Additional Severance Compensation Sample Clauses

Additional Severance Compensation. In exchange for the execution of this Agreement and continued compliance with the Continuing Obligations (as defined in Section 14 herein), Executive will be entitled to the severance payments and benefits set forth below in conformance with Sections 5.2(a)(i)-(v) of the Severance Agreement (the "Release Consideration"):

Additional Severance Compensation. The Company has provided, or Buyer will cause the Company to provide, Darr▇▇ ▇▇▇▇▇▇▇▇ and Loui▇ ▇▇▇▇▇ ▇▇▇h their loan officer commissions, overrides and other normal severance compensation (not including any continuation of salary beyond the dates on which their respective employments with the Company terminated) for loans closed on or before January 31, 1997, on the same basis and at the same times as they have been paid such amounts in the past. In addition, Buyer will cause the Company to pay $20,000 in additional severance compensation to each of Darr▇▇ ▇▇▇▇▇▇▇▇ and Loui▇ ▇▇▇▇▇ ▇▇ or before July 1, 1997. Also, the Company has provided, or Buyer will cause the Company to provide, Jay ▇▇▇▇▇▇ ▇▇▇ Jeff ▇▇▇▇▇ ▇▇▇h their loan officer commissions, overrides and other normal severance compensation (not including any continuation of salary beyond the dates on which their respective employments with the Company terminate) for loans closed on or before 30 days after the termination of their employment with the Company if they are offered employment in Seller's Business (as defined in Section 3.6) and agree to be so employed, on the same basis and at the same times as they have been paid such amounts in the past.

Additional Severance Compensation. (a) Following the Effective Date, and subject to (i) the Executive’s timely execution of the Release within sixty (60) days of the Effective Date and (ii) the Executive not terminating his employment with UWW for any reason prior to the Effective Date, Executive will receive an additional severance payment equal to $3,000,000 in total (the “Additional Severance”) payable pro-rata in monthly installments over the two (2) year period following the Effective Date. Any amounts payable pursuant to this paragraph 4(a) shall not be paid until the first scheduled payment date following the date the Release is executed and no longer subject to revocation, with the first such payment being in an amount equal to the total amount to which Executive would otherwise have been entitled during the period following the Effective Date if such deferral had not been required; provided, however, that any such amounts that constitute nonqualified deferred compensation within the meaning of Internal Revenue Code Section 409A and the regulations and official guidance promulgated thereunder (“Code Section 409A”) shall not be paid until the 60th day following the Effective Date to the extent necessary to avoid adverse tax consequences under Code Section 409A, and, if such payments are required to be so deferred, the first payment shall be in an amount equal to the total amount to which Executive would otherwise have been entitled during the period following the Effective Date if such deferral had not been required. (b) Except as otherwise expressly provided herein, Executive shall not be entitled to any compensation from the Company or its Subsidiaries after the Effective Date. (c) Executive is under no obligation to mitigate damages or the amount of any payment provided for hereunder by seeking other employment or otherwise. (d) The Company may offset any amounts Executive owes it or any of its Subsidiaries against any amounts the Company or its Subsidiaries owes Executive hereunder, provided, however that in no event shall any payment under this Agreement that constitutes “nonqualified deferred compensation” for purposes of Code Section 409A be subject to offset by any other amount unless otherwise permitted by Code Section 409A.

Additional Severance Compensation. The following is added immediately before the last sentence in Section 2(a) of the Agreement: "The Company will also pay up to $6,000 of ▇▇. ▇▇▇▇▇▇▇▇▇'▇ attorneys' fees incurred in connection with the Agreement. The Company will also make available to ▇▇. ▇▇▇▇▇▇▇▇▇, professional level outplacement services, at a cost to the Company not to exceed $5,000."

Additional Severance Compensation. The Company shall pay you an additional payment in the gross amount of $200,000. This payment shall be paid (if at all) in the form of one lump sum on the Company’s next regular payday after the seven (7) day revocation period which follows the date you sign this Agreement. This payment shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective heirs, legal representatives, successors, and assigns.

Additional Severance Compensation. AutoNation shall pay to Executive an additional severance payment in the total amount of Ten Thousand One Hundred Eighty-Seven Dollars and Fifty-Four Cents ($10,187.54), less applicable taxes and withholdings. This additional severance payment is equal to the cost of health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), not grossed up for taxes, based on Executive’s health and/or dental elections as of April 1, 2003 and an eleven (11) month period. Executive is not required to elect COBRA (as more fully explained in Paragraph 4 herein). This additional severance payment will be disbursed in a lump sum no later than fourteen (14) calendar days after Executive has signed and returned this Agreement to the Company and the revocation period provided in this Agreement has expired.