Executive Severance Benefits Sample Clauses

Executive Severance Benefits. Executive Severance Benefits" shall mean the benefits described in Section 3(B) hereof.
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Executive Severance Benefits. Subject to Sections 3(C), 3(D), 3(E) and 4(D)(ii) hereof, in the event of Executive's Involuntary Termination or Good Reason Termination, Company shall pay for outplacement services for Executive of the type customarily provided by Company to senior execuitves at the time of Executive's Involuntary Termination or Good Reason Termination and shall pay Executive an amount equal to the greater of:
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Executive Severance Benefits. Subject to Sections 3(C), 3(D), 3(E) and 4(D)(ii) hereof, in the event of Executive's Involuntary Termination or Good Reason Termination, Company shall (a) pay for outplacement services for Executive of the type customarily provided by Company to senior executives at the time of Executive's Involuntary Termination or Good Reason Termination; (b) during the thirty (30) months starting on Date of Termination, continue to provide executive life insurance that is equivalent to the coverage that Company provides on behalf of similarly situated executives employed by Company; and (c) shall pay executive an amount equal to the greater of: Revised March 5, 2001 7 8 (i) two (2) times Executive's Annual Compensation; or
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Executive Severance Benefits. Upon the Executive’s execution and non-revocation of this Supplemental Release Agreement, the Company shall provide the Executive with the executive severance benefits set forth in Section 3 of the Severance Agreement and General Release signed by the Executive on .
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Executive Severance Benefits. Executive shall participate in the Company’s Executive Severance Plan, in accordance with the applicable terms of such plan; provided, that, for purposes of the Executive Severance Plan, upon a termination of employment by Executive for Good Reason (as defined in Section 5(d) hereof), Executive shall be entitled to receive the same separation benefits (1.0 times the sum of Executive’s Base Salary plus Target Bonus) that Executive would have been eligible to receive under the Executive Severance Plan upon a termination of employment by the Company without Cause.
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Executive Severance Benefits. In consideration for and contingent upon his execution and non-revocation of this Agreement, and the Supplemental Release Agreement attached hereto as Addendum I (which shall be executed no earlier than the Termination Date), the Company agrees to provide the Executive with the following benefits:
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Executive Severance Benefits. Executive shall participate in the Company’s Amended & Restated Executive Severance Plan, adopted March 13, 2024 (the “2024 Executive Severance Plan”), pursuant to the terms of such plan applicable to the Company’s Chief Executive Officer.
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Executive Severance Benefits. If (i) you timely sign this Agreement, allow it to become effective, and, on or after the Separation Date, timely sign and return the Waiver and Release of Claims attached hereto as Exhibit C (the “Release”), and allow it to become effective, (collectively, the “Severance Preconditions”), and (ii) the Company does not terminate your employment for Cause, then as of the Separation Date, whenever it occurs, you shall be eligible to receive the following as your sole severance benefits (the “Executive Severance Benefits”), notwithstanding the fact that the HP Inc. Severance and Long-Term Incentive Change in Control Plan for Executive Officers, as amended and restated effective February 28, 2020 (the “Executive Severance Plan”) shall no longer apply to you since this Agreement provides certain severance benefits and terms which supersede and replace the Executive Severance Plan with respect to you. For sake of clarity, the Executive Severance Benefits shall be subject to your execution of the Release attached hereto on or following your Separation Date and the effectiveness thereof. For further clarity, while certain terms of the Executive Severance Plan are incorporated by reference in this Agreement for sake of brevity, you acknowledge and agree that the Executive Severance Plan itself no longer applies to you.
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Executive Severance Benefits. You will continue to participate in the Amended and Restated NCR Change in Control Severance Plan, as amended, with a “Tier I” benefit level (the “Change in Control Severance Plan”) in accordance with its applicable terms; provided, however, that for purposes of the Change in Control Severance Plan, upon (x) a termination of your employment by NCR without Cause (as defined the Employment Agreement) or (y) a termination of your employment by you for Good Reason (as defined in the Change in Control Severance Plan, except that references in such definition to the occurrence of a “Change in Control” shall be replaced with the effective date of a Qualified Transaction (as defined in the 2023 Performance-Based Restricted Stock Unit Award Agreements listed in Section 2 of Exhibit A hereto)) in either case (i) within the two (2) year period following a Qualified Transaction or (ii) within the ninety (90) day period before a Qualified Transaction, you shall be entitled to receive the separation benefits set forth in the Change in Control Severance Plan at a “Tier I” benefit level. For the avoidance of doubt, in the event of a termination of your employment by NCR without Cause or resignation for Good Reason during the ninety (90) day period before a Qualified Transaction, any condition of your employment on the date of the Qualified Transaction shall be deemed satisfied; provided that any allocation of authority, duties or responsibilities by the NCR Board of Directors (the “NCR Board”) relating solely to preparing NCR to accomplish a Qualified Transaction shall not constitute Good Reason.
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Related to Executive Severance Benefits

