Benefits Following Termination of Employment. If the Executive incurs a Termination of Employment during the Term of this Agreement, the Company shall provide the Executive the benefits described below.
Benefits Following Termination of Employment. Executive shall be -------------------------------------------- entitled to the following benefits upon a Qualified Termination:
Benefits Following Termination of Employment. (a) Upon the termination of Employee's employment by the Company, whether due to death, Disability, resignation, whether or not for Good Reason, or discharge, whether or not for Just Cause, the Company shall, commencing on the first day of the month following the date of the termination of Employee's employment, pay, or cause to be paid, to Employee in equal monthly installments the sum of $750,000 per year (the "Annual Amount"), for a period equal to the greater of (x) 15 years, (y) the life of Employee, or (z) the life of Rolaxxx X. Xxxxxxxx so long as she is married to Employee at the date of Employee's death ("Employee's Spouse"); provided, however, that in the event of the termination of Employee's employment due to death or Disability prior to March 31, 2001, the Annual Amount described above shall equal $950,000 until March 31, 2001, after which time the Annual Amount shall equal $750,000; and provided further that Employee shall not be entitled to any amounts under this Section 4.4 if Employee's employment is terminated prior to a Change in Control for Just Cause or without Good Reason. In addition, until January 1, 2001, the Annual Amount shall be adjusted annually to reflect increases in the cost of living after the date hereof, as measured by the Consumer Price Index ("CPI") for all urban consumers calculated by the Bureau of Labor Statistics (or any successor or replacement index), after which time the Annual Amount shall be increased at a rate of five percent (5%) per annum.
Benefits Following Termination of Employment. The benefits described below shall be payable to the Executive upon the occurrence of a Vesting Date during the Term of this Agreement (which benefits shall be paid in accordance with the provisions of Section 5).
Benefits Following Termination of Employment. (a) Upon the termination of the Employee’s employment by the Company without Cause or by the Employee for Good Reason, during any Standstill Period following a Change of Control (a “Qualified Termination”), the Company shall, within thirty (30) days following the Date of Qualified Termination, pay to the Employee in a lump sum an amount equal to (x) times the Employee’s Base Salary in effect immediately prior to the Date of Termination plus (y) times the average amount of the Bonus payable to the Employee for the fiscal years ending on or immediately prior to the Date of Termination.
Benefits Following Termination of Employment. (This provision amends and is substituted for the provisions of Section 4.4(c) of the Employment Agreement.) Xxxxxxxx'x benefits described in Section 3.3 of the Employment Agreement shall be continued during the Severance Period, either pursuant to the applicable plan or, in the sole discretion of the Company, on an unfunded basis by the Company, or in the case of medical and dental coverage, on an insured basis by the purchase of an individual policy, provided Xxxxxxxx'x employment is not terminated for Cause. Xxxxxxxx shall not be entitled to participate in the Company's Savings Plan and shall not be entitled to contribute Deferral Amounts to the Supplemental Executive Benefits Plan following his termination of employment. Xxxxxxxx shall be entitled to receive all pension benefits accrued pursuant to the terms of the Company's Pension Plan and Supplemental Executive Benefits Plan to the date of termination and thereafter until the end of the Severance Period. The Severance Period shall be credited as benefit service and the compensation received by Xxxxxxxx during such Severance Period shall constitute compensation for pension accrual purposes under the Supplemental Executive Benefits Plan to the extent not taken into account for pension accrual purposes under the Pension Plan, except as otherwise provided in the event of a Change in Control under Section 4.5(d)(vii) of the Employment Agreement. Such benefits shall be deemed to relate to services by Xxxxxxxx prior to the execution date of this Agreement and from and after the date of this Agreement, Xxxxxxxx shall have the irrevocable right (provided he is not terminated for Cause) to receive such benefits during the Severance Period.
Benefits Following Termination of Employment. (a) Upon the termination of the Executive's employment by the Company without Cause (except termination pursuant to a mandatory retirement policy applied by the Company to all its senior executives), or by the Executive for Good Reason, during any Standstill Period following a Change of Control (a "Qualified Termination"), the Company shall, within thirty (30) days following the Date of Qualified Termination, pay to the Executive in a lump sum an amount equal to (i) two (2) times the Executive's Base Salary in effect immediately prior to the Date of Termination plus (ii) two (2) times the average amount of the Bonus payable to the Executive for the two (2) fiscal years ending on or immediately prior to the Date of Termination.
Benefits Following Termination of Employment. (a) In the event the termination of the Executive's employment by the Company without Cause (except a termination (i) pursuant to a mandatory retirement policy applied by the Company to all its senior executives, or (ii) due to the death or disability of the Executive), or by the Executive for Good Reason, during any Standstill Period following the Change of Control (a "Qualified Termination"), the Company shall continue to pay Executive his Base Salary in accordance with the normal and customary payroll practices of the Company for the period from the Date of Qualified Termination through the end of the Severance Period, and in addition, if the Qualified Termination occurs in the fourth fiscal quarter of the Company's fiscal year and the Executive is then a participant in any bonus or performance based incentive plan for such fiscal year, the Executive shall remain entitled to, and the Company shall pay, the Executive his pro-rata share of the bonus or incentive compensation due for such fiscal year, prorated based on the number of days the Executive was employed by the Company during such fiscal year, (i.e. from the beginning of such year to the date of the Qualified Termination).
Benefits Following Termination of Employment. (a) Upon the termination of the Employee’s employment by the Company without Cause or by the Employee for Good Reason, during any Standstill Period following a Change of Control (a “Qualified Termination”), the Company shall, within thirty (30) days following the Date of Qualified Termination, pay to the Employee in a lump sum an amount equal to (x) (___) times the Employee’s Base Salary in effect immediately prior to the Date of Termination plus (y) (___) times the average amount of the Bonus payable to the Employee for the (___) fiscal years ending on or immediately prior to the Date of Termination.
Benefits Following Termination of Employment. (a) Upon the termination of the Executive's employment by the Company without Cause or by the Executive for Good Reason, during any Standstill Period following a Change of Control (a "Qualified Termination"), the Company shall, within thirty (30) days following the Date of Qualified Termination, pay to the Executive in a lump sum an amount equal to (x) three (3) times the Executive's Base Salary in effect immediately prior
