Special Retirement Bonus Sample Clauses

Special Retirement Bonus. Subject to Section 10(b), if the Executive voluntarily terminates employment in connection with the Executive’s retirement from the homebuilding industry, then, in addition to the Accrued Obligations and subject to both (i) the Executive’s satisfaction of the Release Requirement, and (ii) the Executive’s providing the Company with written notice of the Executive’s intent to retire at least ninety (90) days prior to the Date of Termination, the Company shall pay to the Executive a special retirement bonus (the “Special Retirement Bonus”) equal to one million dollars ($1,000,000) in equal installments in accordance with the Company’s customary payroll practices commencing on the first payroll period following the effective date of the Release (and at the same times and in the same amounts as the first one million dollars ($1,000,000) would have been payable to the Executive under Section 5(b)(i) upon a termination without Cause or resignation with Good Reason absent a Change in Control). For purposes of this Agreement, “retirement from the homebuilding industry” shall mean that the Executive shall not be employed in any capacity by any company engaged in homebuilding within five (5) years following the Date of Termination, and in connection therewith, if the Executive does not remain so retired for such period, the Executive agrees that the Executive shall be required to repay the Company all amounts received under this Section 5(c). For the avoidance of doubt, the Special Retirement Bonus shall not be payable upon any circumstances under which severance benefits are payable under Section 5(b) above.
Sample 1
Special Retirement Bonus. In recognition of Executive’s contribution to the Company, and in consideration of the covenants incorporated herein and the waiver and release contained in the Release Agreement, the Company shall pay Executive a special retirement bonus equal to $1,100,000 in the aggregate in a lump sum (the “Retirement Bonus”). Executive’s receipt of the Retirement Bonus is subject to Executive’s (a) execution and non-revocation of the Release Agreement and (b) compliance with the obligations and covenants under this Agreement. The Retirement Bonus shall be paid to Executive on or before the 90th day following the date of this Agreement.
Sample 1
Special Retirement Bonus. An employee age fifty-eight (58) or over with thirty (30) or more years of credited service or age sixty (60) or over with ten (10) or more years of credited service who satisfies the following conditions and retires will receive a special seven thousand five hundred dollars ($7,500) retirement bonus: 1. 1. Available only to hourly-paid Employees;
Sample 1
Special Retirement Bonus. ‌ April 1, 2010 United Steelworkers, and Xxxxx 0000-000 Xxxxxx Xxxxxxxxxxxx, 000 Xxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxx X0X 0X0 Attention: Xx. Xxxxx Xxxxxxxx, Area Coordinator, United Steelworkers Dear Xx. Xxxxxxxx: The following will confirm our understanding with respect to a one time special retirement bonus. The Company will pay a special one-time retirement bonus of twenty thousand dollars ($20,000.00), less deductions required by law, to any employee who, as of April 1, 2010, has thirty (30) or more years of credited service as defined in the CRS plan text, and who voluntarily terminates employment and elects to commence their pension between April 1, 2010 and January 1, 2011. It is understood that this payment will not be considered as pensionable earnings in the calculation of Average Final Compensation (AFC) for pension purposes. Yours truly, Xxxxx Xxxxxx Manager Human Resources Original Date: April 1, 2010
Sample 1
Special Retirement Bonus. If Executive voluntarily terminates employment in connection with her retirement from the homebuilding industry after May 15, 2013 (which date constitutes a “separation from service” within the meaning of Section 409A of the Code), the Company shall pay to the Executive a special retirement bonus equal to one million dollars ($1,000,000), such amount to be payable in equal installments at the same time and in the same amount as the first $1 million dollars ($1,000,000) would have been payable to Executive under Section 6(a)(i) (provided that the last payment shall be the balance of the amount owed), conditioned on the Executive providing the Company with notice of her intent to retire at least ninety (90) days prior to the Date of Termination; and, provided that Executive executes a Release in accordance with the procedures and requirements under Section 6(a)(vi) (substituting Section 6(d) for Section 6(a)). For purposes of this Agreement, “retirement from the homebuilding industry” shall mean that Executive shall not be employed in any capacity by any company engaged in homebuilding within five (5) years following the Date of Termination, and in connection therewith, if Executive does not remain so retired for such period, she agrees that she shall be required to repay the Company all amounts received hereunder.”
Sample 1
Special Retirement Bonus. On December 31, 2005, in recognition of your past service to the Company, you will receive a special retirement bonus in the amount of $100,000.00 (the “Special Retirement Bonus”). The payment will be subject to legally-mandated deductions for Social Security and federal, state and local taxes and will be considered compensation for purposes of calculating your lump sum pension benefit described in subparagraph D below.
Sample 1
Special Retirement Bonus 
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Related to Special Retirement Bonus

  • Retirement Bonus 22:01 Employees retiring in accordance with the following:‌ (a) Retire at age sixty-five (65) years; or (b) Retire after age sixty-five (65) years; or (c) Have completed at least ten (10) years continuous employment and retire after age fifty-five (55) years but before age sixty-five (65) years; (d) Employees who have completed at least ten (10) years continuous service with the Employer, whose age plus years of that service equal eighty (80); shall be granted retirement bonus on the basis of four (4) days per year of employment.

  • 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.

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

  • 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 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 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.

  • Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

  • Early Retirement Incentive The Employer may offer to any faculty member or a faculty member may apply for one of the early retirement incentive alternatives described herein, provided the faculty member meets the following criteria. The Union shall be advised in writing of any offer of early retirement made to a faculty member.

  • 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.