Retirement as CEO Sample Clauses

Retirement as CEO. Effective on the earlier of: (i) February 25, 20121 (the “Retirement Date”), and (ii) the date on which his successor as CEO is elected by the Board , Xxxxxx shall retire as Apogee’s CEO, from all other officer positions he currently holds with Apogee and its affiliates and from all director positions he holds with Apogee’s affiliates. Assuming that no “Change in Control” as defined in the Change in Control Severance Agreement dated as of February 25, 2011 (the “CIC Severance Agreement”) has occurred prior thereto, effective upon the Retirement Date, the CIC Severance Agreement shall terminate and be of no further force or effect. Additionally, for the avoidance of doubt, if a “Change in Control” as defined in the CIC Severance Agreement occurs prior to the Retirement Date, the CIC Severance Agreement shall govern Xxxxxx’x xxxxxxxxx and other post-closing rights and responsibilities in the event of a termination of Xxxxxx’x employment prior to the Retirement Date under circumstances that qualify him for benefits under Section 4 of the CIC Severance Agreement, and Xxxxxx will not be entitled to benefits under this Agreement. Further, for the avoidance of doubt, if a “Change in Control” as defined in the CIC Severance Agreement occurs prior to the Retirement Date and Xxxxxx remains employed through the Retirement Date, then Xxxxxx’x agreement to retire as set forth in the first sentence of this Section 1 and all other provisions of this Agreement shall continue in effect and govern Xxxxxx’x rights and responsibilities in connection with such retirement, and the CIC Severance Agreement shall terminate as of the Retirement Date and be of no further force or effect. 1 NOTE: This is the last Saturday in February 2012
Sample 1Sample 2
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Retirement as CEO. Effective on the earlier of: (i) December 31, 2005, and (ii) the date on which his successor as CEO is elected by the Board (the “Retirement Date”), Xxxxxx shall retire as Deluxe’s CEO, from all other officer positions he currently holds with Deluxe and its affiliates and from all director positions he holds with Deluxe and its affiliates. Effective upon the Retirement Date, the Severance Agreement, effective March 1, 2001, between Deluxe and Xxxxxx (the “Severance Agreement”), and the Executive Retention Agreement dated December 18, 2000, between Deluxe and Xxxxxx (the “Retention Agreement”), shall each terminate and be of no further force or effect.
Sample 1
Retirement as CEO. (a) From the Effective Date and continuing until the Transition Date (as defined below) (such period, the “Employment Period”), the Executive shall continue to be employed as Chief Executive Officer of the Company pursuant to the terms of the Employment Agreement, subject to Section 2 hereof. During the Employment Period, the Executive shall continue to perform his regular duties as Chief Executive Officer, as described in the Employment Agreement, and agrees to assist the Board and the Company, on an as-needed basis, if and as requested by the Board, in their efforts to recruit a successor Chief Executive Officer. Upon the end of the Employment Period, the Executive shall resign as Chief Executive Officer and as a member of the Board and shall also resign from all other officer and board positions held with the Company and its affiliates. The Executive agrees that he will not voluntarily resign from his role as Chief Executive Officer of the Company prior to the New CEO Date (as defined below), except upon a Resignation for Good Reason (as defined in the Employment Agreement, as modified by Section 2(a)Xxx hereof).
Sample 1
Retirement as CEO. Effective on February 27, 2021 (the “Retirement Date”), Puishys shall retire as Apogee’s CEO and as a member of the Board and from all other officer positions he currently holds with Apogee and its affiliates and from all director positions he holds with Apogee’s affiliates. In the event that Puishys’ successor as CEO is elected by the Board prior to the Retirement Date, at the request of the Board, Puishys shall resign as Apogee’s CEO and his director position on the Board and from all other director positions he currently holds with Apogee and its affiliates and from all other director positions that he holds with Apogee’s affiliates but shall remain an employee of Apogee until the Retirement Date with such responsibilities reasonably assigned to him by the Board or his successor CEO in connection with the transition of the CEO position to his successor. Assuming that no “Change in Control” as defined in the Change in Control Severance Agreement dated as of January 1, 2018 (the “CIC Severance Agreement”) has occurred prior thereto, effective upon the Retirement Date, the CIC Severance Agreement shall terminate and be of no further force or effect. Additionally, for the avoidance of doubt, if a “Change in Control” as defined in the CIC Severance Agreement occurs prior to the Retirement Date, the CIC Severance Agreement shall govern Puishys’ severance and other post-closing rights and responsibilities in the event of a termination of Puishys’ employment prior to the Retirement Date under circumstances that qualify him for benefits under Section 4 of the CIC Severance Agreement, and Puishys will not be entitled to benefits under this Agreement. Further, for the avoidance of doubt, if a “Change in Control” as defined in the CIC Severance Agreement occurs prior to the Retirement Date and Puishys remains employed through the Retirement Date, then Puishys’ agreement to retire as set forth in the first sentence of this Section 1 and all other provisions of this Agreement shall continue in effect and govern Puishys’ rights and responsibilities in connection with such retirement, and the CIC Severance Agreement shall terminate as of the Retirement Date and be of no further force or effect.
Sample 1

Related to Retirement as CEO

  • Retirement Pay Any teacher with ten (10) years consecutive teaching experience in the Park Hill School District immediately prior to retirement from PSRS without an age reduction for early retirement, shall receive upon retirement from the Park Hill School District a terminal amount based upon the following formula: (Notation, the teacher must make application to PSRS for retirement and begin drawing from PSRS on the first available month following retirement). Years of service to the Park Hill School District to be divided by ten (10) and multiplied by one-ninth (1/9) of the last completed contract. Retirement notification after December 15 for the current academic year will result in a reduction of $1,000.00 from the total under Article 36. In the event of a sudden severe illness of the teacher, teacher’s legally recognized spouse, and/or child, the transfer of a legally recognized spouse, or being called into active military duty may be cause for the District not to impose the late notification reduction of $1,000.00. A teacher who otherwise qualifies for payment under Article 36 and dies while currently classified as an active employee will receive such payment.

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

  • Retirement Contribution 1. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay its cost of the 6.5% or 7.5% retirement contribution for employees in the bargaining unit who are covered under special Law Enforcement retirement plans. 2. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications.

  • Retirement Date If the Executive remains in the continuous employ of the Bank, the Executive shall retire from active employment with the Bank on the Executive’s sixty-fifth (65th) birthday, unless by action of the Board of Directors this period of active employment shall be shortened or extended.

  • Deferred Retirement a. An employee who is eligible for paid retirement at the time he or she separates from County service, but elects deferred retirement, may defer participation in the Grant until such time as he or she becomes an active retiree. b. An otherwise eligible employee who is not eligible for paid retirement at the time he or she separates from County service but is eligible for and elects deferred retirement shall not become eligible for participation in the Grant.

  • Severance and Retirement Options (i) Where an employee resigns within 30 days after receiving notice of layoff pursuant to article 14.02 (a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of sixteen (16) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars. (ii) Where an employee resigns later than 30 days after receiving notice pursuant to article 14.02(a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four (4) weeks' salary, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ($1,250) dollars. (b) Prior to issuing notice of layoff pursuant to article 14.02(a)(ii) in any classification(s), the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under HOOPP within the classification(s) in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the classification(s) who would otherwise receive notice of layoff under article 14.02(a)(ii). Within thirty (30) days from the date of notice of layoff, an employee who has received notice of layoff of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks’ pay for each year of service with the Hospital to a maximum of fifty-two (52) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to $1,000.00 for every year less than age 65, to a maximum of $5,000.00.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

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