TERMINATIONS/LAYOFF/SEVERANCE Sample Clauses

TERMINATIONS/LAYOFF/SEVERANCE. The Corporation and New Ceridian intend that the transactions contemplated by this Agreement and the Distribution Agreement shall not constitute a termination of employment of any New Ceridian Employee or Arbitron Employee. New Ceridian Employees shall not be eligible for any severance benefits as a result of their transfer to New Ceridian or its Subsidiaries. Arbitron Employees shall not be eligible for any severance benefits as a result of any transfer to Arbitron or its Subsidiaries. Subject to the provisions of Section 7.2, New Ceridian shall be liable to pay any severance benefits to which a Former New Ceridian Employee or a New Ceridian Employee is entitled under the severance plan, if any, in effect with respect to the Former New Ceridian Employee or New Ceridian Employee on the date his or her employment terminates, whether before or after the Effective Time. Neither the Corporation nor any of its Subsidiaries shall have any responsibility to provide such severance benefits after the Effective Time, and New Ceridian shall indemnify and hold harmless the Media Information Indemnitees from all Indemnifiable Losses arising from or related to such severance plan. Commencing as of the Effective Date, the Corporation shall be liable to pay any severance benefits to which a Former Arbitron Employee, Media Information Employee or Arbitron Employee is entitled under the severance plan in effect with respect to the Former Arbitron Employee, Media Information Employee or Arbitron Employee,on the date his or her employment terminates, whether before or after the Effective Date. Neither New Ceridian nor any of its Subsidiaries shall have any responsibility to provide such severance benefits after the Effective Time, and the Corporation shall indemnify and hold harmless the New Ceridian Indemnitees from all Indemnifiable Losses arising from or related to such severance plan.
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TERMINATIONS/LAYOFF/SEVERANCE. (a) No Consulting Employees shall be eligible for any severance benefits from KPMG or its Subsidiaries as a result of the transfer of their employment or service from KPMG or its Subsidiaries to Consulting or its Subsidiaries or any subsequent termination of their employment or service with Consulting or its Subsidiaries. Notwithstanding the foregoing, Consulting shall pay certain severance benefits as provided in Section 8.3(b).
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TERMINATIONS/LAYOFF/SEVERANCE. (a) Edwards Employees shall not ----------------------------- be eligible for any severance benefits from Baxter or its Subsidiaries or Affiliates as a result of -58- either their employment by Edwards or its Subsidiaries or Affiliates or their subsequent termination of employment with Edwards or its Subsidiaries or Affiliates.
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TERMINATIONS/LAYOFF/SEVERANCE. Transferred Employees shall not be eligible for any severance benefits from BKK as a result of either their employment by ELL or its Affiliates or any subsequent termination of employment with ELL or its Affiliates.
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TERMINATIONS/LAYOFF/SEVERANCE. (a) Allegiance Employees shall not be eligible for any severance benefits from Baxter or its Subsidiaries or Affiliates as a result of either their employment by Allegiance or its Subsidiaries or Affiliates or their subsequent termination of employment with Allegiance or its Subsidiaries or Affiliates. Notwithstanding the foregoing, Baxter and Allegiance have agreed on the payment of certain severance costs as provided in SECTION 9.3(d).
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TERMINATIONS/LAYOFF/SEVERANCE. Xxxxxxx Employees shall not be eligible for any severance benefits from Xxxxxx Japan as a result of either their employment by Xxxxxxx Optionholder or its Affiliates or any subsequent termination of employment with Xxxxxxx Optionholder or its Affiliates.
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Related to TERMINATIONS/LAYOFF/SEVERANCE

  • Termination Severance Either party may terminate the employment relationship as evidenced by this Agreement at any time and for any reason upon ninety days written notice to the other.

  • Termination of Employment Severance Your immediate supervisor or the Company's Board of Directors may terminate your employment, with or without cause, at any time by giving you written notice of your termination, such termination of employment to be effective on the date specified in the notice. You also may terminate your employment with the Company at any time. The effective date of termination (the "Effective Date") shall be the last day of your employment with the Company, as specified in a notice by you, or if you are terminated by the Company, the date that is specified by the Company in its notice to you. The following subsections set forth your rights to severance in the event of the termination of your employment in certain circumstances by either the Company or you. Section 5 also sets forth certain restrictions on your activities if your employment with the Company is terminated, whether by the Company or you. That section shall survive any termination of this Agreement or your employment with the Company.

