Sar Agreement

The Arctic Search and Rescue Agreement is the first binding agreement negotiated under the auspices of the Arctic Council. The treaty reflects the growing economic importance of the Arctic region due to its increased accessibility due to global warming. [2] [1] 9. Consequences of termination of employment or death. If the employee is placed on leave for a period of more than twelve months (except on leave authorized by the board of directors or the committee) or, for any reason, the death is no more than an employee of the company, the part of the SARs that, on the day the employee ceased to be an employee, is no longer concerned or has been on leave for more than twelve months (with the exception of leave authorized by the office or the committee) expires on that day, and any un exercised portion of the SSRs that may have been otherwise exercised on that day expires on the date prior to (i) the expiry of the SRs in accordance with the term for which the SSRs were granted; or (ii) three months from that date, except in the case of a staff member defined as "certified retiree" as set out below. If the employee is a certified retiree, the SARs expire earlier than (i) the expiry of these SRs in accordance with their original term or (ii) the expiration of five years from the date of retirement. Notwithstanding the above rate, the approved retiree153s sars subasin accordance expires immediately with respect to the number of MI Shares granted under this Agreement, multiplied by (a) the number of days following the date of retirement of the Approved Retiree153s and before , (b) the number of days on the date of grant and before . In the event of the death of an employee without approved retiree status for three (3) months after the termination of the employment relationship or a leave of 12 (12) months (with the exception of a leave authorized by the board of directors or the committee), employee`s SARs153 may be exercised by personal representatives, heirs or legatees in the same proportion and during the same period, in which the employee could have exercised RAD if the employee had not died. In the event of the death of the employee as an employee of the company or as a certified retiree, the RAD (when the waiting time has elapsed) may be exercised in its entirety by the personal representatives, heirs or legatees of Employee153s at any time before the end of one year from the date of the employee`s death. but in no case according to the duration for which the RAD was granted.. . .