Exceptions to Employment Condition Sample Clauses

Exceptions to Employment Condition. Notwithstanding Section 4.1(c), if the Grantee’s termination of employment occurs prior to the end of the Performance Period by reason of (i) Grantee’s death, (ii) Grantee’s disability (covered by a long-term disability plan of the Corporation or an Affiliate then in effect), (iii) Grantee’s termination of employment by the Corporation “without cause” as defined in the Plan, on or after March 10, 2009, (iv) Grantee’s termination on or after Grantee’s attainment of age 55 and before Grantee’s attainment of age 60, with ten years of credited employment with the Corporation or an Affiliate or predecessor thereof, (v) Grantee’s termination on or after Grantee’s attainment of age 60 or (vi) sale of a business unit or subsidiary of the Corporation by which Grantee is employed, then Grantee shall be entitled to a pro-rata derestriction of the Restricted Stock and a pro-rata issuance of shares (or payment of cash) pursuant to the Other Stock-Based Award (rounded down to the nearest whole share), equal to the number of shares (or amount of cash) the Grantee would have received if he or she had remained employed through the last day of the Performance Period, multiplied by a fraction equal to the number of whole months of employment completed during the Performance Period divided by 36 months, contingent upon the extent to which the performance criteria is satisfied for such Performance Period. In the event the Grantee is entitled to a pro-rata derestriction or issuance as set forth in this Section 4.1(d), the timing of such derestriction or issuance shall be in accordance with Sections 3.3 and 4.1(e), respectively.
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Exceptions to Employment Condition. Notwithstanding Section 4.1(c), if the Grantee’s termination of employment occurs prior to the end of the Performance Period by reason of (i) Grantee’s death, (ii) Grantee’s disability (covered by a long-term disability plan of the Corporation or an Affiliate then in effect), (iii) Grantee’s termination on or after age with years of credited employment with the Corporation or an Affiliate, (iv) a displacement, as determined in accordance with the Corporation’s Employee Displacement Program or any successor or similar practice of the Corporation or an Affiliate, or (v) sale of a business unit or subsidiary of the Corporation by which Grantee is employed, then Grantee shall be entitled to a pro-rata derestriction of the Restricted Stock and a pro-rata issuance of shares (or payment of cash) pursuant to the Other Stock-Based Award (rounded down to the nearest whole share), equal to the number of shares (or amount of cash) the Grantee would have received if he or she had remained employed through the last day of the Performance Period, multiplied by a fraction equal to the number of whole months of employment completed during the Performance Period divided by months, contingent upon the extent to which the performance criteria is satisfied for such Performance Period. In the event the Grantee is entitled to a pro-rata derestriction or issuance as set forth in this Section 4.1(d), the timing of such derestriction or issuance shall be in accordance with Sections 3.3 and 4.1(e), respectively.
Sample 1
Exceptions to Employment Condition. Notwithstanding Section 4.1(c), if the Grantee’s termination of employment occurs prior to the end of the Performance Period by reason of (i) Grantee’s death, (ii) Grantee’s disability (covered by a long-term disability plan of the Corporation or an affiliate then in effect), (iii) Grantee’s termination of employment by the Corporation without “Cause”, as defined in Section 3(d) of Grantee’s Transition Agreement with The Bank of New York Company, Inc. dated June 25, 2007 (the “Transition Agreement”) on or before June 30, 2010, (iv) Grantee’s termination of employment by the Corporation without “Cause”, as defined in the Transition Agreement, after June 30, 2010, (v) Grantee’s termination of employment by Grantee for “Good Reason,” as defined in Section 3(d) of the Transition Agreement on or before June 30, 2010, (vi) Grantee’s termination of employment pursuant to the terms and conditions of the Special Termination Right, as such term is defined in the Transition Agreement, after June 30, 2010, (vii) Grantee’s termination on or after Grantee’s attainment of age 55 and before Grantee’s attainment of age 60, with ten years of credited employment with the Corporation or an affiliate or predecessor thereof, (viii) Grantee’s termination on or after Grantee’s attainment of age 60, or (ix) sale of a business unit or subsidiary of the Corporation by which Grantee is employed, then Grantee shall be entitled to a pro-rata or other derestriction of the Performance Shares and a pro-rata or other issuance of shares (or payment of cash) pursuant to the Performance Share Units (rounded down to the nearest whole share), as set forth in the following sentence. In the case of a termination of employment pursuant to subclauses (i), (ii), (iv), (vii), (viii) and (ix), the pro-rata derestriction and issuance shall be equal to the number of shares (or amount of cash) the Grantee would have received if he had remained employed through the last day of the Performance Period, multiplied by a fraction equal to the number of whole months of employment completed during the Performance Period divided by 36 months, or in the case of a termination of employment pursuant to subclauses (iii), (v) or (vi), the destriction and issuance shall be equal to all of the Performance Shares and Performance Share Units, in either case contingent upon the extent to which the performance criteria is satisfied for such Performance Period. In the event the Grantee is entitled to a pro-rata or other dere...
Sample 1

