Consequences for Compensation and Benefits Sample Clauses

Consequences for Compensation and Benefits. (a) If the Termination Date occurs by reason of disability, death, General Resignation or Discharge for Cause, the Company shall pay compensation to the Executive through the Termination Date and shall pay to the Executive all Benefits accrued through the Termination Date, payable in accordance with the respective terms of the plans, practices and arrangements under which the Benefits were accrued.
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Consequences for Compensation and Benefits. (a) If the Termination Date occurs by reason of disability, death, General Resignation or Discharge for Cause, the Company shall pay compensation to the Employee through the Termination Date and shall pay to the Employee all Benefits accrued through the Termination Date, payable in accordance with the respective terms of the plans, practices and arrangements under which the Benefits were accrued. If the Termination Date occurs by reason of General Discharge or Resignation with Reason, (i) all stock options held by the Employee shall become immediately exercisable and shall remain exercisable for no less than 30 days after the Termination Date, (ii) the Company shall continue the health coverage contemplated by Section 4.1 through the twenty-four month anniversary of the Termination Date, (iii) the Company shall engage for the Employee, at the Company's expense, outplacement services appropriate to the Employee's position, for up to twelve months after the Termination Date, (iv) in the event that the Termination Date occurs by reason of General Discharge or Resignation with Reason other than in connection with a Change in Control, the Employee shall be paid, within 15 days after the Termination Date, an amount in cash equal to the present value, calculated using the Pension Benefit Guaranty Corporation immediate discount rate for valuing benefits upon plan termination, of the product of the sum of (A) the Employee's annual base salary at the Termination Date plus (B) the maximum target bonus established by the Compensation Committee for the year in which the Termination Date occurs, multiplied by two; and (v) in the event that the Termination Date occurs by reason of a Resignation with Reason in connection with a Change in Control, the Employee shall be paid, within 15 days after the Termination Date, an amount in cash equal to the sum of (A) the Employee's annual base salary at the Termination Date plus (B) the maximum target bonus established by the Compensation Committee for the year in which the Termination Date occurs.
Sample 1
Consequences for Compensation and Benefits. On Termination as a result of a voluntary resignation or Discharge for Cause, the Company shall pay base salary to the Employee through the Termination Date, and shall pay to the Employee all Benefits accrued through the Termination Date, payable in accordance with the respective terms of the plans, practices and arrangements under which the Benefits were accrued, but shall pay no cash bonus for the fiscal year in which the Termination Date occurs. On a Termination due to the Employee's death or disability, the Company shall continue to pay, at its option, base salary or a lump sum equivalent to Employee or his estate. The Company will obtain adequate disability and life insurance to secure such payments and will provide Employee evidence of such coverage during the term of this Agreement.
Sample 1
Consequences for Compensation and Benefits. If the Termination Date occurs by reason of disability, death, General Resignation or Discharge for Cause, the Company shall pay compensation to the Executive through the Termination Date and shall pay to the Executive all Benefits accrued through the Termination Date, payable in accordance with the respective terms of the plans, practices and arrangements under which the Benefits were accrued. If the Termination Date occurs by reason of General Discharge or Resignation with Reason, the Company shall pay Base Salary and Benefits until the first to occur of (a) Receipt of Earned Income, or (b) the first anniversary of the Termination Date.
Sample 1
Consequences for Compensation and Benefits. If the Termination Date occurs by reason of disability, death, General Resignation or Discharge for Cause, the Company shall pay compensation to the Executive through the Termination Date (including accrued vacation and a prorated portion of the Executive's accrued bonus and incentive compensation) and shall pay to the Executive all Benefits accrued through the Termination Date, payable in accordance with the respective terms of the plans, practices and arrangements under which the Benefits were accrued. If the Termination Date occurs by reason of General Discharge or Resignation with Reason, the Company shall pay to the Executive, in addition to the amounts described in the preceding paragraph, an amount equal to one times the Executive's annual Base Salary and Benefits; such amount shall not be reduced by the receipt of Earned Income through subsequent employment and shall be paid in two equal installments. The first installment shall be paid immediately and the second installment shall be paid six months thereafter.
Sample 1
