Termination of Employment by the Company Without Cause. If the Executive's employment is terminated by the Company without Cause, other than due to death or Disability, the Executive shall be entitled to the following: (1) Base Salary earned but not paid prior to the date of the termination of his employment; (2) Annual Bonus with respect to any year prior to the year of the termination of the Executive's employment which has been earned but not paid; (3) an amount equal to the aggregate Base Salary (based on the Base Salary in effect on the date of the termination of the Executive's employment) (the "Salary Continuation Benefits") with respect to a period equal to eighteen months, payable in equal monthly installments during such period; (4) continued accrual of credited service through the end of the Term of Employment for the purpose of any Company pension plan, program or arrangement; (5) the right to purchase, at fair market value, the Executive's automobile (if any) provided to him by the Company under the Company's automobile perquisite program for senior-level executives; (6) any amounts earned, accrued or owing to the Executive but not yet paid under Section 6, 7, 8, 9, 10 or 11 above; (7) continued participation, as if he were still an employee, in the Company's medical, dental, hospitalization and life insurance plans, programs and/or arrangements and in other employee benefit plans, programs and/or arrangements in which he was participating on the date of the termination of his employment until the earlier of: (A) the end of the period used to determine the Salary Continuation Benefits; or (B) the date, or dates, he receives equivalent coverage and benefits under the plans, programs and/or arrangements of a subsequent employer (such coverage and benefits to be determined on a coverage-by-coverage or benefit-by-benefit basis); provided, however, that:
Appears in 2 contracts
Samples: Employment Agreement (Metallurg Holdings Inc), Employment Agreement (Metallurg Inc)
Termination of Employment by the Company Without Cause. If the Executive's employment is terminated by the Company without Cause, other than due to death or Disability, the Executive shall be entitled to the following:
(1) Base Salary earned but not paid prior to the date of the termination of his employment;
(2) Annual Bonus with respect to any year prior to the year of the termination of the Executive's employment which has been earned but not paid;
(3) an amount equal to the aggregate Base Salary (based on the Base Salary in effect on the date of the termination of the Executive's employment) (the "Salary Continuation Benefits") with respect to a period equal to eighteen months, payable in equal monthly installments during over such period;
(4) continued accrual of credited service through the end of the Term of Employment for the purpose of any Company pension plan, program or arrangement;
(5) the right to purchase, at fair market value, the Executive's automobile (if any) provided to him by the Company under the Company's automobile perquisite program for senior-level executives;
(6) any amounts earned, accrued or owing to the Executive but not yet paid under Section 6, 7, 8, 9, 10 or 11 above;
(7) continued participation, as if he were still an employee, in the Company's medical, dental, hospitalization and life insurance plans, programs and/or arrangements and in other employee benefit plans, programs and/or arrangements in which he was participating on the date of the termination of his employment until the earlier of:
(A) the end of the period used to determine the Salary Continuation Benefits; or
(B) the date, or dates, he receives equivalent coverage and benefits under the plans, programs and/or arrangements of a subsequent employer (such coverage and benefits to be determined on a coverage-by-coverage or benefit-by-benefit basis); provided, however, that:
Appears in 2 contracts
Samples: Employment Agreement (Metallurg Inc), Employment Agreement (Metallurg Holdings Inc)
Termination of Employment by the Company Without Cause. If the Executive's employment is terminated by the Company without Cause, other than due to death or Disability, the Executive shall be entitled to the following:
(1) Base Salary earned but not paid prior to the date of the termination of his employment;
(2) Annual Bonus with respect to any year prior to the year of the termination of the Executive's employment which has been earned but not paid;
(3) an amount equal to the aggregate Base Salary (based on the Base Salary in effect on the date of the termination of the Executive's employment) (the "Salary Continuation Benefits") with respect to a period equal to eighteen months, payable in equal monthly installments during over such period;
(4) continued accrual of credited service through the end of the Term of Employment for the purpose of any Company pension plan, program or arrangement;
(5) the right to purchase, at fair market value, the Executive's automobile (if any) provided to him by the Company under the Company's automobile perquisite program for senior-level executives;
(6) any amounts earned, accrued or owing to the Executive but not yet paid under Section 6, 7, 8, 9, 10 or 11 above;
(7) continued participation, as if he were still an employee, in the Company's medical, dental, hospitalization and life insurance plans, programs and/or arrangements and in other employee benefit plans, programs and/or arrangements in which he was participating on the date of the termination of his employment until the earlier of:
(A) the end of the period used to determine the Salary Continuation Benefits; or
(B) the date, or dates, he receives equivalent coverage and benefits under the plans, programs and/or arrangements of a subsequent employer (such coverage and benefits to be determined on a coverage-by-coverage or benefit-by-benefit basis); provided, however, that:
Appears in 2 contracts
Samples: Employment Agreement (Metallurg Inc), Employment Agreement (Metallurg Holdings Inc)
Termination of Employment by the Company Without Cause. If the Executive's employment is terminated by the Company without Cause, other than due to death or Disability, the Executive shall be entitled to the following:
(1) Base Salary earned but not paid prior to the date of the termination of his employment;
