Severance Termination Date definition

Severance Termination Date means the earlier of the date which is one year and six months after the Termination Date or, so long as a Sale of the Company has not occurred prior to the Termination Date, December 31, 2004; provided that in no event will the Severance Termination Date be earlier than the first anniversary of the Termination Date. The Termination Bonus Amount shall be payable in equal monthly increments over the period from the date of determination thereof through the Severance Termination Date, and shall be paid contemporaneously with payment of Base Salary during such period. After payment of the severance amounts described in this Section 11(d), Publishing shall have no obligation to make any further severance or other payment or provide any other benefit to or on behalf of Executive. Notwithstanding the foregoing, in the event that Executive shall breach any of Executive's obligations under any of Sections 13, 14 and 15 of this Agreement (except any breach which Executive carries the burden of proving is solely of a technical nature, is immaterial and was inadvertent), then, in addition to any other rights that Publishing or the Company may have under this Agreement or otherwise, Publishing shall be relieved from and shall have no further obligation to pay Executive any amounts to which Executive would otherwise be entitled pursuant to this Section 11.
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Severance Termination Date means the earlier to occur of: (a) Employee’s death, and (b) the later to occur of: (i) one year from the date of termination of employment and (ii) December 31, 2008.
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Examples of Severance Termination Date in a sentence

  • The Termination Bonus Amount shall be payable in equal monthly increments over the period from the date of determination thereof through the Severance Termination Date, and shall be paid contemporaneously with payment of Base Salary during such period.

  • For purposes hereof, "Severance Termination Date" means the earlier of the date which is one year and six months after the Termination Date or, so long as a Sale of the Company has not occurred prior to the Termination Date, December 31, 2004; provided that in no event will the Severance Termination Date be earlier than the first anniversary of the Termination Date.

  • Grainger will continue to provide, through deductions from the Officer’s Separation Payments at the same rate paid by employees, group health, dental and vision benefits and life insurance as currently maintained for the Officer, or as subsequently modified by Grainger, through the Severance Termination Date.

  • Further, through the Severance Termination Date, the Officer agrees to fully comply with all policies of Grainger regarding confidential or trade secret information, inasmuch as the Officer is receiving Separation Pay from Grainger.

  • The parties agree that the Employment Agreement shall terminate and have no further force and effect as of the Effective Date, except as follows: (a) to the extent such Sections are referenced in Section 2 hereof, Sections 2.3, 2.4 and 3.6 of the Employment Agreement shall remain in effect until the Severance Termination Date; and (b) Sections 4, 5.1 and 5.4 of the Employment Agreement will remain in effect in accordance with the terms thereof and Section 4 of this Agreement.

  • After the Severance Termination Date, the Officer will be eligible for distribution of his vested funds in accordance with the terms of PST and SPSP applicable to Plan participants.

  • The Officer shall be eligible to buy products that Grainger sells to its employees pursuant to the provisions of the Employee Purchase Program, with the benefit of the discounts offered by Grainger to its employees under such Program, through the Severance Termination Date.

  • Any amount due to the Officer as a result of his participation in the Plan and in accordance with the Plan’s procedures will be paid as soon as practicable following the Severance Termination Date.

  • The Officer agrees that he will not apply for unemployment benefits while he continues to receive Separation Payments through the Severance Termination Date or at any time in the future that would otherwise be chargeable to Grainger’s unemployment insurance account.

  • Subsequent to the Severance Termination Date, the Officer shall be eligible to receive benefit payments that the Officer had previously elected to defer under the Executive Deferred Compensation Plan, in accordance with the terms of that Plan.