Related to Exceptions to Employment Condition

  • Employment Conditions In accepting the option, you acknowledge that: (a) Any notice period mandated under any applicable laws shall not be treated as service for the purpose of determining the vesting of the option; and your right to receive shares of Common Stock in settlement of the option after termination as an employee, if any, will be measured by the date of your termination as an employee and will not be extended by any notice period mandated under the applicable law. Subject to the foregoing and the provisions of the Plan, the Company, in its sole discretion, shall determine whether your status as an employee or other service-provider has terminated and the effective date of such termination. (b) The vesting of the option shall cease upon, and no portion of the option shall become vested following, your termination as an employee or other service-provider for any reason except as may be explicitly provided by the Plan or this Stock Option Agreement. Unless otherwise provided in the Plan or this Stock Option Agreement, the unvested portion of the option at the time of your termination as an employee or other service-provider will be forfeited. (c) The Plan is established voluntarily by the Company. It is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time, subject to Section 8.6.5 of the Plan. (d) The grant of the option is voluntary and occasional and does not create any contractual or other right to receive future grants of options, or benefits in lieu of options, even if options have been granted repeatedly in the past. (e) All decisions with respect to future option grants, if any, will be at the sole discretion of the Company. (f) You are voluntarily participating in the Plan. (g) The option is an extraordinary item that does not constitute compensation of any kind for service rendered to the Company (or any Subsidiary), and which is outside the scope of your employment contract, if any. In addition, the option is not part of normal or expected compensation or salary for any purpose, including, but not limited to, calculating any severance, resignation, termination, redundancy, end-of-service payments, bonuses, long-service awards, pension or retirement benefits or similar payments. (h) The future value of the underlying shares of Common Stock is unknown and cannot be predicted with certainty. If you obtain shares upon settlement of the option, the value of those shares may increase or decrease. (i) No claim or entitlement to compensation or damages arises from termination of the option or diminution in value of the option or shares of Common Stock acquired upon settlement of the option resulting from your termination of employment or service (for any reason whether or not in breach of the local law) and you irrevocably release the Company and each Subsidiary from any such claim that may arise. If, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen then, by signing this Stock Option Agreement, you shall be deemed irrevocably to have waived your entitlement to pursue such a claim.

  • 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))

  • OTHER CONDITIONS OF EMPLOYMENT Certificate based on Masters degree, 18 total years pay credit or classified step, Non-Probationary ,Local Longevity =$1000, Base Contract @ $48,532. All contracts are issued contingent upon employee having appropriate certification or endorsement or approved ALP. All contracts are also contingent upon successful completion of criminal background check. Where applicable, certified salaries include $3000 from the “Targeted Educator Compensation Act” of 2001. Where applicable the employee has also had included within Compensation For Services a stipend for 18 years of Local Longevity Credit.

