Employment Transition. (a) The Companies and the Executive acknowledge that as of the date that Holding’s Board of Directors elects a new Chief Financial Officer (the “Transition Date”), Executive’s responsibilities as Senior Vice President and Chief Financial Officer of the Companies shall end and, until the date ninety days after the Transition Date or such shorter or longer period of time as the Executive and the President and Chief Executive Officer of the Companies shall mutually agree (the “Termination Date”), Executive shall assume the employment duties as an advisor to the Companies. During the employment period between the Transition Date and the Termination Date, Executive shall make her services as a full-time employee available to authorized representatives of the Companies as specifically requested by the President and Chief Executive Officer of the Companies or his designee. Notwithstanding the foregoing sentences, in no event shall the Termination Date under this Agreement be later than June 30, 2007. From January 1, 2006 through the Termination Date, Executive shall be paid at the annual base salary rate of $292,000.00, subject to upward adjustment as of January 1, 2007 to reflect the Company’s guideline increase applicable to base salaries of executive officers, and be provided with those employee benefits for which she is eligible as of the Date of this Agreement, provided that Executive shall not be eligible to receive annual incentive compensation awards and equity based incentives except as specifically provided herein.
(b) Executive and the Companies agree that Executive’s last day of employment with the Companies shall be the Termination Date indicated above. Following the Termination Date, in accordance with Section 5(a) of the Executive Employment Agreement by and among the Companies and the Executive dated as of July 1, 2002 and amended as of October 31, 2002 (hereinafter referred to as the “EEA”), Executive shall be paid all Accrued Benefits, as defined in Section 1(a) of the EEA which includes accrued but unused vacation to which she is entitled. Notwithstanding the foregoing, in the event Executive does not timely sign and return this Agreement, or revokes this Agreement pursuant to Paragraphs 12 and 18 (below), Executive’s date of separation from employment with the Companies shall be such date as determined by the President and Chief Executive Officer of the Companies.
Employment Transition. Section 14.3 shall be deleted.
Employment Transition. Except as hereinafter otherwise provided, the Executive will remain employed as Chief Executive Officer through February 4, 2008. The Executive agrees not to stand for reelection to the Company’s Board of Directors (“Board”) at the May 2008 Annual Meeting of Shareholders. The Executive agrees to resign from his positions as officer and/or director of all Company subsidiaries and affiliates, and all fiduciary positions that he may hold with respect to any Company, subsidiary, or affiliate employee benefit plans, effective as of February 4, 2008.
Employment Transition. Employees potentially affected by an anticipated employment transition shall be retained in preference to the continuation of a contractor provided the employee is capable of performing the necessary work.
Employment Transition. Xxxxxxxx-xxx is currently employed by Molex as Executive Vice President and President, Micro Products Division. Xxxxxxxx-xxx and Molex agree that effective June 30, 2013, Hirokawa-san will step down as Executive Vice President and President, Micro Products Division, and effective July 1, 2013, Hirokawa-san will be appointed as Chairman of Molex Japan Co. Ltd. reporting to the Chief Operating Officer of Molex. During this time, Xxxxxxxx-san will remain an employee of Molex. During this period, Hirokawa-san will receive:
(a) His annual base salary, however, he will not be eligible for a pay increase during this period;
(b) Any cash incentive earned for fiscal year 2013 will be paid out in accordance with the terms of the Molex Incentive Plan and Hirokawa-san’s individual arrangement. He will cease participation in the Molex Incentive Plan and all other global pay, equity, benefit and perquisite plans effective June 30, 2013; and
(c) Certain benefits including a car and driver, an office at the Yamato headquarters and administrative support, and contributions to the Molex Japan Directors’ and Executive Officer Retirement Plan.
Employment Transition. Seller shall provide the services of the New Buyer Employees to Buyer until no later than April 30, 2002 pursuant to the terms of the Transition Consulting Reimbursement Agreement dated as of even date herewith, during which period (the “Employment Transition Period”) such employees (except to the extent their employment ends, collectively or individually, for the reasons set forth in Section 2.1 of the Transition Consulting Reimbursement Agreement) shall remain employees of Seller, shall remain on the payroll of Seller and shall continue to participate in Seller benefit plans. Buyer shall reimburse Seller for the employment expenses of the New Buyer Employees during the Employment Transition Period pursuant to the terms of the Transition Consulting Reimbursement Agreement. Effective no later than May 1, 2002, the arrangement shall terminate and those New Buyer Employees who have been offered employment with Buyer and have accepted such offer shall be employed by Buyer. * Confidential information. Information has been redacted.
Employment Transition a. The Company will enter into an Agreement (the “Agreement”) with the Ministry of Training, Colleges and Universities to establish an Adjustment Committee (the “Committee”) under the Ministry’s Adjustment Advisory Program, and contribute
b. The Committee will be composed of 4 union members and up to 4 management members. The parties will meet to discuss potential candidates for membership on the Committee with a view to ensuring the Committee has members who are committed to the tasks and roles set out in paragraph (c) below.
c. The Company and the Union, and all of the members of the Adjustment Committee, understand and agree that they have a collective obligation to act in the best interests of the employees within the framework set out in Schedule “A” to the Agreement with the Ministry. The Committee members will strive to fulfill the roles and responsibilities set out in Schedule “A” (Project Description, Project Deliverables, Role and Operation of the Committee, and Reporting) and to achieve the best outcome possible for the employees as they transition following termination.
d. The Company will provide employees with time off work without pay for the purposes of attending a job interview, subject to operational requirements and provided the employee provides his/her immediate supervisor with supporting documentation and a minimum of one (1) weeks notice of the interview.
e. The Company may grant time off for an interview on shorter notice than required in (d), but if time off is granted, then in no event will the Company be disadvantaged or restricted by the operation of the collective agreement with respect to replacing that person.
f. Employees will be provided letters of reference setting out their position, length of employment and a statement that the employee has lost his/her employment as a result of a plant closure. Current, accredited designations or certificates that are on record with the Company (such as forklift, milk graders certificate, ERT) will be included in the employee’s reference letter.
Employment Transition. It is the intent of the Parties to create an orderly employment transition of District’s employees from District to AH Mendocino. The Parties recognize the inherent disruption this may cause the employees and have agreed on the following process with the following terms in order to minimize this disruption.
Employment Transition. The Parties acknowledge and agree that, at Employee’s request, the Board of Directors will shortly commence a search for a new Chief Executive Officer to replace Employee. Employee agrees to continue serving in his current positions as Chief Executive Officer during the course of this search (the “Search Period”). Following the hire date of a new Chief Executive Officer, Employee shall remain employed by the Company in the capacity of a transition facilitator to the new Chief Executive Officer for (i) ninety (90) days or (ii) such shorter period as agreed to in writing by Employee and the new Chief Executive Officer (the “Transition Period”; and the date on which such period expires and Employee’s employment with the Company terminates is referred to as the “Separation Date”). As the transition facilitator to the new Chief Executive Officer, Employee shall assist the new Chief Executive Officer as requested by him/her to enable the new Chief Executive Officer to fully run the Company after the Separation Date.
Employment Transition. Prior to the effective date, the Superintendent will be allowed to begin an orientation and transition period for the week of June 26th- 30th in the school system, for which she will be paid a daily rate computed on the basis of her annual salary established hereinbelow. All other reasonable, properly documented expenses including travel, lodging and meals will be reimbursed.