  • 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.

  • Severance Benefits To the extent that Employee shall be entitled to receive Severance Benefits pursuant to Section 4(d) or 4(e) hereof, Company and Employee agree that the following shall apply: (i) "Severance Benefits" shall mean: (A) a continuation of Employee's then effective salary as payable pursuant to Section 3(a) hereof during the Severance Period (as defined below); (B) payment of any bonus payable to Employee pursuant to Section 3(c) hereof, calculated based on the full Company bonus payable thereunder (subject to attainment by Company of any objective financial or performance standards applicable to Company) and prorated for any period during the Severance Period that is less than the full twelve (12) month period in which such bonus would be earned; (C) immediate vesting and payment of any Option Payments; and (D) continuation during the Severance Period of any medical/dental care coverage (or the reasonable equivalent thereof) which Employee is receiving as of the date of termination of the Period of Employment, provided that such insurance coverage shall terminate prior to the expiration of the Severance Period as of the first date that Employee is covered under another employer's health benefit program which provides substantially the same level of benefits without exclusion for pre-existing medical conditions. Such coverage shall be in lieu of any other continued health care coverage to which Employee or his dependents would otherwise be entitled in accordance with the requirements of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ("COBRA"), by reason of Employee's termination of employment. (ii) "Severance Period" shall mean a period of twenty-four (24) months following the termination of the Period of Employment pursuant to Section 4(d) or 4(e) hereof. (iii) Company shall be entitled to a credit for any amounts paid pursuant to Part One, Paragraph 1 of the Change of Control Agreement for any amounts payable pursuant to Paragraph (i)(A) and (i)(B) above as part of any Severance Benefits payable hereunder. (iv) Except as provided in Section 6 below, the Severance Benefits shall be received by Employee in lieu of any other right Employee may have under applicable law, Company or Parent policies or plans or otherwise with respect to any payments or compensation in connection with the termination of Employee's employment with Company. (v) Employee agrees that payment of the Severance Benefits may, in the discretion of the Company, be subject to the prior execution by the Employee of a release of claims in a form provided by the Company prior to any such payment and that payment of the Severance Benefits shall be consideration for such release. (g)

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

  • Cash Severance Benefits Severance equal to the amount set forth in the Participant’s Participation Agreement and payable in cash in a lump sum in accordance with the terms and conditions of this Plan, including without limitation Section 7 hereof.

