Involuntary Retirement Sample Clauses

Involuntary Retirement. 70.1 An excess employee may be made involuntarily redundant with the agreement of the AEU. 70.2 This clause applies to excess employees who are not: (a) retired with consent; (b) redeployed to another position; or (c) reduced in classification. 70.3 The employee may be involuntarily retired subject to the agreement of the AEU, such agreement not to be withheld if, during or after six months from the date the employee was declared excess, the employee: (a) does not wish to accept a transfer in accordance with Section 83 of the PSM Act; or (b) has refused to apply for, or be considered for, a position for which the employee could reasonably be expected to be qualified to perform, either immediately or in a reasonable time. 70.4 Where the Chief Executive believes that there is insufficient productive work available for an excess employee during the retention period, the Chief Executive may, with the agreement of the AEU, make the employee involuntarily redundant before the end of the retention period. 70.5 An excess employee will not be involuntarily retired if he or she has not been invited to elect to be voluntarily retired with benefits, or has made such an election and the Chief Executive refuses to approve it. 70.6 Where the Chief Executive and the AEU agree to involuntarily retire an excess employee, the employee will be given no less than four weeks notice of the action proposed; or 5 weeks if the employee is over 45 years old and has completed at least 2 years of continuous service. This notice period will, as far as practicable, be concurrent with the 7 month retention period.
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Involuntary Retirement. The EO may involuntarily retire an excess employee at the end of the retention period unless the employee has not been invited to accept an offer of voluntary retrenchment or has elected to be retired but the EO has refused to approve it. An excess employee will not be retired involuntarily without being given 4 weeks' notice (or 5 weeks' notice for an employee over 45 with at least 5 years of continuous service) of retirement, or payment in lieu of notice.
Involuntary Retirement. The Company at its sole discretion may retire any employee at age 65 or older by reason of the employee’s inability to perform efficiently work assigned to him/her. The provisions of this Section 3 shall not apply to any employee who attained age 65 on or after June 1, 1992.
Involuntary Retirement. 9.1 An excess officer may be involuntarily retired with the agreement of the Union. 9.2 The Chief Executive will not involuntarily retire any officers engaged in that work without taking into account the preferences of other officers engaged in that work at that level in that location. 9.3 Where the Union and the Chief Executive agree to involuntarily retire an excess officer, the officer will be given no less than four weeks notice of the action proposed: or five weeks if the officer is over 45 years old or has completed at least 20 years of continuous service. 9.4 The notice period will as far as practicable be concurrent with the retention period applicable to the officer. 9.5 An excess officer will not be involuntarily retired if he or she has not been invited to retire voluntarily with benefits in accordance with clause 6 of this Schedule, or has made such an election and the Chief Executive refuses to approve it. 9.6 Where the Chief Executive believes that there is insufficient productive work available for an excess officer during the retention period, the Chief Executive may, with the agreement of the union, retire the employee before the end of the retention period. 9.7 An excess officer who is involuntarily retired before the end of the retention period will be eligible to receive payment in lieu of income maintenance calculated for the balance of the retention period applying to that officer.
Involuntary Retirement. An excess officer may be made involuntarily redundant, subject to the agreement of the union(s). This clause applies to excess officers who are not: (a) retired with consent; (b) redeployed to another position; or (c) reduced in classification.
Involuntary Retirement. Subject to the clauses immediately below, the Director may involuntarily retire an excess employee at the end of the retention period.
Involuntary Retirement. A partner shall be deemed to retire from the Partnership:- (i) On the account date next following his 65th birthday; (ii) On the expiry of not less than two months notice in writing requiring him to retire given to him by the other partners at a time when by reason of illness, injury or other cause, he is unable to perform his duties as a partner and has been so unable throughout the period of [ ] calendar months immediately preceding the service of the notice or for more than [ ] calendar months during the period of twelve months immediate preceding such service unless before the expiry of such notice he resumed his partnership duties to the reasonable satisfaction of the other partners. (iii) On the service upon him of notice in writing requiring him to retire given by the other partners at any time after he has become of unsound mind.
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Related to Involuntary Retirement

