Employee Severance Payments Sample Clauses

Employee Severance Payments. Except as otherwise set forth in Article 7.03(a)(iii), Owner shall, without limiting Owner's obligation as employer, be solely responsible and shall pay for all severance or other termination benefits due any employee of Owner or Key Casino Personnel whose services are terminated.
Sample 1
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Employee Severance Payments. Subject to Section 5.6.1(b) hereof, any and all amounts claimed against UOP or the Company or any of its subsidiaries by, or on behalf of, any Employee (as such term is defined in Subsection 3.11.1 herein), relating to, based upon or arising from or in connection with the contracts of employment or retention listed on Schedule 1.4.3, such contracts not having been entered in the ordinary course.
Sample 1
Employee Severance Payments. Buyer agrees that, following the Closing Date, Buyer and the Corporation shall honor the terms and conditions of the severance obligations, owing from the Corporation to those certain employees as set forth on Schedule 10.2 when, as and if such obligations arise following the Closing Date (and provided that Sellers' Representative and/or the Corporation shall have provided to Buyer prior to the Closing all details regarding such obligations on Schedule 4.22(m)), which results from the Corporation's termination of such employees other than "For Cause" (as defined in the severance arrangements attached to Schedule 4.22(m)); and Sellers shall indemnify the Buyer Indemnified Persons against the payment of any other such obligation which the Corporation is required to pay under such severance arrangements.
Sample 1
Employee Severance Payments. With respect to any employee of DSLT or any of its Subsidiaries at the time of the Closing who is terminated without cause within one year from the date of the Closing and who is not otherwise a party to a CIC Agreement, a collective bargaining agreement, or another written employment agreement, Parent will cause DSLT to comply with the severance compensation policy summarized in Schedule 8.02. DSLT shall not be required and has no obligation to make or cause to be made any payments pursuant to this Section 8.02 or pursuant to any severance plan or policy to any employee who is a party to a CIC Agreement, a collective bargaining agreement, or another written employment agreement. The employees of DSLT and its Subsidiaries on the Closing Date shall be deemed to be third-party beneficiaries of this Agreement with respect to the provisions of this Section 8.02.
Sample 1

Related to Employee Severance Payments

  • Severance Payments 6.1 If the Executive's employment is terminated following a Change in Control and during the Term, other than (A) by the Company for Cause, (B) by reason of death or Disability, or (C) by the Executive without Good Reason, then the Company shall pay the Executive the amounts, and provide the Executive the benefits, described in this Section 6.1 ("Severance Payments") and Section 6.2, in addition to any payments and benefits to which the Executive is entitled under Section 5 hereof; provided, however, that the Executive shall not be entitled to the Severance Payments unless and until the Executive (or, in the event of the Executive's death, the executor, personal representative or administrator of the Executive's estate) has signed a written waiver and release substantially in the form set forth on Exhibit A hereto. For purposes of this Agreement, the Executive's employment shall be deemed to have been terminated following a Change in Control by the Company without Cause or by the Executive with Good Reason, if (i) during the Term the Executive's employment is terminated by the Company without Cause following a Potential Change in Control but prior to a Change in Control (whether or not a Change in Control ever occurs) and such termination was at the request or direction of a Person who has entered into an agreement with the Company the consummation of which would constitute a Change in Control, (ii) during the Term the Executive terminates his employment for Good Reason following a Potential Change in Control but prior to a Change in Control (whether or not a Change in Control ever occurs) and the circumstance or event which constitutes Good Reason occurs at the request or direction of such Person or (iii) during the Term the Executive's employment is terminated by the Company without Cause or by the Executive for Good Reason and such termination or the circumstance or event which constitutes Good Reason is otherwise in connection with or in anticipation of a Change in Control (whether or not a Change in Control ever occurs). An Executive will not be considered to have been terminated by reason of the divestiture of a facility, sale or other disposition of a business or business unit, or the outsourcing of a business activity with which the Executive is affiliated, notwithstanding the fact that such divestiture, sale or outsourcing takes place within two years following a Change in Control, if the Executive is offered comparable employment by the successor company and such successor company agrees to assume the Company's obligations to the Executive under this Agreement.

  • Severance Payments and Benefits For purposes of this Agreement, the term "Severance Payments and Benefits" shall mean:

  • Severance Payment Executive will be paid continuing payments of severance pay at a rate equal to Executive’s base salary rate, as then in effect, for twelve (12) months from the date of such termination of employment, to be paid periodically in accordance with the Company’s normal payroll policies.

  • Severance Payments; Salary and Benefits The Company agrees to provide Executive with the severance payments and benefits described in Section 4(b) [and Section 4(c)] of the Employment Agreement, payable at the times set forth in, and subject to the terms and conditions of, the Employment Agreement. In addition, to the extent not already paid, and subject to the terms and conditions of the Employment Agreement, the Company shall pay or provide to Executive all other payments or benefits described in Section 3(c) of the Employment Agreement, subject to and in accordance with the terms thereof.

  • Severance Pay In the event that your employment is terminated by the Company, except for “Cause” as defined below, you will be eligible to receive the following:

  • Separation Payments and Benefits Without admission of any liability, fact or claim, the Company hereby agrees, subject to Executive’s timely execution and non-revocation hereof and Executive’s compliance with Executive’s obligations pursuant to this Agreement and the Surviving Provisions, to provide Executive the severance payments and benefits set forth below:

  • Severance Pay and Benefits Upon Termination by the Company without Cause or by the Executive for

  • Lump Sum Severance Payment Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the Release required by Paragraph 4(g) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.

  • Bonus Severance A single, lump sum payment equal to 100% of the Executive’s target annual bonus as in effect for the fiscal year in which the Qualifying CIC Termination occurs, less applicable withholdings.

  • Exclusive Severance Benefits The Severance Benefits payable under Section 6.4(a) or the Change of Control Benefits payable under Section 6.4(b), if they become applicable under the terms of this Agreement, will be in lieu of any other severance or similar benefits that would otherwise be payable under any other agreement, plan, program or policy of the Company.

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