Transition Employment. (a) From the date hereof, through and including the Applicable Termination Date, and for no additional compensation other than provided in this Agreement, Marxxx xxall continue as an employee of the Company under common law rules and, as such, shall make himself available to provide such advice and assistance as the Company may from time to time during such period reasonably request in order to effectuate a smooth transition of management associated with Marxxx'x xxparture from the Company on the Applicable Termination Date; provided that such services shall not exceed, without the consent of Marxxx, xwenty five hours from the date of this Agreement until September 1, 2001 (and an additional five hours if the Applicable Termination Date is extended in the manner provided herein to September 15, 2001); and provided further that all such services shall be provided by way of communications directly with Marxxx Xxxxxxxx xx Scoxx Xxxxxxx xx as otherwise may be authorized in writing by Marxxx Xxxxxxxx xx Scoxx Xxxxxxx. Xuring the Base Employment Continuation Period and any Extended Employment Continuation Period, the Company shall have the right to control and direct Marxxx xxt only as to the results to be accomplished by Marxxx xxt also as to the detail and means by which such results are accomplished by Marxxx. Xhe parties acknowledge that, among other matters, Marxxx'x xxrvices as an employee are being continued until the Applicable Termination Date because of his past involvement in helping to coordinate efforts concerning the Company's relationships with the factories utilized to assemble the Company's merchandise and fabric purchases and warehousing for the fabric and because of the importance of such relationships, merchandise and inventories to the continued success of the Company.
(b) The Company anticipates that the services to be rendered by Marxxx xxom June 15, 2001 through the Applicable Termination Date will be performed away from the Company's Ft. Myexx xxfices with communications provided principally by way of telephone; however, Marxxx xxrees to provide such services at the Ft. Myexx xxfices of the Company if expressly requested to do so by senior executives of the Company and if his reasonable costs of travel to Ft. Myexx xxe paid by the Company in accordance with the Company's expense reimbursement policies. Otherwise, in the performance of such services, Marxxx xxall not be required to travel.
Transition Employment. From November 30, 2004 through December 31, 2004 (the “Transition Period”), subject to the effectiveness of the release set forth in Section H hereto, Employee will serve as an employee-advisor to the Company, with such responsibilities and duties as the Chief Executive Officer or the Chief Administrative Officer of the Company shall reasonably assign. Employee will be available for up to 40 hours of work per week as needed during normal business hours (defined as 9 AM to 5 PM (Pacific Standard Time) on each Monday through Friday, excluding Company holidays) and when reasonably necessary during non-normal business hours. During this period Employee will continue to earn his full base salary at the rate of $25,000 per month (or $300,000 on an annualized basis), paid semi-monthly in accordance with the Company’s normal payroll practices. Employee will continue to receive company benefits currently available to him including health care insurance, vacation accrual, life insurance, and disability insurance. Employee shall also continue to vest in his stock options and restricted stock during this Transition Period. The parties agree that set forth at Exhibit A is an accurate summary of Employee’s outstanding options to purchase common stock of the Company and grants of shares of restricted common stock of the Company. Employee also will be required to take time-off, either using accrued vacation or as unpaid leave, for any company-wide employee shut downs, including without limitation the shut-down currently planned to commence on December 20, 2004 and end after the Final Date of Employment (as defined below).
Transition Employment. COUNTY OF NASSAU ) AGREEMENT This Transition Employment Agreement (the “Agreement”) is entered into this 16th day of January, 2004, by and among First Capital Bank Holding Corporation, a Florida corporation (the “Company”), First National Bank of Nassau County, a national bank organized under the laws of the United States (the “Bank”), and Xxxxxxx X. Xxxxxx (the “Executive”).
Transition Employment. Consistent with the Transition Plan, Provider shall make an offer of full-time employment effective immediately after the Transition Completion Date to all Commission Personnel employed by the Commission as of the Agreement Effective Date who are engaged in a function that has been identified in the Initial Annual Business Plan as being a function that Provider will provide as part of the Services from and after the Transition Completion Date. Provider’s offer to each such Person shall be on substantially the same compensation terms applicable to that Person as of the Transition Completion Date; provided that any changes in such terms from the date of the RFI until the Transition Completion Da te shall be consistent with the Commission’s historical, ordinary course of business changes as to th e timing and aggregate amount thereof. Provider may condition the employment offer only on the Person verifying employment eligibility and satisfactorily completing typical pre-employment criminal and other background checks consistent with the Provider’s hiring procedures, but Provider may not use these conditions to rescind any such offer absent reasonable cause that is Approved. From and after the Transition Completion Da te a ll such Persons hired by Provider shall in all respects be Provider Personnel subject to the exclusive control and direction of Provider (including any and all functions and duties to be performed by such Persons). Absent reasonable cause that is Approved, Provider shall continue to employ all such hired Persons for a period of at least one (1) year following the Transition Completion Date with their principal duties to be performed in substantially the same geographic area they were performing on behalf of the Commission as of the Agreement Effective Date unless otherwise agreed by such Person. Provider is not undertaking any liability with respect to any employee benefit plan sponsored and maintained by the Commission. Any obligations or liabilities with respect to any Commission-sponsored employee benefit plan, including any accrued and vested pension, health (e.g., continuation coverage or retiree medical, if applicable) or similar benefits of Former Commission Employees, shall remain the obligation of the Commission. The Commission shall have no liability with respect to any Provider employee benefit plan.
