benefits), to terminate any of such benefit plans, or to merge any such benefit plans with the Parent Benefit Plans, provided the result is the provision of benefits to Transferred Employees that are substantially similar to the benefits provided to the employees of Parent and Parent Bank generally. Parent shall cause each Parent Benefit Plan, other than the Parent Employee Stock Ownership Plan, in which Transferred Employees are eligible to participate to recognize, for purposes of determining eligibility to participate in, the vesting of benefits and for all other purposes (but not for accrual of benefits) under the Parent Benefit Plans the service of such Transferred Employees with the Company and its Subsidiaries to the same extent as such service was credited for such purpose by the Company; provided, however, that such service shall not be recognized to the extent that such recognition would result in a duplication of benefits. Notwithstanding anything to the contrary herein, Transferred Employees will be treated as “new employees” of Parent or its Subsidiaries for purposes of determining eligibility and vesting under the Parent Employee Stock Ownership Plan.

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