Severance Compensation Agreement Sample Clauses

Severance Compensation Agreement. Subject to the terms and conditions of the Severance Compensation Agreement, (a) the Company agrees to pay the Executive the severance payments and to provide the Executive with the other benefits described in Section 2 of the Severance Compensation Agreement, to provide the Executive with the rights described in Section 3 of the Severance Compensation Agreement, and to otherwise comply with the provisions of the Severance Compensation Agreement, as the case may be, and (b) the Executive agrees to comply with the confidentiality and noncompetition covenants in Section 8 of the Severance Compensation Agreement and to otherwise comply with the provisions of the Severance Compensation Agreement.
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Severance Compensation Agreement. This is a Change in Control - Severance Compensation Agreement (the "Agreement") made by and between Farmers & Merchants State Bank ("Company") and Xxxxxxx X. Xxxxxxxxxxx ("Executive").
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Severance Compensation Agreement. SEVERANCE COMPENSATION AGREEMENT dated as of July 31, 1999 between Transaction Systems Architects, Inc., a Delaware corporation (the "Company"), and Xxxx Xxxxxx (the "Executive").
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Severance Compensation Agreement. The Severance Compensation Agreement dated as of March 9, 2020 between you and Cimarex, (the obligations of which were assumed by the Company on October 1, 2021), shall remain in full force and effect in accordance with its terms through October 1, 2026 (as amended from time to time, including by the Prior Letter Agreement and this Agreement, the “Severance Agreement”).
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Severance Compensation Agreement. Concurrently herewith CUI and Pattxx xxxll enter into a Severance Compensation Agreement substantially in the form of Attachment B to this Agreement.
Sample 1
Severance Compensation Agreement. Reference is hereby made to the Severance Compensation Agreement dated September 5, 1996, as amended on October 1, 1999 and further amended on August 30, 2000 and further amended on October 1, 2002, by and between Executive and Company (hereinafter "Severance Compensation Agreement"), a copy of which is attached hereto as Exhibit C. Executive acknowledges and agrees that the Company has fully satisfied all of its obligations to Executive under the Severance Compensation Agreement. By signing this Agreement, the parties understand and agree that the Severance Compensation Agreement is hereby terminated and of no further force or effect.
Sample 1
Severance Compensation Agreement. This Agreement is effective as of the date it is signed by both AQUILA, INC., a Delaware corporation (the "Company"), and Xxxxxxxxxxx X. Xxxxx ("Executive").
Sample 1
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Severance Compensation Agreement. The Severance Compensation Agreement dated as of March 9, 2020 between you and Cimarex, as amended on May 19, 2020 (the “Severance Agreement”), shall remain in full force and effect in accordance with its terms, except as specifically modified by this Letter Agreement, including the Employment Terms. Effective as of the Effective Date, Cabot hereby assumes the Severance Agreement such that all references in the Severance Agreement to the “Company” shall refer to Cabot and all references in the Severance Agreement to the “Board” shall refer to the Board of Directors of Cabot. A copy of the Severance Agreement is included in Exhibit B to this Letter Agreement. Cabot acknowledges and agrees that the Merger constitutes a “Change in Control” within the meaning of the Severance Agreement.
Sample 1
Severance Compensation Agreement. The Executive and the Company have on the date hereof entered into a Severance Compensation Agreement.
Sample 1

Related to Severance Compensation Agreement

  • Severance Compensation In the event (i) Employee terminates this Agreement for Good Reason in accordance with Paragraph 11.3 hereof; (ii) Employee is terminated for any reason (except death or disability) upon, or within six months following, a "Change in Management or Control (as such term is defined in Paragraph 11.5 hereof);" or (iii) Employee is terminated without Cause, the Company shall be obligated to pay severance compensation to Employee in an amount equal to his salary compensation (at the rate payable at the time of such termination) for a period of six (6) months from the date of termination. Notwithstanding the foregoing, if Employee is employed by a new employer, or as a consultant after the termination of this Agreement, the severance compensation payable to Employee hereunder shall be reduced by the amount of compensation that Employee actually receives from the new employer, or as a consultant. However, Employee shall have a duty to inform the Company that he has obtained such new employment, and the failure to do so is a material breach of this Agreement. In such event, the Company shall be entitled to (i) cease all payments to Employee under this Paragraph 11.4; and (ii) recover any unauthorized payments to Employee in an action for breach of contract. Notwithstanding anything else in this Agreement to the contrary, solely in the event of a termination upon or following a Change in Management or Control, the amount of severance compensation paid to Employee hereunder shall not include any amount that the Company is prohibited from deducting for federal income tax purposes by virtue of Section 280G of the Internal Revenue Code of 1986, as amended, or any successor provision. In addition to the foregoing severance compensation, the Company shall pay Employee (i) all compensation for services rendered hereunder and not previously paid; (ii) accrued vacation pay; and (iii) any appropriate business expenses incurred by Employee in connection with his duties hereunder and approved pursuant to Section 4 hereof, all through the date of termination. Employee shall not be entitled to any bonus compensation, whether vested or unvested; or any other compensation, benefits or reimbursement of any kind.

  • Severance Agreement Any payments of compensation made pursuant to Articles 4 and 5 are contingent on Executive executing the Company’s standard severance agreement, including a general release of the Company, its owners, partners, stockholders, directors, officers, employees, independent contractors, agents, attorneys, representatives, predecessors, successors and assigns, parents, subsidiaries, affiliated entities and related entities, and on Executive’s continued compliance with Section 6. Executive must execute the standard severance agreement and release within 45 days of being provided with the document to sign or the severance agreement offer will expire.

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

  • Severance Agreements (a) In the event of the termination of employment of the Executive by Horizon for any reason whatsoever other than for Cause at any time from and after the date of this Agreement or in the event of termination of employment of the Executive by the Executive with Good Reason (as defined in Section 3 hereof) at any time within the twelve (12) month period after the occurrence of a Change of Control:

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Compensation; Employment Agreements 16 5.15 Noncompetition, Confidentiality and Nonsolicitation Agreements; Employee Policies...... 16 5.16

  • Severance Compensation upon Termination Subject to the provisions of Section 10 hereof, in the event of the Employee’s Termination upon a Change of Control, the Company shall pay to the Employee, within fifteen (15) days after the Termination Date (or as soon as possible thereafter in the event that the procedures set forth in paragraph (b) of Section 11 hereof cannot be completed within fifteen (15) days) an amount in cash equal to three (3) times the sum of the Employee’s Base Salary in effect either immediately prior to the Separation from Service or immediately prior to the Change of Control, whichever is higher.

  • Compensation Benefits In consideration of Executive's services hereunder, the Company shall provide Executive the following:

  • Employment Agreement On the terms and conditions set forth in this Agreement, the Company agrees to employ the Executive and the Executive agrees to be employed by the Company for the Employment Period set forth in Section 2 hereof and in the position and with the duties set forth in Section 3 hereof. Terms used herein with initial capitalization are defined in Section 10.12 below.

  • 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.

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