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. Under his Employment Agreement, Xxxx Xxxx is eligible for certain severance payments, SERP benefits and other employee benefits.
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. Section 5.1 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 as part of changes affecting Seller as a whole and not affecting the Company disproportionately, adopt or approve any severance, bonus or benefit acceleration arrangements (whether individually or more broadly) that could be triggered upon or after the Closing.
Severance Arrangement. The Company has not entered into any severance arrangements with any employee that provides for a cash payment in excess of $75,000; provided, that the Company has entered into arrangements with service providers providing for acceleration of vesting of restricted stock or options issued to employees in connection with or following a change of control.
Severance Arrangement. Provided that you meet the conditions set forth in this paragraph, you will be eligible to receive the Severance Benefits (defined below) if, prior to December 31, 2005: (a) you are terminated without Cause (as defined below) by the Company; or (b) you resign as CEO due solely to the hiring, or anticipated hiring, of a specifically identified and viable CEO candidate and you do not resign as Chairman of the Board but rather are removed as Chairman by the other Board members following your employment termination date. In order to be eligible for the Severance Benefits, you must first: (i) timely provide the Company with an effective general release of all known and unknown claims in the form provided to you by the Company; (ii) enter into a written consulting agreement with the Company that includes the terms summarized in Exhibit A attached hereto (the “Consulting Agreement”), and satisfactorily provide consulting services, at the Company’s request, thereunder during the twelve (12) months that you receive the Severance Payments (as defined below); and (iii) if requested by a majority of the other Board members, you resign as Chairman of the Board. At the Company’s option, in lieu of the Consulting Agreement referenced in the immediately preceding sentence, the Company may require that you enter into a noncompetition agreement, and that you comply with your obligations under such noncompetition agreement during the twelve (12) months that you receive the Severance Payments, in order to be eligible to receive Severance Payments. For purposes of this Agreement, the Severance Benefits are defined as: (a) severance in the form of salary continuation for twelve (12) months at the base salary rate in effect as of your employment termination date, subject to standard payroll deductions and withholdings and paid on the Company’s normal payroll dates (the “Severance Payments”); and (b) acceleration, equal to the number of shares that would have vested if your employment as CEO had continued for twelve (12) months after the employment termination date, of the shares subject to First New Grant, the Second New Grant, the Third New Grant and the Fifth New Grant.
Severance Arrangement. Grant any severance or termination pay to any other Employee of the Transferred Business except as required under Section 1.8(b);
