Benefit Termination Date. Base Salary (rate as of Separation Date) Eighteen (18) months (78 weeks) ("Salary Continuation Period") from last day worked ("Separation Date"). PTO and Service Credit Separation Date (accrued PTO will be paid within thirty (30) days of Separation Date) Use of Credit Cards Separation Date. Bonus — Payment Eligibility (i) Eligible for prior year bonus if terminated during payment year but prior to payment; (ii) eligible for prorated bonus for current year if in job for more than six (6) months and separation occurs after June 30; (iii) not eligible for bonus for year following Separation Date. Group Health End of Salary Continuation Period. Eighteen (18) month COBRA rights period for health insurance will commence on Separation Date. (See also paragraph 10) Retaining Existing Stock Options for Vesting and Other Rights Annual options continue to vest and can be exercised through the end of Salary Continuation Period. Exercise of vested annual options after Salary Continuation Period per plan rules. Accelerated vesting of all annual options if Change of Control (as defined in paragraph 11) occurs during Salary Continuation Period Restricted Stock (Non-TARSAP) Separation Date. Eligibility for New Stock Options Separation Date. TARSAP II Next potential vesting installment of TARSAP II, after Separation Date, if the installment is earned will vest for Executive (all, part, or none) at the CEO's and HRC's discretion. If a Change in Control as defined in Executive's Severance Agreement occurs during Salary Continuation Period, Executive will only be entitled to the next potential vesting installment of TARSAP II not otherwise earned. Unvested shares at the end of Salary Continuation are forfeited. Use of Financial Counseling per Plan Provisions End of Salary Continuation Period. The maximum remaining benefit shall be annual benefit remaining as of Separation Date. Savings and Retirement Plan Deduction (Active Participation) Separation Date. Employee Supplemental Savings Plan (ESSP) (Active Participation) Separation Date. ESSP distribution date will commence when Salary Continuation ends, in accordance with plan and as selected by Executive previously.
Appears in 1 contract
Benefit Termination Date. Base Salary (rate as of Separation Date) Eighteen (18) months (78 weeks) ("Salary Continuation Period") from last day worked ("the Separation Date"). Date PTO and Service Credit Separation Date (accrued PTO will be paid within thirty (30) days of Separation Date) ). Use of Credit Cards Separation Date. Bonus — Date Bonus—Payment Eligibility (i) Eligible for prior year bonus if Executive's employment is terminated during payment year but prior to payment; (ii) eligible for prorated bonus for current year if in job for more than six (6) months and separation Separation Date occurs after June 30; (iii) not eligible for bonus for year following Separation Date. Group Health Insurance, including health, vision, dental insurance and contributions to health care spending accounts within company policy, (excluding life insurance) End of Salary Continuation Period; provided, however, that Executive shall be eligible for the continuation of health insurance benefits for the Life Coverage Period as provided under the provisions of paragraph 10 below. Eighteen If the Life Coverage Period benefits are not applicable, the eighteen (18) month 18)-month COBRA rights period for health insurance will commence on Separation Datethe last day of the Salary Continuation Period. Xxxxxx'x Benefit Service Center will furnish the COBRA information. Executive has thirty-one (See also paragraph 1031) days from the last day of the month in which he is actively at work to convert his life insurance. Executive must contact Xxxxxx'x Benefit Service Center to obtain the required form to effectuate the conversion of his life insurance Retaining Existing Stock Options for Vesting and Other Rights Annual options Stock Options and/or Stock Appreciation Rights ("SARS") continue to vest and can be exercised through the end of Salary Continuation Period. Exercise of vested annual options Stock Options/SARS after Salary Continuation Period per plan rules. Accelerated vesting of all annual options Stock Options/SARS if Change of Control (as defined in paragraph 1111 below) occurs during Salary Continuation Period Period. Restricted Stock (Non-TARSAP) Separation Date. Date Eligibility for New Stock Options SARS Separation Date. TARSAP II Next potential vesting installment of TARSAP II, after Separation Date, if the installment is earned will vest for Executive (all, part, or none) at the CEO's and HRC's discretion. If a Change in Control as defined in Executive's Severance Agreement occurs during Salary Continuation Period, Executive will only be entitled to the next potential vesting installment of TARSAP II not otherwise earned. Unvested shares at the end of Salary Continuation are forfeited. Use of Financial Counseling per Plan Provisions End of Salary Continuation Period. The maximum remaining benefit shall be annual benefit remaining as of Separation Date. Savings and Retirement Plan Deduction (Active Participation) Separation Date. Employee Supplemental Savings Plan (ESSP) (Active Participation) Separation Date. ESSP distribution date will commence when Salary Continuation ends, in accordance with plan and as selected by Executive previously.
