Common use of BENEFITS PAYABLE FOR AN ELIGIBLE TERMINATION Clause in Contracts

BENEFITS PAYABLE FOR AN ELIGIBLE TERMINATION. 18.1 If this Agreement is terminated pursuant to an Eligible Termination, the Executive shall, subject to compliance with the relevant company laws, be entitled to receive payment from the Company as a termination of employment benefit an amount equal to: TS x TE ------- 12 Where: TS = means the period (in completed calendar months) from the Commencement Date to the date of termination of this Agreement as envisaged in CLAUSE 17 provided that such period shall not be less than 12 (twelve) calendar months nor more than 48 (forty-eight) calendar months; and

BENEFITS PAYABLE FOR AN ELIGIBLE TERMINATION. 18.1 If this Agreement is terminated pursuant to an Eligible Termination, the Executive shall, subject to compliance with the relevant company laws, be entitled to receive payment from the Company as a termination of employment benefit an amount equal to: TS x TE ------- 12 Where: TS = means the period (in completed calendar months) served by the Executive as an employee of the Company from the Commencement Engagement Date to the date of termination of this Agreement as envisaged in CLAUSE 17 17, provided that such period shall not be less than 12 (twelve) calendar months nor more than 48 (forty-eight) calendar months; and

BENEFITS PAYABLE FOR AN ELIGIBLE TERMINATION. 18.1 If this Agreement is terminated pursuant to an Eligible Termination, 13.1 In the event of the Executive giving notice of termination in terms of clause 11.2.1 the Executive shall, subject to compliance with the relevant company laws, be entitled to receive payment from the Company as a termination of employment benefit an amount equal to: TS x TE ------- -------- 12 Where: TS = means the period (in completed calendar months) served by the Executive as an employee of the Group from the Commencement Date engagement date to the date of termination of this Agreement as envisaged in CLAUSE 17 Agreement, provided that such period shall not be less than 12 (twelve) calendar months nor more than 48 (forty-eight) calendar months; and