Consequences for Compensation and Benefits. If the Termination Date occurs pursuant to Section 4.1.1, 4.1.2, 4.1.3 or 4.1.5, the Company shall pay base salary to the Employee through the Termination Date and shall pay to the Employee all Benefits accrued through the Termination Date, payable in accordance with the respective terms of the plans, practices and arrangements under which the Benefits were accrued. If termination of employment occurs pursuant to Section 4.1.4 or 4.1.6, the Employee shall be entitled to receive compensation on the same terms and conditions (including but not limited to the Stock Option program) as set forth herein for a period of three years from the Termination Date, continuation of all health and medical benefits until Employee becomes eligible under another plan with a subsequent employer.
Sample 1
Consequences for Compensation and Benefits. If the Termination Date occurs by reason of disability, death, General Resignation or Discharge for Cause, the Company shall pay compensation to the Employee through the Termination Date and shall pay to the Employee all Benefits accrued through the Termination Date, payable in accordance with the respective terms of the plans, practices and arrangements under which the Benefits were accrued. If the Termination Date occurs by reason of General Discharge or Resignation with Reason, (a) all stock options held by the Employee shall become immediately exercisable and shall remain exercisable for 30 days after the Termination Date, (b) the Company shall continue the health coverage contemplated by Section 4.1 through the date that falls on the later of July 1, 2003 or the six month anniversary of the Termination Date, (c) the Company shall engage for the Employee, at the Company's expense, outplacement services appropriate to the Employee's position, for up to twelve months after the Termination Date, and (d) the Employee shall be entitled to receive, within 60 days after the Termination Date, the amount set forth in Section 5.2.1 or, if Section 5.2.2 is applicable and yields an amount equal to more than 90% of the amount set forth in Section 5.2.1 net after all applicable taxes, the amount set forth in Section 5.2.2.
Sample 1
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Consequences for Compensation and Benefits. (a) If the Termination Date occurs by reason of disability, death, General Resignation or Discharge for Cause, the Company shall pay or provide, as the case may be, (i) any Base Salary earned but unpaid to the Executive through the Termination Date, (ii) all benefits accrued and owing to the Executive through the Termination Date, payable in accordance with the respective terms of the plans, practices and arrangements under which the benefits were accrued, and (iii) any unpaid reimbursements for reasonable expenses incurred but not paid prior to the Termination Date so long as documentation thereof is submitted to the Company within thirty (30) days following the Termination Date.
Sample 1
Consequences for Compensation and Benefits. If the Termination Date occurs by reason of disability, death, General Resignation or Discharge for Cause, the Company shall pay compensation to the Employee through the Termination Date and shall pay to the Employee all Benefits accrued through the Termination Date, payable in accordance with the respective terms of the plans, practices and arrangements under which the Benefits were accrued. If the Termination Date occurs by reason of General Discharge or Resignation with Reason, (a) all stock options held by the Employee shall become immediately exercisable and shall remain exercisable for 30 days after the Termination Date, (b) the Company shall continue the health coverage contemplated by Section 4.1 through the date that falls on the later of July 1, 2001 or the six month anniversary of the Termination Date, (c) the Company shall engage for the Employee, at the Company's expense, outplacement services appropriate to the Employee's position, for up to twelve months after the Termination Date, and (d) the Employee shall be entitled to receive, within 60 days after the Termination Date, the amount equal to the sum of (i) the Employee's annual base salary at the Termination Date PLUS (ii) the maximum target bonus established by the Compensation Committee for the year in which the Termination Date occurs. A Change in Control of the Company shall be deemed to have occurred for purposes of this Agreement upon the first to occur of the date when (a) persons who were Directors of the Company on July 1, 1998 no longer constitute a majority of the Board of Directors of the Company or (b) a person "beneficially owns" (as defined in Rule 13d-3 promulgated under the Securities Exchange Act of 1934) in the aggregate 50% or more of the outstanding shares of capital stock entitled to vote generally in the election of the Directors of the Company. If the payments made pursuant to this Section 5.2 give rise to an excise tax under Section 4999 of the Internal Revenue Code of 1986, the Company shall also pay to the Employee or directly to the Internal Revenue Service in a timely fashion an amount sufficient, after federal and state income taxes, to pay the excise tax so payable and all directly related interest and penalties (whether reported initially or subsequently assessed). In the event of a dispute between the Company and the Employee with respect to the amount contemplated by the preceding sentence, the matter shall be determined (at the Company's expense) by an in...
Sample 1

