Additional Benefit. If a Change in Control occurs and this Agreement becomes operative and thereafter Employee's employment is terminated by the Company without cause or by Employee for good reason, whether such termination occurs before, on, or after the Contract Expiration Date, the Company shall pay and provide benefits to or with respect to Employee in such amounts and at such times so that the aggregate benefits payable to or with respect to Employee under the Salaried Plan and the Excess Benefit Plans will be equal to the aggregate benefits that would have been paid to or with respect to Employee under the Salaried Plan and the Excess Benefit Plans if Employee were exactly five years older than his actual age and his credit under the Salaried Plan and the Excess Benefit Plans were equal to the greater of his actual service or the amount of service he is deemed to have under paragraph 12(a)(iv), below. If Employee's employment is terminated after a Change in Control by the Company without cause or by Employee for good reason and Employee is entitled to additional benefits by virtue of the additional five years of deemed age provided for in this Paragraph 8, then the Company shall directly provide such benefits to Employee in the same manner as additional benefits are to be provided to Employee under paragraph 12(a), below.
Additional Benefit. The supplemental compensation benefits provided by this Agreement are granted by the Employer as an additional benefit to the Employee and are not part of any Salary reduction plan or an arrangement deferring a bonus or a salary increase. The Employee has no option to take any current payment or bonus in lieu of these supplemental compensation benefits except as set forth hereinafter. No death benefits are provided under this Agreement, except for any Supplemental Benefits provided through a secular trust pursuant to Paragraph IX. No benefits, other than any Supplemental Benefits provided through a secular trust pursuant to Paragraph IX, are payable under this Agreement following the death of the Employee to any beneficiary, devisee, heir, successor or estate.
Additional Benefit. The Officer shall receive the benefit of any change made by the Company in the calculation or entitlement of severance compensation following a Change of Control for any other officer of the Company, such as an agreement by the Company to "gross up" the compensation paid to an officer by paying the excise tax imposed by Section 280G of the Internal Revenue Code .
Additional Benefit. A teacher participating in the Retirement Program for Teachers shall also be eligible to receive the severance pay benefits in this Agreement, subject to the terms of Sections 18.1.
Additional Benefit. Should any changes be made to the City policy increasing the employees’ benefits regarding this section, the members of this bargaining unit shall be entitled to said increases.
Additional Benefit. Employee represents and agrees that the Company’s payment of the Severance described above is not required by any agreement or by any of the Company’s policies or procedures or by any act or omission by the Company or any Releasee, or any of them. Employee understands that the Severance is an additional benefit for which Employee is not eligible unless Employee elects to sign this Agreement.
Additional Benefit. As an additional Change of Control benefit, for six months following a Termination of Employment, Employer shall continue to provide any health insurance benefits to Executive and his or her dependents, which were provided as of the date of the Change of Control.
Additional Benefit. The District will pay unit member $1,700 in 2013 – 2014, $1750 in 2014 – 2015, and $1750 in 2015 – 2016 per unit member annually toward a TSA or salary. Upon expiration of this contract, this benefit will return to $1700.
Additional Benefit. Retirement and Spouse's death benefit under 5.1 through 5.3 shall be in addition to and shall not reduce or be reduced by any benefits under the Supplemental Income Plan, the Excess Deferral Plan, the Profit Sharing Plan or any other plan maintained by the Company or an affiliate.
Additional Benefit. For a period of 12 months following the Termination Date, the Company will provide Employee, at no cost to him, with an access card for WeWork facilities in the New York City metropolitan area that provides at least the same level of access that Employee has as of the Termination Date, and will continue to reimburse Employee for his monthly parking on the same basis as currently. The Company may, in its sole discretion, elect to pay Employee a lump sum equal to the cost of the benefits that would otherwise be provided pursuant to this Section 2.D
