Termination Due to a Qualifying Event Sample Clauses

Termination Due to a Qualifying Event. If the Executive’s employment with NWL is terminated as the result of an event described in Section 3(a) above, the Executive shall be entitled to receive the following payments and benefits from NWL: (1) NWL shall pay the Executive in a single sum in cash, within ten business days after his termination date, the aggregate of the following amounts: (A) the sum of the Executive’s currently effective annual base salary through the termination date and any accrued vacation pay; and (B) an amount equal to one times the sum of the Executive’s annual base salary plus one times his target bonus; and
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Termination Due to a Qualifying Event. If the Executive’s employment with NWL is terminated as the result of an event described in Section 3(a) above, the Executive shall be entitled to receive the following payments and benefits from NWL: (1) NWL shall pay the Executive in a single sum in cash, within ten business days after his termination date, the aggregate of the following amounts: (A) the sum of the Executive’s currently effective annual base salary through the termination date and any accrued vacation pay; and (B) an amount equal to three times the sum of the Executive’s annual base salary plus his target bonus; and (2) NWL shall, at its sole expense as incurred, reimburse the Executive up to $50,000 for expenses and costs related to outplacement services, the provider of which shall be selected by the Executive in his sole discretion; and (3) NWL shall continue to provide the Executive with use of the Executive’s company car for one year following the termination date; and (4) NWL shall pay or reimburse the Executive, up to $75,000, for legal fees and expenses incurred as a result of any dispute resolution process entered into by the Executive to enforce this Agreement.
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Termination Due to a Qualifying Event. If the Executive's employment with the Company is terminated as the result of an event described in Section 3(a) above, the Executive shall be entitled to receive the following payments and benefits from the Company: (1) the Company shall pay the Executive in a single sum in cash, within five business days after his or her termination date, the aggregate of the following amounts: (A) the sum of the Executive's currently effective annual base salary through the termination date and any accrued vacation pay; (B) an amount equal to ______ times the sum of the Executive's annual base salary plus his or her target bonus. (2) the Company shall continue, for a period of 36 months from the termination date, health insurance coverage for the Executive and the Executive's eligible family members and life insurance coverage for the Executive, in both cases at least equal to the coverage that would have been provided to such person(s) under the Company's health and life insurance plans if the Executive's employment had not been terminated; (3) the Company shall, at its sole expense as incurred, reimburse the Executive up to $50,000 for expenses and costs related to outplacement services, the provider of which shall be selected by the Executive in his or her sole discretion; (4) the Company shall continue to provide the Executive with use of the Executive's company car (if any) for one year following the termination date; and (5) the Company shall pay or reimburse the Executive for legal fees and expenses incurred as a result of any dispute resolution process entered into by the Executive to enforce this Agreement.
Sample 1
Termination Due to a Qualifying Event. If the Executive’s employment with the Company is terminated as the result of an event described in Section 3(a), the Executive shall be entitled to receive the following payments and benefits from the Company: (1) the Company shall pay the Executive the following amounts in cash, with 50% of the aggregate amount payable within five business days after his or her termination date, and the balance payable on the first business day of the calendar year next following the date of such first payment: (A) the sum of the Executive’s currently effective annual base salary through the termination date (for work performed but for which the Executive has not yet been paid), together with an amount equal to the value of the Executive’s accrued vacation; plus (B) an amount equal to ______ times the greater of (i) the sum of the Executive’s annual base salary plus his or her target bonus, each for the year in which the Change in Control occurs; or (ii) the sum of the Executive’s annual base salary plus his or her target bonus, each for the year in which his or her employment with the Company is terminated: (2) the Company shall continue, at its sole expense, for a period of 36 months from the termination date, health insurance coverage for the Executive and the Executive’s eligible family members and life insurance coverage for the Executive, in both cases at least equal to the coverage that had been provided and/or elected by the Executive for such person(s) under the Company’s health and life insurance plans as of the date of the Change in Control; the Executive and his eligible family members shall be entitled to continued coverage under the Company’s health insurance plan pursuant to the “COBRA” provisions in Part 6 of Subtitle B of Title I of the Employee Retirement Income Security Act of 1974, as amended, beginning after the end of such 36-month period; (3) the Company shall, at its sole expense as incurred, reimburse the Executive up to $50,000 for expenses and costs related to outplacement services, the provider of which shall be selected by the Executive in his or her sole discretion; (4) the Company shall continue to provide the Executive with use of the Executive’s company car (if any) and/or with any applicable car allowance, in each case for one year following the termination date; the Company shall also pay the Executive the gross-up amount necessary to offset any and all applicable federal, state, and local excise, income, employment, or other taxes incu...
Sample 1
Termination Due to a Qualifying Event. Qualifying events are reasons a student may cancel and be released from this agreement without being subject to paying for the full value of the housing agreement. Students who cancel due to the following qualifying events will be charged the daily rate through their date of check out until September 6, 2019 and after that based on the pro-rated schedule; they will not be charged for early termination. Cancellations for these reasons require approved supporting documentation from the appropriate Rice officials. a. Medical Withdrawal from the University b. University study abroad program (30-day notice required) c. Leave of Absence for Medical d. Student becomes a parent (30-day notice required) e. Irreconcilable difference with roommate(s) (30 day notice required plus written recommendation from College Magister
Sample 1
Termination Due to a Qualifying Event. If the Executive’s employment with NWL is terminated as the result of an event described in Section 3(a) above, the Executive shall be entitled to receive the following payments and benefits from NWL: (1) NWL shall pay the Executive in a single sum in cash, within ten business days after his termination date, the aggregate of the following amounts: (A) the sum of the Executive’s currently effective annual base salary through the termination date and any accrued vacation pay; and (B) an amount equal to two times the sum of the Executive’s annual base salary plus his target bonus; and (2) NWL shall, at its sole expense as incurred, reimburse the Executive up to $50,000 for expenses and costs related to outplacement services, the provider of which shall be selected by the Executive in his sole discretion; and (3) NWL shall continue to provide the Executive with use of the Executive’s company car for one year following the termination date; and (4) NWL shall pay or reimburse the Executive, up to $75,000, for legal fees and expenses incurred as a result of any dispute resolution process entered into by the Executive to enforce this Agreement. Notwithstanding any provision herein to the contrary, the Executive may, in whole or in part, (i) waive the Executive’s rights to receive any payments or benefits the Executive may be entitled to receive under this Agreement for any reason, and (ii) enter into alternative arrangements with NWL with respect to the Executive’s right to receive the benefit described in clause (3) above, it being understood that in lieu of the continued use of the company car described therein, the Executive shall be permitted to elect to purchase such company car for its fair market value (as such fair market value is determined and agreed upon by the parties at the time of such purchase).
Sample 1

