Severance Amounts. At the conclusion of the Offer Period, Xxxxx shall provide a list of all Available Employees to whom Xxxxx submitted an offer. For each Xxxxx Employee (i) who is not made an offer of employment that would avoid a Qualifying Termination for such employee (as such term is defined in LINN’s Severance Plan, attached hereto as Schedule 7) and (ii) whose employment is terminated by LINN on or prior to the end of the Term, Xxxxx will be charged 100 percent of any severance fees and obligations associated with such termination. For each Xxxxx-XXXX Employee (x) who is not made an offer of employment that would avoid a Qualifying Termination for such employee and (y) whose employment is terminated by LINN on or prior to the end of the Term, Xxxxx will be charged 30 percent of any severance fees and obligations associated with such termination (the aggregate amount payable by Xxxxx under this Section 4.3 is referred to herein as “Xxxxx Xxxxxxxxx Fees”). LINN shall retain responsibility for (A) 70 percent of any severance fees and obligations associated with the termination on or prior to the end of the Term of any Xxxxx-XXXX Employee, and (B) 100 percent of any severance fees and obligations associated with the termination of any LINN employee who is not an Available Employee or whose employment is not terminated on or before the end of the Term (even if such employee provides Services under this Agreement).
Severance Amounts. (i) A Regular Full-time Employee shall be eligible for severance pay in the amount of four (4) weeks regular pay for each full year of continuous employment to a maximum of eighty (80) weeks’ pay.
Severance Amounts. In the event that the Company terminates the employment of Executive without Cause or the Executive resigns her employment with the Company with Good Reason, Executive shall receive:
Severance Amounts. In the event that the Company terminates the employment of Executive without Cause or the Executive resigns her employment with the Company with Good Reason, Executive shall receive: (i) subject to the terms of subsection 12.1(b) below, severance payments in an amount equal to 100% of her then-current base salary; (ii) provided that Executive is then-eligible for and timely elects COBRA coverage, payment of Executive’s COBRA premiums for a period not to exceed eighteen (18) months; and that amount will be the amount of her then current COBRA payment; and (iii) any other compensation and benefits owed at termination of employment pursuant to Article 4. (b)
Severance Amounts. From and after Closing, with respect to any Offered Employees who do not become Transferred Employees, Purchaser shall reimburse Seller for any severance payments Seller makes to such employees (to the extent such payments are not greater than the severance amounts indicated for such employees on Schedule 4.23). Purchaser shall make such reimbursement from time to time within five Business Days after receipt from Seller of an invoice therefor, indicating the applicable employee and the amount of severance payment.
Severance Amounts and the Executive Supplemental Pension Plan. Notwithstanding any possible interpretation to the contrary, for purposes of determining the Executive's accrued benefit under the Ruby Tuesday, Inc. Executive Supplemental Pension Plan, no amounts payable to the Executive pursuant to Section 4 hereof shall increase his "Annual Base Salary" (as defined therein).
Severance Amounts. If the Executive's employment terminates for any reason, other than by the Company upon conviction of the Executive of, or plea by the Executive of guilty or nolo contendere to, a felony involving moral turpitude with respect to the business of the Company, the Company shall, in addition to the payments under Section 3.1, (a) continue to pay Executive (or his designated beneficiary), through February [2], 2001, his base compensation ($750,000), payable at such intervals as such base compensation would ordinarily be paid, (b) continue to allow the Executive (or his designated beneficiary) to exercise his Option (and any subsequently granted options) to purchase common stock of the Company pursuant to the terms set forth in the LTIP (other than any provisions in the LTIP that terminate the exercise period for the Option) until the first to occur of (i) February [2], 2001 or (ii) the second anniversary of the Executive's Date of Termination, (c) continue to provide, through February [2], 2001, medical and life insurance coverage in accordance with such Company's programs for similarly situated senior management (and their dependents) as it may exist from time to time and (d) continue to allow the Executive (or his designated beneficiary) to exercise all outstanding stock options granted to Executive by Younkers, Inc., and assumed by the Company, until the first to occur of (i) the regularly scheduled expiration of the term of the stock option or (ii) the first anniversary of the Executive's Date of Termination. If the Executive's employment is terminated by his death, the Company shall direct that all amounts described in Section 3.1 and this Section 3.2 be paid to the Executive's designated beneficiaries, or to the executors, administrators or other legal representatives of the Executive (in such order of priority) as the Executive may have filed with the Company.
Severance Amounts. For the period beginning with the Termination Date and continuing through September 30, 2015, the Bank and GCB hereby agree to pay Xxxxxxxx xxxxxxxxx pay in the amount of Twenty-Five Thousand Dollars ($25,000.00) per year, provided he signs the release attached as Exhibit A as required by this Agreement. Such amount shall be paid in a lump sum on or about August 1st of each year with a pro-rated amount being paid for the period of August and September 2015. With regard to payment for 2007, this sum shall not be paid until Xxxxxxxx signs Exhibit A and its seven day revocation period has expired. Payments in accordance with this Paragraph shall terminate if Xx. Xxxxxxxx becomes employed by another person or business, which employment provides Xx. Xxxxxxxx with eligibility to participate in any health, medical, and/or health insurance plan.
Severance Amounts. In the event of Termination Without Cause at any time during the term, Executive shall be entitled only to continue to receive as liquidated severance amounts (i) his Base Salary for a period of twelve (12) months following the date of such Termination Without Cause, payable in equal twice monthly installments, and (ii) an amount equal to Thirty per cent (30%) of the Base Salary payable over the same period. The severance payments shall terminate upon Executive securing gainful engagement or employment during the time that severance payments are payable. No such severance amounts are due in respect of Resignation by Executive or Termination for Cause. During the twelve (12) month period during which the severance amounts are paid, Executive shall keep Mako informed, in writing, of all engagements or employments. Executive agrees to use his best efforts to secure engagement or employment. 9.
Severance Amounts. (a) The attached Schedule 12.3(a) sets forth, as to each Employee, (i) the Retention Period applicable to the Employee, and (ii) the formula or method for calculating an agreed amount (the “Severance Amount”) of the total severance payment Seller Service Co will be required to make to the Employee upon his or her severance or termination under the Severance Policy, excluding any accrued but unpaid salaries or wages as of the date of termination or severance. Buyer shall pay to Seller Service Co a fee equal to the Severance Amounts that are owed to the Employees (except for the Retiring Employees) (i) to which Buyer Service Co does not offer employment on or prior to the expiration of the Retention Period for such Employees, (ii) who do not accept the offer of employment of Buyer Service Co, or (iii) as a result of the benefits offered by Buyer Service Co differing from the benefits provided by Seller Service Co. With respect to each Employee to whom Seller Service Co is required to pay a Severance Amount, Buyer shall pay, or shall cause Buyer Service Co to pay, to Seller a fee equal to the amount of such Severance Amount due such Employee at least one day prior to the date that Seller Service Co is required to make such Severance Amount to such Employee. Buyer shall not be obligated to pay any amounts to Seller Service Co for any severance payments that are owed by Seller Service Co to Retiring Employees in connection with such Retiring Employees retirement. By agreeing to pay Seller a fee in an amount equal to the Severance Amounts for the Employees (except for the Retiring Employees), Buyer is not undertaking any obligation to make such Severance Amounts to such Employees, and Seller Service Co shall remain responsible for making the Severance Amounts and Employee Benefits associated with the Employees under Applicable Law.
