Termination Without Cause or Upon Death or Disability. If Sxxxx’x employment is terminated by death or by the Company because of Disability or without Cause, (or his legal representative, estate, or heirs) shall be entitled to receive from the Company, as liquidated damages:
5.2.a. The continued payment of Base Salary, at the rate in effect at the Termination Date, for six (6) consecutive months following the Termination Date (the “Severance Payments”). Once Sxxxx has been employed by the Company for at least twelve (12) consecutive months, the continued payment of Base Salary in effect at the Termination Date shall be for a period of twelve (12) months following the Termination date; and
5.2.b. If Sxxxx elects and maintains continued coverage under the Consolidated Omnibus Benefits Reconciliation Act of 1985 and corresponding regulations (“COBRA”), then for up to the twelve (12) consecutive months immediately after the Termination Date, payments in an amount equal to the difference between (i) the premiums paid or payable by Sxxxx for coverage under COBRA for himself and his dependents (if any) and (ii) the premiums that he would have paid for comparable coverage under the Company’s then current group insurance plan or plans if his employment under this Agreement had not ceased (the “Insurance Payments”); except that the Insurance Payments shall expire or terminate immediately upon Sxxxx’x becoming eligible for coverage under another employer’s plan or policy. The Severance Payments shall be paid at the dates on which Sxxxx’x Base Salary would have been payable if his employment under this Agreement had not been terminated. The Company will commence the Severance Payments and the Insurance Payments within ten (10) business days after the first business day on which the release executed and delivered in accordance with Section 5.3.a becomes irrevocable by Sxxxx (or his legal representative, estate, or heirs). The Company’s obligations for the Insurance Payments are not intended to negate or impair any obligation of the Company or right of Sxxxx under COBRA. The Severance Payments and the Insurance Payments shall be in addition to the amounts or benefits to which Sxxxx is entitled under Article 5.1. Any Severance Payments or Insurance Payments (or both) under this Article 5.2 shall not be deemed the continuation of Sxxxx’x employment for any purpose.
Termination Without Cause or Upon Death or Disability. If Dayton's employment is terminated by death or by the Company because of Disability or without Cause, Dayton (or his legal representative, estate, or heirs) shall be entitled to receive from the Company, as liquidated damages:
5.2.a. The continued payment of Base Salary, at the rate in effect at the Termination Date, and Transportation Allowance for twelve (12) consecutive months following the Termination Date (the "Severance Payments"); and
5.2.b. if Dayton elects and maintains continued coverage under the Consolidated Omnibus Benefits Reconciliation Act of 1985 and corresponding regulations ("COBRA"), then for up to the twelve (12) consecutive months immediately after the Termination Date, payments in an amount equal to the difference between (i) the premiums paid or payable by Dayton for coverage under COBRA for himself and his dependents (if any) and (ii) the premiums that he would have paid for comparable coverage under the Company's then current group insurance plan or plans if his employment under this Agreement had not ceased (the "Insurance Payments"); except that the Insurance Payments shall expire or terminate EMPLOYMENT AGREEMENT - EDWAXX X. XXXXXX immediately upon Dayton's becoming eligible for coverage under another employer's plan or policy.
1. Any Severance Payments or Insurance Payments (or both) under this Article 5.2 shall not be deemed the continuation of Dayton's employment for any purpose.
Termination Without Cause or Upon Death or Disability. If Deutsch's employment is terminated by death or by the Company because of Disability or without Cause, Deutsch (or his legal representative, estate, or heirs) shall be entitled to receive from the Company, as liquidated damages:
5.2.a. The continued payment of Base Salary, at the rate in effect at the Termination Date, for twelve (12) consecutive months following the Termination Date (the "Severance Payments"); and
5.2.b. If Deutsch elects and maintains continued coverage under the Consolidated Omnibus Benefits Reconciliation Act of 1985 and corresponding regulations ("COBRA"), then for up to the twelve (12) consecutive months immediately after the Termination Date, payments in an amount equal to the difference between (i) the premiums paid or payable by Deutsch for coverage under COBRA for himself and his dependents (if any) and (ii) the premiums that he would have paid for comparable coverage under the Company's then current group insurance plan or EMPLOYMENT AGREEMENT - THOMXX XXXTSCH 5
1. Any Severance Payments or Insurance Payments (or both) under this Article 5.2 shall not be deemed the continuation of Deutsch's employment for any purpose.