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Involuntary Termination “Involuntary Termination” shall mean (i) without the Employee’s express written consent, the significant reduction of the Employee’s duties or responsibilities relative to the Employee’s duties or responsibilities in effect immediately prior to such reduction; provided, however, that a reduction in duties or responsibilities solely by virtue of the Company being acquired and made part of a larger entity (as, for example, when the Chief Financial Officer of Company remains as such following a Change of Control and is not made the Chief Financial Officer of the acquiring corporation) shall not constitute an “Involuntary Termination”; (ii) without the Employee’s express written consent, a substantial reduction, without good business reasons, of the facilities and perquisites (including office space and location) available to the Employee immediately prior to such reduction; (iii) without the Employee’s express written consent, a material reduction by the Company in the Base Compensation or Target Incentive of the Employee as in effect immediately prior to such reduction, or the ineligibility of the Employee to continue to participate in any long-term incentive plan of the Company; (iv) a material reduction by the Company in the kind or level of employee benefits to which the Employee is entitled immediately prior to such reduction with the result that the Employee’s overall benefits package is significantly reduced; (v) the relocation of the Employee to a facility or a location more than 50 miles from the Employee’s then present location, without the Employee’s express written consent; (vi) any purported termination of the Employee by the Company which is not effected for death or Disability or for Cause; or (vii) the failure of the Company to obtain the assumption of this agreement by any successors contemplated in Section 10 below.

  • Involuntary Termination of Employment If the Executive does not exercise his withdrawal rights pursuant to Subsection 2.2, and the Executive's employment with the Bank is involuntarily terminated for any reason, including a termination due to disability of the Executive but excluding termination for Cause, or termination following a Change in Control within thirty-six (36) months of such Change in Control, within thirty (30) days of such involuntary termination of employment, the Bank shall be required to make an immediate lump sum Contribution to the Executive's Retirement Income Trust Fund in an amount equal to: (i) the full Contribution required for the Plan Year in which such involuntary termination occurs, if not yet made, plus (ii) the present value (computed using a discount rate equal to the Interest Factor) of all remaining Contributions to the Retirement Income Trust Fund; provided however, that, if necessary, an additional amount shall be contributed to the Retirement Income Trust Fund which is sufficient to provide the Executive with after tax benefits (assuming a constant tax rate equal to the rate in effect as of the date of the Executive's termination) beginning at his Benefit Age, equal in amount to that benefit which would have been payable to the Executive if no secular trust had been implemented and the benefit obligation had been accrued under APB Opinion No. 12, as amended by FAS 106.

  • Involuntary Termination Without Cause In the event of the Participant’s involuntary Termination by the Company without Cause, the vested portion of the Option shall remain exercisable until the earlier of (i) ninety (90) days from the date of such Termination, and (ii) the expiration of the stated term of the Option pursuant to Section 3(d) hereof.

  • 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.

  • Mandatory Retirement Retirement shall be mandatory only to the extent required by law.

  • Retirement, Death or Disability If the Executive’s employment terminates during the Term of this Agreement due to his death, a disability that results in his collection of any long-term disability benefits, or retirement at or after age 62, the Executive (or the beneficiaries of his estate) shall be entitled to receive the compensation and benefits that the Executive would otherwise have become entitled to receive pursuant to subsection (d) hereof upon a resignation without Good Reason.

  • Normal Retirement Normal Retirement Age under the Plan is: (Choose (a) or (b)) [X] (a) 65 [State age, but may not exceed age 65].

  • Involuntary Termination for Cause If the Employee's employment is terminated for Cause, then the Employee shall not be entitled to receive severance payments. The Employee's benefits will be terminated under the Company's then existing benefit plans and policies in accordance with such plans and policies in effect on the date of termination.

  • TERMINATION UPON RETIREMENT Termination of Executive’s employment based on “

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