Transition Benefits. Teachers who are eligible for the severance option listed in Section 7.3 and retire will receive transition income as described in the following. The annual payment of $6300 shall be in one
Transition Benefits. In addition to any payments and benefits due to you pursuant to Section 7.05(a) of the Employment Agreement, you will, subject to (and in consideration for) your satisfactory provision of the Transition Services through the Separation Date (as reasonably determined in good faith by the Board), your execution and non-revocation of the Waiver and Release of Claims Agreement attached hereto as Exhibit A (the “Release”) and your continued compliance with the restrictive covenants (as described in Section 3 below), be entitled to receive (i) the payments and benefits set forth in Section 7.05(b) of the Employment Agreement, which shall be subject to the terms of the Employment Agreement and, for the avoidance of doubt, will consist of (a) continued base salary for 12 months following the Separation Date (the “Transition Payment Period”), which equals an aggregate amount of $400,000, less applicable withholdings, and (b) reimbursement during the Transition Payment Period of the Company-paid portion of premium payments, as if you had remained an active employee, for any COBRA coverage that you timely elect, which shall be payable monthly; and (ii) (a) a prorated 2019 annual bonus based on actual individual and Company achievement targets as determined by the Board, which shall be payable within 30 days following the Separation Date, and (b) accelerated vesting of the following outstanding equity awards held by you, each of which, to the extent such award has not otherwise theretofore become vested, shall become vested on the Separation Date: (x) 78,350 options in Funko, Inc., awarded to you on June 27, 2018 under the Company’s 2018 Executive Compensation Plan, and (y) 8,620 restricted stock units, awarded to you on June 27, 2018 under the Company’s 2018 Executive Compensation Plan (the payments and benefits set forth in (i) and (ii), collectively, the “Transition Benefits”). Other than the equity awards described in the immediately preceding sentence, and any that may vest in accordance with their terms prior to the Separation Date, all Company equity-based compensation awards held by you will be forfeited.
Transition Benefits. Provided that the Executive executes and does not revoke this Agreement and complies with this Agreement and the Surviving Provisions (as defined below), in consideration of the Executive’s execution of this Agreement and promises herein, and release of claims against the Company, as described in Section 3 below, the Parties agree as follows:
Transition Benefits. If Executive becomes disabled, as defined in Subsection 6(a) above, Executive’s employment will terminate and the Company will, if reasonably possible, continue Executive’s life, medical, dental, and disability coverage on the policies in existence as of the Termination Date until the earliest of:
(A) Executive’s full-time employment with another employer;
(B) Executive’s death; or
(C) The twelve (12)-month anniversary of the Termination Date.
Transition Benefits. Provided that your employment is not terminated prior to the Transition Date for any reason, during the Transition Period: (i) you will continue to be a Company employee and shall receive payment of your annualized base salary as in effect on the Transition Date, paid in accordance with the Company’s ordinary payroll practices; (ii) you shall continue to participate in any welfare or retirement benefit plans in which you participated as of the Transition Date, subject to the eligibility and other terms and conditions of each such benefit plan; and (iii) your outstanding service-based Parent equity awards will remain outstanding and continue to vest in accordance with their terms based on your continued service to the Company; provided, however, that no vesting will occur unless and until the Effective Date (defined below). The benefits described in this Section 2(a) are referred to herein as the “Transition Benefits.”
Transition Benefits. Effective May 1, 2002 the company will provide Transition Survivor Income Benefits Insurance in the amount of $250 per month, for a period up to a maximum of twelve (12) months, payable to the eligible survivor of an employee who dies on or after May 1, 2002. This amount will be payable in any month in which:
(1) An eligible class “A” survivor has a dependent child as defined in the plan Class A: The spouse of a deceased employee, as defined in the plan
(2) An eligible class “B” survivor survives both parents Class B: Any child as defined in the plan, of the deceased employee, who at the time of Transition Survivor Income Benefit first becomes payable to him is both unmarried and either:
(i) under 18 years of age, or
(ii) totally and permanently disabled at any age over 18; provided, however that this person must have been legally residing with and dependent upon the employee at the time of his death A child shall cease to be a Class B eligible survivor upon marriage, or if not totally and permanently disabled, upon reaching their 18th birthday. No retired employee shall be insured hereunder.
Transition Benefits. Effective upon the later to occur of the Closing and March 1, 2017 (the “Termination Date”), and contingent upon the Closing, Executive shall retire from and terminate employment with Employer and shall be entitled to receive the following payments and benefits (collectively, the “Transition Benefits”):
a. The Severance Benefits as described under the CBOE Holdings, Inc. Executive Severance Plan, as amended and restated effective January 1, 2015 (the “Plan”), which shall be payable in accordance with the terms of the Plan and which, for the avoidance of doubt, shall take into account Item C.4 of Appendix C to the Plan, which provides that Executive’s Salary and Bonus Payment (as defined in the Plan) shall be deemed compensation for purposes of any Retirement Benefit Plan (as defined in the Plan), provided that the Salary and Bonus Payment shall be deemed compensation for purposes of any tax-qualified Retirement Benefit Plan only to the extent permitted by the terms of such Retirement Benefit Plan and by applicable provisions of the Internal Revenue Code;
b. Accelerated vesting in full of any outstanding time-based restricted stock units granted under the Second Amended and Restated CBOE Holdings, Inc. Long-Term Incentive Plan (the “LTIP”) and held by Executive as of the Termination Date;
c. Accelerated vesting of any outstanding performance-based restricted stock units granted under the LTIP and held by Executive as of the Termination Date, prorated for the portion of the performance period completed upon the Termination Date and subject to the attainment of the applicable performance goals through the full performance period;
d. If the long-term incentive award that was approved in February 2016 and the long-term incentive awards that are scheduled to be granted in February 2017 have not been granted as of the Termination Date:
i. In lieu of any such award that would have been granted as time-based restricted stock units, a cash payment equal to the full value of such award, payable within 30 days following the Termination Date; and
ii. In lieu of any such award that would have been granted as performance-based restricted stock units, a cash payment equal to the value of such award, prorated for the portion of the performance period completed upon the Termination Date, subject to the attainment of the applicable performance goals through the full performance period and payable within 60 days after the end of the applicable performance period. If Executive...
Transition Benefits. Effective May 1, 2002 the company will provide Transition Survivor Income Benefits Insurance in the amount of $250 per month (Increase by $150.00 (250.00 to $400.00) – yr 3 August 1, 2018, for a period up to a maximum of twelve (12) months, payable to the eligible survivor of an employee who dies on or after May 1, 2002. This amount will be payable in any month in which:
(1) An eligible class “A” survivor has a dependent child as defined in the plan Class A: The spouse of a deceased employee, as defined in the plan OR
(2) An eligible class “B” survivor survives both parents Class B: Any child as defined in the plan, of the deceased employee, who at the time of Transition Survivor Income Benefit first becomes payable to him is both unmarried and either:
Transition Benefits. Transition Benefits as set forth in Article 36.2 (a) and (b) of the Agreement shall be payable by the contracting out campus.
Transition Benefits. In consideration of Executive's agreement to accept employment with the Company and relocate to Wichita, Kansas, the Company will provide Executive with the following benefits in connection with such transition.
