Examples of Company Severance Plan in a sentence
In addition to the other payments specified in this letter agreement, you may be eligible for special severance payments pursuant to either (A) or (B) below (note that should you become reemployed by Xxxxxxx-Xxxxx Squibb or any of its affiliates following your receipt of severance payments, you may be obligated to repay a portion of any severance payments as required by the Xxxxxxx-Xxxxx Squibb Company Severance Plan ("BMS Severance Plan")).
Following the Distribution Time, the Company shall be responsible for any and all Liabilities and other obligations with respect to the Company Severance Plan, and SpinCo shall be responsible for any and all Liabilities and other obligations with respect to the SpinCo Severance Plan.
The Parties hereto agree that none of the transactions contemplated by the Separation Agreement, the Merger Agreement, or this Agreement, constitutes a “change in control,” “change of control” or similar term, as applicable, within the meaning of any Benefit Plan, the Company Equity Plan, the SpinCo Equity Plans, the Company Severance Plan, any Company Individual Agreement or any other compensatory agreement or arrangement maintained by the Company or SpinCo.
On the First Payment Date, Parent will cause the Company to pay to you a lump sum payment of Severance Pay (as defined in the Company Severance Plan) in the amount of $1,820,499.00 and the Gross-Up Payment (as defined in the Company's Employee Severance Plan) determined in accordance with the applicable terms of the Employee Severance Plan.
Xxxxxxxxxxxxx, Ph.D. February 21, 2001 Page 4 any of its affiliates following your receipt of severance payments, you may be obligated to repay a portion of any severance payments as required by the Xxxxxxx-Xxxxx Squibb Company Severance Plan ("BMS Severance Plan")).