Transition Employment. From October 16, 2004 through January 15, 2005 (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 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 $22,920 per month (or $275,000 on an annualized basis), paid semi-monthly in accordance with the Company’s normal payroll practices. Employee will continue to receive standard company benefits available to employees 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. (1) From the date hereof, through and including the Applicable Termination Date, and for no additional compensation other than provided in this Agreement, Xxxxxx shall 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 Xxxxxx'x departure from the Company on the Applicable Termination Date; provided that such services shall not exceed, without the consent of Xxxxxx, twenty 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 Xxxxxx Xxxxxxxx or Xxxxx Xxxxxxx or as otherwise may be authorized in writing by Xxxxxx Xxxxxxxx or Xxxxx Xxxxxxx. During the Base Employment Continuation Period and any Extended Employment Continuation Period, the Company shall have the right to control and direct Xxxxxx not only as to the results to be accomplished by Xxxxxx but also as to the detail and means by which such results are accomplished by Xxxxxx. The parties acknowledge that, among other matters, Xxxxxx'x services 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.
Transition Employment. In consideration of, and as a condition to receiving the severance benefits described in Section 5 of this Agreement, Employee agrees that, if Employee is terminated as a result of a Change in Control, he shall, if requested by the buyer or acquiror, remain employed for a transition period of a mutually agreeable term not to exceed three (3)
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. Xx. 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.
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.
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. 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”).
