Common use of Severance Compensation Clause in Contracts

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive's employment during the Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment pursuant to Section 3(b), the Company shall pay to the Executive the amounts described in Annex A within five business days after the Termination Date and shall provide to the Executive the benefits described on Annex A for the periods described therein.

Appears in 5 contracts

Samples: Severance Agreement (Laidlaw International Inc), Severance Agreement (Laidlaw International Inc), Control Severance Agreement (Laidlaw International Inc)

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Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive's ’s employment during the Severance Protection Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment during the Protection Period pursuant to Section 3(b), the Company shall will pay to the Executive the amounts described in Annex A within five business days after at the Termination Date times and shall provide to in the Executive the benefits described on Annex A for the periods manner described therein.

Appears in 5 contracts

Samples: Change in Control Severance Agreement (Cliffs Natural Resources Inc.), Change in Control (Cliffs Natural Resources Inc.), Change in Control (Cliffs Natural Resources Inc.)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive's ’s employment during the Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his Executive’s employment pursuant to Section 3(b), Company will be obligated to make the Company shall pay following payments and provide the following benefits to the Executive the amounts described in Annex A within five business days after the Termination Date and shall provide to the Executive the benefits described on Annex A for the periods described thereinExecutive.

Appears in 5 contracts

Samples: Severance Agreement (Sherwin Williams Co), Severance Agreement (Sherwin Williams Co), Severance Agreement (Sherwin Williams Co)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive's employment during the Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii3(a), or if the Executive terminates his Executive's employment pursuant to Section 3(b), the Company shall will pay to the Executive the amounts described in Annex A within five business days after the Termination Date and shall provide to the Executive the benefits described on Annex A for the periods described therein.following:

Appears in 3 contracts

Samples: Severance Agreement (Playboy Enterprises Inc), Severance Agreement (Playboy Enterprises Inc), Employment Agreement (Playboy Enterprises Inc)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive's ’s employment during the Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii3(a), or if the Executive terminates his Executive’s employment pursuant to Section 3(b), the Company shall will pay to the Executive the amounts described in Annex A within five business days after the Termination Date and shall provide to the Executive the benefits described on Annex A for the periods described therein.following:

Appears in 2 contracts

Samples: Severance Agreement (Playboy Enterprises Inc), Severance Agreement (Playboy Enterprises Inc)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary Subsidiary, as the case may be, terminates the Executive's employment during the Severance Period applicable to such Change in Control other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment pursuant to Section 3(b), the Company shall will pay to the Executive the amounts described in Annex A following lump sum payment within five business days after the Termination Date and shall continue to provide to the Executive the benefits described on Annex A for the periods described therein.following benefits:

Appears in 1 contract

Samples: Control Severance Agreement (Detroit Edison Co)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary a Subsidiary, as the case may be, terminates the Executive's employment during the Severance Period applicable to such Change in Control other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment pursuant to Section 3(b), the Company shall will pay to the Executive the amounts described in Annex A within five business days after the Termination Date and shall provide to the Executive the benefits described on Annex A for the periods described therein.benefits:

Appears in 1 contract

Samples: Control Severance Agreement (Dte Energy Co)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive's employment during the Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment pursuant to Section 3(b), ) the Company shall will pay to the Executive the following amounts described in Annex A within five business days after the Termination Date and shall continue to provide to the Executive the benefits described on Annex A for the periods described therein.following benefits:

Appears in 1 contract

Samples: Severance Agreement (MPW Industrial Services Group Inc)

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Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive's ’s employment during the Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his the Executive’s employment pursuant to Section 3(b), provided that the Executive executes a release substantially in the form attached hereto as Annex A, the Company shall pay to the Executive the amounts described in Annex A within five business days after the Termination Date and shall provide to the Executive the benefits described on Annex A for the periods described therein.will:

Appears in 1 contract

Samples: Severance Agreement (Washington Group International Inc)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive's employment during the Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment pursuant to Section 3(b), the Company shall will pay to the Executive the following amounts described in Annex A within five business days after the Termination Date and shall continue to provide to the Executive the benefits described on Annex A for the periods described therein.following benefits:

Appears in 1 contract

Samples: Severance Agreement (Autobond Acceptance Corp)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive's ’s employment during the Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment pursuant to Section 3(b) or (c), the Company shall pay to the Executive the amounts described in Annex A within five business days after the Termination Date and shall provide to the Executive the benefits described on Annex A for the periods described therein.

Appears in 1 contract

Samples: Control Severance Agreement (Vermont Transit Co Inc)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive's employment during the Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment pursuant to Section 3(b), the Company shall will pay to the Executive the amounts described in Annex A within five business days after the Termination Date and shall will continue to provide to the Executive the benefits described on Annex A for the periods described therein.

Appears in 1 contract

Samples: Severance Agreement (Harman International Industries Inc /De/)

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