Entitlement to Severance. Subject to the other terms and conditions of this Agreement, Executive shall be entitled to the Accrued Benefits, and to the severance benefits described in subsection (c), in either of the following circumstances while this Agreement is in effect:
Entitlement to Severance. (a) If the Employee becomes entitled to receive any severance payments or benefits described in Section 3 or Section 4 after the Employee has delivered written notice of what would otherwise have been a Qualifying Retirement to the Partnership had the Employee continued to be employed by the Partnership through the date of retirement set forth in the notice, then the amount of such payments and benefits shall be limited to (i) those that the Employee would have otherwise received had such employment continued through such date of retirement, and (ii) those provided by Section 9, if any.
Entitlement to Severance. If the Employee dies after receiving a notice by the Company that the Employee is being terminated without Cause, or after providing notice of termination for Good Reason, but prior to the date the Employee receives the payments and benefits described in Section 3 or Section 4, as the case may be, then the Employee’s estate, heirs and beneficiaries shall be entitled to the payments and benefits described in Section 3 or Section 4, as the case may be, at the same time such payments and benefits would have been paid or provided to the Employee had the Employee lived.
Entitlement to Severance. (a) Notwithstanding anything to the contrary, if the Employee delivers written notice on or after January 1, 2017, of what would otherwise have been a Qualifying Retirement to the Partnership had the Employee continued to be employed by the Partnership through the date of retirement set forth in the notice, and if the Employee becomes entitled to receive any severance payments or benefits described in Section 3 or Section 4 after the Employee has delivered such written notice, then the amount of such payments and benefits shall be limited to (i) those that the Employee would have otherwise received had such employment continued through such date of retirement, and (ii) those provided by Section 9, if any.
Entitlement to Severance. Subject to the other terms and conditions of this Agreement, upon the Executive’s Termination of Employment, the Executive shall be entitled to the Accrued Benefits, and if the Executive’s employment is terminated by the Company without Cause (other than as a result of death or Disability) to the severance payments described in subsection 5 (c). If the Executive dies after receiving a notice by the Company that the Executive is being terminated without Cause, then the Executive’s estate, heirs and beneficiaries shall be entitled to the Accrued Benefits and the severance benefits described in subsection (c) at the same time such amounts would have been paid or benefits provided to the Executive had he or she lived.
Entitlement to Severance. You will remain an at-will employee during the entire time you are employed by Dell, including during the term of this Agreement, and thereafter. Notwithstanding this, during the term of this Agreement, you will be entitled to severance in the amount listed in the Severance Table (below) for the applicable period in which your employment ends, if and only if: (1) you are involuntarily terminated from Dell without good cause, or (2) you resign from Dell with good reason. These terms will have the meaning ascribed to them below. Notwithstanding anything in this Agreement, you will not be entitled to any severance under the terms of this Agreement, should your employment with Dell end due to your (1) death or disability1, (2) resignation without good reason, or (3) termination for good cause. Severance Table If your termination date falls between: Amount of Severance (less taxes and withholdings) February 1, 2007 and January 31, 2008 $12 million February 1, 2008 and January 31, 2009 $10 million February 1, 2009 and January 31, 2010 $8 million February 1, 2010 and January 31, 2011 $6 million February 1, 2011 and January 31, 2012 $4 million 1 Any entitlement to benefits, or acceleration of stock units, stock options or cash award amounts, upon your death or permanent disability, will be determined by the terms and conditions of the Dell policies, plans and agreements applicable to those benefits, stock units, stock options and cash awards. Dell Confidential Mxxxxxx X. Xxxxxx Offer Letter February 12, 2007 Page 2 Definitions You will be considered involuntarily terminated from Dell without good cause if Dell terminates your employment, during the term of this Agreement, for any reason other than: (a) a violation of your obligations regarding Dell’s confidentiality, proprietary information and trade secrets; (b) an act or omission by you resulting in your being charged with a criminal offense involving moral turpitude, dishonesty or breach of trust; (c) conduct by you which constitutes a felony or a plea of guilty or nolo contendere with respect to a felony under applicable law; (d) conduct by you that constitutes gross neglect; (e) your insubordination or refusal to implement directives of your manager; (f) your breach of a fiduciary duty to Dell, its affiliates or their shareholders; (g) your gross negligence in the performance of your job duties, (h) willful or repeated failure to perform your assigned job duties or duties under your agreements with Dell; (i) ...
Entitlement to Severance. The Executive shall be entitled to receive severance payments in an amount equal to one year of the Executive’s then current annual base salary, payable over a period of twelve (12) months in accordance with the Company’s normal payroll practices, starting forty-six (46) days following his Separation from Service. Notwithstanding the foregoing, if at the time of the Executive’s Separation from Service he is a Specified Employee, and if the amount payable to the Executive during the first six months following his Separation from Service under this subsection (b) would exceed the lesser of two (2) times (i) the Executive’s annual base salary for the year prior to the year of his Separation from Service or (ii) the compensation limit in effect under Code Section 401(a)(17) for the year in which his Separation from Service occurs (the “Six Month Severance Limit”), then the severance benefits paid during the first six (6) months following the Executive’s Separation from Service shall be limited to the Six Month Severance Limit, and the excess amount that would have been paid during such six (6)-month period but for such limit shall be accumulated and paid in a lump sum on the day immediately following the date that is six (6) months after the Executive’s Separation from Service.
Entitlement to Severance. You will remain an at-will employee during the entire time you are employed by Dell, including during the term of this Agreement, and thereafter. Notwithstanding this, during the term of this Agreement, you will be entitled to severance in the amount listed in the Severance Table (below) for the applicable period in which your employment ends, if and only if: (1) you are involuntarily terminated from Dell without good cause, or (2) you resign from Dell with good reason. These terms will have the meaning ascribed to them below. Notwithstanding anything in this Agreement, you will not be entitled to any severance under the terms of this Agreement, should your employment with Dell end due to any reason other than those expressly enumerated above. Severance Table If your termination date falls between: Amount of Severance (less taxes and withholdings) February 1, 2007 and January 31, 2008 $12 million February 1, 2008 and January 31, 2009 $10 million February 1, 2009 and January 31, 2010 $8 million February 1, 2010 and January 31, 2011 $6 million February 1, 2011 and January 31, 2012 $4 million Definitions You will be considered involuntarily terminated from Dell without good cause if Dell terminates your employment, during the term of this Agreement, for any reason other than: (a) a violation of your obligations regarding Dell’s confidentiality, proprietary information and trade secrets; (b) an act or Dell Confidential
Entitlement to Severance. Benefit (a) (ii) shall be deleted in its entirety and replaced with the following: “an amount equal to two (2) full years of Executive’s Base Salary, at the rate in effect on the date of termination of Executive’s employment (or in the event a reduction in Base salary is a basis for a termination by Executive for Good Reason, then the Base Salary in effect immediately prior to such reduction), payable in a cash lump sum not later than thirty (30) days following Executive’s termination of employment;”
Entitlement to Severance. Benefit (a) (iv) shall be deleted in its entirety and replaced with the following: “an amount equal to two (2) times the annual bonus Executive would earn for the fiscal year of termination if the Company’s financial performance targets were deemed to be satisfied at the level equal to the financial performance achieved through the date of termination, or, if greater, two (2) times any performance bonus Executive is guaranteed to receive for the fiscal year under the terms of his employment agreement, payable in a cash lump sum not later than thirty (30) days following Executive’s termination of employment;”
