Executive Severance Policy Sample Clauses

Executive Severance Policy. (i) Effective no later than the Distribution Date, DevCo and SpinCo shall take all steps necessary or appropriate to cause a member of the SpinCo Group to have in effect an executive severance policy (the “SpinCo Executive Severance Policy”) with terms that are substantially similar to those provided to SpinCo Employees who were eligible under the DevCo Executive Severance Policy prior to the Distribution Date, (ii) each SpinCo Employee who is eligible under the DevCo Executive Severance Policy shall automatically cease to be eligible effective upon the date on which the SpinCo Executive Severance Policy becomes effective and (iii) effective as of date the SpinCo Executive Severance Policy becomes effective, SpinCo shall fully pay, perform and discharge, all obligations thereunder.
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Executive Severance Policy. If while this Agreement is in effect your employment is terminated by the Company without Cause or you terminate your employment for Good Reason, then you shall be eligible to receive both the payment pursuant to this Agreement and payment under the Company's Executive Severance Policy.
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Executive Severance Policy. If while this Agreement is in effect your employment is terminated by the Company without Cause or you terminate your employment for Good Reason, then you shall receive either the (a) payment pursuant to this Agreement or (b) payment of salary continuation under the Company's Executive Severance Policy, as then in effect, whichever provides for the payment of the higher amount, but you shall not receive payment under both this Agreement and the salary continuation under the Executive Severance Policy. In the event that you receive payment under this Agreement and not the Executive Severance Policy, you nevertheless shall be eligible to receive the medical, dental, vision and orthodontia benefits, the term life insurance and outplacement services described in the Executive Severance Policy for a period of up to two years pursuant to the terms of the Executive Severance Policy.
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Executive Severance Policy. (a) If the Company terminates your employment other than for Cause, or if you terminate employment for Good Reason, as such terms are defined below, and notwithstanding and in lieu of the terms and conditions of the Company’s Executive Severance Policy relating March 26, 2012 to base salary continuation, you will be entitled to receive severance equal to eighteen (18) months’ base pay then in effect, payable in substantially equal installments over the eighteen (18) month period following your separation from service, as follows, except to the extent delay is required as described under Section 12 below: the first payment, which will cover the first sixty (60) days after your separation from service, will be paid to you in a lump sum cash payment on the Company’s first payroll date that occurs after the sixtieth (60th) day following your termination date, and the remaining months of severance will be paid to you in accordance with the Company’s normal payroll practices following such sixtieth (60th) day for the remainder of the applicable eighteen (18) month period.
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Executive Severance Policy. If the Company terminates your employment other than for cause, the termination of your employment shall not be effective unless and until the Company provides you with at least six (6) months prior written notice of its decision to terminate your employment. In the event your employment is terminated per the above terms, you will be covered under the American Water Executive Severance Policy, which provides, among other things, a severance payment equal to eighteen (18) months’ pay. The Company agrees that the Executive Severance Policy that is currently in effect will continue to apply to you so long as the Company is owned by RWE or through December 31, 2007, whichever is later.
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Executive Severance Policy. The Executive shall be a participant in the Company’s Executive Severance Policy and shall be entitled to the rights and payments provided therein.
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Executive Severance Policy. You will be entitled to the benefits and subject to the terms of the Company’s executive severance policy which provides severance benefits to executives whose employment is involuntarily terminated by American Water for reasons other than cause. Under the policy, you will receive, among other benefits, company-paid COBRA, salary continuation benefits in the form of 18 months of your base salary and a prorated annual incentive plan award.
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Executive Severance Policy. If the Company terminates your employment other than for cause, and in lieu of the terms and conditions of the Company’s Executive Severance Policy relating to base salary continuation, you will be entitled to receive the following:
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Executive Severance Policy. The Executive has been terminated from employment with the Company under circumstances that entitle the Executive to certain rights and benefits under the Arrow Electronics, Inc. Executive Severance Policy (the “Severance Policy”), subject to the terms of this Release. The rights and benefits of the Executive under the Severance Policy are in consideration of and subject to the Executive’s execution, non-revocation, and compliance with the terms of this Release.
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Related to Executive Severance Policy

  • Executive Benefits The Executive shall be entitled to participate in all benefit programs of the Company currently existing or hereafter made available to executives and/or other salaried employees, including, but not limited to, pension and other retirement plans, group life insurance, hospitalization, surgical and major medical coverage, sick leave, disability and salary continuation, vacation and holidays, cellular telephone and all related costs and expenses, long-term disability, and other fringe benefits.

