Common use of Initial Severance Benefit Period Clause in Contracts

Initial Severance Benefit Period. If at any time during or after the Employment Term, the Executive's employment by the Company is terminated for any reason other than (i) a termination for Cause, (ii) his voluntary resignation (including in breach of this Agreement), or (iii) his death, then for a period of twelve (12) months following the date of termination of the Executive's employment (the "Initial Severance Benefit Period"), the Company shall continue to (a) pay to the Executive, in payroll period installments in accordance with the Company's normal payroll policies, the monthly amount of Executive's Annual Salary in effect at the date of termination of his employment, subject to the limitation of Section 5.5.4 and (b) under the same cost sharing arrangements as were in place prior to termination, continue to include the Executive and his eligible dependents under the coverage of all group health, medical and dental insurance policies maintained by the Company during the Initial Severance Benefit Period for the Company's management employees.

Appears in 2 contracts

Samples: Key Executive Employment Agreement (Englobal Corp), Key Executive Employment Agreement (Englobal Corp)

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Initial Severance Benefit Period. If at any time during or after the Employment Term, the Executive's employment by the Company is terminated for any reason other than (i) a termination for Cause, (ii) his her voluntary resignation (including in breach of this Agreement), or (iii) his her death, then for a period of twelve (12) six months following the date of termination of the Executive's employment (the "Initial Severance Benefit Period"), the Company shall continue to (a) pay to the Executive, in payroll period installments in accordance with the Company's normal payroll policies, the monthly amount of Executive's Annual Salary in effect at the date of termination of his her employment, subject to the limitation of Section 5.5.4 and (b) under the same cost sharing arrangements as were in place prior to termination, continue to include the Executive and his her eligible dependents under the coverage of all group health, medical and dental insurance policies maintained by the Company during the Initial Severance Benefit Period for the Company's management employees.

Appears in 1 contract

Samples: Key Executive Employment Agreement (Englobal Corp)

Initial Severance Benefit Period. If at any time during or after the Employment Term, the Executive's employment by the Company is terminated for any reason other than (i) a termination for Cause, (ii) his voluntary resignation (including in breach of this Agreement), or (iii) his death, then for a period of twelve (12) six months following the date of termination of the Executive's employment (the "Initial Severance Benefit Period"), the Company shall continue to (a) pay to the Executive, in payroll period installments in accordance with the Company's normal payroll policies, the monthly amount of Executive's Annual Salary in effect at the date of termination of his employment, subject to the limitation of Section 5.5.4 and (b) under the same cost sharing arrangements as were in place prior to termination, continue to include the Executive and his eligible dependents under the coverage of all group health, medical and dental insurance policies maintained by the Company during the Initial Severance Benefit Period for the Company's management Executive employees.

Appears in 1 contract

Samples: Key Executive Employment Agreement (Englobal Corp)

Initial Severance Benefit Period. If at any time during or after the Employment Term, the Executive's employment by the Company is terminated for any reason other than (i) a termination for Cause, (ii) his voluntary resignation (including in breach of this Agreement), or (iii) his death, then for a period of twelve (12) six months following the date of termination of the Executive's employment (the "Initial Severance Benefit Period"), the Company shall continue to (a) pay to the Executive, in payroll period installments in accordance with the Company's normal payroll policies, the monthly amount of Executive's Annual Salary in effect at the date of termination of his employment, subject to the limitation of Section 5.5.4 and (b) under the same cost sharing arrangements as were in place prior to termination, continue to include the Executive and his eligible dependents under the coverage of all group health, medical and dental insurance policies maintained by the Company during the Initial Severance Benefit Period for the Company's management employees.

Appears in 1 contract

Samples: Key Executive Employment Agreement (Englobal Corp)

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Initial Severance Benefit Period. If at any time during or after the Employment Term, the Executive's ’s employment by the Company is terminated for any reason other than (i) a termination for Cause, (ii) his voluntary resignation (including in breach of this Agreement), or (iii) his death, then for a period of twelve (12) six months following the date of termination of the Executive's ’s employment (the "Initial Severance Benefit Period"), the Company shall continue to (a) pay to the Executive, in payroll period installments in accordance with the Company's ’s normal payroll policies, the monthly amount of Executive's Annual ’s Salary in effect at the date of termination of his employment, subject to the limitation of Section 5.5.4 and (b) under the same cost sharing arrangements as were in place prior to termination, continue to include the Executive and his eligible dependents under the coverage of all group health, medical and dental insurance policies maintained by the Company during the Initial Severance Benefit Period for the Company's ’s management employees.

Appears in 1 contract

Samples: Key Executive Employment Agreement (Englobal Corp)

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