Transition and Retirement Sample Clauses

Transition and Retirement. Effective April 1, 2023, the Executive shall resign from his position as Executive Vice President and President of the Defense & Space Segment of the Company and of the Parent and from all other positions he holds as an officer or director of the Company or any of its subsidiaries or as an officer of the Parent, and commence his position as Senior Advisor to aid with the transition of his duties to his successor. Effective April 1, 2024 or such other date as may be mutually agreed (the “Retirement Date”), the Executive shall resign from his position as Senior Advisor, and the Executive’s employment with the Company will terminate at the end of the day on the Retirement Date. From the date of this Agreement through the Retirement Date the Executive shall use his best efforts to cooperate with the transition of his duties to his successor as directed by Xxxxxx’s Board of Directors (the “Board”).
Sample 1
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Transition and Retirement. Effective August 1, 2020, the Executive shall resign from his position as Senior Vice President and Chief Technology Officer of the Company and of the Parent and from all other positions he holds as an officer or director of the Company or any of its subsidiaries or as an officer of the Parent, and commence his position as Senior Advisor to aid with the transition of his duties to his successor. Effective July 1, 2021 (the “Retirement Date”), the Executive shall resign from his position as Senior Advisor, and the Executive’s employment with the Company will terminate at the end of the day on the Retirement Date. From the date of this Agreement through the Retirement Date the Executive shall use his best efforts to cooperate with the transition of his duties to his successor as directed by Parent’s Board of Directors (the “Board”) and shall perform services on a substantially full-time basis.
Sample 1
Transition and Retirement. Effective January 7, 2019, or such later date as may be mutually agreed, the Executive shall resign from his position as Executive Vice President and Chief Financial Officer of the Company and of the Parent and from all other positions he holds as an officer or director of the Company or any of its subsidiaries or as an officer of the Parent, and commence his position as Senior Financial Advisor to aid with the transition of his successor. Effective March 31, 2019 (the “Retirement Date”), the Executive shall resign from his position as Senior Financial Advisor, and the Executive’s employment with the Company will terminate at the end of the day on the Retirement Date. From the date of this Agreement through the Retirement Date the Executive shall use his best efforts to cooperate with the transition to his successor as directed by Parent’s Board of Directors (the “Board”).
Sample 1
Transition and Retirement 
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Related to Transition and Retirement

  • Resignation and Retirement Any Trustee may resign his trust or retire as a Trustee, by written instrument signed by him and delivered to the other Trustees or to any officer of the Trust, and such resignation or retirement shall take effect upon such delivery or upon such later date as is specified in such instrument.

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • Termination and Termination Benefits Notwithstanding the provisions of Section 3, the Executive's employment under this Agreement shall terminate under the following circumstances set forth in this Section 6.

  • Compensation; Employment Agreements; Etc Enter into or amend or renew any employment, consulting, severance or similar agreements or arrangements with any of its directors, officers or employees or those of its subsidiaries or grant any salary or wage increase or increase any employee benefit (including incentive or bonus payments), except (1) for normal individual increases in compensation to employees (other than executive officers or directors) in the ordinary course of business consistent with past practice, (2) for other changes that are required by applicable law and (3) to satisfy Previously Disclosed contractual obligations.

  • Compensation Following Termination of Employment In the event that Executive's employment hereunder is terminated, Executive shall be entitled to the following compensation and benefits upon such termination:

  • Compensation; Employment Agreements 16 5.15 Noncompetition, Confidentiality and Nonsolicitation Agreements; Employee Policies...... 16 5.16

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Supplemental Executive Retirement Plan The Executive shall participate in the Company's Unfunded Pension Plan for Selected Executives (the "SERP").

  • Compensation and Benefits by the Company As compensation for all services rendered pursuant to this Agreement, the Company shall provide the Executive the following during the Term:

  • Competition After Termination of Employment The Company shall not pay any benefit under this Agreement if the Executive, without the prior written consent of the Company and within 2 years from the Executive’s Termination of Employment, engages in, becomes interested in, directly or indirectly, as a sole proprietor, as a partner in a partnership, or as a substantial shareholder in a corporation, or becomes associated with, in the capacity of employee, director, officer, principal, agent, trustee or in any other capacity whatsoever, any enterprise conducted in the trading area (a 50 mile radius) of the business of the Company, which enterprise is, or may deemed to be, competitive with any business carried on by the Company as of the date of termination of the Executive’s employment or retirement. This section shall not apply following a Change in Control.

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