  • Termination of Employment and Severance Benefits The Executive’s employment hereunder shall terminate under the following circumstances:

  • Severance Pay and Benefits Upon Termination by the Company without Cause or by the Executive for

  • Termination of Employment with Severance Benefits (a) The Executive shall be entitled to the severance benefits described in section 9(b) in the event that:

  • Severance Pay 4.4.2(a) Severance pay - other than employees of a small employer An employee, other than an employee of a small employer, whose employment is terminated by reason of redundancy is entitled to the following amount of severance pay in respect of a period of continuous service: Period of continuous service Severance pay Less than 1 year Nil 1 year and less than 2 years 4 weeks’ pay* 2 years and less than 3 years 6 weeks’ pay 3 years and less than 4 years 7 weeks’ pay 4 years and less than 5 yeas 8 weeks’ pay 5 years and less than 6 years 10 weeks’ pay 6 years and less than 7 years 11 weeks’ pay 7 years and less than 8 years 13 weeks’ pay 8 years and less than 9 years 14 weeks’ pay 9 years and less than 10 years 16 weeks’ pay 10 years and over 12 weeks’ pay * Week’s pay is defined in 4.4.1.

  • COBRA Severance As an additional Severance Benefit, the Company will continue to pay the cost of your health care coverage in effect at the time of your Separation from Service, either under the Company’s regular health plan (if permitted), or by paying your COBRA premiums (the “COBRA Severance”), for a maximum of six (6) months. The Company’s obligation to pay the COBRA Severance on your behalf will cease if you obtain health care coverage from another source (e.g., a new employer or spouse’s benefit plan), unless otherwise prohibited by applicable law. You must notify the Company within two (2) weeks if you obtain coverage from a new source. This payment of COBRA Severance by the Company would not expand or extend the maximum period of COBRA coverage to which you would otherwise be entitled under applicable law. Notwithstanding the above, if the Company determines in its sole discretion that it cannot provide the foregoing COBRA Severance without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide to you a taxable monthly payment in an amount equal to the monthly COBRA premium that you would be required to pay to continue your group health coverage in effect on the date of your termination (which amount shall be based on the premium for the first month of COBRA coverage), which payments shall be made on the last day of each month regardless of whether you elect COBRA continuation coverage and shall end on the earlier of (x) the date upon which you obtain other coverage or (y) the last day of the sixth (6th) calendar month following your Separation from Service date.

  • Termination of Employment Severance Your immediate supervisor or the Company's Board of Directors may terminate your employment, with or without cause, at any time by giving you written notice of your termination, such termination of employment to be effective on the date specified in the notice. You also may terminate your employment with the Company at any time. The effective date of termination (the "Effective Date") shall be the last day of your employment with the Company, as specified in a notice by you, or if you are terminated by the Company, the date that is specified by the Company in its notice to you. The following subsections set forth your rights to severance in the event of the termination of your employment in certain circumstances by either the Company or you. Section 5 also sets forth certain restrictions on your activities if your employment with the Company is terminated, whether by the Company or you. That section shall survive any termination of this Agreement or your employment with the Company.

  • Bonus Severance A single, lump sum payment equal to 100% of the Executive’s target annual bonus as in effect for the fiscal year in which the Qualifying CIC Termination occurs, less applicable withholdings.

  • Termination and Severance Pay Employees who terminate their employment with the City for any reason shall have their termination pay computed in the following manner.

  • Change of Control Severance Benefits A Covered Termination of Executive’s employment on or within twelve (12) months following the effective date of a Change of Control entitles Executive to receive the benefits set forth in this Section 3.2.

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