Related to Termination Due to a Qualifying Event

  • Termination Due to Retirement Subject to Section 7 below, in the event of Termination due to Retirement, then (regardless of any subsequent death of the Employee) the Option will continue to vest pursuant to Section 3, and the last date on which the Option may be exercised is the day prior to the Expiration Date.

  • Involuntary Termination in Connection with a Change in Control Notwithstanding anything contained herein, in the event of an Involuntary Termination prior to a Change in Control, if the Involuntary Termination (1) was at the request of a third party who has taken steps reasonably calculated to effect such Change in Control or (2) otherwise arose in connection with or in anticipation of such Change in Control, then the Executive shall, in lieu of the payments described in Section 4 hereof, be entitled to the Post-Change in Control Severance Payment and the additional benefits described in this Section 5 as if such Involuntary Termination had occurred within two (2) years following the Change in Control. The amounts specified in Section 5 that are to be paid under this Section 5(h) shall be reduced by any amount previously paid under Section 4. The amounts to be paid under this Section 5(h) shall be paid within sixty (60) days after the Change in Control Date of such Change in Control.

  • Termination After a Change in Control You will receive Severance Benefits under this Agreement if, during the Term of this Agreement and after a Change in Control has occurred, your employment is terminated by the Company without Cause (other than on account of your Disability or death) or you resign for Good Reason.

  • Termination Due to Death or Disability The expiration of one (1) year from the date of the death of the Optionee or cessation of an Optionee’s employment or contractual relationship by reason of disability (as defined in Section 5.1(g) of the Plan). If an Optionee’s employment or contractual relationship is terminated by death, any Option held by the Optionee shall be exercisable only by the person or persons to whom such Optionee’s rights under such Option shall pass by the Optionee’s will or by the laws of descent and distribution.

