Scheduled Retirement Date definition

Scheduled Retirement Date means Executive's sixty-fifth (65th) birthday.
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Scheduled Retirement Date shall be the earlier of January 2, 2021 or the termination of Executive’s employment with the Board’s approval in its sole discretion as set forth under Section 4(a) below (the “Scheduled Retirement Date”). The term of this Agreement shall commence on the Effective Date and end on the Scheduled Retirement Date, subject to earlier termination under Section 4(b) or Section 4(c) below (the “Term”). Executive shall continue to serve as CEO during the Term and shall perform such duties as are customarily associated with the position of CEO, consistent with the bylaws of the Company and as required by the Board. The employment relationship between Executive and the Company shall continue to be governed by the general employment policies and practices of the Company for the Term. Notwithstanding the foregoing, when the terms of this Agreement differ from or are in conflict with the Company’s general employment policies or practices, this Agreement shall control. Executive shall resign as an officer of the Company, and offer to resign as a member of the Board of the Company and its Subsidiaries (as defined in Section 4(d) below), effective upon the end of the Term. Following the end of the Term, the Company will owe no further payments, duties or obligations to Executive other than as provided for in this Agreement and as may be earned under the Consulting Agreement (as defined in Section 6 below).
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Examples of Scheduled Retirement Date in a sentence

  • If the Executive continues employment after the Scheduled Retirement Date such employment shall no longer be subject to the terms of this Agreement but shall continue on an “at-will” basis and/or subject to such terms and conditions as the parties may mutually agree at such time.

  • The Term "Scheduled Retirement Date" shall mean Executive's sixty-fifth (65th) birthday.

  • If Executive gives notice to DIRECT III under Section 9(a) of Executive's intention that the term of employment not be extended and, as a result, Executive's employment terminates before the Scheduled Retirement Date, Executive shall be deemed to have terminated Executive's employment without Good Reason as of the expiration of the current term.

  • Any decision by the Company not to renew this Agreement at any time during the Term, or to terminate this Agreement for any reason other than for Cause, death or disability, prior to the Scheduled Retirement Date shall be treated as a termination without Cause.

  • This Agreement shall have a three (3) year term which shall commence as of the Effective Date and shall automatically renew on each anniversary of the Effective Date for a new three (3) year term, but not beyond the Scheduled Retirement Date, unless sooner terminated pursuant to Section 4 of this Agreement (“Term”).

  • Upon such a not for-Cause termination, each of the Company and Executive will be released from any and all further obligations under this Agreement except: (i) that the Company will pay to Executive the base salary and the applicable year’s Short-Term Incentive Plan benefit Executive would have earned if he had remained employed through the Scheduled Retirement Date; and (ii) as described in Section 6(d).

  • The term of this Agreement shall commence on the Effective Date and end on the Scheduled Retirement Date, subject to earlier termination under Section 4(b) or Section 4(c) below (the “Term”).

  • If the Executive continues employment after the Scheduled Retirement Date, such employment shall no longer be subject to the terms of this Agreement but shall continue on an “at-will” basis and/or subject to such terms and conditions as the parties may mutually agree at such time.

  • The Company shall enforce the noncompetition and non-solicitation restrictions under the Confidentiality & Noncompetition Agreement for a period of one (1) year from your Scheduled Retirement Date (“Non-Compete Period”).

  • Notwithstanding the foregoing, in no event will the Company be required to enter into the Consulting Agreement if Executive resigns prior to January 2, 2021 without written Board approval, the Company terminates Executive’s employment for Cause or there is a Change in Control (as defined in the Severance Agreement) prior to the Scheduled Retirement Date.

Related to Scheduled Retirement Date

  • Postponed Retirement Date means the first day of the month coincident with or next following a Participant’s date of actual retirement which occurs after his Normal Retirement Date.

  • Scheduled Termination Date means the date that is 364 days from (and including) the Effective Date, or any succeeding date to which the term of this Agreement is extended pursuant to Section 2.03.

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).

  • Normal Retirement Date means the later of the Normal Retirement Age or Termination of Employment.

  • Late Retirement Date means the first day of the month coinciding with or next following a Participant's actual Retirement Date after having reached his Normal Retirement Date.

  • Early Retirement Date means the Retirement, as defined below, of the Executive on a date which occurs prior to the Executive attaining sixty-two (62) years of age, but after the Executive has attained fifty-five (55) years of age.

  • Earliest Retirement Age means the earliest date on which, under the Plan, the Participant could elect to receive retirement benefits.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Scheduled Commitment Termination Date means May 24, 2016, as such date may be extended by mutual agreement of the parties hereto (each, in their sole and absolute discretion) pursuant to Sections 2.21 and 12.01(b).

  • Approved Retirement means any voluntary termination of employment that occurs on or after the date on which the sum of your age and years of employment with Deluxe and/or its Affiliates equals at least seventy-five (75) and that is approved by the Compensation Committee of the Board.

  • Accrual Termination Date Not applicable.

  • Scheduled Final Payment Date means, with respect to each Tranche of Securitization Bonds, the date when all interest and principal is scheduled to be paid with respect to that Tranche in accordance with the Expected Amortization Schedule, as specified in the Series Supplement. For the avoidance of doubt, the Scheduled Final Payment Date with respect to any Tranche shall be the last Scheduled Payment Date set forth in the Expected Amortization Schedule relating to such Tranche. The “last Scheduled Final Payment Date” means the Scheduled Final Payment Date of the latest maturing Tranche of Securitization Bonds.

  • Retires shall refer to the date which the Executive acknowledges in writing to Employer to be the last day the Executive will provide any significant personal services, whether as an employee or independent consultant or contractor, to Employer. For purposes of this Agreement, the phrase "significant personal services" shall mean more than ten (10) hours of personal services rendered to one or more individuals or entities in any thirty (30) day period.

  • Service Termination Date means the last Day in a month upon which Service shall terminate, as set forth in a Schedule of Service and subject to any renewal thereof.

  • Severance from Service Date means the earlier of:

  • Employment Date means the first date as of which an Employee is credited with an Hour of Service, provided that, in the case of a Break in Service, the Employment Date shall be the first date thereafter as of which an Employee is credited with an Hour of Service.

  • Qualified Retirement means a retirement from Service by the Executive in which, at the time of such retirement, the sum of the Executive’s age and aggregate 12-month completed periods of Service (whether or not such completed 12-month periods are consecutive), in each case without giving credit for any partial years, equals or exceeds 75.

  • Effective Termination Date has the meaning set forth in Section 10(b) hereof.

  • Last Scheduled Distribution Date The Distribution Date in the month immediately following the month of the latest scheduled maturity date for any of the Mortgage Loans.

  • Mandatory Termination Date means the "Termination Date" set forth under "Investment Summary--Essential Information" in the Prospectus for the Trust.

  • Premium Termination Date With respect to the Series A Certificates, the scheduled maturity date of the Series A Certificates, with respect to the Series B Certificates, the scheduled maturity date of the Series B Certificates and with respect to the Series C Certificates, the scheduled maturity date of the Series C Certificates.

  • Anticipated Termination Date Any Distribution Date on which it is anticipated that the Trust Fund will be terminated pursuant to Section 9.01(c) of this Agreement.

  • Offering Termination Date means the last day of each March, June, September and December following an Offering Commencement Date, or such other Offering Termination Date established in connection with a Terminating Event.