BENEFITS UPON TERMINATION definition
BENEFITS UPON TERMINATION. If your employment is terminated for any reason other than those set out above, you will be entitled to that portion of your Employer Accounts in which you are vested.
BENEFITS UPON TERMINATION. Notwithstanding the provisions of Section 9(c), in the event that the Employee is terminated without Cause as a result of a Change of Control (as hereinafter defined), the Employee shall be entitled to the following benefits:
(i) For a period equal to the greater of (A) one year from the date of such termination, or (B) the remainder of the term of this Agreement, the Company shall continue to pay to the Employee, or to the Employee's designated beneficiary (or to his estate if he fails to make such designation) the Employee's salary at the rate of his last Salary in effect as of the date of such termination, and
(ii) The Company shall maintain in effect for the Employee for a period equal to the grater of (A) one year from the date of such termination, or (B) the remainder of the term of this Agreement, at its sole expense and on terms of participation substantially the same as those in effect prior to such termination, all group insurance and all other employee benefit plans, programs or arrangement, in which the Employee was participating immediately prior to such termination except for any revenue sharing programs based on corporate performance.
Examples of BENEFITS UPON TERMINATION in a sentence
CESSATION OF BENEFITS UPON TERMINATION OF EMPLOYMENT 150 43 SECTION 6.
DETERMINATION OF BENEFITS UPON TERMINATION: if a Participant/s employment terminates for any reason other than retirement, death, or Total and Permanent Disability, and the Participant's Vested Account balance from Employer and Participant contributions is not greater than $3,500, the Administrator shall direct the Trustee to distribute the value of the entire Vested portion of such Account balance and the non-Vested portion will be treated as a Forfeiture.