  • 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:

  • Change in Control Severance Benefits If there is a Change in Control, and within one (1) year of such Change in Control, the Executive’s employment is terminated under the circumstances described in Sections 4(a) through 4(f) above, the Executive shall be entitled to the following: (I) if such termination is a termination by the Company without Cause pursuant to Section 4(a) or the Executive resigns for Good Reason pursuant to Section 4(b), the Company shall pay the Executive the Accrued Obligations and, in addition, subject to the provisions of Section 19, (A) an amount equal to twenty-four (24) months of the Executive’s Base Salary at the rate in effect on the date of termination or resignation, payable in a lump sum within sixty (60) calendar days of the date of termination or resignation; and (B) provided the Executive timely elects continuation coverage under COBRA, the Company shall also pay, on the Executive’s behalf, the portion of monthly premiums for the Executive’s group health insurance, including coverage for the Executive’s dependents, that the Company paid immediately prior to the date of termination or resignation, during the eighteen (18) month period following the date of termination or resignation, subject to the Executive’s continued eligibility for COBRA coverage. The Company will pay for such COBRA coverage for eligible dependents only for those dependents who were enrolled immediately prior to the date of termination or resignation. The Executive will continue to be required to pay that portion of the premium for the Executive’s health coverage, including coverage for the Executive’s eligible dependents, that the Executive was required to pay as an active employee immediately prior to the date of termination or resignation. Notwithstanding the foregoing, in the event that under applicable guidance the reimbursement of COBRA premiums causes the Company’s group health plan to violate any applicable nondiscrimination rule, the parties agree to negotiate in good faith a mutually agreeable alternative arrangement; and (II) if such termination is a termination or resignation under the circumstances described in Sections 4(c), 4(d), 4(e) or 4(f), the Executive shall be entitled to the compensation and benefits for which the Executive is eligible under such sections.

  • Other Severance Benefits Executive hereby agrees that in consideration for the payments to be received under Section 7(b) of this Agreement, Executive waives any and all rights to any payments or benefits under any severance plans or arrangements of the Company or their respective affiliates that specifically provide for severance payments, other than the Change in Control Severance Agreement between the Company and Executive (the “Change in Control Severance Agreement”); provided that any payments payable to Executive under Section 7(b) hereof shall be offset by any payments payable under the Change in Control Severance Agreement.

  • Termination of Employment and Severance Benefits The Executive’s employment hereunder shall terminate under the following circumstances:

  • Additional Severance Benefits In the event that it is determined that any payment or benefit provided by the Company to or for the benefit of Executive, either under this Agreement or otherwise, will be subject to the excise tax imposed by section 4999 of the Internal Revenue Code or any successor provision ("section 4999"), the Company will, prior to the date on which any amount of the excise tax must be paid or withheld, make an additional lump-sum payment (the "gross-up payment") to Executive. The gross-up payment will be sufficient, after giving effect to all federal, state and other taxes and charges with respect to the gross-up payment, to make Executive whole for all taxes (including withholding taxes) imposed under section 4999. Determinations under this Section 2 will be made by the Company's then current firm of independent auditors (the "Firm"). The determinations of the Firm will be binding upon the Company and Executive except as the determinations are established in resolution (including by settlement) of a controversy with the Internal Revenue Service to have been incorrect. All fees and expenses of the Firm will be paid by the Company. If the Internal Revenue Service asserts a claim that, if successful, would require the Company to make a gross-up payment or an additional gross-up payment, the Company and Executive will cooperate fully in resolving the controversy with the Internal Revenue Service. The Company will make or advance such gross-up payments as are necessary to prevent Executive from having to bear the cost of payments made to the Internal Revenue Service in the course of, or as a result of, the controversy. The Firm will determine the amount of such gross-up payments or advances and will determine after resolution of the controversy whether any advances must be returned by Executive to the Company. The Company will bear all expenses of the controversy and will gross Executive up for any additional taxes that may be imposed upon Executive as a result of its payment of such expenses.

  • Executive Benefits The Executive shall be entitled to participate in all benefit programs of the Company currently existing or hereafter made available to executives and/or other salaried employees, including, but not limited to, pension and other retirement plans, group life insurance, hospitalization, surgical and major medical coverage, sick leave, disability and salary continuation, vacation and holidays, cellular telephone and all related costs and expenses, long-term disability, and other fringe benefits.

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