Special Severance Payment. You will be eligible during the first ninety (90) calendar days of your employment with the Company (with employment commencing on the Closing) (the “Special Severance Period”) for a Special Severance Payment, payable only in the event that the Company terminates your employment during the Special Severance Period without “Cause” (as defined below) and not on account of your death, “Disability” (as defined below) or for Cause. If, during the Special Severance Period, the Company terminates your employment for any reason other than Cause, death or Disability, and provided you execute a waiver and release agreement releasing any and all potential claims you may have against the Company at the time of termination, you will be entitled to receive, as your sole and exclusive remedy (i) an amount equal to twelve (12) months of your Base Salary then in effect at the time notice of termination is provided to you or $135,000 whichever is greater, paid in accordance with the Company’s normal payroll practices and subject to normal tax withholdings, and (ii) reimbursement of twelve (12) months of COBRA premiums for your and your family, paid in accordance with the Company’s normal reimbursement procedures (the “Special Severance Payment”). The Special Severance Payment shall be in addition to any earned but unpaid Base Salary, bonuses and incentive compensation through the date of termination, as well as any accrued but unused vacation and vested benefits to which you may be entitled in accordance with the terms of any applicable Employee Benefit plan. If, during the Special Severance Period, your employment is terminated by the Company for Cause, on account of your death or Disability or in the case that you voluntarily resign your employment with the Company for any reason, you (or your estate, conservator or designated beneficiary, as the case may be) shall only be entitled to receive payment of any earned but unpaid Base Salary, bonuses and incentive compensation through the date of termination, as well as any accrued but unused vacation and vested benefits to which you are entitled in accordance with the terms of any applicable Employee Benefit plan.
Special Severance Payment a.If, subsequent to a Change in Control, as hereinafter defined, Cardin's Circumstances of Employment, as hereinafter defined, shall have changed, Cardin shall have the right to terminate his employment pursuant to this Agreement by written notice to the Company specifying the event relied on for such termination.
Special Severance Payment. If your employment terminates on or after December 1, 2022, you will also be eligible to receive a one-time cash payment in the gross amount of $1,808,750, which is equal to 25% of the incentive compensation award you received for the 2021 performance year (the “Special Severance Payment”). 3.
Special Severance Payment. If your employment by the Company is terminated for any reason other than by the Company with Cause, you will receive the following payment and benefits as described more fully in paragraph 4 of your Letter Agreement,:
Special Severance Payment. The Company will provide you with a special lump sum severance payment in the amount of «Gross_Severance_Written» ($«Gross_Severance__dollar_amount»), which represents «weeks_of_Severance_Written» («weeks_of_Severance_Number») weeks of your base salary subject to your agreement and continued compliance with the terms of this letter agreement. As an additional component of this agreement, a total of «Stock_Written» («Stock_») shares of restricted stock grants, as outlined in Attachment (A) shall be deemed to be 100% vested upon the Termination Date. Such shares of restricted stock shall be valued for your tax purposes at the closing price of Chesapeake Energy Corporation (“CHK”) common stock on the New York Stock Exchange on the Termination Date. The lump sum severance payment will be made seven (7) days after you execute this agreement and the accompanying release. The payment will be subject to all applicable federal and state withholdings. The payment will not otherwise be “benefit bearing” and will not be considered as compensation for purposes of the Company’s qualified 401(k) and profit sharing plans or for accrual of paid time off or other leaves.
Special Severance Payment. (a) Upon the earlier of the Calnev Closing and the date of the consummation of the Asset Division, Purchaser shall pay to Seller an additional amount equal to the product of (x) 600 minus the number of Terminals Employees and Calnev Employees who are Terminals Continuing Employees or Calnev Continuing Employees, respectively, as of such date and (y) the average severance payment made to all Terminals Employees and Calnev Employees other than severance payments to Terminals Employees or Calnev Employees based in Chicago.
Special Severance Payment. We desire to have a smooth transition of your duties to a new vice president, regulatory affairs and quality assurance. Therefore, in lieu of any severance compensation payable under the Employment Agreement and conditioned upon you fulfilling your obligations under this agreement, MedCV will pay you Twenty Thousand Dollars ($20,000) on the Termination Date and MedCV will issue you a fully vested non-qualified stock option in the form used with executive officers of MedCV under the 2001 Equity Incentive Plan for the purchase of Five Thousand Seven Hundred Thirty-Four (5,734) shares of common stock on the Termination Date. Such option will have a per share exercise price equal to the closing price of one share of MedCV common stock on the business day immediately prior to the Termination Date and will expire on the date that is six months after the Termination Date. If required by any underwriter or agent in connection with the sale of our securities prior to July 1, 2008, you agree to abide by and enter into any form of share lock-up agreement that is entered into by any other executive officer of MedCV.
Special Severance Payment. The Employee shall be entitled to receive a severance payment from the Company (the "Special Severance Payment") if, during the term of this Agreement and within the first 12-month period after the occurrence of a Change in Control becomes effective, either:
Special Severance Payment. Notwithstanding anything to the contrary in your Compensation Agreement Letter, you will only be entitled to receive the benefits described in paragraph 4 thereof if you execute and deliver (and do not revoke) a release agreement in the form set forth in paragraph 2(p) of your Severance Agreement (as such term is defined in your Compensation Agreement Letter) promptly but not later than fifty (50) days following your termination. Except to the extent the specified employee provisions in Section 5 apply, any special severance payment shall be made on the sixtieth (60th) day following your separation from service.
Special Severance Payment. Executive will receive a single lump-sum special severance payment in the amount of $240,000.00;
