Benefits Upon Termination Within a Protection Period Sample Clauses

Benefits Upon Termination Within a Protection Period. If, during a Protection Period, the Executive's employment is terminated by the Company other than for Cause or Disability or other than as a result of the Executive's death or if the Executive terminates his employment for Good Reason, the Company shall, subject to Section 7, pay to the Executive in a lump sum in cash within 10 days after the date of termination the aggregate of the following amounts:
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Benefits Upon Termination Within a Protection Period. If, during a Protection Period, the Executive's employment shall be terminated by the Company other than for Cause or Disability or other than as a result of the Executive's death or if the Executive shall terminate his employment for Good Reason, the Company shall provide the following benefits: (a) The Company shall pay to the Executive in a lump sum in cash within 30 days after the date of termination the Executive's full base salary accrued but unpaid through the date of termination at the rate in effect at the time of the termination plus an amount equal to the product of (i) the "Current Year Bonus" for the Executive, which for purposes of this Agreement shall be equal to the greater of (A) the amount of the Executive's bonus under the applicable bonus plan for the most recent fiscal year ending prior to the date of the Change in Control (recognizing any election to receive stock under the Company's Stock Bonus Plan and valuing such stock at the market price thereof on the date received by the Executive) or (B) the target bonus established for the Executive for the fiscal year in which the Change in Control occurs (taking into account any election to receive stock under the Company's Stock Bonus Plan, and valuing such stock at the closing price of the Company's common stock two trading days after the date of the public announcement of the Change in Control), multiplied by (ii) a fraction, the numerator of which is the number of days in such fiscal year through the date of termination and the denominator of which is 365; and 3 4 (b) The Company shall pay to the Executive in a lump sum in cash within 30 days after the date of termination a severance payment in an amount equal to 100% of the Executive's "Annual Compensation." For purposes of this Agreement, "Annual Compensation" shall be an amount equal to the aggregate of the Executive's annual cash compensation (other than bonus) from the Company and its Subsidiaries, whether paid currently or deferred in effect immediately prior to the date of termination or Change in Control (whichever is greater) plus the Current Year Bonus as of the year in which the Change in Control occurs; and (c) Within 30 days after the date of termination, upon surrender by the Executive of his outstanding options to purchase common shares of the Company ("Common Shares") granted to the Executive pursuant to the stock option plans of the Company, but not including any non-vested stock options granted on November 13, 1993 or ...
Sample 1
Benefits Upon Termination Within a Protection Period. If, during a Protection Period, 1) the Company terminates the Executive’s employment other than for Cause or Disability or other than as a result of the Executive’s death, or 2) upon the expiration of Executive’s Employment Period, Company fails to extend to Executive an offer of continued employment with Company for period of at least three (3) months, at a total minimum annual compensation rate of $160,000.00, and provided Executive executes on the date of her termination of employment an Addendum to this Agreement wherein she ratifies all the provisions of this Agreement and agrees that she shall be legally bound by all releases and all other terms set forth in this Agreement as of the date of Executive’s termination of employment, the Company shall, subject to Section 9, pay to the Executive in a lump sum in cash, within 10 days after the date of termination, the aggregate of the following amounts:
Sample 1

Related to Benefits Upon Termination Within a Protection Period

  • Benefits Upon Termination If the Executive’s employment by the Company is terminated during the Period of Employment for any reason by the Company or by the Executive, or upon or following the expiration of the Period of Employment (in any case, the date that the Executive’s employment by the Company terminates is referred to as the “Severance Date”), the Company shall have no further obligation to make or provide to the Executive, and the Executive shall have no further right to receive or obtain from the Company, any payments or benefits except as follows:

  • Procedure Upon Termination In the event of termination by Buyer or Seller, as applicable, pursuant to Section 6.1 hereof, written notice thereof shall forthwith be given to the other party and the transactions contemplated by this Agreement shall be terminated without further action by Buyer or Seller. If the transactions contemplated by this Agreement are so terminated:

  • Recovery upon Termination H6.1 On the termination of the Contract for any reason, the Contractor shall at its cost:

  • Compensation and Benefits Upon Termination (a) If Executive’s employment is terminated by reason of death or Disability, the Company shall pay Executive’s Base Salary, at the rate then in effect, in accordance with the payroll policies of the Company, through the date of such termination (in the event of Executive’s death, the payments will be made to Executive’s beneficiaries or legal representatives) and Executive shall not be entitled to any further Base Salary or any applicable bonus, benefits or other compensation for that year or any future year, except as may be provided in Sections 5(d) or (e) below or an applicable benefit plan or program, or to any severance compensation of any kind, nature or amount.

  • PAYMENTS AND BENEFITS UPON TERMINATION (a) If within eighteen (18) months after a Change in Control, the Company terminates Employee's employment other than by reason of Employee's death, Disability, Retirement or for Cause, or if Employee terminates Employee's employment for Good Reason, then the Employee shall be entitled to the following payments and benefits:

  • Compensation Upon Termination Upon termination of Executive’s employment during the Employment Term, Executive shall be entitled to the following benefits:

  • Benefits Upon Termination of Employment If the Executive is entitled to benefits pursuant to this Section 2, the Company agrees to pay or provide to the Executive as severance payment, the following:

  • Benefits Upon Plan Termination In the event this Long-Term Disability Plan is terminated, the benefit payments shall continue to be paid in accordance with the provisions of this Plan to disabled employees who became disabled while covered by this Plan prior to its termination.

  • Vacation Pay Upon Termination When an employee in the bargaining unit is terminated for any reason, he/she shall be entitled to all vacation pay earned and accumulated up to and including the effective date of the termination.

  • Payments Upon Termination 4.1 The Customer shall pay the Company liquidated damages (total monthly fee as specified in the Sales and Services Agreement x remaining months in the Term) upon the occurrence of any of the following events before the expiry of the Term:

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