Retirement Period Sample Clauses

Retirement Period. For the purposes of this Agreement, “phased pre-retirement period” is defined as a period of leave without pay from a portion of duties, immediately preceding an early, normal, or deferred retirement date.
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Retirement Period. During the Retirement Period, it shall be the duty of Executive (as his health may permit) to be available for such advice and counsel as the officers and directors of the Company may reasonably request. However, Executive shall not be required to be in daily or other regular attendance at the offices or other business locations of the Company.
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Retirement Period. For the purposes of this Agreement, “phased post-retirement period” is defined as a period of re-employment immediately following an early, normal, or deferred retirement date.
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Retirement Period. The “Retirement Period’’ is the period of 12 months following the Retirement Date.
Sample 1
Retirement Period. 1 – January 15, 2021 to January 26, 2021. The five (5) least senior of the eligible employees shall be permitted to retire with the following incentives: a. Eligible employees who elect to retire in Retirement Period 1 shall be paid by the Town a retention bonus of $4,000 5,000 within ten (10) business days of their retirement date; b. In addition, affected eligible employees who elect to retire according to this Agreement shall receive the option to choose to remain with their current medical plan provided by Anthem Blue Cross/Blue Shield (At the premium cost share of 12% including caps/maximums pursuant to the terms of the c. Eligible employees who elect to retire in Retirement Period 1 shall be paid their accrued unused time (i.e., sick) in equal instalments over three (3) fiscal years beginning on March 15, 2021 and continuing each fiscal year thereafter on July 30th of each year. For purposes of this Agreement the term “accrued unused time” shall mean sick time up to one hundred and fifty (“150”) days, vacation, and personal leave as accrued pursuant to the July 1, 2015 through June 30, 2021 Contract; d. The least senior eligible employees in Retirement Period 1 may be displaced and not permitted to retire in Retirement Period 1 if a more senior eligible employee exercises his or her right to displace or bump the least senior eligible employee by no later than January 22, 2021. Once this displacement right is exercised, the displacing more senior employee shall be entitled to any and all benefits associated with Retirement Period 1 and the displaced employee shall remain working for the Town; e. In order to be compensated for the additional benefits set forth above, eligible employees must execute a Separation and Release Agreement with the Town (See Exhibit 2); f. Eligible employees covenant and agree that they shall not abuse sick time for the duration of this Agreement (through the last Retirement Period); g. In the event five (5) eligible employees do not retire in Retirement Period 1, a 4th Retirement Period shall be created pursuant to the terms of this Agreement; h. The undersigned parties covenant and agree that this entire agreement is conditioned on the fact that no more than five (5) eligible employees shall retire prior to June 30, 2020, in the event that more than 5 eligible employees retire before June 30, 2020 this Agreement shall be null and void. i. Notification to the Town of an intention to retire (including displacement) in accorda...
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Retirement Period. If mutually agreed by the Executive and the Company, the Executive may continue to serve as Vice Chairman following completion of the Post-Retirement Period, with the Executive's compensation and benefit package for such additional service to be agreed by the Company and the Executive.
Sample 1

Related to Retirement 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.

  • 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.

  • Termination of Employment Period The Agreement Term shall terminate upon the occurrence of any of the following:

  • Expiration of Employment Period If Executive’s employment shall be terminated due to the normal expiration of the Employment Period, this Agreement shall terminate without further obligations to Executive, other than for payment of Accrued Obligations and the timely payment or provision of Other Benefits.

  • Early Termination of the Employment Period Notwithstanding Section 1(b) hereof, the Employment Period shall end upon the earliest to occur of (i) a Termination For Cause, (ii) a Termination Without Cause, (iii) a Voluntary Termination, (iv) a Termination Due to Retirement, (v) a Termination Due to Disability, or (vi) a Termination Due to Death.

  • Benefit Period Following the Qualifying Period you will receive a monthly income until the earlier of: (i) Attainment of age 65 (ii) Cessation of total disability (iii) Attainment of date of retirement

  • Employment Period; Remaining Unexpired Employment Period (a) The terms and conditions of this Agreement shall be and remain in effect during the period of employment established under this Section 2 (“Employment Period”). The Employment Period shall be for an initial term of three (3) years beginning on the date of this Agreement and ending on the third anniversary date of this Agreement, plus such extensions, if any, as are provided pursuant to Section 2(b). (b) Beginning on the date of this Agreement, the Employment Period shall automatically be extended for one (1) additional day each day, unless either the Company and the Bank, acting jointly, or the Executive elects not to extend the Agreement further by giving written notice to the other parties, in which case the Employment Period shall end on the third anniversary of the date on which such written notice is given. For all purposes of this Agreement, the term “Remaining Unexpired Employment Period” as of any date shall mean the period beginning on such date and ending on: (i) if a notice of non-extension has been given in accordance with this Section 2(b), the third anniversary of the date on which such notice is given; and (ii) in all other cases, the third anniversary of the date as of which the Remaining Unexpired Employment Period is being determined. Upon termination of the Executive’s employment with the Company and the Bank for any reason whatsoever, any daily extensions provided pursuant to this Section 2(b), if not therefore discontinued, shall automatically cease. (c) Subject to Section 3, nothing in this Agreement shall be deemed to prohibit the Company or the Bank from terminating the Executive’s employment at any time during the Employment Period with or without notice for any reason; provided, however, that the relative rights and obligations of the Company, the Bank and the Executive in the event of any such termination shall be determined under this Agreement.

  • Vacation Period ‌ The choice of vacation periods shall be granted to employees on the basis of seniority with the Employer except where the period requested would be detrimental to the operation of the Employer.

  • Severance Period For purposes of this Agreement, “Severance Period” means the period of time commencing immediately after Executive’s separation of service from the Company through the date that is six (6) months following such separation date, plus an additional two (2) months for every fully completed Year of Service; provided, however, that in all cases the Severance Period will end no later than on the twelve (12)-month anniversary of the date of Executive’s termination of employment.

  • Employment Period Compensation In consideration of the other provisions of this Agreement, and the Executive’s agreement to execute a Release Agreement, substantially in the form attached hereto as Exhibit B, in the event of his termination under relevant circumstances pursuant to which he would be paid severance benefits, ESC shall provide the Executive with the following payments and benefits, both those set forth in this section and elsewhere in this Agreement:

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