Upon Employee definition
Upon Employee s death during the Employment Period, Employer shall pay to the person or entity designated by Employee in a notice filed with Employer or, if no person is designated, to Employee's estate any unpaid amounts of Base Salary to the date of Employee's death, plus any amounts as may be due under Sections 5.9 and 5.10 below. Any payments Employee's spouse, beneficiaries or estate may be entitled to receive pursuant to any pension plan, employee welfare benefit plan, life insurance policy, or similar plan or policy then maintained by Employer shall be determined and paid in accordance with the written instruments governing the respective plans and policies. In the event of Employee's death during the Employment Period, Employer shall notify Employee's designee or estate of the stock awards held by Employee and the procedures pursuant to which all vested stock options may be exercised and other stock awards may be realized under the terms applicable to such awards.
Upon Employee s retirement from the Company on or after the fourth anniversary of the Consummation Date, for purposes of calculation of the "target benefit" under the Plan, Employee shall be credited with his actual years of service with the Company, plus four (4) additional years of service under the Plan if Employee retires on or after the fourth anniversary of the Consummation Date. If the Employee's employment with the Company terminates pursuant to Section 6(a)(vi) or Section 6(a)(vii)(x) of this Agreement prior to the fourth anniversary of the Consummation Date, for purposes of calculation of the "target benefit" under the Plan, Employee shall be credited with a number of years of service equal to the sum of (a) the actual number of years of employment of the Employee with the Company and (b) four (4) years of service. If the Employee terminates his employment with the Company other than for Good Reason under this Agreement prior to the fourth anniversary of the Consummation Date, for purposes of the "target benefit" under the Plan, Employee shall be credited with a number of years of service equal to the actual years of employment of the Employee with the Company.
Upon Employee s death at any time while this Agreement is in effect (including without limitation during the period after Employee's retirement or other termination of employment) Employee's Beneficiary will be entitled to a Death Benefit consisting of the greater of the Death Benefit provided in Section 6.2, or $500,000. Employee's Beneficiary will not be entitled to any installments of Retirement Benefits.
Examples of Upon Employee in a sentence
Upon Employee request, the Employer shall notify the employee of the total amount of sick leave credits said employee has accumulated at that time.
Upon Employee receiving payments on account of the fringe benefit program covering disability provided or paid for by the Corporation, then the Employee's base salary, as defined above, will be reduced to the extent of such entitlement and receipt.
Upon Employee request, and within the first four (4) terms of employment as a GSI/GSSA, the SEVIS fee paid by an Employee to attend the University of Michigan will be reimbursed by the Employee’s appointing unit, unless that fee has already been paid or reimbursed by another source.
Upon Employee remaining in continued employment up until the Forfeiture Conditions being satisfied, the Company shall deliver to Employee one share in the Company for each DSA that is no longer a Restricted DSA within 30 days of the DSA ceasing to be a Restricted DSA.
Upon Employee providing Company with documentation verifying Employee's identity and legal authorization to work in the United States, Company agrees to employ Employee, and Employee agrees to perform the duties assigned to him for the Term of this Agreement (as defined in Section 2 of the Agreement) pursuant to the terms and conditions set forth herein.
More Definitions of Upon Employee
Upon Employee s activities (in time, product, geographic area and customer solicitation as may then be legal and valid).
Upon Employee s death, any Option held by Employee at the time of his death may be exercised by the estate or the personal representative of the estate of the Optionee within three months after the date of his death, but only to the extent that (i) the Option was exercisable according to its terms of the date of Optionee's death, and (ii) the period for the exercise of the Option has not terminated as of the date of the exercise. Upon termination of the period ending three months after Employee's death, any unexercised portion of the Option shall expire.
Upon Employee s presentment to Employer of expense reports acceptable to Employer and which are in sufficiently detailed form to comply with standards for deduction of business expenses established from time to time by the Internal Revenue Service, Employer will reimburse Employee for such expenses approved by the Employer and incurred by Employee in connection with performance of his duties hereunder.
Upon Employee s resignation as set forth in paragraph 1 hereof, the Change in Control Severance Agreement between the Company and Employee shall terminate in its entirety.
Upon Employee s retirement from Savannah, Savannah agrees to pay to Employee an amount equal to the difference between his retirement Allowance payable in accordance with the terms and provisions of the Employees' Retirement Plan of Savannah Electric and Power Company as applicable to Employee on his date of hire and as may be amended from time to time (hereinafter referred to as the "Pension Plan"), and the amount of retirement Allowance Employee would have been entitled to receive under the Pension Plan as applicable to him on his date of hire if he had first been employed by Savannah on January 1, 1980. Said amount shall be recalculated from time to time to reflect future increases, if any, in the retirement Allowance of retirees following Employee's retirement. In no event shall the amount provided in the preceding two sentences be less than the amount Employee would have received if he had continued to participate in The Southern Company Pension Plan until retirement.
Upon Employee s cessation of employment for any of the above reasons or voluntarily by Employee upon advance written notice as provided herein, Employee shall receive only accrued salary, bonus and vacation pay earned and unpaid as of the date of termination, and shall not be entitled to additional compensation.
Upon Employee s retirement from the Company at age 62 or later, for purposes of calculation of the "target benefit" under the Plan, Employee shall be credited with eleven (11) years of service under the Plan if Employee retires at the age of 62 and shall also be credited with one additional year of service for each additional year during which Employee is employed with the Company after Employee reaches the age of 62. If the Employee's employment with the Company terminates pursuant to Section 6(a)(vi) or Section 6(a)(vii)(x) prior to the date on which the Employee has reached the age of 62, for purposes of calculation of the "target benefit" under the Plan, Employee shall be credited with a number of years of service equal to the sum of (a) the actual number of years of employment of the Employee with the Company and (b) seven years of service. If the Employee terminates his employment with the Company other than for Good Reason prior to the date on which the Employee has reached the age of 62, for purposes of calculation of the "target benefit" under the Plan, Employee shall be credited with a number of years of service equal to the actual number of years of employment of the Employee with the Company.