Severance Arrangement. Grant any severance or termination pay (i) to any director or officer or (ii) to any other employee except (A) payments made pursuant to standard written agreements outstanding on the date of this Agreement or (B) grants which are made in the ordinary course of business in accordance with its standard past practice;
Severance Arrangement. Grant any severance or termination pay (i) to any director or officer or (ii) to any other employee except payments made pursuant to standard written agreements outstanding on the date of this Agreement;
Severance Arrangement. Except as provided in Sections 4(b), 4(c) and 4(d) below, if any Plan Participant’s employment with a member of the Company Group is terminated by such Person other than for Cause, or if any Plan Participant resigns from employment with such Person for Good Reason, such Plan Participant shall receive, during the Payout Period, (x) severance payments (“Severance Payments”) equal in the aggregate to the product of (1) the Severance Multiple and (2) Base Salary of such Plan Participant and (y) the health benefits, at the Company’s cost (subject to satisfying insurability requirements), to which such Plan Participant would otherwise have been entitled pursuant to the Employment Agreement (subject to such Plan Participant’s COBRA election) and outplacement services, in each case, for the Payout Period. Severance Payments shall be made bi-weekly, in accordance with normal payroll practices for the Payout Period except that if any class of NEI common stock is publicly tradable on an established securities market, no amounts shall be paid pursuant to this Section 4(a) during the first 6 months following a Participant’s termination unless the payments satisfy the requirements for separation pay due to involuntary separation from service as provided in Treas. Reg. 1.409A-1(b)(9)(iii). The Company’s health benefits and outplacement services described above will be made available until the earlier of the end of the Payout Period or the receipt of comparable benefits on re-employment. Severance Payments shall not be reduced as a result of re-employment or otherwise.
Severance Arrangement. Except as expressly provided herein, this Agreement is not intended to alter the form or timing of any severance pay or benefits provided to you under any prior arrangement, including, but not limited to, the Cash America International, Inc. Severance Pay Plan for Executives (the “Severance Plan”) but is intended to provide for certain additional payments and benefits described herein. Your separation from the Company under this Agreement is an “Eligible Termination” for purposes of, and within the meaning of, Section 2(c) of the Severance Plan. All of your employment by, and services for, the Company will cease, and you thereby will have a separation from service on, March 29, 2013 (your “Severance Date”). In consideration of your separation from service, you and the Company agree to the following:
Severance Arrangement. 1. Under his Employment Agreement, Xxxx Xxxx is eligible for certain severance payments, SERP benefits and other employee benefits.
Severance Arrangement. Section 6.1 of the Agreement is hereby amended (i) by deleting the word "six" in each place where it appears in the section and replacing it with the word "12," (ii) by deleting the word "five" where it appears in the section and replacing it with the word "11," and (iii) by deleting the word "current" in each place where it appears in the section and replacing it with the word "then-current."
Severance Arrangement. Except for the transactions contemplated by Section 5.13, grant or enter into any agreement providing for any severance or termination pay to any employee, director or officer.
Severance Arrangement. Xxxxxxx: The purpose of this letter is to provide to you details of a severance arrangement offered to you by JGWPT Holdings, LLC (on behalf of itself and its subsidiaries) (the “Company”) as set forth herein. In the event your employment with the Company and/or any subsidiary or affiliate of the Company is involuntarily terminated for any reason (other than a termination for “cause”, which includes but is not limited to acts such as theft and fraud), you will receive, subject to your execution of the Company’s severance and release documentation, fifty-two (52) weeks of salary at your current base rate of pay (paid in accordance with the Company’s normal payroll practice). Please feel free to contact me with any questions that you may have regarding the foregoing. Yours, /s/ Xxxxx Xxxxxx Xxxxx Xxxxxx CEO Accepted and agreed to this 20 day of August 2012 /s/ Xxxxxxx Xxxx Xxxxxxx Xxxx
Severance Arrangement. At the time you cease employment with the Company, under your Retention Agreement dated December 18, 2000, you will be entitled to receive total severance pay equal to $888,000 (i.e., 2 times a dollar amount equal to 100% of your annual base salary). This severance pay will be governed by, and paid in accordance with, the terms of the Xxxxx Xxxxxxxxx Pay Plan for Salaried Employees (the “Xxxxx Xxxxxxxxx Plan”). Under the terms of the Plan, in order to receive this severance pay, you are required to agree to and sign an employment law release that is acceptable to the Company. You will be asked to sign that release a few weeks before your last day of employment. A copy of such a release is enclosed. After you (and your attorney and other advisors) review the release, please call Xxxx Xxxxxxx with any questions or comments. Severance will not be paid until we receive a signed copy of the release (and the revocation period has passed). If you also become entitled to benefits under your Change In Control Agreement; you will only receive benefits under the Agreement that provides the greater amount of benefits to you; you will not receive benefits under both Agreements, in any event. Provided you return a signed release on a timely basis, your severance pay will commence on the day after your last date of employment with the Company. Under the terms of the Xxxxx Xxxxxxxxx Plan, you may elect to receive your severance pay over a period of 24 months in periodic payroll installments. Alternatively, you may receive your severance pay in a lump sum at any time following termination (less any installments previously paid). You should note, however, that you are entitled to continue to participate in the Company’s medical, vision, dental and life insurance plans, on the same basis as active employees, only during the period you receive severance pay. Therefore, such entitlement ceases when and if you elect to receive severance pay in a lump sum. As provided under the federal law commonly called “COBRA”, you may continue coverage under Xxxxx’s medical, vision and dental plans for up to 18 months following your final severance payment. Prior to that date, more information regarding your rights under COBRA will be sent to you at your home address. You will be eligible to convert any or all of your current basic, supplemental, and dependent life insurance (as applicable) to a personal policy with Metropolitan Life Insurance Company. If you are interested in obtaining cost...
Severance Arrangement. Grant any severance or termination pay (i) to any director or officer or (ii) to any other employee except (A) payments made pursuant to standard written agreements outstanding on the date of this Agreement, (B) grants which are made in the ordinary course of business in accordance with its standard past practice or (C) severance payments to Target's Chief Executive Officer pursuant to that certain General Release of All Claims dated as of May 30, 2003;
