Flexible Perquisite Program Sample Clauses

Flexible Perquisite Program. During the Compensation Period, the Executive shall continue to receive benefits under the Program; provided, further, that in the event of an Involuntary Termination during the two (2) year period beginning on a Change of Control, ownership of the automobile assigned to the Executive immediately prior to such Termination shall be transferred to the Executive within fifteen (15) business days after such Termination. At the time of such transfer, the Company shall pay to the Executive such amount in cash that, after payment of all applicable federal, state and local taxes thereon, computed at the maximum marginal rates, is equal to all such taxes, so computed, imposed in connection with such transfer.
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Flexible Perquisite Program. You will continue to be eligible for the Company's flexible perquisite program through the end of the calendar quarter commencing after your Last Day of Active Employment. Your final payment of $12,500 will be made in October 2003. Other Officer Benefits and Perquisites Your coverage under the Supplemental Long Term Disability and the Survivor Benefit programs will end as of your Last Day of Active Employment.
Sample 1
Flexible Perquisite Program. The dollar value of your right to the Company's flexible perquisite program through the end of the calendar year is $37,500 based on three remaining quarters of 2002. In lieu of receiving a quarterly flexible perquisite allowance of $12,500 for the second, third and fourth quarters of 2002, the dollar value of this benefit was incorporated into the Final Salary Continuation Amount (see Exhibit A). Other Officer Benefits and Perquisites Your coverage under the Supplemental Long Term Disability and the Survivor Benefit programs will end as of your last day of active employment, February 28, 2002. Executive Outplacement Executive outplacement assistance is available to you for up to 12 months, ending February 28, 2003. The Company has several national agreements with premier outplacement firms. Executive outplacement assistance will be coordinated through your Human Resources office or by contacting Xxx Xxxx, Human Resources Corporate Functions, (000) 000-0000. Consideration for the Release The severance pay, continuation of group insurance plan participation during your Salary Continuation Period, executive outplacement assistance and other benefits specified in the Agreement and Release to which you would not otherwise be entitled (the "Consideration") are all things of value that will be available to you only in return for your signed Agreement and Release in the form provided to you. If you choose not to sign this Agreement and Release in the form provided to you, you will still receive the vacation pay described herein. Your group insurance plan participation will generally end no later than the month in which your last day of active employment falls. Other payments and benefits will generally cease on your last day of active employment.
Sample 1
Flexible Perquisite Program. Participation in this program ends with the payment of Executive's Fourth Quarter, 2001 payment in the amount of $12,500. The payment will be made in October and is subject to applicable taxes and withholdings (i.e., Belgian non-resident tax rates as currently utilized). Income Tax Equalization for Company-Related Earnings Abroad; Indemnification ---------------------------------------------------------------------------- Following termination of Executive's employment, Executive remains eligible for tax equalization of income taxes relating to Company-related employment earnings while in the U.S. However, in order to be entitled to post-termination tax equalization payments, Executive must settle with the Company the full amount of any existing tax loans or advances, tax equalization calculations (TEQ indicates Executive will owe the Company) and foreign tax credit carryovers. Deloitte & Touche will continue (the "Tax Preparer") to prepare Executive's U.S., applicable state and non-U.S. income tax returns and will calculate Executive's tax equalization for the year the Executive's foreign assignment ends and then one additional calendar year. Any income tax reimbursement due Executive will first be applied to settle any outstanding tax loans or advances previously made to Executive; any balance will be paid to Executive at the conclusion of the tax equalization settlement process. Likewise, any tax reimbursement due the Company will be added to any outstanding tax loans or advances previously made to Executive, which Executive shall repay at the conclusion of the tax equalization settlement process. Final settlement of 2000 tax equalization issues is expected within 60 days from the date the tax equalization settlement is prepared by the Tax Preparer. Final settlement of 2001 tax equalization issues is also expected within 60 days from the date the tax equalization settlement is prepared by the Tax Preparer. Executive agrees to cooperate fully with the Tax Preparer in completing the Tax Preparer's tax organizer forms and filing all income tax returns on a timely basis. Executive is personally responsible for the payment of any income taxes, penalties and interest determined to be owing as a result of the tax equalization settlement process and Executive agrees to make these payments when due. Executive shall pay to the Company any amounts determined in the Tax Preparer's final tax equalization settlement report to be owing to the Company within 30 calenda...
Sample 1
Flexible Perquisite Program. While the Employee is employed by the Company, the Employee shall be entitled to participate in the Dura Automotive Systems, Inc. Executive Flexible Perquisite Program, pursuant to the written terms of that Program; provided, however, that the annual allowance as specified in that Program shall be a gross amount of thirty-three thousand dollars and no cents ($33,000.00), and the Employee's maximum economic entitlement under that Program shall be reduced and pro-rated to reflect the Employee's actual start date with the Company as being the Effective Date rather than the date on which that Program commenced.
Sample 1
Flexible Perquisite Program. You will continue to be eligible for the Company's flexible perquisite program through the end of the calendar quarter commencing after your Last Day of Active Employment. Your last payment will be in April 2004. Executive Auto Insurance Your coverage under the Honeywell Executive Auto Insurance program will end as of your Last Day of Active Employment. EXHIBIT B HONEYWELL INTERNATIONAL INC. Agreement Relating to Honeywell's Trade Secrets, Proprietary and Confidential Information In consideration of the receipt of my Severance Pay, I understand and agree that:
Sample 1

Related to Flexible Perquisite Program

  • Long-term Incentive Compensation Programs During the Employment Period, the Executive shall participate in all long-term incentive compensation programs (including, without limitation, programs providing for the grant of stock options and other equity-based awards) for key executives at a level that is commensurate with the Executive's participation in such plans immediately prior to the Effective Date, or, if more favorable to the Executive, at the level made available to the Executive or other similarly situated officers at any time thereafter.

