Upon Termination Without Cause. In the event of termination of employment by the Bank without Cause, the Bank shall pay Employee severance in the form of salary continuation at Employee’s base salary rate then in effect from the date of termination through and until the expiration of the Term, payable at regular intervals in accordance with the Bank’s normal payroll practices in effect from time to time. The date of termination specified in any notice of termination provided pursuant to Section 6(d) without Cause shall be no earlier than thirty (30) days following the date of delivery of such notice, determined in accordance with Section 11.
Upon Termination Without Cause. Pursuant to 6(b)
Upon Termination Without Cause. (a) Notwithstanding anything in Section 1.3 to the contrary, if Employee’s employment is terminated by the Company without Cause, subject to the execution and delivery to the Company of a general release and continued compliance with the Nondisclosure and Noncompetition Agreement with the Company as described in Section 1(c) of the Letter Agreement, the Company will pay Employee an amount equal to the LTI Bonus based upon the achievement of performance measures, as determined by the Committee, for each year of the Performance Periods completed prior to the termination or if any year of the Performance Periods is not completed, assuming the matrix performance factors were 1.0 for that year.
(b) The amounts payable under Section 1.4(a) shall be paid in a lump sum no later than the first regular payroll date following the date of termination, subject to applicable tax withholding.
(c) For purposes of this Agreement, “termination of employment” shall be interpreted consistent with the term “separation from service” within the meaning of Treas. Reg. §1.409A-1(h).
(d) If Employee’s employment is terminated by the Company without Cause on the date of a Change in Control, Employee shall be entitled to the amounts under Section 1.5 in lieu of this Section 1.4. Upon payment to Employee of amounts under either Section 1.4 or Section 1.5, Employee shall have no further rights to the payment of the LTI Bonus and in no case shall Employee be entitled to amounts under both Section 1.4 and Section 1.5.
Upon Termination Without Cause. In the event of termination by Company pursuant to Section 7.1 of this Agreement ("Termination by Either Party Without Cause"), the Executive shall be entitled to receive Salary (a) through the period ending on the date which is three months after the date of termination specified in the Company's termination notice, provided that such date of termination occurs on or before May 31, 1997 or (b) through the date of termination specified in the Company's termination notice, if such date of termination occurs after May 31, 1997. In the event of termination by Executive pursuant to Section 7.1 of this Agreement, Executive shall receive Salary through the effective date of such termination."
Upon Termination Without Cause other than following a Change of Control, Employee will be entitled to a severance payment equal to the amount of salary that would be payable to Employee through the term of this Agreement at his then effective salary had he not been so terminated in equal monthly installments for the longer of one year from the date of the notice of termination or the second anniversary date of the Effective Date.
Upon Termination Without Cause. Executive shall be entitled to the following Severance benefits (“Severance”).
Upon Termination Without Cause the Employer shall promptly pay Employee all accrued compensation (including accrued vacation pay) and benefits as of the date of Termination Without Cause and all accrued expenses which are unpaid at the date of Termination Without Cause. Additionally, the Employer shall pay to the Employee, a lump sum on the first regularly scheduled payday of the Employer which follows the effective date of such termination, an amount equal to two (2) times the average of the sum of amounts paid to the Employee for salary, bonus, including any amount received as Plan confirmation bonus, and profit sharing for the five fiscal years immediately preceding the effective date of the Termination Without Cause. Any amounts paid to Employee pursuant to this paragraph shall be subject to any applicable federal, state and local income tax withholding.
Upon Termination Without Cause. If the Company terminates the employment of Executive without Cause pursuant to Section 4.3(c) (which, for clarification, is deemed not to include a termination due to Total Disability or a termination for Cause), then Executive will only be entitled to (1) Base Termination Obligations (which will be paid as they come due in the ordinary course), (2) salary continuation during the Salary Continuation Period based on the Base Salary in effect at the time of termination, payable in accordance with the Company’s payroll practices; and (3) a pro rata portion of the Annual Bonus in respect of the fiscal year of the date of termination, provided that Executive has worked at least six (6) months during such fiscal year.
Upon Termination Without Cause. If the Company terminates your employment without Cause and such termination results in a “separation from service” with the Company within the meaning of Treasury Regulation Section 1.409A-1(h) (without regard to any permissible alternative definition of “termination of employment” thereunder) (a “Covered Termination”), you will be eligible to receive severance in an amount equal to one (1) year of your above-listed base salary (i.e., $250,000), less applicable withholdings and deductions.
Upon Termination Without Cause. In the event of termination by Company pursuant to Section 7.1 of this Agreement ("Termination by Either Party Without Cause"), the Executive shall be entitled to receive Salary (a) for the period ending on the date which is three months after the date of termination specified in the Company's termination notice, provided that such date of termination occurs on or before December 31, 1997, which amount shall be paid to Executive in a single lump sum within ten (10) days of the date of termination or (b) through the date of termination specified in the Company's termination notice, if such date of termination occurs after December 31, 1997. In the event of termination by Executive pursuant to Section 7.1 of this Agreement, Executive shall receive Salary through the effective date of such termination."
