Employment Condition Sample Clauses
An Employment Condition clause sets specific requirements that must be met for an employment agreement to become effective or for the employee to commence work. These conditions may include passing background checks, obtaining necessary licenses, or completing mandatory training before the employment officially begins. By clearly outlining these prerequisites, the clause ensures that both the employer and employee understand the obligations that must be fulfilled prior to starting the employment relationship, thereby reducing the risk of disputes or misunderstandings.
Employment Condition. The Participant must be employed by the Employer on the last day of the Plan Year, irrespective of whether he satisfies any Hours of Service condition under Option (d), with the following exceptions: (Choose (1) or at least one of (2) through (5))
Employment Condition. Employment condition" means any limitation on continuous employment caused by the number of hours of work assigned to an employee, and his/her appointment status. Hours of work may be full time, part time, or intermittent. Appointment status may be unlimited, temporary, emergency, or seasonal.
Employment Condition. The employment condition of Section 3.06 is effective for Plan Years beginning after _____________________________.
Employment Condition. An Employee must be employed with the Employer on the last day of the Plan Year.
Employment Condition. 4.1 In order to receive the full number of Performance Shares determined under Section 2 or Section 3, Recipient must be employed by the Company on the last day of the Award Period.
4.2 If Recipient’s employment by the Company is terminated at any time prior to the end of the Award Period because of death, physical disability (within the meaning of Section 22(e)(3) of the Code), or Retirement (unless such Retirement results from a termination of Recipient’s employment by the Company for Cause), Recipient shall be entitled to receive pro-rated awards. The number of each type of Performance Shares to be issued or otherwise delivered as a pro-rated award shall be determined by multiplying the number of Performance Shares determined under Section 2 or Section 3 by a fraction, the numerator of which is the number of days Recipient was employed by the Company during the Award Period and the denominator of which is the number of days in the Award Period.
4.3 If Recipient’s employment by the Company is terminated at any time prior to the end of the Award Period and Section 4.2 does not apply to such termination, Recipient shall not be entitled to receive any Performance Shares.
Employment Condition. 3.1 In order to receive the full number of Performance Shares determined under Section 2, the Employee must not have a Termination of Employment (as defined below) prior to the last day of the Performance Period (the “Vesting Date”).
3.2 If the Employee has a Termination of Employment prior to the Vesting Date as a result of Total Disability, Death or Retirement as such terms are defined in Sections 6.1-4(b), 6.1-4(c) and 6.1-4(f), respectively, of the Plan, the Employee or beneficiary shall be entitled to receive an award payout following the completion of the Performance Period as determined under this Agreement based on a reduced Target Share Amount. The Target Share Amount following Total Disability, Death or Retirement of the Employee shall be determined by multiplying the Target Share Amount before such event by a fraction, the numerator of which is the number of days in the period starting on the first day of the Performance Period and ending on the date of the Employee’s Termination of Employment and the denominator of which is the number of days in the Performance Period.
3.3 If the Employee has a Termination of Employment prior to the Vesting Date, other than by reason of Total Disability, Death or Retirement, the Employee shall forfeit all rights to receive any Performance Shares.
3.4 A “Termination of Employment” shall be deemed to occur on the date on which the Employee ceases to be employed on a continuous full time basis by the Company or a subsidiary of the Company for any reason or no reason, with or without cause. The Employee shall not be treated as having a Termination of Employment during the time the Employee is receiving long term disability benefits provided by the Company or a subsidiary of the Company, unless the Employee has received formal written notice of termination.
Employment Condition. Employment condition is the combination of the hours of work and appointment status as defined in A and B below.
Employment Condition. Except as set forth in Section 2.3 below, vesting of the TSR Award is expressly conditioned upon Employee being continuously employed by the Company or any of its Subsidiaries or Affiliates during the entire Performance Period, including without limitation, the last day of the Performance Period.
Employment Condition. The Participant must be employed by the Employer on the last day of the Plan Year, irrespective of whether he satisfies any Hours of Service condition under Option (d), with the following exceptions: (Choose (1) or at least one of (2) through (5)) [n/a] (1) No exceptions. [n/a] (2) Termination of employment because of death. [n/a] (3) Termination of employment because of disability. [n/a] (4) Termination of employment following attainment of Normal Retirement Age. [n/a] (5) No employment condition for the following contributions: _____. [n/a] (f) (Specify other conditions, if applicable): _____.
Employment Condition. 3.1 Except as provided in Sections 3.2, 3.3 or 7.2, in order to receive a payout of Performance Shares, Recipient must be employed by the Company or any parent or subsidiary of the Company (the “Employer”) on the last day of the Award Period.
3.2 If Recipient’s employment (i) by the Employer is terminated at any time prior to the end of the Award Period because of death, physical disability (within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended, and the regulations and guidance promulgated thereunder (the “Code”)), or Retirement (unless such Retirement results from a termination of Recipient’s employment by the Employer for Cause) or (ii) by the Employer employing Recipient on the date of this Agreement (the “Current Employer”) is terminated at any time prior to the end of the Award Period in order to move Recipient’s employment from the Current Employer to the Company or any parent or subsidiary of the Company other than the Current Employer (an “Employer Change”) and subject to Section 4(d) of the Plan, Recipient shall be entitled to receive a pro-rated award. The number of Performance Shares to be issued or otherwise delivered as a pro-rated award under this Section 3.2 shall be determined by multiplying the number of Performance Shares determined under Section 2 by a fraction, the numerator of which is the number of days Recipient was employed by Employer or Current Employer, as applicable, during the Award Period and the denominator of which is the number of days in the Award Period. If Recipient’s employment by the Employer or Current Employer, as applicable, terminates because of Employer Change, Retirement, death or physical disability and a Change in Control subsequently occurs before the end of the Award Period, the number of Performance Shares determined under Section 3.3 shall immediately be paid to Recipient. If a Change in Control occurs and Recipient’s employment by the Employer subsequently terminates before the end of the Award Period because of Employer Change, Retirement, death or physical disability, the number of Performance Shares determined under Section 3.3 shall immediately be paid to Recipient.