  • Incentive Compensation Plans The occurrence of any of the following: (i) a material reduction by the Corporation in the Executive’s (A) annual incentive compensation target or maximum opportunity, or (B) long-term incentive compensation target or maximum opportunity (measured based on grant date fair value of any equity-based awards), in each case, as in effect immediately prior to the Change in Control, or (ii) a change in the performance conditions, vesting, or other material terms and conditions applicable to annual and/or long-term incentive compensation awards granted to Executive after the Change in Control which would have the effect of materially reducing the Executive’s aggregate potential incentive compensation from the level in effect immediately prior to the Change in Control; or

  • Benefits Plans During the Employment Period, You will be eligible to participate in all benefit plans in effect for executives and employees of the Company, subject to the terms and conditions of such plans.

  • Retirement Plans In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, JHSS shall provide the following administrative services:

  • Incentive Programs During the Term of Employment, the ------------------ Executive shall be entitled to participate in any annual and long-term incentive programs adopted by the Company and which cover employees in positions comparable to that of the Executive.

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

  • Executive Compensation Plans Executive shall be entitled during the Term to participate, without discrimination or duplication, in executive compensation plans and programs intended for general participation by senior executives of the Bank, as presently in effect or as they may be modified or added to by the Bank from time to time, subject to the eligibility and other requirements of such plans and programs, including without limitation any stock option plans, plans under which restricted stock/restricted stock units, performance-based restricted stock/restricted stock units or performance-accelerated restricted stock/restricted stock units (collectively, “stock plans”) may be awarded, other annual and long-term cash and/or equity incentive plans, and deferred compensation plans. The Bank makes no commitment under this Section 5(a) to provide participation opportunities to Executive in all plans and programs or at levels equal to (or otherwise comparable to) the participation opportunity of any other executive.

  • 401(k) Plan The Company presently offers its employees a 401k plan with a Company match to be determined annually by the Compensation Committee of the Board of Directors. You may elect to contribute pre-tax deferrals through payroll deduction pursuant to the terms of the 401k plan.

  • Compensation Plans Following any termination of the Executive's employment, the Company shall pay the Executive all unpaid amounts, if any, to which the Executive is entitled as of the Date of Termination under any compensation plan or program of the Company, at the time such payments are due.

  • Severance Plans Trident shall cause Fountain to establish the Fountain Severance Plans, each effective as of the Fountain Distribution Date and each in substantially the same form(s) as the Trident Severance Plans as provided by Trident in the online data room in Folders 8.2.2.3, 8.2.2.4 and 8.2.2.5 as of the date of this Agreement (provided that Trident will, prior to establishing such Fountain Severance Plans, amend Section 3.02(b)(x) of the Trident Severance Plan in Folder 8.2.2.5 to be identical to Section 3.02(b)(x) of the Trident Severance Plan in Folder 8.2.2.3 and such amended plan shall serve as the form for the corresponding Fountain Severance Plan) and, correspondingly, Fountain Employees and Former Fountain Employees who are currently eligible to receive or are receiving severance payments shall cease participating in the Trident Severance Plans on the Fountain Distribution Date. After the Fountain Distribution Date: (i) Fountain shall be solely responsible for (x) the payment of all Liabilities under the Trident Severance Plans (as amended pursuant to the proviso above) or Fountain Severance Plans relating to Fountain Employees and Former Fountain Employees, (y) the management and administration of the Fountain Severance Plans and (z) the payment of all employer-related costs in establishing and maintaining the Fountain Severance Plans, and (ii) Trident shall retain sole responsibility for (w) all Liabilities under the Trident Severance Plans or Fountain Severance Plans relating to Trident Employees and Former Trident Employees, (x) all Liabilities for severance or termination pay or benefits under individual agreements entered into with any Trident Employee or Former Trident Employee prior to the Fountain Distribution Date, (y) the management and administration of the Trident Severance Plans and (z) the payment of all employer-related costs in maintaining the Trident Severance Plans. In no event shall an employee or former employee receive a duplication of severance benefits. Except as provided below, Fountain shall be solely responsible for the adjudication of any claims filed by a Fountain Employee or Former Fountain Employee before, on or after the Fountain Distribution Date under a Trident Severance Plan. Notwithstanding the previous sentence, Trident shall be solely responsible for the adjudication of any claim filed by a Fountain Employee or Former Fountain Employee under a Trident Severance Plan before the Fountain Distribution Date that (A) has not been finally adjudicated by Trident on the day immediately preceding the Fountain Distribution Date; and (B) under the applicable claims procedure, Trident’s plan administrator or other authorized person or committee will have a less than sixty (60) day period after the Fountain Distribution Date to respond to such claim. Notwithstanding the previous sentence, if Trident’s response to such claim does not finally adjudicate the claim, Trident shall immediately upon sending its response to the claimant transfer administration of such claim to Fountain for final adjudication.

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