Benefits to Employee. Employee and the Company are parties to the Employment Agreement, dated as of December 14, 2004, and as amended through July 31, 2008 (the “Employment Agreement”). The Employment Agreement (including the amendments thereto) is attached hereto as Exhibit A. Unless defined in this Agreement, capitalized terms used in this Agreement shall have the meanings ascribed to them in the Employment Agreement. The Parties hereby agree that Employee’s employment with the Company in any capacity shall terminate on December 31, 2008, (“Termination Date”) as a Discharge without Cause under Section 5.1(d) of the Employment Agreement.
Benefits to Employee. During the Term of this Agreement, if Employee’s employment with Tier terminates as a result of either (1) a Termination Without Cause during the Security Period; or (2) a Resignation for Good Reason that is based on a Position Change occurring during the Security Period, Employee shall be entitled to the continuation of his or her annual base salary, less standard deductions and withholdings, for a period of twelve (12) months. Annual base salary is defined as the salary in effect during the last regularly scheduled payroll period immediately preceding the Termination Without Cause or Resignation for Good Reason.
Benefits to Employee. The benefits to Employee under this Section 1 are provided under the Allergan, Inc. Severance Pay Plan.
Benefits to Employee. 3.1 Company shall pay to Employee severance in the amount of $450,000.00 ("Severance"), payable, on the condition that Employee is in full compliance with the confidentiality and non-disparagement provisions of this Agreement, one-half on the date of separation, one-quarter 90 days after the date of separation, and one-quarter on the first anniversary of the date of separation.. The Severance shall be subject to withholding, deductions, assessments and taxes, if applicable.
Benefits to Employee. In consideration of the promises and releases set forth in this Agreement, the Company has agreed to provide certain benefits to Employee, as follows:
Benefits to Employee. Commencing on the Termination Date, Employee shall be entitled to the following benefits:
Benefits to Employee. In consideration for the promises of EMPLOYEE set forth herein, the COMPANY agrees to:
Benefits to Employee. 2.1 Company shall pay to Employee the following amounts. The principal amount is economically similar to the benefits to which Employee would be entitled to receive after a voluntary termination under the Original Agreement. These amounts shall be paid to Employee under the following schedule, less withholding, assessments and authorized deductions: Payment Date Principal Interest Payment ------------ --------- -------- ------- Amount ------ Within 15 days after the close of the Merger 125,000 0 125,000 October 1, 1999 29,300 14,920 44,220 January 1, 2000 29,300 13,750 43,050 April 1, 2000 29,300 12,580 41,880 July 1, 2000 29,300 11,400 40,700 October 1, 2000 29,300 10,230 39,530 January 1, 2001 29,300 9,060 38,360 April 1, 2001 29,300 7,890 37,190 July 1, 2001 29,300 6,720 36,020 October 1, 2001 29,300 5,540 36,020 January 1, 2002 29,300 4,370 33,670 July 31, 2002 80,000 6,430 86,430 TOTALS 498.000 102,890 600,890 If Employee's employment is Terminated, then Employee shall be paid the remaining unpaid principal amount and interest prorated to the date of termination within 30 days of Employee's Termination. If Employee dies prior to July 31, 2002, then Employee's estate shall be paid the remaining unpaid principal amount and interest prorated to the date of death within 30 days of Employee's death. The above payments will not be recognized as covered pay under any employee benefit plan sponsored by the Company except for the Deferred Compensation Program.
Benefits to Employee
