Common use of Severance Plan Clause in Contracts

Severance Plan. If the Employment Period is terminated, Executive shall receive the severance payments and benefits to which Executive is entitled pursuant to the Severance Plan (as defined below). Executive represents and certifies that Executive has carefully reviewed this Agreement and the Company's 2003 Severance and Change of Control Plan (the "Severance Plan"), a copy of which is attached as Exhibit A hereto and is entering into this Agreement in reliance upon the terms thereof. For purposes of Section 4(a) of the Severance Plan, "Payout Period" will be 1.88 and "Severance Multiple" will be 1.88, and for purposes of Section 4(b) of the Severance Plan, "Change of Control Multiple" will be 1.88.

Appears in 4 contracts

Samples: Employment Agreement and Restricted Stock Grant (Deeter Foundry Inc), Employment Agreement and Restricted Stock Grant (Deeter Foundry Inc), Employment Agreement and Restricted Stock Grant (Deeter Foundry Inc)

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Severance Plan. If the Employment Period is terminated, Executive shall receive the severance payments and benefits to which Executive is entitled pursuant to the Severance Plan (as defined below). Executive represents and certifies that Executive has carefully reviewed this Agreement and the Company's 2003 Severance and Change of Control Plan (the "Severance Plan"), a copy of which is attached as Exhibit A hereto and is entering into this Agreement in reliance upon the terms thereof. For purposes of Section 4(a) of the Severance Plan, "Payout Period" will be 1.88 2.03 and "Severance Multiple" will be 1.882.03, and for purposes of Section 4(b) of the Severance Plan, "Change of Control Multiple" will be 1.882.03.

Appears in 2 contracts

Samples: Employment Agreement and Restricted Stock Grant (Deeter Foundry Inc), Employment Agreement and Restricted Stock Grant (Deeter Foundry Inc)

Severance Plan. If the Employment Period is terminated, Executive shall receive the severance payments and benefits to which Executive is entitled pursuant to the Severance Plan (as defined below). Executive represents and certifies that Executive has carefully reviewed this Agreement and the Company's 2003 Severance and Change of Control Plan (the "Severance Plan"), a copy of which is attached as Exhibit A hereto and is entering into this Agreement in reliance upon the terms thereof. For purposes of Section 4(a) of the Severance Plan, "Payout Period" will be 1.88 1.95 and "Severance Multiple" will be 1.881.95, and for purposes of Section 4(b) of the Severance Plan, "Change of Control Multiple" will be 1.881.95.

Appears in 1 contract

Samples: Employment Agreement and Restricted Stock Grant (Deeter Foundry Inc)

Severance Plan. If the Employment Period is terminated, Executive shall receive the severance payments and benefits to which Executive is entitled pursuant to the Severance Plan (as defined below). Executive represents and certifies that Executive has carefully reviewed this Agreement and the Company's 2003 Severance and Change of Control Plan (the "Severance Plan"), a copy of which is attached as Exhibit A hereto and is entering into this Agreement in reliance upon the terms thereof. For purposes of Section 4(a) of the Severance Plan, "Payout Period" will be 1.88 2.03 and "Severance Multiple" will be 1.882.03, and for purposes of Section 4(b) of the Severance Plan, "Change of Control Multiple" will be 1.882.70.

Appears in 1 contract

Samples: Employment Agreement and Restricted Stock Grant (Deeter Foundry Inc)

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Severance Plan. If the Employment Period is terminated, Executive shall receive the severance payments and benefits to which Executive is entitled pursuant to the Severance Plan (as defined below). Executive represents and certifies that Executive has carefully reviewed this Agreement and the Company's 2003 Severance and Change of Control Plan (the "Severance Plan"), a copy of which is attached as Exhibit A hereto and is entering into this Agreement in reliance upon the terms thereof. For purposes of Section 4(a) of the Severance Plan, "Payout Period" will be 1.88 2.70 and "Severance Multiple" will be 1.882.70, and for purposes of Section 4(b) of the Severance Plan, "Change of Control Multiple" will be 1.883.38.

Appears in 1 contract

Samples: Employment Agreement and Restricted Stock Grant (Deeter Foundry Inc)

Severance Plan. If the Employment Period is terminated, Executive shall receive the severance payments and benefits to which Executive is entitled pursuant to the Severance Plan (as defined below). Executive represents and certifies that Executive has carefully reviewed this Agreement and the Company's ’s 2003 Severance and Change of Control Plan Plan, as amended (the "Severance Plan"), a copy of which is attached as Exhibit A hereto and is entering into this Agreement in reliance upon the terms thereof. For purposes of Section 4(a) of the Severance Plan, "Payout Period" will be 1.88 2.0 years and "Severance Multiple" will be 1.882.0, and for purposes of Section 4(b) of the Severance Plan, "Change of Control Multiple" will be 1.883.0.

Appears in 1 contract

Samples: Employment Agreement and Restricted Stock Grant (Neenah Foundry Co)

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