Consulting Benefits. The Company will provide Xx. Xxxxxxxx with the payments and benefits set forth below during the Consultation Period (the “Consulting Benefits”).
Consulting Benefits. During the Consulting Period, the Executive shall be paid an annual cash benefit equal to the vested portion of 75% of the average of the Executive's annual base salary over the last three full calendar years of his employment with the Company, with the vested portion determined in accordance with subsection (d) below. These consulting payments shall be made no less frequently than monthly, and shall be subject to any applicable tax withholding and tax reporting requirements. The Company shall also reimburse the Executive in accordance with the Company's policies and procedures for all proper expenses incurred by him in the performance of his duties and responsibilities during the Consulting Period. (d)
Consulting Benefits. During the Consulting Term, the Consultant shall receive no retirement, profit sharing, insurance or similar benefits which may at any time be payable to employees of the Company pursuant to any plan or policy of the Company relating to such benefits; provided, however, that the Company shall pay the full COBRA premium for family coverage of behalf of the Consultant directly to the insurer during the term of this Consulting Agreement.
Consulting Benefits. In consideration of your acceptance of this Transition and Consultancy Agreement and subject to your compliance in full with your obligations hereunder:
Consulting Benefits. Consultant shall receive no retirement, profit sharing, insurance or similar benefits which may at any time be payable to employees of the Company pursuant to any plan or policy of the Company relating to such benefits. Consultant shall, for all purposes, be deemed an independent contractor and not an employee of the Company.
Consulting Benefits. During the Consulting Period, the Executive shall be paid an annual cash benefit equal to $950,000. These consulting payments shall be made no less frequently than monthly, and shall be subject to any applicable tax withholding and tax reporting requirements. The Company shall reimburse the Executive in accordance with the Company's policies and procedures for all proper expenses incurred by him in the performance of his duties and responsibilities during the Consulting Period. All stock options granted to the Executive after the Effective Date shall, to the extent vested as of the end of the Employment Period, be exercisable during the Consulting Period, subject to expiration at the end of the specified term of each such option. During the Consulting Period and for the remainder of their respective lives, the Executive and his current spouse shall be entitled to continued coverage under the Company's then existing retiree medical plan (subject to the continued payment of the Executive's portion of the applicable cost).
Consulting Benefits. During the Consulting Period you shall be entitled to reimbursement for COBRA premiums in accordance with, and subject to, the terms and conditions of Section 7 below.
Consulting Benefits. During the Consulting Period, in addition to the Consulting Fees, Executive shall receive the following benefits ("Consulting Benefits"):
Consulting Benefits. Executive shall be entitled to the following benefits during the Consulting Term: Expense Allowance. Executive shall be reimbursed for business related expenses reasonably and necessarily incurred and advanced by Executive in performing his duties for the Company, subject to review by the Board or its designee and in accordance with Company policy as it exists from time to time.
Consulting Benefits