  • Termination of Employment with Severance Benefits (a) The Executive shall be entitled to the severance benefits described in section 9(b) in the event that:

  • Termination of Employment and Severance Benefits The Executive’s employment hereunder shall terminate under the following circumstances:

  • OBLIGATIONS SURVIVE TERMINATION OF EMPLOYMENT Executive agrees that any and all of Executive’s obligations under this Agreement, including but not limited to Exhibits B and C, shall survive the termination of employment and the termination of this Agreement.

  • SEVERANCE COMPENSATION IN THE EVENT OF A TERMINATION OTHER THAN FOR CAUSE In the event of a Termination Other Than for Cause, the Employee shall be paid as severance compensation his Base Salary (at the rate payable at the time of such termination) for a period of twelve (12) months from the date of such termination, on the dates specified in Section 3.1, and Employee shall also be paid an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination. Notwithstanding anything in this Section 4.2 to the contrary, the Employee may in the Employee’s sole discretion, by delivery of a notice to the Employer within thirty (30) days following a Termination Other Than for Cause, elect to receive from the Employer a lump sum severance payment by bank cashier’s check equal to the present value of the flow of cash payments that would otherwise be paid to the Employee pursuant to this Section 4.2. Such present value shall be determined as of the date of delivery of the notice of election by the Employee and shall be based on a discount rate equal to the interest rate on 90-day U.S. Treasury bills, as reported in The Wall Street Journal (or similar publication), on the date of delivery of the election notice. If the Employee elects to receive a lump sum severance payment, Avocent Corporation shall cause the Employer to make such payment to the Employee within ten (10) days following the date on which the Employee notifies the Employer of the Employee’s election. The Employee shall also be entitled to have the vesting of any awards granted to the Employee under any AHC or Avocent stock option plans fully accelerated. The Employee shall be provided with medical plan benefits under any health plans of Avocent or Employer in which the Employee is a participant to the full extent of the Employee’s rights under such plans for a period of twelve (12) months from the date of such Termination Other Than for Cause (even if Employee elects to receive a lump sum severance payment).

  • Death After Termination of Employment But Before Benefit Payments Commence If the Executive is entitled to benefit payments under this Agreement, but dies prior to the commencement of said benefit payments, the Company shall pay the benefit payments to the Executive's beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's death.

  • Involuntary Termination in Connection with a Change in Control Notwithstanding anything contained herein, in the event of an Involuntary Termination prior to a Change in Control, if the Involuntary Termination (1) was at the request of a third party who has taken steps reasonably calculated to effect such Change in Control or (2) otherwise arose in connection with or in anticipation of such Change in Control, then the Executive shall, in lieu of the payments described in Section 4 hereof, be entitled to the Post-Change in Control Severance Payment and the additional benefits described in this Section 5 as if such Involuntary Termination had occurred within two (2) years following the Change in Control. The amounts specified in Section 5 that are to be paid under this Section 5(h) shall be reduced by any amount previously paid under Section 4. The amounts to be paid under this Section 5(h) shall be paid within sixty (60) days after the Change in Control Date of such Change in Control.

  • Involuntary Termination Without Cause and Voluntary Termination with Good Reason With written notice to the Executive at least thirty (30) days in advance, the Bank may terminate the Executive’s employment without Cause. Termination shall take effect at the end of the notice period. With advance written notice to the Bank as provided in clause (y), the Executive may terminate employment for Good Reason. If the Executive’s employment terminates involuntarily without Cause or voluntarily but with Good Reason, the Executive shall be entitled to the benefits specified in Article 4 of this Agreement. For purposes of this Agreement, a voluntary termination by the Executive shall be considered a voluntary termination with Good Reason if the conditions stated in both clauses (x) and (y) of this Section 3.4 are satisfied:

  • Termination and Severance Executive shall be entitled to receive benefits upon termination of employment only as set forth in this Section 4:

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