Retirement Payments definition
Examples of Retirement Payments in a sentence
Option 2: Early Retirement Payments and Accumulated Leave Payment will be paid after January 1, and before January 15, of the school year following the school year in which the teacher retires.
Option 1: Early Retirement Payments and Accumulated Leave Payment will be paid by June 30th of the year of retirement.
Employee shall render such reasonable business consulting and advisory services as the Board of Directors of the Company by written request may call upon him to provide, and as his health (in the opinion of Employee) may permit, from time to time during the period from his retirement (meaning, the date Employee begins to receive Salary Continuation Payments or Early Retirement Payments) to the earlier of the date of his death or Disability.
Monthly "Early Retirement Payments and Benefits" for employee and spouse (if applicable) shall be terminated the last day of the month prior to the calendar month in which the member becomes Medicare eligible.
Retiring Employee specifically acknowledges and agrees that the Company, in providing the Retirement Payments, has relied on the agreements and covenants of Retiring Employee contained in this Agreement and that the terms of this Agreement are reasonable and necessary for the protection of the Company.
Executive's continued employment with the Company beyond the Retirement Date shall not affect Executive's right to receive the Retirement Payments as set forth herein.
Notwithstanding anything herein to the contrary, no disability payments (or, if disability payments have begun, no further disability payments) shall be due or payable under this Section 5 (whether during or after the first 60 months of Employee's Disability) for any period for which Salary Continuation Payments or Early Retirement Payments are payable under Sections 2 or 3 hereof.
Any termination of Executive's employment or retention as a consultant under this Section 11(c) shall not affect Company's obligation to make the Retirement Payments set forth in Section 12(b) below.
If, at least 12 months before Employee otherwise would first be entitled to any Early Retirement Payments, Employee makes an election to defer his receipt of all of his Early Retirement Payments to a date that is on or before the date he attains age 65, the Company shall delay the commencement of benefits payable under this Section 3 and shall calculate the percentage reduction (if any) applicable to Employee's benefit based on Employee's age as of the date he elects for his benefits hereunder to commence.
Executive shall not be entitled to any further Retirement Payments beyond what is due hereunder by reason of Executive's continued employment beyond the Retirement Date.