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 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.
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 seven (7) 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) seven (7) 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.
Examples of Upon Employee in a sentence
Subparts B–C [Reserved]Subpart D—Regulatory Limitations Upon Employee Conduct§ 0.735–10 Administrative extension of statutory limitations.The provisions of the statutes identi- fied in this part which relate to the ethical and other conduct of Federal employees are adopted and will be en- forced as administrative regulations, violations of which may in appropriate cases be the basis for disciplinary ac- tion, including removal.
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 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 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.
More Definitions of Upon Employee
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 fifteen (15) years of service with the Company. 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) seven (7) 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 or total incapacity, Employer shall be obligated to pay the base salary only to Employee or his estate, as applicable, for the balance of the initial term of this Agreement.
Upon Employee s death or Disability, the Company shall have the right to terminate this Agreement immediately. Upon such termination, the Employee (or his estate) shall be entitled to receive from the Company as severance upon such termination, the compensation and benefits, as provided in Sections 5.2, 5.3, and 5.4, through the date of Employee's death or Disability.
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.
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 retirement from SCS, the Companies agree to pay to Employee an amount equal to the difference between his Retirement Income or Allowance, as applicable, payable in accordance with the terms and provisions of The Southern Company Pension Plan, as may be amended from time to time ("Pension Plan"), and the amount of Retirement Income or Allowance Employee would have been entitled to receive under the Pension Plan if he had first been employed by the Companies on January 1, 1980. Said amount shall be recalculated from time to time to reflect future increases, if any, in Retirement Income or Allowance of retirees, as applicable, following Employee's retirement.