Reemployment of a Participant Sample Clauses

Reemployment of a Participant. If a retired or former Participant is reemployed by an Employer or a Related Corporation after he incurs a Settlement Date in accordance with the provisions of Section 9.1, he shall again become an Active Participant on the date he is reemployed by an Employer and makes his election in accordance with the provisions of Section 2.1; provided, however, that if he is not reemployed as an Employee, he shall again become an Active Participant on the first day thereafter on which he does become an Employee and makes his election in accordance with the provisions of Section 2.1.
Sample 1
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Reemployment of a Participant. In the event a Participant is reemployed by the Employer prior to incurring five (5) consecutive one-year periods of severance and the Participant had previously received a lump sum distribution of his Accounts representing less than a one hundred percent (100%) interest in all such Accounts, the Participant shall have the right to pay back the amount of his lump sum distribution, and thus be entitled to a restoration of his forfeitures in accordance with the procedures established in Section 7.4. Such repayment shall be made not later than the earlier of five (5) consecutive periods of severance or five (5) years from the date the Participant is reemployed.
Sample 1
Reemployment of a Participant. If a retired or former Participant is reemployed by an Employer or a Related Corporation after he incurs a Settlement Date in accordance with the provisions of Section 9.1 and if his Service is reinstated pursuant to the provisions of Section 2.4, he shall again become an Active Participant on the date he is reemployed by an Employer and makes his election in accordance with the provisions of Section 2.1; provided, however, that if he is not reemployed as an Employee, he shall again become an Active Participant on the first day thereafter on which he does become an Employee and makes his election in accordance with the provisions of Section 2.1. If a former Participant who incurs a Settlement Date under Section 9.1 is thereafter reemployed as an Employee and if his Service is not reinstated pursuant to the provisions of Section 2.4, he shall become an Eligible Employee on the earliest date after such reemployment as of which he meets the eligibility requirements of the Plan.
Sample 1

Related to Reemployment of a Participant

  • Eligible Employee For purposes of the SIMPLE 401(k) Plan provisions, any Employee who is entitled to make Elective Deferrals under the terms of the SIMPLE 401(k) Plan.

  • Participant See Section 7(a) hereof.

  • Reemployment Rights Subject to the availability of a vacant position for which he/she is qualified, the laid off employee has the right to reemployment over outside candidates. Any employee who is laid off or retired in lieu of layoff, and is subsequently eligible for reemployment, shall be notified through certified mail by the District as to the date of the opening at his/her last address known to the District. The employee must respond in writing within seven (7) working days of issuance of the letter to be deemed to have declined the offer. Laid off employees are eligible for reemployment in the classification from which laid off for thirty-nine (39) months from the effective date of layoff and shall be employed in the reverse order of seniority. Their reemployment shall have preference over any other method of filling vacancies in classifications incurring layoff. An employee on a reemployment list shall be notified of promotional opportunities and shall be entitled to apply through the regular selection process. Regular employees who take voluntary demotions or voluntary reductions in assigned time in lieu of layoff shall be reemployed in their former classification or to positions in the former classification with increased assigned time as vacancies become available, for a period of thirty-nine (39) months plus twenty-four (24) months. Employees who are demoted in lieu of layoff shall remain on the reemployment list until their rights are exhausted, or until they have regained the assignment from which they were laid off. Regular employees who are eligible and elect to retire under Section 21.4.4 shall then be placed on a thirty-nine (39) month reemployment list in accordance with this regulation. The District agrees that when an offer of employment is made to an eligible person retired under this regulation, and the District receives within ten (10) workdays a written acceptance of this offer, the retired person shall be allowed sufficient time to terminate his or her retired status with Public Employees Retirement System.

  • Grantee Employment Nothing contained in this Agreement, and no action of the Company or the Committee with respect hereto, shall confer or be construed to confer on the Grantee any right to continue in the employ of the Company or any of its Subsidiaries or interfere in any way with the right of the Company or any employing Subsidiary to terminate the Grantee's employment at any time, with or without cause; subject, however, to the provisions of any employment agreement between the Grantee and the Company or any Subsidiary.

  • Reemployment Former state employees who are reemployed within five (5) years of leaving state service will be granted all unused and unpaid sick leave credits they had at separation. If an employee is reemployed after retiring from state service, when the employee subsequently retires or dies, only unused sick leave accrued since the date of reemployment minus sick leave taken within the same period will be eligible for sick leave separation cash out, in accordance with 12.7 above.

  • Death of Participant Any distribution or delivery to be made to Participant under this Award Agreement will, if Participant is then deceased, be made to Participant’s designated beneficiary, or if no beneficiary survives Participant, the administrator or executor of Participant’s estate. Any such transferee must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer.

  • 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.

  • Disability Benefit If the Executive terminates employment due to Disability prior to Normal Retirement Age, the Company shall pay to the Executive the benefit described in this Section 2.3 in lieu of any other benefit under this Agreement.

  • 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.

  • Re-employment An employee who resigns their position and within 90 days is re-employed, will be granted a leave of absence without pay covering those days absent and will retain all previous rights in relation to seniority and benefits subject to any benefit plan eligibility requirements.

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