Appears in 1 contract
Benefit Termination Date. Base Salary (rate as of Separation Date) Eighteen (18) months (78 months(78 weeks) ("Salary Continuation Period") from last day worked ("Separation Date"). PTO and Service Credit Separation Date (accrued PTO will be paid within thirty (30) days of Separation Date) Use of Credit Cards Separation Date. Bonus — Bonus—Payment Eligibility (i) Eligible for prior year bonus if terminated during payment year but prior to payment; (ii) eligible for prorated bonus for current year if in job for more than six (6) months and separation occurs after June 30; (iii) not eligible for bonus for year following Separation Date. Group Health End of Salary Continuation Period. Eighteen (18) month COBRA rights period for health insurance will commence on Separation Date. (See also paragraph 10) Retaining Existing Stock Options for Vesting and Other Rights Annual options continue to vest and can be exercised through the end of Salary Continuation Period. Exercise of vested annual options after Salary Continuation Period per plan rules. Accelerated vesting of all annual options if Change of Control (as defined in paragraph 11) occurs during Salary Continuation Period Eligibility for New Restricted Stock (Non-TARSAP) Separation Date. Eligibility for or New Stock Options Separation Date. TARSAP II Next potential vesting installment of TARSAP II, after Separation Date, if the installment is earned will vest for Executive (all, part, or none) at the CEO's and HRC's discretion. If a Change in Control as defined in Executive's Severance Agreement occurs during Salary Continuation Period, Executive will only be entitled to the next potential vesting installment of TARSAP II not otherwise earned. Unvested shares at the end of Salary Continuation are forfeited. Use of Financial Counseling per Plan Provisions End of Salary alary Continuation Period. The maximum remaining benefit shall be annual benefit remaining as of Separation Date. Savings and Retirement Plan Deduction (Active Participation) Separation Date. Deferred Compensation Plan (DCP) Separation Date. DCP distribution date will commence when Salary Continuation ends, in accordance with plan and as selected by Executive previously. Employee Supplemental Savings Plan (ESSP) (Active Participation) Separation Date. ESSP distribution date will commence when Salary Continuation ends, in accordance with plan and as selected by Executive previously.
Appears in 1 contract
Benefit Termination Date. Base Salary (rate as of Separation Date) Eighteen (18) months (78 weeks) ("Salary Continuation Period") from last day worked ("Separation Date"). PTO and Service Credit Separation Date (accrued PTO will be paid within thirty (30) days of Separation Date) Use of Credit Cards Separation Date. Bonus — Bonus—Payment Eligibility (i) Eligible for prior year bonus if terminated during payment year but prior to payment; (ii) eligible for prorated bonus for current year if in job for more than six (6) months and separation occurs after June 30; (iii) not eligible for bonus for year following Separation Date. Group Health End of Salary Continuation Period. Eighteen (18) month COBRA rights period for health insurance will commence on Separation Date. (See also paragraph 10) Retaining Existing Stock Options for Vesting and Other Rights Annual options continue to vest and can be exercised through the end of Salary Continuation Period. Exercise of vested annual options after Salary Continuation Period per plan rules. Accelerated vesting of all annual options if Change of Control (as defined in paragraph 11) occurs during Salary Continuation Period Eligibility for New Restricted Stock (Non-TARSAP) Separation Date. Eligibility for or New Stock Options Separation Date. TARSAP II Next potential vesting installment of TARSAP II, after Separation Date, if the installment is earned will vest for Executive (all, part, or none) at the CEO's and HRC's discretion. If a Change in Control as defined in Executive's Severance Agreement occurs during Salary Continuation Period, Executive will only be entitled to the next potential vesting installment of TARSAP II not otherwise earned. Unvested shares at the end of Salary Continuation are forfeited. Use of Financial Counseling per Plan Provisions End of Salary Continuation Period. The maximum remaining benefit shall be annual benefit remaining as of Separation Date. Savings and Retirement Plan Deduction (Active Participation) Separation Date. Deferred Compensation Plan (DCP) Separation Date. DCP distribution date will commence when Salary Continuation ends, in accordance with plan and as selected by Executive previously. Employee Supplemental Savings Plan (ESSP) (Active Participation) Separation Date. ESSP distribution date will commence when Salary Continuation ends, in accordance with plan and as selected by Executive previously.
Appears in 1 contract