Sample Employee Retirement Agreement

Randolph Bancorp, Inc. (the “Company”) and Envision Bank (the “Bank” and, together with the Company, the “Employers”) appreciate your dedicated service. This letter constitutes an agreement (“Agreement”) between you and the Employers on your departure from the Employment Contract with the Employers. THIS RETIREMENT AGREEMENT (the “Agreement”) will be entered into effective August 21, 2019 by and between BIO-RAD LABORATORIES, INC. (“Company”) and John Hertia (“Officer”) (a “PARTY” and, together, the “Parties”). It describes the agreed terms for the exit of the executive from the company as follows: all provisions of the agreement must comply with the state and federal laws in force. To allow an employee to retire well, you need to make sure that you do the paperwork correctly. If one of your employees is approaching retirement, you can use an employee withdrawal. Read more The university`s part-time work option allows the faculty to accept an appointment for a reduced time but with full-time benefits (depending on the deferred salary). This agreement is entered into in consultation with the faculty member`s dean and generally applies up to three years for 50 per cent of full-time duties for 60 per cent of their full-time salary. In return, the faculty undertakes to retire no later than a fixed date at the end of the phase. This option requires an agreement between the faculty member and his/her dean and is approved by the Propst.

Many faculties find it an attractive way to gradually retire. To take advantage of this benefit, contact the dean of your school and the University`s Benefits Division. The application form is available under www.northwestern.edu/provost/docs/phased-retirement-agreement.pdf As it is a legal document, it guarantees the rights of the employer and the outgoing worker. Since this is a written contract, both parties are aware of their obligations. It lists general information about the employee, his or her work in retirement, and the benefits he or she will receive after retirement….