Resignation Benefits Sample Clauses

Resignation Benefits. In consideration of the release and other promises contained herein, the adequacy of which Xxxxx hereby acknowledges, Embrex shall pay resignation benefits as follows: (i) on September 29, 2006, Embrex shall pay Xxxxx One Hundred Thousand Dollars ($100,000.00), less required withholdings; and (ii) on or before the last day of each month, commencing on October 31, 2006, and ending on July 31, 2007, Embrex shall pay Xxxxx Sixteen Thousand Six Hundred and Sixty-Six Dollars and Sixty-Seven Cents ($16,666.67) per month, less required withholdings. As of and after the Resignation Date, Xxxxx shall not be entitled to participate in any employee benefit plans or programs, bonus plans, or incentive plans not otherwise offered to other similarly situated part-time employees. Nothing in this Agreement shall be deemed to limit Xxxxx’ continuation coverage rights under COBRA or Xxxxx’ vested rights, if any, under the 401(k) plan or other plans, and the terms of those plans shall govern.
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Resignation Benefits. In consideration for and subject to the Director’s continued compliance with the agreements, releases and covenants set forth in Sections 1, 3 and 4, the Director shall, effective as of the Resignation Date and contingent upon his compliance with Sections 3 and 4, be entitled to receive the following from the Company (the “Resignation Benefits”):
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Resignation Benefits. In exchange for the promises you make in this Agreement, IRET covenants and agrees to provide you with “Resignation Benefits” as follows: Confidential Resignation Agreement 1 Employee’s Initials: ________
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Resignation Benefits. Subject to Executive’s strict compliance with the terms of this Agreement, including his re-execution of this Agreement (without revocation) as described below, the Company shall provide Executive with the following benefits:
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Resignation Benefits. If: (a) you remain a Company employee in good standing through and including the Separation Date or if your employment is terminated pursuant to either Section 3(b)(i) or Section 3(b)(ii) above, (b) you resign from your Company employment and all officer positions with the Company on the Separation Date or the Early Separation Date (as applicable), and also resign as a director of the Board (if requested by the Board); (c) you comply with the terms of this Agreement and your other continuing obligations owed to the Company, and (d) on or within twenty-one (21) calendar days following the Separation Date or Early Separation Date (as applicable), you sign, date, and return to the Company, the General Release of Claims (the “General Release”) attached hereto as Exhibit A, and allow the General Release to become effective in accordance with its terms; then the Company will provide you with the following “Resignation Benefits” set forth in this Section 4. You acknowledge and agree that if you are eligible for the Resignation Benefits, you will not be eligible for, and will not receive, the Severance Benefits pursuant to the terms and conditions of Section 8.2 of the Employment Agreement or any other severance or termination benefits from the Company, except that you will remain eligible for the CIC Severance Benefits, if applicable, pursuant to the terms and conditions of this Agreement and Section 8.3 of the Employment Agreement.
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Resignation Benefits. Xxxxxx shall receive the benefits provided by: (i) the Pension Plan in accordance with the terms of such plan; and (ii) the Executive Supplemental Retirement Plan that he would have received under such plan if he had continued as an active employee of the Bank and until he had attained the Normal retirement age (as defined in such plan) and to the extent necessary such plan shall be amended to effect this result. Except as otherwise provided in this Section 2, Xxxxxx’x participation in the benefit or incentive plans, programs and arrangements offered to officers or employees of the Company, the Bank, and their respective subsidiaries and affiliates shall cease as of the Resignation Date.
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Resignation Benefits. If you timely sign this Agreement and do not rescind it, the Company will provide you with resignation benefits (the “Resignation Benefits”) in accordance with the following:
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Resignation Benefits. A. Beginning with the first month following date of resignation, and thereafter in accordance with its payroll schedule, the Employer will pay the resignee as follows:
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Related to Resignation Benefits

  • 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:

  • Other Termination Benefits In addition to any amounts or benefits payable upon a Termination of Employment hereunder, Executive shall, except as otherwise specifically provided herein, be entitled to any payments or benefits provided under the terms of any plan, policy or program of the Company in which Executive participates or as otherwise required by applicable law.

  • 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).

  • 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.

  • 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.

  • Change in Control Benefits Agreement shall mean any separate agreement between Participant and the Corporation which provides Participant with special vesting acceleration and/or other special benefits with respect to one or more awards of restricted stock units made to Participant for shares of Common Stock, including (to the extent applicable) the restricted stock units evidenced by this Agreement, in the event of a change in control or ownership of the Corporation (whether or not constituting a Change in Control hereunder).

  • 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.

  • 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.

  • Severance Pay 4.4.2(a) Severance pay - other than employees of a small employer An employee, other than an employee of a small employer, whose employment is terminated by reason of redundancy is entitled to the following amount of severance pay in respect of a period of continuous service: Period of continuous service Severance pay Less than 1 year Nil 1 year and less than 2 years 4 weeks’ pay* 2 years and less than 3 years 6 weeks’ pay 3 years and less than 4 years 7 weeks’ pay 4 years and less than 5 yeas 8 weeks’ pay 5 years and less than 6 years 10 weeks’ pay 6 years and less than 7 years 11 weeks’ pay 7 years and less than 8 years 13 weeks’ pay 8 years and less than 9 years 14 weeks’ pay 9 years and less than 10 years 16 weeks’ pay 10 years and over 12 weeks’ pay * Week’s pay is defined in 4.4.1.

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