Transition Employment. Effective January 31, 2003, the Executive shall be employed as a part-time employee of the Employer for a transition period that shall terminate on July 31, 2003 (the "Transition Period").
Transition Employment. Xxxxxxx acknowledges and agrees that she has voluntarily tendered her resignation from employment with PCB. Xx. Xxxxxxx and PCB have agreed that Xx. Xxxxxxx’x resignation shall take effect and her employment with PCB shall end as of the earlier of the following dates (the “Departure Date”): (i) the close of business on August 9, 2007; or (ii) such earlier date established under Section 1.4, below. The period between the date the parties execute this Agreement and the Departure Date is hereafter referred to as the “Transition Period.”
Transition Employment. Associate agrees that for a period of six months commencing on February 3, 2013 and ending on August 3, 2013, Associate will be employed on a part time basis to consult on transitional matters related to Staples, Inc.'s international affairs and operations. Associate will continue to be eligible for benefits as provided in Associate's Separation Letter Agreement and the underlying Amended and Restated Severance Benefits Agreement and Amendment to Severance Benefits Agreement, both attached hereto as Appendix A.
Transition Employment a. Employee agrees to continue to work for Xxxxx on a full-time basis through the Separation Date as Xxxxx’s Vice President, Treasurer and Investor Relations, continuing to be engaged and productive in that role, including actively supporting the onboarding Xxxxx’s incoming Chief Financial Officer and other duties as may be reasonably requested in the normal course of business (together, the “Transition Services”). Employee agrees to comply with all Masco policies, rules, and procedures, as amended from time to time. Through the Separation Date, Employee will continue to receive the base salary and benefits he is receiving as of the Agreement Date, subject to all required withholdings and payable in accordance with Masco’s standard payroll practices. Employee will also receive, subject to the approval of the Talent and Compensation Committee of Masco’s Board of Directors: (i) an annual cash bonus at his target amount for calendar year 2023 (payable in February 2024) adjusted for company performance; (ii) a restricted stock unit performance grant at his target amount for calendar year 2023 (granted in February 2024) adjusted for company performance; and (iii) a share award at his target amount adjusted for company performance under the long-term incentive program for 2021-2023.
b. Employee acknowledges and agrees that he must remain employed by Xxxxx through April 30, 2024, unless advance written permission is provided by Xxxxx. If Employee resigns without Xxxxx’s written permission, gives notice to terminate his employment, or is terminated for cause (as reasonably determined by Masco, which includes not successfully completing the Transition Services) prior to April 30, 2024, Employee will not be eligible for the Severance Benefits.
Transition Employment. The Surviving Corporation shall continue to employ five (the "Transition Employees") of the persons listed on Exhibit 6.13 for a period of between three and nine months after the Effective Time at a salary for each Transition Employee equal to two times his current annual base salary on the date of this Agreement, pro rated for the number of days such person is so employed. Parent shall select the Transition Employees in its sole discretion, and shall notify the Company at least 20 days prior to the Effective Time of the names of the Transition Employees selected by Parent. In the event a person listed on Exhibit 6.13 leaves his employment with the Company prior to the Effective Time or any such Transition Employee notifies Parent and the Company prior to the Effective Time that he is unwilling to continue his employment with the Surviving Corporation, the Company shall have the opportunity to provide the name of a substitute employee having similar credentials and experience for Parent to consider.
Transition Employment. From the Effective Date through the Termination Date (as such term is defined in Paragraph 10 hereof), Executive shall remain a full time employee of the Group and continue to perform Executive’s duties for the Group and shall assist in transitioning such duties in accordance with the provisions of Paragraph 3 hereof. Through the Termination Date, Executive shall continue to earn Executive’s base salary, to be paid in accordance with the Group’s normal payroll practices. Executive shall also continue to receive standard benefits available to all active employees.