(2) Annual Bonus with respect to any year prior to the year of the termination of the Executive's employment which has been earned but not paid;
(3) an amount equal to the aggregate Base Salary (based on the Base Salary in effect on the date of the termination of the Executive's employment) (the "Salary Continuation Benefits") with respect to a period equal to eighteen months, payable in equal monthly installments during over such period;
(4) continued accrual of credited service through the end of the Term of Employment for the purpose of any Company pension plan, program or arrangement;
(5) the right to purchase, at fair market value, the Executive's automobile (if any) provided to him by the Company under the Company's automobile perquisite program for senior-level executives;
(6) any amounts earned, accrued or owing to the Executive but not yet paid under Section 6, 7, 8, 9, 9 or 10 or 11 above;
(7) continued participation, as if he were still an employee, in the Company's medical, dental, hospitalization and life insurance plans, programs and/or arrangements and in other employee benefit plans, programs and/or arrangements in which he was participating on the date of the termination of his employment until the earlier of:
(A) the end of the period used to determine the Salary Continuation Benefits; or
(B) the date, or dates, he receives equivalent coverage and benefits under the plans, programs and/or arrangements of a subsequent employer (such coverage and benefits to be determined on a coverage-by-coverage or benefit-by-benefit basis); provided, however, that:
Appears in 2 contracts
Samples: Employment Agreement (Metallurg Holdings Inc), Employment Agreement (Metallurg Inc)
Termination of Employment by the Company Without Cause. If the Executive's employment is terminated by the Company without Cause, other than due to death or Disability, the Executive shall be entitled to the following:
(1) Base Salary earned but not paid prior to the date of the termination of his her employment;
(2) Annual Bonus with respect to any year prior to the year of the termination of the Executive's employment which has been earned but not paid;
(3) an amount equal to the aggregate Base Salary (based on the Base Salary in effect on the date of the termination of the Executive's employment) (the "Salary Continuation Benefits") with respect to a period equal to twelve months, if such termination occurs prior to the first anniversary of the initial Effective Date or eighteen months, thereafter, in each case payable in equal monthly installments during over such period;
(4) continued accrual of credited service through the end of the Term of Employment for the purpose of any Company pension plan, program or arrangement;
(5) the right to purchase, at fair market value, the Executive's automobile (if any) provided to him by the Company under the Company's automobile perquisite program for senior-level executives;
(6) any amounts earned, accrued or owing to the Executive but not yet paid under Section 6, 7, 8, 9, 10 or 11 above;
(7) continued participation, as if he she were still an employee, in the Company's medical, dental, hospitalization and life insurance plans, programs and/or arrangements and in other employee benefit plans, programs and/or arrangements in which he she was participating on the date of the termination of his her employment until the earlier of:
(A) the end of the period used to determine the Salary Continuation Benefits; or
(B) the date, or dates, he she receives equivalent coverage and benefits under the plans, programs and/or arrangements of a subsequent employer (such coverage and benefits to be determined on a coverage-by-coverage or benefit-by-benefit basis); provided, however, that:
Appears in 2 contracts
Samples: Employment Agreement (Metallurg Inc), Employment Agreement (Metallurg Holdings Inc)
Termination of Employment by the Company Without Cause. If the Executive's employment is terminated by the Company without Cause, other than due to death or Disability, the Executive shall be entitled to the following:
(1) Base Salary earned but not paid prior to the date of the termination of his employment;
(2) Annual Bonus with respect to any year prior to the year of the termination of the Executive's employment which has been earned but not paid;
(3) an amount equal to the aggregate Base Salary (based on the Base Salary in effect on the date of the termination of the Executive's employment) (the "Salary Continuation Benefits") with respect to a period equal to eighteen months, payable in equal monthly installments during such period;
(4) continued accrual of credited service through the end of the Term of Employment for the purpose of any Company pension plan, program or arrangement;
(5) the right to purchase, at fair market value, the Executive's automobile (if any) provided to him by the Company under the Company's automobile perquisite program for senior-level executives;
(6) any amounts earned, accrued or owing to the Executive but not yet paid under Section 6, 7, 8, 9, 9 or 10 or 11 above;
(7) continued participation, as if he were still an employee, in the Company's medical, dental, hospitalization and life insurance plans, programs and/or arrangements and in other employee benefit plans, programs and/or arrangements in which he was participating on the date of the termination of his employment until the earlier of:
(A) the end of the period used to determine the Salary Continuation Benefits; or
(B) the date, or dates, he receives equivalent coverage and benefits under the plans, programs and/or arrangements of a subsequent employer (such coverage and benefits to be determined on a coverage-by-coverage or benefit-by-benefit basis); provided, however, that:
Appears in 1 contract
Samples: Employment Agreement (Metallurg Inc)
Termination of Employment by the Company Without Cause. If the Executive's employment is terminated by the Company without Cause, other than due to death or Disability, the Executive shall be entitled to the following:
(1) Base Salary earned but not paid prior to the date of the termination of his employment;
(2) Annual Bonus with respect to any year prior to the year of the termination of the Executive's employment which has been earned but not paid;
