Termination of Severance Agreements. The following severance agreements shall terminate:
Termination of Severance Agreements. The Company and Employee agree that the Severance Agreement dated as of May 1, 1996 and the Change of Control Severance Agreement dated as of the same date which provide severance benefits to Employee in the event of Employee's termination under specified circumstances, the letter agreement between the Company and Employee dated April 9, 1993, as well as any predecessor agreements (collectively the "Prior Agreements"), are hereby terminated as of the date of this Agreement and Release. Neither the Company nor Employee shall have any further obligations under the Prior Agreements.
Termination of Severance Agreements. The Company shall have provided Parent with evidence reasonably satisfactory to Parent as to the termination of each Company Contract required to be disclosed pursuant to in Section 2.15(a)(i)(B) and the payments of all amounts due thereunder, including all Taxes and COBRA-related obligations in respect thereof.
Termination of Severance Agreements. The Company will cause all severance agreements (the “Severance Agreements”) between the Company and any employee of the Company (including, but not limited to, Mxxx Xxxxxx, Rxxxxx Xx Xxxxxx, Jxx Xxxxx, Mxxxxxx Xxxxxx, Rxxxxxx Xxxxx and Wxxxxxx Xxxxxxx) to be terminated prior to the Effective Time.
Termination of Severance Agreements. Prior to the Effective Date, Executive is a participant in the Company’s Key Employee Retention Program, approved by the Bankruptcy Court on September 3, 2005, consisting of the Retention Plan, Severance Plan, Change in Control Severance Program and Long-Term Incentive Plan. Executive shall continue his participation in the Retention Plan and the Long-Term Incentive Plan following the Effective Date with respect to awards granted prior to the Effective Date, subject to the terms and conditions set forth in such plans. The parties intend that this Agreement will replace and supersede the Severance Plan and the Change in Control Severance Program.
Termination of Severance Agreements. The separate Executive Severance Packxxx Xxxxxxxxxx, each dated June 18, 2001, between David J. McNally and the Company and Phillip L. McStotts and the Company shall have been terminated in fxxx xxx xxxxxxxxe reasonably satisfacxxxx xx Xxxxxx xxx Merger Sub, and all payments due thereunder shall have paid.
Termination of Severance Agreements. The Company and Employee agree that the Severance Agreement between Employee and Ryder System, Inc. ("RSI"), dated as of May 1, 1996, and the Change of Control Severance Agreement between Employee and RSI, dated as of the same date, which provide severance benefits to Employee in the event of Employee's termination under specified circumstances, as well as any predecessor agreements (collectively the "Prior Agreements"), are hereby terminated as of the date of this Agreement and Release. Neither the Company, RSI nor Employee shall have any further obligations under the Prior Agreements.