  • Termination Due to Death, Disability or Retirement In the event the Optionee’s employment or other service with the Company and all Subsidiaries is terminated by reason of death, Disability or Retirement, this Option will remain exercisable, to the extent exercisable as of the date of such termination, for a period of one year after such termination (but in no event after the Time of Termination).

  • Termination Due to Death If the Optionee’s employment terminates by reason of the Optionee’s death, any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of death, may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12 months from the date of death or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of death shall terminate immediately and be of no further force or effect.

  • Qualifying Termination If, prior to Executive’s attainment of age 65, Executive’s employment is involuntarily terminated by the Company without Cause (and other than due to his Disability) or is voluntarily terminated by Executive for Good Reason, in either case only during the period commencing on the occurrence of a Change in Control of the Company and ending on the second anniversary of date of the Change in Control (“Protection Period”), then the Company shall pay or provide Executive with: (i) Executive’s Accrued Obligations, payable in accordance with Section 8(a)(i); (ii) Any unpaid annual cash incentive award earned with respect to any fiscal year ending on or preceding the date of termination, payable when awards are paid generally to senior executives for such year; (iii) A pro-rated annual cash incentive for the fiscal year in which such termination occurs, the amount of which shall be based on target performance and a fraction, the numerator of which is the number of days elapsed during the performance year through the date of termination and the denominator of which is 365, which pro-rated annual cash incentive award shall be paid when awards are paid generally to senior executives for such year; (iv) A lump sum severance payment in the aggregate amount equal to the product of (A) the sum of (1) Executive’s highest Base Salary during the Protection Period plus (2) his annual target annual cash incentive award multiplied by (B) two (2); provided, unless the Change of Control occurring on or preceding such termination also meets the requirements of Section 409A(a)(2)(A)(v) and Treasury Regulation Section 1.409A-3(i)(5) (or any successor provision) thereunder (a “409A Change in Control”), the amount payable to Executive under this subparagraph (iv) shall be paid to Executive in equal semi-monthly payroll installments over a period of twenty-four (24) months, not in a lump sum, to the extent necessary to avoid the application of Section 409A(a)(1)(A) and (B); (v) Subject to Executive’s continued co-payment of premiums, continued participation for two (2) years in the Company’s medical benefits plan which covers Executive and his eligible dependents upon the same terms and conditions (except for the requirements of Executive’s continued employment) in effect for active employees of the Company. In the event Executive obtains other employment that offers substantially similar or more favorable medical benefits, such continuation of coverage by the Company under this subsection shall immediately cease. The continuation of health benefits under this subsection shall reduce the period of coverage and count against Executive’s right to healthcare continuation benefits under COBRA; and (vi) Payments falling under Section 10(b)iv shall, if to be paid in a lump sum pursuant to such section, be paid within ten (10) business days after the Executive’s termination of employment. Provided, to the extent applicable under Section 409A as a “deferral of compensation,” and not as a “short-term deferral” under Treasury Regulation Section 1.409A-1(b)(4), the payments and benefits payable to Executive under this Section 10(b) shall be subject to the Safe Harbor and Postponement provided at Section 8(c)(iv).

  • Termination Due to Disability If the Optionee’s employment terminates by reason of the Optionee’s disability (as determined by the Administrator), any portion of this Stock Option outstanding on such date shall become fully exercisable and may thereafter be exercised by the Optionee for a period of 12 months from the date of termination or until the Expiration Date, if earlier.

  • Terminating Event A “Terminating Event” shall mean any of the events provided in this Section 3:

  • Termination Upon a Change in Control If Executive’s employment with the Employer is subject to a Termination within a Covered Period, then, in addition to Minimum Benefits, the Employer shall provide Executive the following benefits: (i) On the sixtieth (60th) day following the Termination Date, the Employer shall pay Executive a lump sum payment in an amount equal to the Severance Amount. (ii) Executive (and Executive’s dependents, as may be applicable) shall be entitled to the benefits provided in Section 4(e).

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