Common use of Termination of Employees Clause in Contracts

Termination of Employees. Employment (Not in Connection with a Change of Control or Retirement Termination of Employment). In the event of a Termination of Employee’s Employment and contingent upon the Employee’s execution of the Release of Claims without revocation within the time period described in Section 2 above and in compliance with Section 8 and Section 9 of this Agreement, Employee shall be entitled to the following benefits: (a) an amount equal to (i) twelve (12) months of Employee’s annual base pay at the rate in effect immediately prior to the date of Termination of Employee’s Employment plus (ii) 100% of the target annual incentive for the performance period during which Employee’s employment was terminated, which incentive payment would have been awarded to Employee under the Xxxxx of Xxxx Limited 2011 Annual Incentive Plan and any successor annual incentive plan or arrangement in which executive officers and employees of Xxxxx of Xxxx Limited, a Bermuda company (“Xxxxx of Xxxx”), and its subsidiaries are eligible to participate (as amended, restated or modified from time to time, the “Annual Incentive Plan”); (b) an amount equal to the pro rata portion (as defined below) of the annual incentive payable under the Annual Incentive Plan for the performance period during which Employee’s employment was terminated had Employee’s employment not been terminated, based upon the actual performance of Xxxxx of Xxxx at the end of such performance period and payable at the same time that such payment would be made during Employee’s regular employment with the Company. For purposes of this Section 3.1(b), the term “pro rata portion” shall mean a percentage, when expressed as a fraction, the numerator of which

Termination of Employees. Employment (Not in Connection with a Change of Control or Retirement Termination of Employment). In the event of a Termination of Employee’s 's Employment and contingent upon the Employee’s 's execution of the Release of Claims without revocation within the time period described in Section 2 above and in compliance with Section 8 and Section 9 of this Agreement, Employee shall be entitled to the following benefits: (a) an amount equal to (i) twelve (12) months of Employee’s 's annual base pay at the rate in effect immediately prior to the date of Termination of Employee’s 's Employment plus (ii) 100% of the target annual incentive for the performance period during which Employee’s 's employment was terminated, which incentive payment would have been awarded to Employee under the Xxxxx of Xxxx Limited 2011 Annual Incentive Plan and any successor annual incentive plan or arrangement in which executive officers and employees of Xxxxx of Xxxx Limited, a Bermuda company (“"Xxxxx of Xxxx”"), and its subsidiaries are eligible to participate (as amended, restated or modified from time to time, the “"Annual Incentive I ocentive Plan”"); (b) an amount equal to the pro rata portion (as defined below) of the annual incentive payable under the Annual Incentive Plan for the performance period during which Employee’s 's employment was terminated had Employee’s 's employment not been terminated, based upon the actual performance of Xxxxx of Xxxx at the end of such performance period and payable at the same time that such payment would be made during Employee’s 's regular employment with the Company. For purposes of this Section 3.1(b3.l(b), the term “"pro rata portion” " shall mean a percentage, when expressed as a fraction, the numerator of whichwhich Exhibit 10.1

Termination of Employees. Employment (Not in Connection with a Change of Control or Retirement Termination of Employment). In the event of a Termination of Employee’s Employment and contingent upon the Employee’s execution of the Release of Claims without revocation within the time period described in Section 2 above and in compliance with Section 8 and Section 9 of this Agreement, Employee shall be entitled to the following benefits: (a) an amount equal to (i) twelve (12) months of Employee’s annual base pay at the rate in effect immediately prior to the date of Termination of Employee’s Employment plus (ii) 100% of the target annual incentive for the performance period during which Employee’s employment was terminated, which incentive payment would have been awarded to Employee under the Xxxxx of Xxxx Limited 2011 Annual Incentive Plan and any successor annual incentive plan or arrangement in which executive officers and employees of Xxxxx of Xxxx Limited, a Bermuda company (“Xxxxx of Xxxx”), and its subsidiaries are eligible to participate (as amended, restated or modified from time to time, the “Annual Incentive Plan”); (b) an amount equal to the pro rata portion (as defined below) of the annual incentive payable under the Annual Incentive Plan for the performance period during which Employee’s employment was terminated had Employee’s employment not been terminated, based upon the actual performance of Xxxxx of Xxxx at the end of such performance period and payable at the same time that such payment would be made during Employee’s regular employment with the Company. For purposes of this Section 3.1(b), the term “pro rata portion” shall mean a percentage, when expressed as a fraction, the numerator of whichwould

Termination of Employees. Employment (Not in Connection with a Change of Control or Retirement Termination of Employment). In the event of a Termination of Employee’s Employment and contingent upon the Employee’s execution of the Release of Claims without revocation within the time period described in Section 2 above and in compliance with Section 8 and Section 9 of this Agreement, Employee shall be entitled to the following benefits: (a) an amount equal to (i) twelve (12) months of Employee’s annual base pay at the rate in effect immediately prior to the date of Termination of Employee’s Employment plus (ii) 100% of the target annual incentive for the performance period during which Employee’s employment was terminated, which incentive payment would have been awarded to Employee under the Xxxxx of Xxxx Limited 2011 Annual Incentive Plan and any successor annual incentive plan or arrangement in which executive officers and employees of Xxxxx of Xxxx Limited, a Bermuda company (“Xxxxx of Xxxx”), and its subsidiaries are eligible to participate (as amended, restated or modified from time to time, the “Annual Incentive Plan”); (b) an amount equal to the pro rata portion (as defined below) of the annual incentive payable under the Annual Incentive Plan for the performance period during which Employee’s employment was terminated had Employee’s employment not been terminated, based upon the actual performance of Xxxxx of Xxxx at the end of such performance period and payable at the same time that such payment would be made during Employee’s regular employment with the Company. For purposes of this Section 3.1(b), the term “pro rata portion” shall mean a percentage, when expressed as a fraction, the numerator of whichwhich Exhibit 10.1

Termination of Employees. Employment (Not in Connection with a Change of Control or Retirement Termination of Employment). In the event of a Termination of Employee’s Employment and contingent upon the Employee’s execution of the Release of Claims without revocation within the time period described in Section 2 above and in compliance with Section 8 and Section 9 of this Agreement, Employee shall be entitled to the following benefits: (a) an amount equal to (i) twelve (12) months of Employee’s annual base pay at the rate in effect immediately prior to the date of Termination of Employee’s Employment plus (ii) 100% of the target annual incentive for the performance period during which Employee’s employment was terminated, which incentive payment would have been awarded to Employee under the Xxxxx of Xxxx Limited 2011 Annual Incentive Plan and any successor annual incentive plan or arrangement in which executive officers and employees of Xxxxx of Xxxx Limited, a Bermuda company (“Xxxxx of Xxxx”), and its subsidiaries are eligible to participate (as amended, restated or modified from time to time, the “Annual Incentive Plan”); (b) an amount equal to the pro rata portion (as defined below) of the annual incentive payable under the Annual Incentive Plan for the performance period during which Employee’s employment was terminated had Employee’s employment not been terminated, based upon the actual performance of Xxxxx of Xxxx at the end of such performance period and payable at the same time that such payment would be made during Employee’s regular employment with the Company. For purposes of this Section 3.1(b), the term “pro rata portion” shall mean a percentage, when expressed as a fraction, the numerator of whichwhich Exhibit 10.8