Termination of Employment Benefits. (a) You agree and acknowledge that your participation in Boston Scientific's 401(k) Plan, Stock Option Plan(s), and Global Employee Stock Ownership Plan, if any, Accidental Death and Dismemberment (AD&D), Business Travel Accident, Life Insurance, Short-Term and Long-Term Disability Plans will terminate as of your Resignation Date, as will your accrual of vacation time. You further agree and acknowledge that You will participate through the Resignation Date in all other benefits and benefit plans in which You are currently enrolled to the same extent as do active employees and that your participation in and entitlement to any and all other benefits and benefits plans in which You are currently enrolled, but which are not otherwise specifically addressed in this Agreement, terminate on the Resignation Date.
(b) Because you will as of your Resignation Date have met the definition of Retirement with respect your stock options that are currently unvested, those options will vest as of your Resignation Date and become exercisable in accordance with the terms and conditions in the applicable option agreement(s) and plan document(s). Prior to your Resignation Date, Boston Scientific shall seek the approval of the Compensation Committee of the Boston Scientific Board of Directors to allow your stock options that were granted in 2000, all of which have vested, to be exercisable for thirty-six (36) months after your Resignation Date.
(c) Paragraph 3(a) notwithstanding, Boston Scientific will continue to make annual bonus payments to Employee equal to the amount of the premium payments for the Security Life of Denver Insurance Company universal life insurance policy currently covering Employee (the "life insurance policy") for as long as the life insurance policy remains in effect until February 1, 2010 or Employee's death, whichever is earlier, plus a grossed up amount for tax purposes. Employee or his trust or designee will remain responsible for making premium payments on the life insurance policy itself. Employee and Boston Scientific agree that Boston Scientific is not responsible for maintaining, administering or making payments under or for any other obligation under the life insurance policy itself and that Boston Scientific's obligation with respect to the life insurance policy extends solely to the payment of the bonus amounts set forth herein. Employee agrees to provide Boston Scientific with documentation as may from time to time be requested to enable Bos...
Termination of Employment Benefits. Eligibility for hospitalization-medical insurance coverage or prescription drug coverage shall end on the date of resignation, retirement or other termination of employment. Continuation coverage under COBRA will still be permitted.
Termination of Employment Benefits. This Agreement confirms that your employment with the Company has been terminated without cause effective as of March 31, 2006 (the “Termination Date”). Your employer-sponsored health insurance coverage, disability and life insurance were terminated as of the Termination Date.
Termination of Employment Benefits. Executive represents, understands and agrees that Executive’s active employment with Company will end on the Separation Date and that Executive will not otherwise demand further employment with Company, except for service as a consultant as set forth in Paragraph 2. Executive understands and agrees that from and after the Separation Date, Executive shall not be entitled to any of the rights and privileges established for Company’s employees, except as otherwise provided in this Agreement.
Termination of Employment Benefits. Employee represents, understands and agrees that Employee’s active employment with Xxxxx & Xxxxx ended on the Termination Date as specified above, that Employee will not otherwise demand further employment with Xxxxx & Xxxxx, and that Employee will no longer be covered by or eligible for any benefits under any Xxxxx & Xxxxx employee benefit plan in which employee currently participates, except as otherwise noted herein. Employee’s health benefits coverage will continue through June 30, 2011 at which time Employee will be eligible for continued coverage through the election of COBRA. Employee will receive by separate cover information regarding Employee’s rights to health insurance continuation under COBRA and any Xxxxx & Xxxxx 401(k) Plan benefits. As of the Termination Date, Employee shall not be entitled to any of the rights and privileges established for Xxxxx & Xxxxx’x employees except as otherwise provided in this Agreement.
