Severance, Etc. Buyer shall provide the Employees severance arrangements as set forth in the Severance Pay Plan attached hereto as Schedule 5.12 (the "Severance Plan"), which Buyer shall adopt immediately after the Closing.
Severance, Etc. (i) The employment of each current Company Service Provider is subject to termination upon not more than 30 days prior written notice under the termination notice provisions included in the applicable Company Service Provider Agreement with such Company Service Provider identified or required to be identified in Part 2.15(d) of the Disclosure Schedule or under applicable Legal Requirements without the payment of severance; and (ii) no current Company Service Provider’s employment by any Acquired Company requires any special license, permit or other Governmental Authorization.
Severance, Etc. The Company will be responsible for the severance expenses (computed in accordance with Schedule 2.19) due any Employee terminated after the Closing Date. The Company or the Buyer will be responsible for any employee benefit plan-related costs or payments due such Employees under the Buyer's employee benefit plans. The Sellers will be responsible for severance expenses, other than those accrued on the Closing Date Balance Sheet, due (a) any Employee terminated at or prior to the Closing Date, (b) for the employer-paid extended Company Welfare Plan Coverage provided by FGC under Section 5.15, and (c) under the Sellers' Plans and Other Benefit Obligations.
Severance, Etc. The employment or engagement of each current Company Associate is subject to termination upon not more than thirty (30) days prior written notice under the termination notice provisions included in the applicable Company Associate Agreement with such Company Associate, except as required by applicable Legal Requirements. No current Company Associate’s employment by an Acquired Company requires any Permit.
Severance, Etc. Provided that (i) you execute the enclosed copy of this letter and the enclosed Release and return them to the Company, (ii) you do not revoke the Release and (iii) you are in substantial compliance with your obligations under this letter, the Company will pay to you the following amounts, less applicable withholding, within ten days following the date of this letter (but in no event prior to expiration of the revocation period applicable to the Release):
A. an amount equal to $1,530,000, pursuant to Section 10(d)(ii)(B)(III) of the Agreement; and
B. an amount equal to $70,439, pursuant to Section 8(b) of the Agreement, representing 50% of the present value of the enhanced benefit to which you would have been entitled had you earned the so-called "90 point" pension under the Company's tax-qualified defined benefit pension plan.
Severance, Etc. The transactions contemplated by this Agreement will not, whether alone or upon the occurrence of any additional or subsequent event, result in any payment of severance or other compensation to, or any acceleration, vesting or increase in benefits under any Employee Plan for the benefit of, any employee.
Severance, Etc. 1. Xxxx Xxxxx, a salesman, has been terminated effective as of February 24, 1992, and will receive severance payments totalling approximately $13,000 through May, 1992.
2. RBC has agreed to pay the employees of RBCF who are being terminated as a result of the cessation of RBCF's operations in Connecticut one month's severance pay. The total cost of such payments is expected to total approximately $7,500 in severance payments and $4,000 in accrued vacation payments, all of which has been accrued on the books of RBC.
Severance, Etc. Except for benefits, if any, due under the Severance Plan, the transactions contemplated by this Agreement shall not, whether alone or upon the occurrence of any additional or subsequent event, result in any payment of severance or other compensation to, or acceleration, vesting or increase in benefits under any Employee Plan for the benefit of any current or former director, officer or employee of the Company.
Severance, Etc. Except as set forth in Part 4.15(g) of the Disclosure Schedule: (i) the employment of each current Acquired Company Employee is subject to termination upon not more than three months’ prior written notice under the termination notice provisions included in the applicable Acquired Company Employment Agreement with such Acquired Company Employee identified or required to be identified in Part 4.15(d) of the Disclosure Schedule or under applicable Legal Requirements; (ii) all obligations of the Acquired Companies to provide severance pay to all current Acquired Company Employees are fully funded and are accrued on the Company Financial Statements to the extent required under applicable law; and (iii) no current Acquired Company Employee's employment by any Acquired Company requires any special license, permit or other Governmental Authorization.
Severance, Etc. Except as set forth in Part 2.15(q) of the Disclosure Schedule: (i) the employment of each current employee of an Acquired Company is subject to termination upon not more than 30 days prior written notice under the termination notice provisions included in the applicable Acquired Company Employee Agreement with such employee disclosed in Part 2.15(c) of the Disclosure Schedule or under applicable Legal Requirements; and (ii) all obligations of the Acquired Companies to provide statutory severance pay to all current employees pursuant to applicable Legal Requirements are fully funded in the relevant employee’s provident funds, pursuant to Section 14 Arrangements, and the Acquired Companies will not have any further liability or obligation to make payment of statutory or contractual severance pay in the event of dismissal of employees, except for the release of the funds accumulated in accordance with the Section 14 Arrangements. The Section 14 Arrangement was properly applied in accordance with the terms of the general permit issued by the Israeli Minister of Labor regarding all former and current employees of any Acquired Company who reside in Israel based on their full salaries and from their commencement date of employment. All amounts that any Acquired Company is legally or contractually required to either: (A) deduct from their employees’ salaries and any other compensation or benefit or to transfer to such employees’ plans, or (B) withhold from employees’ salaries and any other compensation or benefit and to pay to any Governmental Body as required by any applicable Legal Requirement, have been duly deducted, transferred, withheld and paid, in accordance with applicable Legal Requirement, and no Acquired Company has any outstanding obligation to make any such deduction, transfer, withholding or payment (other than routine payments, deductions or withholdings to be timely made in the Ordinary Course). (r)
