Severance Period Benefits Sample Clauses

Severance Period Benefits. During the period beginning as of the Resignation Date and ending on May 3, 2010 (the “Benefits Period”, unless extended under Section 2(e) or 2(f) of this Agreement), the Company shall provide Executive continuation of the health (initially pursuant to the Consolidated Omnibus Budget Reconciliation Act (“COBRA”)), life and other benefits as set forth, and to the extent described, in Section 7(b)(iv) of the Employment Agreement.
Sample 1
AutoNDA by SimpleDocs
Severance Period Benefits. In addition to the Severance Period compensation stated above for Executive during the Severance Period, Executive shall be entitled to participate in Keystone's Qualified and Non-qualified Plans as stated and limited on Schedule C attached hereto.
Sample 1
Severance Period Benefits. A. SALARY CONTINUATION. For good and valuable consideration, including but not limited to, the provisions of Paragraph J herein, Reebok agrees to pay your present base salary (which is $600,000 on an annualized basis) on a bi-weekly basis for up to eighteen (18) months beginning as of February 9, 2004, and continuing until August 5, 2005, or the date you secure new employment, whichever occurs first (the "Severance Period"). These payments will be subject to all applicable federal and state taxes and other employment related deductions. Subject to your compliance with the provisions of Paragraph J herein, if you obtain new employment before August 5, 2005, the Company will pay you, within two weeks of being notified of such new employment, a lump sum cash amount equal to one-half of the remaining portion of your pay continuation. For the avoidance of doubt, the term "new employment," in this Amendment and the Employment Agreement shall not refer to a start-up enterprise of which you are at least a 25% owner, to the extent that such enterprise does not yield revenue to you equivalent to a substantial portion of your previous compensation at Reebok. Notwithstanding the foregoing, if you are re-hired by Reebok or re-hired by any Reebok subsidiary or affiliated organization, your severance will cease on the date of such re-employment and you will not be entitled to any lump sum or other payment. You should understand, however, that the Company and its affiliated organizations have no obligation to rehire you as an employee. You will also be paid for any and all previously accrued, but unused, vacation time determined as of the Separation Date in your next paycheck.
Sample 1
Severance Period Benefits. For purposes of this Agreement, the term "Severance Period Benefits" shall mean each of the following benefits:
Sample 1
Severance Period Benefits. Provided that there has not been an Early Termination under Section 1 above, for a period of 6 months following Xxxxxxxx'x Last Day Worked, the Company shall provide the following benefits to Xxxxxxxx:
Sample 1
Severance Period Benefits. Subject to the terms and conditions of this Agreement, including non-revocation by Executive of the release set forth in Section 3(a), during the period beginning as of the Resignation Date and ending on January 31, 2013 (the “Benefits Period”), the Company shall provide Executive and his dependents continuation of medical, hospitalization, vision, dental and life insurance coverage as appropriate initially pursuant to the Consolidated Omnibus Budget Reconciliation Act (“COBRA”)(excluding disability) at the same level that Executive is receiving benefits immediately prior to the Resignation Date. The Company shall continue to pay for such benefits at the same level as borne by the Company prior to the Resignation Date and Executive shall continue to pay for such benefits at the same level as borne by him prior to the Resignation Date. At the time and to the extent that Executive qualifies for substantially similar benefits (determined on a benefit by benefit basis) from a subsequent employer, the benefits provided under this Agreement shall cease.
Sample 1
Severance Period Benefits. In addition to the Severance Period Compensation, Executive shall be entitled to certain fringe and other benefits including, without limitation, participation in Keystone's Supplemental Executive Retirement Plan, Keystone's Performance Unit Plan and Keystone's Trustee and Executive Deferred Compensation Plan (together the "Non-Qualified Plans") through May 31, 2005, each as defined or modified on Schedule D attached hereto. In the event of Executive's death during the Severance Period, Keystone shall continue to pay the Benefits shown on Schedule D [paragraph 5 and 8(c)] to Executive's personal representatives and/or his designated beneficiaries, as designated by a separate signed notice or letter by Executive to the Board hereunder.
Sample 1
AutoNDA by SimpleDocs

Related to Severance Period Benefits

  • Severance Period For purposes of this Agreement, “Severance Period” means the period of time commencing immediately after Executive’s separation of service from the Company through the date that is six (6) months following such separation date, plus an additional two (2) months for every fully completed Year of Service; provided, however, that in all cases the Severance Period will end no later than on the twelve (12)-month anniversary of the date of Executive’s termination of employment.

