Severance Reimbursement Sample Clauses

Severance Reimbursement. In connection with this transaction, Louisiana-Pacific shall amend its Facility Closure Policy (or, at its option, shall establish a new facility closure or similar policy) to extend application of its terms to Hired Employees who are terminated by Buyer within 120 days after Closing for reasons other than good cause. Buyer shall reimburse Louisiana-Pacific for 50% of any sums, within 15 days of notification to Buyer, paid by Louisiana-Pacific greater than $250,000 and less than $1,350,000 for severance payments or benefit continuation for retiree health, retiree life and Accidental Death and Dismemberment benefits ("Benefit Continuation") under Louisiana-Pacific's Facility Closure Policy to Business Employees arising as a result of the termination of such Business Employees' employment with Louisiana-Pacific in connection with the transaction contemplated by this Agreement, or with Buyer during the 120-day period following the Closing; and 100% of any sums paid by Louisiana-Pacific in excess of $1,350,000 for severance payments or Benefit Continuation under Louisiana-Pacific's Facility Closure Policy to Business Employees arising as a result of the termination of such Business Employees' employment with Louisiana-Pacific in connection with the transaction contemplated by this Agreement, or with Buyer during the 120-day period following the Closing; provided, that the total maximum amount that Buyer is obligated under this Agreement to reimburse Louisiana-Pacific for sums paid by Louisiana-Pacific for retiree health benefit continuation is $65,000 in the aggregate.
Sample 1
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Severance Reimbursement. Upon demand, and provided Purchaser furnishes to Vendor reasonable information evidencing such payments, Vendor will reimburse Purchaser the cost of severance Purchaser pays to (i) any Employee who, as of the Closing, is on short-term disability and (ii) any employee of the Business, who was on long-term disability as of the Closing and who by operation of law or the Collective Agreements, returns to work with the Business after the Closing.
Sample 1
Severance Reimbursement. Buyer shall, within ten (10) Business Days after Seller’s request therefor, reimburse Seller for severance payments made by Seller or its Affiliates to Asia-based employees terminated by Seller who are subsequently hired by Buyer. Buyer shall be required to make such reimbursement payment if and only if Buyer is notified of such payment and the amount thereof prior to January 15, 2009. Notwithstanding the foregoing, in relation to any such employees not terminated by Seller prior to January 1, 2009, Seller shall provide an estimate of such reimbursable amount by January 15, 2009 and shall notify Buyer of the final amount thereof within thirty (30) days after the date on which such employees are terminated by Seller.
Sample 1
Severance Reimbursement. Schedule 4.7.4 sets forth the severance obligation which Seller will have at Closing to each of the Non-Transferred Employees. At Closing, Buyer shall pay Seller the amount set forth in Schedule 4.7.4 (the "Severance Amount"). Seller shall promptly pay such amounts to the Non-Transferred Employees.
Sample 1
Severance Reimbursement. On the Closing Date, Buyer shall reimburse Seller for its severance obligations paid to Employees (defined below), not to exceed $100,000 in the aggregate. Not less than five (5) business days prior to the Closing Date, Seller shall deliver to Buyer an itemized report of such severance obligations. Such reimbursement shall be made as a positive adjustment to the Purchase Price.
Sample 1
Severance Reimbursement. If any Employee declines an offer of employment from Purchaser, such that Seller or any of its Affiliates is required to provide such Transferred Employee severance benefits in accordance with Schedule 7.1(c), and within 12 months following the Closing Date, Purchaser or any of its Affiliates hires such Employee, Purchaser will pay to Seller an amount equal to the severance benefits provided to such Transferred Employee by Seller or any of its Affiliates.
Sample 1

Related to Severance Reimbursement

  • Business Expense Reimbursement During the Term of employment, the Executive shall be entitled to receive proper reimbursement for all reasonable, out-of-pocket expenses incurred by the Executive (in accordance with the policies and procedures established by the Company for its senior executive officers) in performing services hereunder, provided the Executive properly accounts therefore.

  • Expense Reimbursement The Executive shall be entitled to receive reimbursement for all appropriate business expenses incurred by him in connection with his duties under this Agreement in accordance with the policies of the Company as in effect from time to time.

  • Business Expense Reimbursements During the Term, the Company shall promptly reimburse Executive for Executive’s reasonable and necessary business expenses in accordance with the Company’s then-prevailing policies and procedures for expense reimbursement (which shall include appropriate itemization and substantiation of expenses incurred).

  • Expense Reimbursements To the extent that any reimbursements payable pursuant to this Agreement are subject to the provisions of Section 409A of the Code, any such reimbursements payable to Executive pursuant to this Agreement shall be paid to Executive no later than December 31 of the year following the year in which the expense was incurred, the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year, and Executive’s right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit.

  • Severance Allowance In the event of a Control Termination of this Agreement, Executive may elect, within 60 days after such Control Termination, to be paid a lump sum severance allowance, in lieu of the termination payments provided for in Section 11 above, in an amount which is equal to the sum of the amounts determined in accordance with the following clauses (a) and (b):

  • Compensation; Reimbursement At the closing of each Offering (each, a “Closing”), the Company shall compensate Xxxxxxxxxx as follows:

  • Compensation Benefits and Reimbursement (a) The compensation specified under this Agreement shall constitute the salary and benefits paid for the duties described in Section 2(b). The Association shall pay Executive as compensation a salary of not less than $_____________ per year ("Base Salary"). Such Base Salary shall be payable biweekly, or with such other frequency as officers and employees are generally paid. During the period of this Agreement, Executive's Base Salary shall be reviewed at least annually. Such review may be conducted by a Committee designated by the Board, and the Board may increase, but not decrease (except a decrease that is generally applicable to all employees), Executive's Base Salary (any increase in Base Salary shall become the "Base Salary" for purposes of this Agreement). In addition to the Base Salary provided in this Section 3(a), the Association shall provide Executive at no cost to Executive with all such other benefits as are provided uniformly to permanent full-time employees of the Association. Base Salary shall include any amounts of compensation deferred by Executive under qualified and nonqualified plans maintained by the Association.

  • Compensation and Expense Reimbursement A. Client will pay the Company, as compensation for the services provided for in this Agreement and as reimbursement for expenses incurred by Company on Client's behalf, in the manner set forth in Schedule A annexed to this Agreement which Schedule is incorporated herein by reference.

  • Voluntary Fee Waiver/Expense Reimbursement Nothing herein shall preclude an Adviser from contractually waiving other fees and/or reimbursing expenses of any Fund, voluntarily waiving Advisory Fees it is entitled to from any Fund or voluntarily reimbursing expenses of any Fund as the Adviser, in its discretion, deems reasonable or appropriate. Any such voluntary waiver or voluntary expense reimbursement may be modified or terminated by the Adviser at any time in its sole and absolute discretion without the approval of the Fund’s Board of Trustees or Board of Directors, as the case may be.

  • Relocation Reimbursement In the event the Company changes the principal place of business at which the Executive performs his duties to a location that is outside of a 50 mile radius of Jenkintown, Pennsylvania, the Company shall reimburse the Executive for all reasonable relocation expenses, including but not limited to, temporary housing for the Executive and his family.

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