Post-Termination Benefits Sample Clauses
The Post-Termination Benefits clause defines the rights and entitlements that a party, typically an employee or contractor, retains after the termination of an agreement. This may include continued health insurance coverage, severance pay, or the vesting of certain benefits such as stock options, depending on the terms of the contract. By clearly outlining what benefits survive the end of the contractual relationship, this clause helps prevent disputes and ensures both parties understand their ongoing obligations and entitlements after termination.
Post-Termination Benefits. If the Executive's employment shall be terminated for any reason following a Change in Control and during the Term, the Company shall pay to the Executive the Executive's normal post-termination compensation and benefits as such payments become due. Such post-termination compensation and benefits shall be determined under, and paid in accordance with, the Company's retirement, insurance and other compensation or benefit plans, programs and arrangements as in effect immediately prior to the Date of Termination or, if more favorable to the Executive, as in effect immediately prior to the occurrence of the first event or circumstance constituting Good Reason.
Post-Termination Benefits. Except as otherwise expressly provided herein, all of Executive’s rights to Base Salary (defined below), bonuses, employee benefits and other compensation hereunder which would have accrued or become payable for Services after the termination of Executive’s employment hereunder shall cease upon such termination, other than those expressly required under applicable law. Unless contrary to applicable law, any accrued but unused vacation, sick leave, and other paid time off (“PTO”) shall be forfeited upon termination of Executive’s employment and Executive will receive no additional compensation or payment for such unused vacation, sick leave, and other paid time off.
Post-Termination Benefits. Except as otherwise expressly provided herein, all of Executive's rights to salary, bonuses, employee benefits and other compensation hereunder which would have accrued or become payable after the termination of Executive's employment shall cease upon such termination, other than those specifically provided for under the Company Benefit Plans (subject to the provisions herein) or as otherwise expressly required under applicable law (such as COBRA).
Post-Termination Benefits. Except to the extent required under Section 4980B of the Code or similar state laws, the Parent and the Borrowers shall not, and shall not permit any of their respective Restricted Subsidiaries to, adopt any new employee benefit plan that provides health or welfare benefits (through the purchase of insurance or otherwise) to any retired or former employees, consultants or directors (or their dependents) of the Parent or any of its Subsidiaries, which plan, when combined with any existing post-retirement benefit plan of the Parent or the Borrowers or any of their Restricted Subsidiaries would reasonably be expected to result in aggregate liability, calculated on a FAS 106 basis as of the end of any fiscal year, in excess of $65,000,000.00.
Post-Termination Benefits. Except to the extent required under Section 4980B of the Code or similar state laws, the Borrower shall not, and shall not permit any of its Subsidiaries to, without the consent of the Required Lenders, adopt any Employee Benefit Plan that provides health or welfare benefits (through the purchase of insurance or otherwise) to any retired or former employees, consultants or directors (or their dependents) of the Borrower or any of its Subsidiaries.
Post-Termination Benefits. The benefits hereunder shall be deemed the “Other Compensation” referenced in Section 6(d), 6(e) and 6(f) hereof. Except if NEILL resigns without Good Reason (other than retirement on or after the age of 62), in the event NEILL’s employment with the Corporation is terminated for any reason prior to the end of the Term, NEILL and his dependents, if any, will continue to participate in any group health plan sponsored by the Corporation in which NEILL was participating on the date of such termination, at a cost to NEILL and his dependents equal to the amount charged by the Corporation to similarly situated employees while employed by the Corporation, for the remainder of the Initial Term or, if termination occurs within an Additional Term, for the remainder of such Additional Term. Thereafter, NEILL and his dependents, if any, shall be entitled to elect to continue such health coverage, at a cost to NEILL and his dependents equal to the amount paid by the Corporation for similarly situated employees while employed by the Corporation, for the longest period of time permitted by the agents of the Corporation who arrange for such health coverage, with such period to last at least twelve (12) months from the date of termination. Upon termination for any reason, in addition to any payments to which NEILL may be entitled upon termination of his Employment pursuant to any provision of this Agreement, NEILL shall be entitled to any benefits under any pension, supplemental pension, savings, or other employee benefit plan (other than life insurance) in which NEILL was participating on the date of any such termination.
Post-Termination Benefits. Other than as required under Section 601 et. Seq. of ERISA or other applicable Law, no Benefit Plan provides post-termination or retiree welfare benefits to any individual for any reason, and neither the Company nor any of its ERISA Affiliates has any Liability to provide post-termination or retiree welfare benefits to any individual or ever represented, promised or contracted to any individual that such individual would be provided with post-termination or retiree welfare benefits.
Post-Termination Benefits. In the event of a Termination without Cause or a Termination for Good Reason in connection with or following a Change-in-Control, as defined in Section 25, Executive shall become immediately vested in any outstanding unvested equity or equity-based awards granted to Executive.
Post-Termination Benefits. Neither the Company nor any Employee Benefit Plan provides or has any obligation to provide (or contribute toward the cost of) post-employment or post-termination benefits of any kind, including, without limitation, death and medical benefits, with respect to any current or former officer, employee, agent, director or independent contractor of the Company, other than (a) continuation coverage mandated by Sections 601 through 608 of ERISA and Section 4980B(f) of the Code, (b) retirement benefits under any Employee Benefit Plan that is qualified under Section 401(a) of the Code, and (c) deferred compensation that is accrued as a current liability on the Company Balance Sheet.
Post-Termination Benefits. “Post Termination Benefits” means (i) continuing payment of Executive’s base salary in effect at the time of termination for the greater of nine (9) months following the date of termination or the balance of the then applicable Term, and (ii) continuing coverage of Executive, his spouse and children, if any, at the Company’s expense, under any health and dental insurance plans that covered Executive immediately prior to termination, for a period of six (6) months following the date of termination.