Related to Consequences for Compensation and Benefits

  • Compensation and Benefits As compensation for all services performed by the Executive under and during the term hereof and subject to performance of the Executive’s duties and of the obligations of the Executive to the Company and its Affiliates, pursuant to this Agreement or otherwise:

  • Other Compensation and Benefits Except as may be provided under this Agreement,

  • ADDITIONAL COMPENSATION AND BENEFITS The Executive shall receive the following additional compensation and welfare and fringe benefits:

  • Accrued Compensation and Benefits Notwithstanding anything to the contrary in Section 2 and 3 above, in connection with any termination of employment upon or following a Change in Control (whether or not a Qualifying Termination or CIC Qualifying Termination), the Company or its subsidiary shall pay Executive’s earned but unpaid base salary and other vested but unpaid cash entitlements for the period through and including the termination of employment, including unused earned vacation pay and unreimbursed documented business expenses incurred by Executive prior to the date of termination (collectively “Accrued Compensation and Expenses”), as required by law and the applicable Company or its subsidiary, as applicable, plan or policy. In addition, Executive shall be entitled to any other vested benefits earned by Executive for the period through and including the termination date of Executive’s employment under any other employee benefit plans and arrangements maintained by the Company or its subsidiary, as applicable, in accordance with the terms of such plans and arrangements, except as modified herein (collectively “Accrued Benefits”). Any Accrued Compensation and Expenses to which the Executive is entitled shall be paid to the Executive in cash as soon as administratively practicable after the termination, and, in any event, no later than two and one-half (2-1/2) months after the end of the taxable year of the Executive in which the termination occurs or at such earlier time as may be required by applicable law or Section 10 below, and to such lesser extent as may be mandated by Section 9 below. Any Accrued Benefits to which the Executive is entitled shall be paid to the Executive as provided in the relevant plans and arrangements.

  • 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.

  • Exclusivity of Salary and Benefits The Executive shall not be entitled to any payments or benefits other than those provided under this Agreement.

  • REMUNERATION AND BENEFITS 3.1 Manitoba shall pay to Employee as remuneration for her services, within the Executive Assistant to the Minister (EXM) classification, a basic annual salary of $58,271 payable in equal bi-weekly installments of $2,233.73, at the accepted regular Manitoba Civil Service pay periods, pro-rated where necessary for any shorter period.

  • Compensation and Benefit Plans Except as required by applicable Law, the Company shall not and shall not permit its Subsidiaries to: (i) increase the wages, salaries, or incentive compensation or incentive compensation opportunities of any director, officer, employee or full time individual independent contractor of the Company or any of its Subsidiaries; provided that such increases in cash compensation shall be permitted for any individual who is not a director or senior executive of the Company in the ordinary course of business, but the aggregate amount of all such increases among all such individuals shall not exceed $500,000 (on an annualized basis); (ii) increase or accelerate the accrual rate, vesting, or timing of payment or funding of, any compensation, severance, retention, benefits or other rights of any current or former director, employee or full time individual independent contractor of the Company or any of its Subsidiaries or otherwise pay any amount to which any current or former director, employee or full time individual independent contractor of the Company or any of its Subsidiaries is not entitled; (iii) establish, adopt, amend, or become a party to any new employment, severance, retention, change in control, or consulting agreement or any employee benefit or compensation plan, program, commitment, policy, practice, arrangement, or agreement or amend, suspend or terminate any Company Employee Benefit Plan; provided that this clause shall not prohibit the Company or its Subsidiaries from (A) establishing a “top up retention pool” with costs not to exceed $2 million in the aggregate, based on the plan mutually agreed to by Parent and the Company, pursuant to which participants will be eligible to receive a retention payment subject to their continued employment with the Company through the 30th day following the Effective Date (such date, the “Retention Date”) (with participants remaining eligible to receive such payment in the event he or she is terminated without “cause” following the Effective Date but prior to the Retention Date), with the participants and individual awards thereunder as discussed and agreed to by Parent’s Chief Executive Officer, based on recommendations provided to Parent by the Company’s Chief Executive Officer), or (B) hiring at-will employees to replace employees who have left employment of the Company, so long as such hiring (and the applicable employment terms) is consistent with past practice; (iv) modify any Company Option, Company Restricted Stock Unit, or other equity-based award (except to the extent required by Section 2.15 and Section 2.16 of this Agreement); (v) make any discretionary contributions or payments to any trust or other funding vehicle or pay any discretionary premiums in respect of benefits under any Company Employee Benefit Plan; or (vi) establish, adopt, enter into, amend, suspend or terminate any collective bargaining agreement or other contract with any labor union, except as required by the terms of any collective bargaining agreement or other contract with any labor union in effect on the date hereof.

  • Other Compensation and Fringe Benefits In addition to any executive bonus, pension, deferred compensation and long-term incentive plans which Company or an affiliate of Company may from time to time make available to Employee, Employee shall be entitled to the following during the Employment Term:

  • Compensation and Fringe Benefits (a) The Company shall, during the Term of Employment, pay to the Executive as compensation for the performance of his duties and obligations a salary of $240,000 per annum. This compensation is subject to annual review and adjustment, as appropriate in the judgment of the Company. The compensation payable pursuant to this Section 5(a) shall be payable in equal semi-monthly installments on the last day of each such pay period.

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