Termination of Employment Benefits. Xx. Xxxxx acknowledges that his employment with O’Charley’s, together with his rights to continue to participate in (and O’Charley’s corresponding obligation to provide, make contributions to or fund) certain O’Charley’s related benefits, car allowances, deferred compensation plans (including bonus plans), stock purchase plans, long term incentive plans, 401(k) plans, ambassador card programs, or any other O’Charley’s monitored or provided benefit plan or program, except with respect to insurance and COBRA coverage as more fully provided below, will cease effective the close of business on the Termination Date; provided that, Xx. Xxxxx will be entitled to compensation until the adjournment of the 2009 Annual Meeting as set forth in Paragraph 1 above. Additionally, unless otherwise specified herein, Xx. Xxxxx’ distribution of any vested deferred compensation balances, vested 401(k) balances, vested O’Charley’s Inc. shares or options, etc. will be made expressly in accordance with the terms and conditions of the O’Charley’s Inc. plans governing the same and elections thereunder, all in accordance with applicable law. Xx. Xxxxx will be advised of his right to continue health, vision, and dental coverages with O’Charley’s Inc. (collectively, the “Insurance Coverages”). To the extent that Xx. Xxxxx wishes to continue with any or all of the Insurance Coverages, then Xx. Xxxxx will be entitled to continue with the Insurance Coverages so elected through the second anniversary of the Termination Date, as set forth in Section 3.2(a)(ii) of the Employment Agreement; provided that, all such Insurance Coverages will terminate on the date or dates that Xx. Xxxxx receives substantially similar coverage and benefits, without waiting period or pre-existing condition limitations, under the plans and programs of a subsequent employer or spouse’s employer (such coverage and benefits to be determined on a coverage-by-coverage or benefit-by-benefit basis) (and Xx. Xxxxx will notify O’Charley’s upon obtaining such subsequent coverage and benefits). All such Insurance Coverages will be offered to Xx. Xxxxx on a level equivalent to that had Xx. Xxxxx continued his employment with O’Charley’s during such period, with such benefits provided to Xx. Xxxxx at no less than the same coverage level and at no more of a cost to Xx. Xxxxx than that which existed on the date immediately before the Termination Date (subject in all instances to any reduction in coverage or increases in cost as ...
Termination of Employment Benefits. The Executive Officer shall be entitled to the percentage specified below of the benefit specified in (h) of this Agreement, upon termination of employment at the ages specified below, payable at his Normal Retirement Date: Age Vested Interest --- --------------- 58 50% 59 60% 60 70% 61 80% 62 90% 63 100%
Termination of Employment Benefits. Employee represents, understands and agrees that Employee’s active employment with Xxxxx & Xxxxx ended on the Termination Date as specified above, that Employee will not otherwise demand further employment with Xxxxx & Xxxxx, and that Employee will no longer be covered by or eligible for any benefits under any Xxxxx & Xxxxx employee benefit plan in which employee currently participates, except as otherwise noted herein. Employee’s health benefits coverage will continue through the December 31, 2010 and will terminate January 1, 2011. If Employee terminates prior to December 31, 2010, Employee benefits will terminate at the end of the month in which termination occurs. Employee will receive by separate cover information regarding Employee’s rights to health insurance continuation under COBRA and any Xxxxx & Xxxxx 401(k) Plan benefits. As of the Termination Date, Employee shall not be entitled to any of the rights and privileges established for Xxxxx & Xxxxx’x employees except as otherwise provided in this Agreement.
Termination of Employment Benefits. Subject to the Retirement provisions in Section 5.2, upon Termination of Employment prior to age 65, the Company shall pay the Participant a benefit in the form of a lump sum payment equal to the balance of the Participant's Deferral Account as of the date the Participant terminated employment. Such payment shall be made as soon as administratively possible after said termination date.
Termination of Employment Benefits. Mx. Xxxxx acknowledges that his employment with O’Charley’s, together with his rights to continue to participate in (and O’Charley’s corresponding obligation to provide, make contributions to or fund) certain O’Charley’s related benefits, car allowances, deferred compensation plans (including bonus plans), stock purchase plans, long-term incentive plans, 401(k) plans, ambassador card programs, or any other O’Charley’s monitored or provided benefit plan or program (except with respect to his existing family health insurance coverage as more fully discussed below), ceased effective the close of business on the Resignation Date. Distribution of any vested deferred compensation balances, vested 401(k) balances, vested O’Charley’s Inc. shares or options to Mx. Xxxxx, etc. will be made expressly in accordance with the terms and conditions of the Company plans governing the same and elections thereunder, all in accordance with applicable law.
