SEVERANCE AND TERMINATION PAY Sample Clauses

SEVERANCE AND TERMINATION PAY. No director or employee of MMIS will have a right to receive any severance, golden parachute, or termination pay or similar compensation if terminated subsequent to the Closing, in excess of two (2) weeks salary and accrued bonuses, if any, as set forth on the Disclosure Schedule (other than ordinary administrative costs not to exceed $5,000). In addition, none of De Both, Xxxxx Xxxxxxx, Xxxxx Xxxx, Xxxxxx Xxxxxx, Xxxxx Xxxx or Xxxxx Xxxxx will have a right to receive any severance, golden parachute, or termination pay or similar compensation if terminated prior to the Closing.
Sample 1
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SEVERANCE AND TERMINATION PAY. In the event that during the term of this labour Agreement any current employee with 2 or more years of continuous service is permanently laid off because of the technological advancement and modernization of the Windsor Elevator, the following provisions shall be the agreed upon Severance and Termination Pay.
Sample 1
SEVERANCE AND TERMINATION PAY. The Employer shall comply with the provisions of the Employment Standards Act with respect to notice of termination or pay in lieu (or a combination of both) and severance pay.
Sample 1
SEVERANCE AND TERMINATION PAY. In the event that during the term of this lab Agreement any current employee with or more years of continuous service i permanently laid off because of the technological advancement and of the Windsor Elevator, the following provisions shall be the agreed upon Sever and Termination Pay. Each permanently laid off employee with or more years of continuous will be paid severance and pay at the time of the permanent layoff The employee will receive week pay for every year of service as listed on the current seniority list (years of se ice will be rounded to the nearest month), with a minimum of weeks pay. Permanently laid off employees are paid the severance and termination package will have their current any-paid insurance benefits extended to months following the month in which they are permanently laid off Employees with or more years o continuous service will not be eligible for Severance and termination pay until such time as they are permanently laid off Any employee who leaves the any's employ for any reason prior to such permanent layoff will not be for the above outlined severance and termination package. At the time the permanently laid termination pay, such employee's Elevator seniority list, and that be severed. I
Sample 1
SEVERANCE AND TERMINATION PAY. Neither the Company nor any of its subsidiaries shall take any action with respect to the grant of any severance or termination pay (otherwise than pursuant to policies or written agreements of the Company in effect on the date hereof) or with respect to any increase of benefits payable under its severance or termination pay policies or written agreements in effect on the date hereof.
Sample 1
SEVERANCE AND TERMINATION PAY. Neither the Company nor any Company Subsidiary shall take any action with respect to the grant of any severance or termination pay (otherwise than pursuant to policies or written agreements of the Company in effect on the date hereof) or with respect to any increase of benefits payable under its severance or termination pay policies or written agreements in effect on the date hereof; provided, however, that the Company may granx xxxxxxxxx xxxefits to one employee at a total cost to the Company not exceeding L90,000 in the aggregate.
Sample 1

Related to SEVERANCE AND TERMINATION PAY

  • Termination and Termination Pay Subject to Section 12 of this Agreement, Executive’s employment under this Agreement may be terminated in the following circumstances:

  • Termination and Termination Benefits Notwithstanding the provisions of Section 3, the Executive's employment under this Agreement shall terminate under the following circumstances set forth in this Section 6.

  • Severance and Change in Control Benefits The Committee has designated you a participant in the Company’s Executive Change in Control and Severance Plan (the “Policy”), attached as Exhibit A to this Agreement. As a participant in the Policy, you will be eligible to receive severance payments and benefits upon certain qualifying terminations of your Employment as set forth in Exhibit B to this Agreement (the “Participation Terms”), subject to the terms and conditions of the Policy. By signing this Agreement, you agree that this Agreement, the Policy, and the Participation Terms constitute the entire agreement between you and the Company regarding the subject matter of this paragraph and supersede in their entirety all prior representations, understandings, undertakings or agreements (whether oral or written and whether expressed or implied), and specifically supersede any severance and/or change of control provisions of any offer letter, employment agreement, or equity award agreement entered into between you and the Company. For the avoidance of doubt, all other terms of any equity awards granted to you by the Company will remain in effect.

  • Severance Compensation upon Termination of Employment If the Company shall terminate the Executive’s employment other than pursuant to Section 5(a), (b) or (c) or if the Executive shall terminate his employment for Good Reason, then the Company shall pay to the Executive as severance pay in a lump sum, in cash, on the fifth day following the Date of Termination, an amount equal to three (3) times the average of the aggregate annual compensation paid to the Executive during the three (3) fiscal years of the Company immediately preceding the Change of Control by the Company subject to United States income taxes (or, such fewer number of fiscal years if the Executive has not been employed by the Company during each of the preceding three (3) fiscal years).

  • Compensation and Benefits Upon Termination (a) If Executive’s employment is terminated by reason of death or Disability, the Company shall pay Executive’s Base Salary, at the rate then in effect, in accordance with the payroll policies of the Company, through the date of such termination (in the event of Executive’s death, the payments will be made to Executive’s beneficiaries or legal representatives) and Executive shall not be entitled to any further Base Salary or any applicable bonus, benefits or other compensation for that year or any future year, except as may be provided in Sections 5(d) or (e) below or an applicable benefit plan or program, or to any severance compensation of any kind, nature or amount.

  • Employment and Termination Neither the Plan, this Agreement nor any related documents, communications or other material shall give Employee the right to continued employment by BellSouth or by any Subsidiary or shall adversely affect the right of any such company to terminate Employee's employment with or without cause at any time.

  • Compensation and Benefits Upon Termination of Employment (a) If the Company shall terminate the Executive's employment after a Change in Control other than pursuant to Section 3(b), 3(c) or 3(d) and Section 3(f), or if the Executive shall terminate his employment for Good Reason, then the Company shall pay to the Executive, as severance compensation and in consideration of the Executive's adherence to the terms of Section 5 hereof, the following:

  • 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:

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