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
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Retirement as CEO. Effective on the earlier of: (i) December 31, 2006, and (ii) the date on which Xxxxxx’ successor as CEO is elected by the Board (the “CEO 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 “Full Retirement Date” (as defined below), the Executive Retention Agreement dated December 18, 2000, between Deluxe and Xxxxxx (the “Retention Agreement), shall 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

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

  • 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.

  • 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.

  • Normal Retirement Benefits A Participant shall be entitled to receive the balance held in his or her account upon attaining his or her Normal Retirement Age or at such earlier dates as the provisions of this Article VI may permit. If a Participant elects to continue working past his or her Normal Retirement Age, he or she will continue as an active Participant. Unless the Employer elects otherwise in the Adoption Agreement, distribution shall be made to such Participant at his or her request prior to his or her actual retirement. Distribution shall be made in the normal form, or if elected, in one of the optional forms of payment provided below.

  • 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.

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Retirement Benefits Upon the occurrence of the Qualifying --------- ------------------- Date (except as otherwise specifically provided herein), the Bank will pay to the Director $671 per month for a continuous period of 120 months. Such continuous monthly installment payments shall commence on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Qualifying Date shall occur. In the event that the Director should die after becoming entitled to receive such installment payments but before all such payments have been made, the Bank will pay all remaining installment payments to such beneficiary or beneficiaries as the Director has designated in writing to the Bank (the "Beneficiaries"). In the event of the death of the last living Beneficiary before all remaining installment payments have been made, the balance of any payments which remain unpaid at such Beneficiary's death shall be commuted on the basis of eight percent (8%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, or if no Beneficiary survives the Director, any payments remaining unpaid at the Director's death shall be commuted on the basis of eight percent (8%) per annum compounded interest and shall be paid in a single sum to the Director's estate.

  • 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.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

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