(3) an amount equal to the aggregate Base Salary (based on the Base Salary in effect on the date of the termination of the Executive's employment) (the "Salary Continuation Benefits") with respect to a period equal to eighteen months, payable in equal monthly installments during over such period;
(4) continued accrual of credited service through a period ending on that date that would have been the end of the Term of Employment for the purpose of any Company pension plan, program or arrangement;
(5) the right to purchase, at fair market value, the Executive's automobile (if any) provided to him by the Company under the Company's automobile perquisite program for senior-level executives; however, other than the foregoing, all rights to continue to participate in such program shall terminate on the date of termination of employment;
(6) any amounts earned, accrued or owing to the Executive but not yet paid under Section 6, 7, 8, 9, 10 or 11 above;
(7) continued participation, as if he were still an employee, in the Company's medical, dental, hospitalization and life insurance plans, programs and/or arrangements and in other employee benefit plans, programs and/or arrangements (excluding long-term disability programs) in which he was participating on the date of the termination of his employment until the earlier of:
(A) the end of the period used to determine the Salary Continuation Benefits; or
(B) the date, or dates, he receives equivalent coverage and benefits under the plans, programs and/or arrangements of a subsequent employer (such coverage and benefits to be determined on a coverage-by-coverage or benefit-by-benefit basis); provided, however, that:
Appears in 1 contract
Samples: Employment Agreement (Metallurg Inc)
Termination of Employment by the Company Without Cause. If the Executive's employment is terminated by the Company without Cause, other than due to death or Disability, the Executive shall be entitled to the following:
(1) Base Salary earned but not paid prior to the date of the termination of his employment;
(2) Annual Bonus with respect to any year prior to the year of the termination of the Executive's employment which has been earned but not paid;
(3) an amount equal to the aggregate Base Salary (based on the Base Salary in effect on the date of the termination of the Executive's employment) (the employment)(the "Salary Continuation Benefits") with respect to a period equal to eighteen months, payable in equal monthly installments during over such period;
(4) continued accrual of credited service through a period ending on that date that would have been the end of the Term of Employment for the purpose of any Company pension plan, program or arrangement;
(5) the right to purchase, at fair market value, the Executive's automobile (if any) provided to him by the Company under the Company's automobile perquisite program for senior-level executives; however, other than the foregoing, all rights to continue to participate in such program shall terminate on the date of termination of employment;
(6) any amounts earned, accrued or owing to the Executive but not yet paid under Section 6, 7, 8, 9, 10 or 11 above;
(7) continued participation, as if he were still an employee, in the Company's medical, dental, hospitalization and life insurance plans, programs and/or arrangements and in other employee benefit plans, programs and/or arrangements (excluding long-term disability programs) in which he was participating on the date of the termination of his employment until the earlier of:
(A) the end of the period used to determine the Salary Continuation Benefits; or
(B) the date, or dates, he receives equivalent coverage and benefits under the plans, programs and/or arrangements of a subsequent employer (such coverage and benefits to be determined on a coverage-by-coverage or benefit-by-benefit basis); provided, however, that:
Appears in 1 contract
Samples: Employment Agreement (Metallurg Inc)
Termination of Employment by the Company Without Cause. If the Executive's ’s employment is terminated by the Company without Cause, other than due to death or Disability, the Executive shall be entitled to the following:
(1) Base Salary earned but not paid prior to the date of the termination of his employment;
(2) Annual Bonus with respect to any year prior to the year of the termination of the Executive's employment which has been earned but not paid;
(3) an amount equal to the aggregate Base Salary (based on the Base Salary in effect on the date of the termination of the Executive's ’s employment) (the "“Salary Continuation Benefits"”) for the balance of Term of Employment payable over the period in accordance with respect to a period equal to eighteen months, payable in equal monthly installments during such periodthe regular payroll practices of the Company;
(43) continued accrual of credited service through a period ending on that date that would have been the end of the Term of Employment for the purpose of any Company pension plan, program or arrangement;
(5) the right to purchase, at fair market value, the Executive's automobile (if any) provided to him by the Company under the Company's automobile perquisite program for senior-level executives;
(64) any amounts earned, accrued or owing to the Executive but not yet paid under Section Sections 6, 7, 8, 9, 10 or 11 8 above;
(75) continued participation, as if he were still an employee, in the Company's ’s medical, dental, hospitalization and life insurance plans, programs and/or arrangements and in other employee benefit plans, programs and/or arrangements (excluding long-term disability programs) in which he was participating on the date of the termination of his employment until the earlier of:
(A) the end of the period used to determine the Salary Continuation Benefits; or
(B) the date, or dates, he receives equivalent coverage and benefits under the plans, programs and/or arrangements of a subsequent employer (such coverage and benefits to be determined on a coverage-by-coverage or benefit-by-benefit basis); provided;
(6) other or additional benefits in accordance with applicable plans, however, that:programs and/or arrangements of the Company.
Appears in 1 contract
Samples: Employment Agreement (Protective Products of America, Inc.)