General Severance Plan Clause Samples
General Severance Plan. Buyer agrees that all full time employees of Buyer or Seller or any Buyer Subsidiary immediately prior to the Effective Time who are not subject to an employment or severance agreement or plan and who are not offered full time employment, at substantially the same salary, with Holding Company, Buyer or any Buyer Subsidiary following the Effective Time, or are terminated without cause within one year following the Effective Time, will be entitled to receive severance benefits from Buyer equal to two weeks of salary for each year of service with Buyer, Seller or any Buyer Subsidiary, with a minimum of four weeks and a maximum of twenty-six weeks of salary payments.
General Severance Plan. The parties hereto acknowledge that Acquiror, as the surviving entity, will make severance payments to certain current or former employees of either Acquiror or Company, pursuant to the general severance plan to be established as provided in Acquiror Schedule 8.6.
General Severance Plan. The parties hereto acknowledge that ISBF, as the surviving entity, will make severance payments to certain current or former employees of either ISBF or MidWestOne, pursuant to the general severance plan to be established as provided in Schedule 8.8.
General Severance Plan. At and following the Effective Time, Buyer agrees to honor the general severance plan previously provided to Buyer in connection with the termination of employment of any Seller Employee, in such amounts, at such times and upon such conditions as set forth on said plan.