  • SAFETY CONDITIONS OF EMPLOYMENT A. The District and its employees shall be safety conscious in their conduct and actions and shall cooperate in the implementation of the District's safety program. B. Employees shall report any unsafe or unhealthy conditions directly to their supervisor. The District shall conduct investigations of employee reports and take appropriate measures as soon as possible. The employee shall be informed by the principal or designee of the results of the investigation and of whatever action is to be taken. Safety violations will be corrected within ten (10) working days whenever possible. C. Teachers shall not be required to work under unsafe conditions or to perform tasks which endanger their health and safety. D. First aid supplies and first aid treatment shall be available to employees at each school site. A first aid kit shall be provided for each District vehicle used to transport pupils and shall be taken on all field trips. E. Personal protection equipment required by an employee's job duties shall be available from the principal or designee at each school site. F. An employee shall immediately report any assaults in connection with his/her employment to the principal or immediate supervisor who shall report the incident to the appropriate law enforcement agency and the District Office. 1. An employee may exercise the same degree of physical control over a pupil that a parent would be legally privileged to exercise, but which in no event shall exceed the amount of physical control reasonably necessary to maintain order, protect property, or protect the health and safety of pupils. 2. An employee shall receive applicable insurance and leave benefits for any injury incurred under the provisions of this Paragraph. 3. Employees shall be reimbursed for damage to personal property resulting from assault under the provisions of this Paragraph. 4. When the continued presence of a pupil in a class represents a physical danger to a teacher, the teacher may request that the principal institute suspension procedures in accordance with District policy. 5. The District's "Student Discipline Policy" shall be made available to employees.

  • Conditions of Employment It is a term and condition of employment and of the obligations and rights occurring under this Agreement, that an employee: i) properly use and maintain all appropriate protective clothing and tools and equipment supplied by the Company for specified circumstances; and ii) use any technology and perform any duties which are within the limits of the employee's skill, competence and training: and iii) Understand that termination of employment will be based on job requirements and skills and that the principle of "last on - first off' will not apply. It is the needs and requirements of the Company, together with the efforts, skills and abilities of the employee which will be the determining factors regarding the retrenchment of employees. However, where efforts, skills and abilities are equal then seniority shall take precedence; and iv) maintain commitment to, and comply with the Company's directions (consistent with the objectives of the Agreement) with respect to, safety, quality, site cleanliness and waste management; and v) provide and maintain an adequate kit of tools in accordance with Parent Award requirements; and vi) be committed to the objectives in Clause 4 of this Agreement All new employees (other than casuals) will be engaged on the basis of a 3-month probationary period, which shall count as service. The Company reserves the right to terminate a probationary employee at any time during this 3 month period subject to a week's notice or payment in lieu thereof. The Company's right to employ persons on a specified task and/or specified period basis is acknowledged.

  • Employment of Consultants Part A General Consultants’ services shall be procured in accordance with the provisions of the Introduction and Section IV of the "Guidelines: Selection and Employment of Consultants by World Bank Borrowers" published by the Bank in January 1997 and revised in September 1997 (the Consultant Guidelines) and the following provisions of Section II of this Schedule. Part B: Quality- and Cost-based Selection Except as otherwise provided in Part C of this Section, consultants’ services shall be procured under contracts awarded in accordance with the provisions of Section II of the Consultant Guidelines, paragraph 3 of Appendix 1 thereto, Appendix 2 thereto, and the provisions of paragraphs 3.13 through 3.18 thereof applicable to quality- and cost-based selection of consultants. Part C: Other Procedures for the Selection of Consultants 1. Selection Based on Consultants Qualifications Services estimated to cost less than $100,000 equivalent per contract may be procured under contracts awarded in accordance with the provisions of paragraphs 3.1 and 3.7 of the Consultant Guidelines.

  • Terms and Conditions of Employment The term “terms and conditions of employment” means the hours of employment, the compensation therefore including fringe benefits except retirement contributions or benefits, and the Board of Education’s personnel policies affecting the working conditions of the employees. The term is subject to the provisions of Section 179A of PELRA, as amended, regarding the rights of public employers and the scope of negotiations.

  • PRESENT CONDITIONS AND BENEFITS All rights, benefits and working conditions which employees now enjoy, receive or possess as employees of the Employer shall continue to be enjoyed and possessed insofar as they are consistent with this Agreement but may be modified by mutual agreement between the Employer and the Union.

  • Retention of Consultant The Company hereby retains the Consultant, and Consultant agrees to be retained by the Company, upon the terms in, and subject to the conditions of, this Agreement.

  • Other Terms and Conditions of Employment Where an assessment has been made, the applicable percentage shall apply to the wage rate only. Employees covered by the provisions of the clause will be entitled to the same terms and conditions of employment as all other employees covered by this Agreement paid on a pro-rata basis.

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