Termination Without Cause or Upon Death or Disability. If Salsxxxx'x employment is terminated by death or by the Company because of Disability or without Cause, Salsxxxx (xx her legal representative, estate, or heirs) shall be entitled to receive from the Company, as liquidated damages:
5.2.a. The continued payment of Base Salary, at the rate in effect at the Termination Date, for twelve (12) consecutive months following the Termination Date (the "Severance Payments"); and
5.2.b. If Salsxxxx xxxcts and maintains continued coverage under the Consolidated Omnibus Benefits Reconciliation Act of 1985 and corresponding regulations ("COBRA"), then for up to the twelve (12) consecutive months immediately after the Termination Date, payments in an amount equal to the difference between (i) the premiums paid or payable by Salsxxxx xxx coverage under COBRA for herself and her dependents (if any) and (ii) the premiums that EMPLOYMENT AGREEMENT - JENNXXXX XXXXXXXX 5 she would have paid for comparable coverage under the Company's then current group insurance plan or plans if her employment under this Agreement had not ceased (the "Insurance Payments"); except that the Insurance Payments shall expire or terminate immediately upon Salsxxxx'x becoming eligible for coverage under another employer's plan or policy.
1. Any Severance Payments or Insurance Payments (or both) under this Article 5.2 shall not be deemed the continuation of Salsxxxx'x xxxloyment for any purpose.
Termination Without Cause or Upon Death or Disability. The Company may terminate your employment without cause at any time. If your employment is terminated by the Company without cause or by reason of death or any physical or mental incapacity which has prevented and/or will prevent you from performing your then-current duties under this Agreement for more than three consecutive months, and you (or your estate or personal representative, as applicable) sign a general release of known and unknown claims in a form satisfactory to the Company within sixty (60) days of the termination of your employment (or such shorter period as is necessary to comply with the following clause), which must be valid and enforceable no later than the ninetieth (90th) day after your termination, and you fully comply with your obligations under Paragraphs 6, 7 and 9 below, you (or your estate or personal representative, as applicable) will receive the following severance benefits:
(i) all compensation and benefits under Paragraph 3 above that is earned but unpaid through the date of termination, to be paid as and when otherwise due;
(ii) severance payments at your final base salary rate for a period (the “Severance Period”) starting on the date of your termination and ending on the later of (i) the 1st anniversary of the date your termination and (ii) June 28, 2012; such payments will be subject to applicable withholding and made monthly commencing as of the effective date of your release; provided that any payment otherwise due under this clause (ii) prior to the 90th day after your termination shall instead be paid, without interest, on such 90th day;
(iii) payment of the premiums necessary to continue your group health insurance under COBRA (or to purchase other comparable health insurance coverage on an individual basis if you are no longer eligible for COBRA coverage) until the earlier of (x) the end of the Severance Period; or (y) the date you first became eligible to participate in another employer’s group health insurance plan;
Termination Without Cause or Upon Death or Disability. If Gibbx' employment is terminated by death or by the Company because of Disability or without Cause, Gibbx (xx his legal representative, estate, or heirs) shall be entitled to receive from the Company (except if waived by Gibbx xx accordance with Article 7), as liquidated damages:
5.2.a. The payment of a total Two Hundred Forty Thousand Dollars ($240,000.00), in twenty-four (24) equal installments, and Transportation Allowance for twelve (12) consecutive months following the Termination Date, except that if any such termination described above in this Article 5.2 occurs during the first ninety (90) days of his employment under this Agreement (the "Probationary Period"), those payments shall be only until the day preceding the first anniversary of the date of this Agreement (such payments, regardless of time, the "Severance Payments"); and
5.2.b. if Gibbx xxxcts and maintains continued coverage under the Consolidated Omnibus Benefits Reconciliation Act of 1985 and corresponding regulations ("COBRA"), then for up to the twelve (12) consecutive months immediately after the Termination Date (or if the termination is during the Probationary Period, for as long as the day preceding the first anniversary of the date of this Agreement), payments in an amount equal to the difference between (i) the premiums paid or payable by Gibbx xxx coverage under COBRA for himself and his dependents (if any) and (ii) the premiums that he would have paid for comparable coverage under the Company's then current group insurance plan or plans if his employment under this Agreement had not ceased (the "Insurance Payments"); except that the Insurance Payments shall expire or terminate immediately upon Gibbx' xxcoming eligible for coverage under another employer's plan or policy.
1. Any Severance Payments or Insurance Payments (or both) under this Article 5.2 shall not be deemed the continuation of Gibbx' xxployment for any purpose.