  • Severance Benefits To the extent that Employee shall be entitled to receive Severance Benefits pursuant to Section 4(d) or 4(e) hereof, Company and Employee agree that the following shall apply: (i) "Severance Benefits" shall mean: (A) a continuation of Employee's then effective salary as payable pursuant to Section 3(a) hereof during the Severance Period (as defined below); (B) payment of any bonus payable to Employee pursuant to Section 3(c) hereof, calculated based on the full Company bonus payable thereunder (subject to attainment by Company of any objective financial or performance standards applicable to Company) and prorated for any period during the Severance Period that is less than the full twelve (12) month period in which such bonus would be earned; (C) immediate vesting and payment of any Option Payments; and (D) continuation during the Severance Period of any medical/dental care coverage (or the reasonable equivalent thereof) which Employee is receiving as of the date of termination of the Period of Employment, provided that such insurance coverage shall terminate prior to the expiration of the Severance Period as of the first date that Employee is covered under another employer's health benefit program which provides substantially the same level of benefits without exclusion for pre-existing medical conditions. Such coverage shall be in lieu of any other continued health care coverage to which Employee or his dependents would otherwise be entitled in accordance with the requirements of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ("COBRA"), by reason of Employee's termination of employment. (ii) "Severance Period" shall mean a period of twenty-four (24) months following the termination of the Period of Employment pursuant to Section 4(d) or 4(e) hereof. (iii) Company shall be entitled to a credit for any amounts paid pursuant to Part One, Paragraph 1 of the Change of Control Agreement for any amounts payable pursuant to Paragraph (i)(A) and (i)(B) above as part of any Severance Benefits payable hereunder. (iv) Except as provided in Section 6 below, the Severance Benefits shall be received by Employee in lieu of any other right Employee may have under applicable law, Company or Parent policies or plans or otherwise with respect to any payments or compensation in connection with the termination of Employee's employment with Company. (v) Employee agrees that payment of the Severance Benefits may, in the discretion of the Company, be subject to the prior execution by the Employee of a release of claims in a form provided by the Company prior to any such payment and that payment of the Severance Benefits shall be consideration for such release. (g)

  • Cash Severance Benefits Severance equal to the amount set forth in the Participant’s Participation Agreement and payable in cash in a lump sum in accordance with the terms and conditions of this Plan, including without limitation Section 7 hereof.

  • Severance Payments; Salary and Benefits The Company agrees to provide Executive with the severance payments and benefits described in Section 4(b) [and Section 4(c)] of the Employment Agreement, payable at the times set forth in, and subject to the terms and conditions of, the Employment Agreement. In addition, to the extent not already paid, and subject to the terms and conditions of the Employment Agreement, the Company shall pay or provide to Executive all other payments or benefits described in Section 3(c) of the Employment Agreement, subject to and in accordance with the terms thereof.

  • Severance Benefit If the Employee’s employment is terminated by the Company for any reason other than Cause (as defined below) or if the Employee terminates his/her employment for Good Reason (as defined below), the Company shall provide Employee with the following:

  • Severance Pay In the event that your employment is terminated by the Company, except for “Cause” as defined below, you will be eligible to receive the following:

  • Change in Control Benefits Agreement shall mean any separate agreement between Participant and the Corporation which provides Participant with special vesting acceleration and/or other special benefits with respect to one or more awards of restricted stock units made to Participant for shares of Common Stock, including (to the extent applicable) the restricted stock units evidenced by this Agreement, in the event of a change in control or ownership of the Corporation (whether or not constituting a Change in Control hereunder).

  • Employment Benefits In addition to the Salary payable to the Executive hereunder, the Executive shall be entitled to the following benefits:

  • 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.

  • Termination of Employment with Severance Benefits (a) The Executive shall be entitled to the severance benefits described in section 9(b) in the event that:

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!