Retirement Date and Transition Period Sample Clauses

Retirement Date and Transition Period. As of March 31, 2016, you will retire from service as an employee of the Company (“Retirement Date”). Between now and January 31, 2016, you will remain in your current position of Executive Vice President and Chief Financial Officer. Effective February 1, 2016 (the “Transition Period”), you agree to transition into the role of Strategic Advisor and satisfactorily perform the duties of the role as assigned while continuing to receive your regular salary as an employee of the Company during the Transition Period. 
Sample 1
AutoNDA by SimpleDocs
Retirement Date and Transition Period a. As of December 31, 2019 (“Retirement Date”), you will retire from your service as an employee of the Company. Between July 1, 2019 (“Transition Date”) and your Retirement Date (the “Transition Period”), you agree to transition into the role of an Executive Advisor North America Trading and Market Services and satisfactorily perform the duties of that role as assigned by the President and CEO. During the Transition Period, your regular salary will remain unchanged at $550,000 per annum and you shall remain fully eligible for participation in the Company’s benefits plans in which you now participate through the Retirement Date. You will also be paid for all accrued but unused vacation and any unreimbursed business expenses (in accordance with Company policy), after your Retirement Date (or earlier separation). If you do not execute this Agreement, your health benefits provided through the Company will continue through the end of the last month of your employment. Pursuant to federal law, and independent of this Agreement, you and your eligible dependents will be eligible to elect benefits continuation coverage if you timely apply for COBRA benefits. Information regarding your rights under COBRA will be provided to you in a separate mailing. If you choose to accept the offer of separation and benefits set forth in Paragraph 2 of this Agreement, your group health, vision, and dental benefits will end on the Retirement Date. You will be separately notified of your benefit conversion privileges and COBRA rights.
Sample 1
Retirement Date and Transition Period a. As of February 28, 2021 (“Retirement Date”), you will retire from your service as an employee of the Company. Between October 21, 2020 (“Transition Date”) and your Retirement Date (the “Transition Period”), you agree to perform the duties of Executive Vice President, Strategy and Chief Financial Officer as assigned by the President and CEO. During the Transition Period, your regular salary will remain unchanged at $625,000 per annum and you shall remain fully eligible for participation in the Company’s benefits plans in which you now participate through the Retirement Date. You will also be paid for all accrued but unused vacation and any unreimbursed business expenses (in accordance with Company policy), after your Retirement Date (or earlier separation). You will receive a bonus payment under the Executive Incentive Plan for 2020 based upon your performance and target bonus opportunity of $937,500. The 2020 bonus will be paid on or about March 2, 2021. If Nasdaq terminates your employment due to gross misconduct or gross negligence, or you voluntarily resign before December 31, 2020, you will not be entitled to any part of the 2020 CIP bonus. You will receive a bonus payment under the Executive Incentive Plan for 2021 based upon your target bonus opportunity of $937,500, prorated for the period of January 1, 2021 though the Retirement Date. The 2021 bonus will be paid on or about March 2, 2021. All equity grants normally scheduled to vest prior to the Retirement Date shall vest on schedule. If you do not execute this Agreement, your health benefits provided through the Company will continue through the end of the last month of your employment. Pursuant to federal law, and independent of this Agreement, you and your eligible dependents will be eligible to elect benefits continuation coverage if you timely apply for COBRA benefits. Information regarding your rights under COBRA will be provided to you in a separate mailing. If you choose to accept the offer of separation and benefits set forth in Paragraph 2 of this Agreement, your group health, vision, and dental benefits will end on the Retirement Date. You will be separately notified of your benefit conversion privileges and COBRA rights.
Sample 1
Retirement Date and Transition Period. As of December 31, 2016 (“Retirement Date”), you will no longer be a full time employee of the Company. Between now and December 31, 2016 (the “Transition Period”), you will serve as a full time Strategic Advisor to the Chief Financial Officer, with a monthly salary of $ $41,667, and perform the duties of that role as assigned by the Chief Financial Officer. From January 1, 2017 through December 31, 2017 you will remain on Nasdaq payroll and be available as needed for special projects and consultation.
Sample 1
Retirement Date and Transition Period 
Sample 1

Related to Retirement Date and Transition Period

  • Termination Date, Etc “Termination Date” shall mean in the case of the Executive’s death, his date of death, or in all other cases, the date specified in the Notice of Termination subject to the following:

  • 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.

  • Transition Period Upon termination of this Agreement, and for 90 consecutive calendar days thereafter (the “TRANSITION PERIOD”), Executive agrees to make himself available to assist the Company with transition projects assigned to him by the Board. Executive will be paid at a reasonable, agreed upon hourly rate for any work performed for the Company during the Transition Period.

  • 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.

  • 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.

  • Death After Termination of Employment But Before Benefit Payments Commence If the Executive is entitled to benefit payments under this Agreement, but dies prior to the commencement of said benefit payments, the Company shall pay the benefit payments to the Executive's beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's death.

  • Effective Date; Termination This Agreement shall become effective upon execution by all of the Parties and shall continue in force until terminated in accordance with Clause 8.2(a).

  • Normal Termination Date Unless earlier terminated pursuant to Section 3(b) or Section 5, the Options shall terminate on the tenth anniversary of the Grant Date (the “Normal Termination Date”), if not exercised prior to such date.

  • Early Retirement Date Early Retirement Date shall mean a retirement from employment which is effective prior to the Normal Retirement Age stated herein, provided the Executive has attained age sixty (60) with thirty (30) years of service with the bank.

  • Pre-Retirement Death Benefits Should the Director die while --------- ----------------------------- serving as a director of the Bank and prior to the Qualifying Date, the Bank will pay $671 per month for a continuous period of 120 months to the Beneficiary or Beneficiaries of the Director. The first such monthly installment payment shall be made 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 Director died. In the event of the death of the last living Beneficiary before all installment payments shall have been made, the balance of any payments which remain unpaid at the time of 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.

Time is Money Join Law Insider Premium to draft better contracts faster.