Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one)
Severance Benefits Change in Control ------------------------------------- In the event that the Company exercises its rights under Section 4.1(a)(ii) (termination without Cause) or Executive exercises his rights under Section 4.1(b) (resignation for Good Reason), Executive will receive the following severance benefits:
a) Commencing on the date of termination or resignation (the "Termination Date"), the Company shall pay the Executive his then current base salary for a period of twelve months (the "Initial Period"), less any lawful withholding (such amount of twelve months' salary, in aggregate, the "Initial Severance Amount"). The Initial Severance Amount shall be paid in a lump sum payment within ten days of the Termination Date.
b) If the Executive has failed to commence alternative employment at any time prior to the end of the Initial Period, the Company will continue to pay the Executive at the rate of his base salary as of the Termination Date, less any lawful withholding, in monthly installments for a period (the "Extension Period") that will terminate on the earlier of: (i) the end of the sixth month after the end of the Initial Period, or (ii) the date that the Executive commences alternative employment. From time to time during the Extension Period, but in no event more frequently than monthly, the Executive will be available by telephone to update the Chief Executive Officer of the Company on the status of his efforts to obtain alternative employment, and he will notify the Company in writing within ten days after accepting alternative employment. Upon accepting new employment, the Executive will not unreasonably delay commencing work for his new employer in order to continue receiving payments during the Extension Period. For purposes of this Agreement, "alternative employment" is defined as any business relationship (excluding consulting relationships of less than one month) from which the Executive receives monthly W-
c) Any stock option(s) issued to Executive pursuant to the EGGHEAD, INC. 1993 STOCK OPTION PLAN (the "Plan") and the EGGHEAD, INC. NONQUALIFIED STOCK OPTION LETTER AGREEMENT AND PLAN SUMMARY that are outstanding and unexercised as of the Termination Date shall vest on a prorated basis as of immediately prior to the Executive's termination or resignation on the Termination Date (except as otherwise provided in the final sentence of this subsection (c)). For purposes of the preceding sentence, "prorated basis" shall mean, with respect to each such stock option, that it shall be deemed to be vested as to that percentage of shares originally subject to the option equal to the quotient of the number of weeks that the Executive was employed by the Company during that stock option's entire vesting period (rounded up to the nearest week) divided by the total number of weeks in the stock option's entire vesting period (e.
Employment Benefits In addition to the Salary payable to the Executive hereunder, the Executive shall be entitled to the following benefits:
Group Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be a paid or unpaid leave, contact the District’s Human Resources Department.
Layoff Benefits All rights to which a certificated employee was entitled at the time of his/her layoff including unused accumulated sick leave and credits toward leave eligibility will be restored to the certificated employee upon his/her return to active employment, and the certificated employee will be placed upon the proper step of the salary schedule for the certificated employee's current position according to the certificated employee's experience and education.
Compensation Benefits In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.