RETIREMENT, RESIGNATION AND ALTERATION OF EMPLOYMENT Clause Samples

RETIREMENT, RESIGNATION AND ALTERATION OF EMPLOYMENT. 19.1 Traditional Retirement Date (TRD) 19.1.1 For the purposes of this Article, the Traditional Retirement Date (TRD) for Members whose sixty- fifth (65th) birthday occurs between July 1 and December 31 is the December 31 coincident with or following their sixty-fifth (65th) birthday. For a Member whose sixty-fifth (65th) birthday occurs between January 1 and June 30 the TRD is the June 30 coincident with or following their sixty-fifth (65th) birthday. The TRD is also referred to as the Normal Retirement Date (NRD). 19.1.2 Members who continue working at the University of Northern British Columbia beyond their TRD will continue to receive benefits and make pension plan contributions as outlined below. Regular salary will continue to be paid. Members who choose to work beyond the TRD are required to continue the full scope of their normal duties and are subject to the evaluation procedures as stipulated in Article 21.
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RETIREMENT, RESIGNATION AND ALTERATION OF EMPLOYMENT 
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Related to RETIREMENT, RESIGNATION AND ALTERATION OF EMPLOYMENT

  • Compensation Following Termination of Employment In the event that Executive's employment hereunder is terminated, Executive shall be entitled to the following compensation and benefits upon such termination:

  • Severance Compensation upon Termination of Employment If the Company shall terminate the Executive’s employment other than pursuant to Section 5(a), (b) or (c) or if the Executive shall terminate his employment for Good Reason, then the Company shall pay to the Executive as severance pay in a lump sum, in cash, on the fifth day following the Date of Termination, an amount equal to three (3) times the average of the aggregate annual compensation paid to the Executive during the three (3) fiscal years of the Company immediately preceding the Change of Control by the Company subject to United States income taxes (or, such fewer number of fiscal years if the Executive has not been employed by the Company during each of the preceding three (3) fiscal years).

  • Voluntary Termination of Employment If during the Employment Term, Executive terminates his employment under circumstances other than those specified elsewhere in this Section 8, Executive shall be entitled to the payments and benefits specified in Section 8(a).

  • Resignation of Employment The Executive confirms his/her resignation of his/her employment and of his/her position as an officer of the Company effective (the “Resignation Date”). The parties hereby acknowledge and agree that the Executive’s resignation of employment constitutes a “separation from service” from the Company within the meaning of Section 409A(a)(2)(A)(i) of the Internal Revenue Code of 1986, as amended (the “Code”), and Treasury Regulation Section 1.409A-1(h) (a “Separation from Service”). As of the Resignation Date, the Employment Agreement shall automatically terminate and be of no further force and effect, and neither the Company nor the Executive shall have any further obligations thereunder, except as expressly provided herein. Notwithstanding the foregoing, the Company shall be obligated to Executive for severance payments and continuation of benefits as contemplated by Section 7 of the Employment Agreement and as set forth in Section 3 below.

  • Compensation Upon Termination of Employment If the Executive’s employment hereunder is terminated, in accordance with the provisions of Article III hereof, and except for any other rights or benefits specifically provided for herein to be effective following the Executive’s period of employment, the Company will provide compensation and benefits to the Executive only as follows: