Benefits Payable Upon Termination of Employment. Upon termination of employment as set forth in Section 2 (Termination Following a Change in Control), Executive will be entitled to the following benefits:
Benefits Payable Upon Termination of Employment. 6.1 Except as specifically provided in this Agreement or required by applicable law, upon termination of the employment relationship between Company and Executive for any reason, all duties and obligations of Company to Executive and all rights, remedies, compensation, Benefits, privileges, grants and options of Executive shall cease and terminate as of the Exit Date; provided, however, that Executive shall be entitled to receive the following: (a) payment of accrued but unpaid Base Salary up to the Exit Date, if any, (b) any Annual Target Performance Bonus earned but unpaid for the year preceding the year in which the Exit Date falls, (c) unreimbursed business expenses, and (d) any vested or accrued benefits as of the Exit Date under any benefit plans maintained, or contributed to, by the Company, or any disability benefits program sponsored by the Company (excluding for such purposes any stock option or similar plans), subject to the terms and conditions of each such plan or program.
6.2 Executive shall be entitled to the compensation and benefits specified in Section 6.3 hereof if Executive’s employment by Company is terminated (a) by Company, other than by reason of any of the events set forth in Section, 6.4 or 6.5 below, or (b) by Executive as a result of any of the following: (i) a material breach by the Company of this Agreement; (ii) a change in Executive’s position with the Company that materially reduces the Executive’s level of authority, responsibilities, or duties; (iii) a material reduction in the Executive’s fixed annual salary or benefits; (iv) a change by the Company of Executive’s primary place of work to a new location that is more than fifty (50) miles from the location initially established by Executive; or (v) failure by the Company’s shareholders to approve the grant of restricted shares set forth in Section 3.2 hereof by September 30, 2015. In the event that Executive seeks to terminate his employment pursuant to this Section, he must first provide the Company with thirty (30) days written notice and an opportunity to cure pursuant to Section 9 of this Agreement.
6.3 Upon termination of employment as set forth in Section 6.2 or Section 8 of this Agreement, and on the condition of signing a separation agreement including a plenary release in a form acceptable to the Company, Executive shall be entitled to the following:
Benefits Payable Upon Termination of Employment. 6.1 Upon termination of Employee’s employment by Company, other than by reason of any of the events set forth in Section 6.2 below, Employee shall be entitled to the following:
Benefits Payable Upon Termination of Employment. 6.1 Except as specifically provided in this Agreement or required by applicable law, upon termination of the employment relationship between Company and Executive, all duties and obligations of Company to Executive and all rights, remedies, compensation, Benefits, privileges, grants and options of Executive shall cease and terminate as of the Exit Date.
6.2 Executive shall be entitled to the compensation and benefits specified in Section 6.3 hereof if Executive’s employment by Company is terminated by Company, other than by reason of any of the events set forth in Section 6.4 below.
6.3 Upon termination of employment as set forth in Section 6.2 hereof, Executive shall be entitled to the following:
Benefits Payable Upon Termination of Employment. Upon termination of employment as set forth in Section 1, you shall be entitled to the following benefits:
Benefits Payable Upon Termination of Employment. If a Participant's Service is terminated for any reason other than his retirement, death or total and permanent disability, his participation in the Plan will terminate upon the occurrence of a Break in Service. Each Participant shall be fully vested in his Account Balance. Upon incurring a one year Break in Service, the Participant may file a written claim for benefits with the Plan Administrator, on a form provided by the Plan Administrator for that purpose, requesting distribution of his Account Balance. Notwithstanding the preceding sentence, effective as of May 1,1999, if a Participant has attained age 60 and has completed 20 or more Years of Service as of his termination of Employment, the Participant's Account Balance, upon request of the Participant, will be distributed as soon as administratively practicable following Participant's termination of Employment. His Account Balance in the Plan shall be determined, with respect to the ESOP Account, as of the Annual Valuation Date immediately preceding the payment of such Account, provided that the Employer Stock allocated to his Account shall be valued based on the closing sales price of the Employer Stock as of the last trading day of the calendar month immediately preceding the month in which payment commences and, with respect to the Non-Employer Securities Portion of the Plan, as of the Valuation Date coincident with or next preceding the date payment commences.
Benefits Payable Upon Termination of Employment. 3.1 Executive will be entitled to the benefits specified in Section 3.2 hereof if Executive's employment by the Company is terminated by the Company, other than by reason of death, disability, continuous willful misconduct to the detriment of the Company, or retirement pursuant to the Company's Employees' Retirement Plan (or any successor pension plan thereto) (the "Retirement Plan"). Executive will not be entitled to the benefits specified in Section 3.2 hereof if Executive's employment terminates for any other reason, including without limitation Executive's voluntary resignation, or if during the term of Executive's employment or at any time thereafter, Executive breaches any of the covenants contained in Section 2 hereof.
3.2 Upon termination of employment as set forth in Section 3.1 hereof, Executive shall be entitled to the following benefits:
Benefits Payable Upon Termination of Employment. 6.1 Except as specifically provided in this Agreement or required by applicable law, upon termination of the employment relationship between Company and Executive for any reason, including, but not limited to, the expiration of the Term, all duties and obligations of Company to Executive and all rights, remedies, compensation, Benefits, privileges, grants and options of Executive shall cease and terminate as of the Exit Date.
6.2 Executive shall be entitled to the compensation and benefits specified in Section 6.3 hereof if Executive’s employment by Company is terminated by Company or upon expiration of the Term, other than by reason of any of the events set forth in Sections 6.4 or 6.5 below.
6.3 Upon termination of employment as set forth in Section 6.2 of this Agreement, and on the condition of signing a separation agreement including a plenary release in a form acceptable to the Company, Executive shall be entitled to the following:
Benefits Payable Upon Termination of Employment. If a Participant's Service is terminated for any reason other than his retirement, death or total and permanent disability, his participation in the Plan will terminate upon the occurrence of a Break in Service. Each Participant shall be fully vested in his Account Balance. Upon incurring a one year Break in Service, the Participant may file a written claim for benefits with the Plan Administrator, on a form provided by the Plan Administrator for that purpose, requesting distribution of his Account Balance. Notwithstanding the preceding sentence, effective as of May 1, 1999, if a Participant has attained age 60 and has completed 20 or more Years of Service as of his termination of Employment, the Participant's Account Balance, upon request of the Participant, will be distributed as soon as administratively practicable following Participant's termination of Employment. His Account shall be valued as of the Annual Valuation Date immediately preceding the payment of such Account, provided that the Employer Stock allocated to his Account shall be valued based on the closing sale price of the Employer Stock as of the last trading date of the calendar month immediately preceding the month in which payment of such Account Balance commences.
Benefits Payable Upon Termination of Employment
