Enhanced Separation Benefits Sample Clauses

Enhanced Separation Benefits. If you sign and return this Agreement and Release and you do not rescind or breach this Agreement and Release, UHS will provide you with the following additional payments and benefits, which exceed the nature and scope of those to which you would otherwise be entitled and which you acknowledge and agree constitute adequate consideration for your promises herein. The process for accepting and rescinding the terms of this Agreement and Release is set forth in sections 4 and 5 below.
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Enhanced Separation Benefits. These enhanced separation benefits are benefits to which you are not entitled pursuant to any agreement, or under any policy or practice of the Company. You acknowledge that the Company has no obligation to provide you with these benefits and that these benefits constitute a valuable consideration justifying your agreement to provide the release set forth in Section 5 of this letter. Restricted Stock — The Company issued 14,400 restricted shares of Common Stock of the Company to you on January 26, 2005. As an additional enhanced separation benefit, the Company agrees that two-thirds of these restricted shares (9,600) will vest as of the Effective Date, provided that you continue employment with the Company until the Effective Date, and will be distributed to you, net of all required taxes, as soon as possible, not later than April 30, 2006. In addition, the Company issued 20,000 restricted shares of Common Stock of the Company to you on October 23, 2002. These shares are scheduled to vest on June 30, 2006. As an additional enhanced separation benefit, the Company agrees all of these restricted shares (20,000) will vest as of the Effective Date, provided that you continue employment with the Company until the Effective Date, and will be distributed to you, net of all required taxes, as soon as possible, not later than April 30, 2006 .
Sample 1
Enhanced Separation Benefits. Restricted Stock You have been awarded 5,984 shares of restricted stock under the 2002 D&O Plan that are scheduled to vest after the Effective Date. As an enhanced separation benefit, the Company agrees that a total of 5,984 restricted shares that would otherwise vest after the Effective Date, will vest as of the Effective Date. Unless you elect otherwise by remitting to the Company cash in an amount necessary to satisfy the Company’s tax withholding obligation arising with respect to the vesting of your restricted stock, the Company shall satisfy its tax withholding obligation by withholding shares with a fair market value equal to the withholding obligation. Grant Shares Date Granted Vested Unvested 1/24/2007 5,078 3,385 1,693 1/23/2008 6,436 2,145 4,291 11,514 5,530 5,984
Sample 1
Enhanced Separation Benefits. In consideration for Employee’s timely signing and delivering the agreement to ratify the release of claims on or within five (5) days following the Actual Separation Date as described in Section 5 herein (the “Ratification Agreement”) and performing services as contemplated in Section 1(b) herein through the Anticipated Separation Date (other than as a result of physical or mental infirmity), unless his employment is terminated pursuant to a Good Leaver Termination or employment terminates by mutual agreement of the Company and Employee, and subject to Sections 13 and 14 herein, the Company agrees to pay to Employee the following enhanced separation benefits described in this Section 1(d) herein so long as Employee signs and does not revoke this Agreement during the Ratification Agreement revocation period described in the Ratification Agreement: i.
Sample 1
Enhanced Separation Benefits. These enhanced separation benefits are benefits to which you are not entitled pursuant to any agreement, or under any policy or practice of the Company. You acknowledge that the Company has no obligation to provide you with these benefits and that these benefits constitute a valuable consideration justifying your agreement to provide the release set forth in Section 5 of this letter.
Sample 1
Enhanced Separation Benefits. The Executive shall be entitled to receive from the Company the Enhanced Separation Benefits described in Section 2.5 herein solely in the event that a Spinoff has not occurred by the Outside Date of such contemplated Spinoff and if the Executive incurs a Qualifying Termination (as set forth in Section 2.2); provided, however, that the Executive’s entitlement to Enhanced Separation Benefits (other than under Section 2.5(a)) is conditioned upon (i) the Executive executing and delivering to the Company a Release within twenty-one (21) days (or forty-five (45) days if such longer period is required under applicable law), and (ii) the Executive not revoking such Release. The Executive shall not be entitled to receive Enhanced Separation Benefits if the Executive’s employment with the Company terminates (i) at any time before or after the Protected Period corresponding to the Outside Date (regardless of the reason), (ii) during the Protected Period but other than in a Qualifying Termination, or (iii) after a Spinoff or a Sale.
Sample 1

Related to Enhanced Separation Benefits

  • Separation Benefits If this Agreement is terminated either by the Company without Cause in accordance with Section 6(c) (including the Company’s non-renewal of this Agreement) or by Employee resigning his employment for Good Reason in accordance with Section 6(d), the Company shall have no further obligation to Employee under this Agreement, except the Company shall provide the Accrued Obligations to Employee in accordance with Section 7(a) plus the following payments and benefits (collectively, the “Separation Benefits”) to Employee: (i) an amount equal to one times the sum of the Base Salary in effect immediately before the Termination Date plus the Annual Bonus received by Employee for the fiscal year preceding the Termination Date (or if Employee was employed for less than one full fiscal year prior to the Termination Date, the Annual Bonus for purposes of this Section 7 shall be the Annual Bonus payable during the current fiscal year at the target amount provided above) (together, the “Separation Pay”); and (ii) during the six-month period commencing on the Termination Date that Employee is eligible to elect and elects to continue coverage for himself and his eligible dependents under the Company’s group heath insurance plan pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), or similar state law, the Company shall reimburse Employee on a monthly basis for the difference between the amount Employee pays to effect and continue such coverage under COBRA and the employee contribution amount that active employees of the Company pay for the same or similar coverage; provided, however, that Employee shall notify the Company in writing within five days after he becomes eligible after the Termination Date for group health insurance coverage, if any, through subsequent employment or otherwise and the Company shall have no further reimbursement obligation after Employee becomes eligible for group health insurance coverage due to subsequent employment or otherwise. The Separation Pay shall be paid to Employee in a lump sum within 60 days of the Termination Date; provided, however, that no Separation Pay shall be paid to Employee unless the Company receives, on or within 55 days after the Termination Date, an executed and fully effective copy of the Release (as defined below). Any COBRA reimbursements due under this Section shall be made by the last day of the month following the month in which the applicable premiums were paid by Employee. For the avoidance of doubt, Employee shall not be entitled to the Separation Benefits if this Agreement is terminated (i) due to Employee’s death; (ii) by the Company due to Employee’s Inability to Perform; (iii) by the Company for Cause; (iv) by Employee without Good Reason; or (v) by non-renewal by Employee in accordance with Sections 4(b) and 6(f).

  • 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.

  • 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.

  • Termination Benefits (a) If Executive’s employment is voluntarily (in accordance with Section 2(a) of this Agreement) or involuntarily terminated within two (2) years of a Change in Control, Executive shall receive:

  • Relocation Benefits If the Executive moves his residence in order to pursue other business or employment opportunities during the Continuation Period and requests in writing that the Company provide relocation services, he will be reimbursed for any expenses incurred in that initial relocation (including taxes payable on the reimbursement) which are not reimbursed by another employer. Benefits under this provision will include assistance in selling the Executive's home and all other assistance and benefits which were customarily provided by the Company to transferred executives prior to the Change in Control.

  • Vacation; Benefits During the Term, the Executive shall be eligible for 20 vacation days annually, which shall be accrued and used in accordance with the applicable policies of the Company. During the Term, the Executive shall be eligible to participate in such medical, dental and life insurance, retirement and other plans as the Company may have or establish from time to time on terms and conditions applicable to other senior executives of the Company generally. The foregoing, however, shall not be construed to require the Company to establish any such plans or to prevent the modification or termination of such plans once established.

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