Termination Without Cause or Upon Death or Disability. If Urbanus' employment is terminated by death or by the Company because of Disability or without Cause, Urbanus (or his legal representative, estate, or heirs) shall be entitled to receive from the Company, as liquidated damages:
5.2.a. The continued payment of Base Salary, at the rate in effect at the Termination Date, and Transportation Allowance for twelve (12) consecutive months following the Termination Date (the "Severance Payments"); and
5.2.b. if Urbanus elects and maintains continued coverage under the Consolidated Omnibus Benefits Reconciliation Act of 1985 and corresponding regulations ("COBRA"), then for up to the twelve (12) consecutive months immediately after the Termination Date, payments in an amount equal to the difference between (i) the premiums paid or payable by Urbanus for coverage under COBRA for himself and his dependents (if any) and (ii) the premiums that he would have paid for comparable coverage under the Company's then current group insurance plan or plans if his employment under this Agreement had not ceased (the "Insurance Payments"); except that the Insurance Payments shall expire or terminate immediately upon Urbanus' becoming eligible for coverage under another employer's plan or policy.
Termination Without Cause or Upon Death or Disability. If Rice’s employment is terminated by death or by the Company because of Disability or without Cause, Rice (or his legal representative, estate, or heirs) shall be entitled to receive from the Company, as liquidated damages:
5.2.a. The continued payment of Base Salary, at the rate in effect at the Termination Date, for six (6) consecutive months following the Termination Date (the “Severance Payments”). Once Rice has been employed by the Company for at least twelve (12) consecutive months, the continued payment of Base Salary in effect at the Termination Date shall be for a period of twelve (12) months following the Termination date; and
5.2.b. If Rice elects and maintains continued coverage under the Consolidated Omnibus Benefits Reconciliation Act of 1985 and corresponding regulations (“COBRA”), then for up to the twelve (12) consecutive months immediately after the Termination Date, payments in an amount equal to the difference between (i) the premiums paid or payable by Rice for coverage under COBRA for himself and his dependents (if any) and (ii) the premiums that he would have paid for comparable coverage under the Company’s then current group insurance plan or plans if his employment under this Agreement had not ceased (the “Insurance Payments”); except that the Insurance Payments shall expire or terminate immediately upon Rice’s becoming eligible for coverage under another employer’s plan or policy.
1. Any Severance Payments or Insurance Payments (or both) under this Article 5.2 shall not be deemed the continuation of Rice’s employment for any purpose.
Termination Without Cause or Upon Death or Disability. If Gulinson's employment is terminated by death or by the Company because of Disability or without Cause, Gulinson (or his legal representative, estate, or heirs) shall be entitled to receive from the Company, as liquidated damages:
5.2.a. The continued payment of Base Salary, at the rate in effect at the Termination Date, for twelve (12) consecutive months following the Termination Date (the "Severance Payments"); and
5.2.b. if Gulinson elects and maintains continued coverage under the Consolidated Omnibus Benefits Reconciliation Act of 1985 and corresponding regulations ("COBRA"), then for up to the twelve (12) consecutive months immediately after the Termination Date, payments in an amount equal to the difference between (i) the premiums paid or payable by Gulinson for coverage under COBRA for himself and his dependents (if any) and (ii) the premiums that he would have paid for comparable coverage under the Company's then current group insurance plan or plans if his employment under this Agreement had not ceased (the "Insurance Payments"); except that the Insurance Payments shall expire or terminate immediately upon Gulinson's becoming eligible for coverage under another employer's plan or policy. EMPLOYMENT AGREEMENT - MICHXXX X. XXXXXXXX
1. Any Severance Payments or Insurance Payments (or both) under this Article 5.2 shall not be deemed the continuation of Gulinson's employment for any purpose.
Termination Without Cause or Upon Death or Disability. If Hirschhorn’s employment is terminated by death or by the Company because of Disability or without Cause, Hirschhorn (or his legal representative, estate, or heirs) shall be entitled to receive from the Company, as liquidated damages:
6.2.a. A lump sum amount equal to three times the sum of Hirschhorn’s then current annualized Base Salary plus any bonus paid in the fiscal year of the Company preceding Termination pursuant to this Article 6.2 (the “Severance Payments”); and
6.2.b. If Hirschhorn elects and maintains continued coverage under the Consolidated Omnibus Benefits Reconciliation Act of 1985 and corresponding regulations (“COBRA”), then for up to the twelve (12) consecutive months immediately after the Termination Date, payments in an amount equal to the difference between (i) the premiums paid or payable by Hirschhorn for coverage under COBRA for himself and his dependents (if any) and (ii) the premiums that he would have paid for comparable coverage under the Company’s then current group insurance plan or plans if his employment under this Agreement had not ceased (the “Insurance Payments”); except that the Insurance Payments shall expire or terminate immediately upon Hirschhorn’s becoming eligible for coverage under another employer’s plan or policy.
1. Any Severance Payments or Insurance Payments (or both) under this Article 6.2 shall not be deemed the continuation of Hirschhorn’s employment for any purpose.
