Severance Compensation and Benefits. In the event that (a) Executive’s employment is either terminated by the Company without Cause under Section 7 or by Executive for Good Reason under Section 10, and (b) Executive is not entitled to any severance or similar compensation or benefits under a “Change in Control” or similar agreement in connection with the termination of Executive’s employment relationship, and (c) Executive executes and delivers to the Company, within twenty-one (21) days (or such longer period required by law if applicable) after termination of Executive’s employment relationship, and does not revoke, a written Release (as defined below), then, except as provided below in this Section 12 and subject to the terms of this Agreement and the aforementioned Release, Executive shall be entitled to receive the following:
Severance Compensation and Benefits. (a) If, following the occurrence of a Change in Control, the Company terminates the Executive's employment during the Severance Period pursuant to Section 3(a) (other than as a result of the Executive's death), or if the Executive terminates his employment during the Severance Period pursuant to Section 3(b), the Company will:
Severance Compensation and Benefits. Not in Derogation of Other ------------------------------------------------------------------ Benefits. Anything to the contrary herein contained notwithstanding, the payment -------- or obligation to pay any monies, or granting of any benefits, rights or privileges to Executive as provided in this Agreement shall not be in lieu or derogation of the rights and privileges that the Executive now has or will have under any plans or programs of or agreements with the Company, except that if the Executive received any payment hereunder, he shall not be entitled to any payment under the Company's severance policies for officers and employees.
Severance Compensation and Benefits. If, after the occurrence of a Change-in-Control, the Executive's employment is terminated by the Company during the twenty-four (24) month period following the date on which the Change-in-Control occurs for any reason other than "Just Cause" (as defined in the Executive's Employment Agreement), the following shall occur:
Severance Compensation and Benefits. (a) If, following the occurrence of a Change in Control and during the Severance Period, (i) the Company terminates the Executive’s employment (other than as a result of the Executive’s death or Disability), or the Company gives the Executive notice of such termination, in either case pursuant to Section 2(a), or (ii) the Executive terminates his or her employment pursuant to Section 2(b), the Company shall:
Severance Compensation and Benefits. Not in Derogation of other -------------------------------------------------------------- Benefits. Anything to the contrary herein contained notwithstanding, the payment --------- or obligation to pay any monies, or granting of any benefits, rights or privileges to Executive as provided in this Agreement shall not be in lieu or derogation of the rights and privileges that the Executive now has or will have under any plans or programs of the Company, except that the Executive shall not be entitled to the benefits of any other plan or program of the Company expressly providing for severance or termination pay if the Executive is terminated without Cause or resigns for Good Reason after a Change in Control.
Severance Compensation and Benefits. In return for the timely execution and nonrevocation of this Agreement and in return for the Executive’s compliance with all of its terms, the Company agrees to provide the Executive with the following compensation and benefits:
Severance Compensation and Benefits. The Executive agrees that, if the Executive’s employment is terminated as a result of non-renewal of the Executive’s Employment Agreement, the Executive shall be entitled to no more than 12 months of severance compensation and will be subject to a one-year non-compete. The Executive further agrees that if he continues his employment following such non-renewal, the Executive shall not be entitled to any payments under the Employment Agreement as a result of such non-renewal.
Severance Compensation and Benefits. Employee shall be entitled to receive Severance Compensation (“Severance Compensation”) if terminated by the Company without Cause, except in the case of termination due to death or Disability; provided, that any payment of Severance Compensation shall be conditioned upon Employee executing and delivering to the Company a release in form attached as Exhibit A hereto (the “Release”). Severance Compensation shall be an amount equal to six (6) months of the annual base salary being paid to Employee at the time of termination. If Employee is entitled to Severance Compensation, the Severance Compensation shall be payable for a period of six (6) months following termination, subject to all required deductions and tax withholdings. The Company will pay the Severance Compensation to Employee on its regularly scheduled payroll dates or, in its discretion, in a lump sum. Severance Compensation shall also include payment by the Company of COBRA premiums for Employee for a period of six (6) months following Employee’s separation. In the event a court of competent jurisdiction finds Employee breached the Release or any of the post-employment obligations set out in Sections 6, 7 and 8, Employee shall not be entitled to any Severance Compensation, and Employee shall immediately repay to the Company any and all Severance Compensation received by Employee.
Severance Compensation and Benefits. In accordance with Section 2.1 of this Agreement, Hospira shall be responsible for any and all Liabilities to, or relating to, Transferred Employees relating to severance and unemployment compensation and benefits and, except as expressly provided below, Abbott shall be responsible for any and all Liabilities to, or relating to, Abbott Retained Employees relating to severance and unemployment compensation and benefits. Notwithstanding the foregoing, in the event that, with respect to any country, (a) the number of Post-Distribution Transferred Employees in that country at the conclusion of Xxxxxx'x provision of transitional services in that country is less than the Allocated Employee Number for that country and (b) Abbott reasonably concludes that it must layoff Post-Distribution Employees in that country as a result of the Hospira Group's failure to employ a number of Post-Distribution Employees in that country equal to the Allocated Employee Number, then, subject to the following sentence, Hospira shall reimburse Abbott for the costs associated with those layoffs. Notwithstanding the foregoing, Hospira shall not be required to reimburse Abbott for a number of layoffs in any country greater than (i) the Allocated Employee Number for that country less (ii) the sum of (x) the number of Post-Distribution Transferred Employees in that country and (y) the number of Post-Distribution Employees in that country (other than Post-Distribution Transferred Employees) to whom Hospira makes an offer of employment that includes cash and long-term incentive compensation equivalent to that provided to the Post-Distribution Employee by the Abbott Group.
