Obligations of the Company Upon Termination of Employment Sample Clauses

Obligations of the Company Upon Termination of Employment a)Termination by the Company Other Than for Cause; Termination by the Executive for Good Reason. If, during the Employment Period, the Company shall terminate the Executive’s employment other than for Cause, or the Executive shall terminate employment for Good Reason, then the Executive shall be subject to the covenants set forth in Section 13 herein, and only if within forty-five (45) days after the Date of Termination the Executive shall have executed a separation agreement containing a full general release of claims and covenant not to sue, in the form provided by the Company, and such separation agreement shall not have been revoked within such time period, within sixty (60) days after the Date of Termination (or such later date as may be required pursuant to Section 20(c) herein), the Company shall pay to the Executive a lump sum severance payment, in cash, equal to one and a half times (1.5x) the Executive’s Base Salary as in effect immediately prior to the Date of Termination. (b)Death. If the Executive’s employment is terminated by reason of the Executive’s death during the Employment Period, this Agreement shall terminate without further obligations to the Executive or the Executive’s legal representatives under this Agreement, other than such death benefits he or they would otherwise be entitled to receive under any plan, program, policy or practice or contract or agreement of the Company or its affiliated companies.(c)Retirement. If the Executive’s employment is terminated in connection with his Retirement during the Employment Period, this Agreement shall terminate without further obligations to the Executive; provided, however, that the Executive shall nonetheless be subject to the covenants set forth in Section 13 herein.(d)Cause; Voluntary Resignation. If the Executive’s employment is terminated by the Company for Cause during the Employment Period, or the Executive voluntarily resigns his employment without Good Reason, this Agreement shall terminate without further obligations to the Executive; provided, however, that the Executive shall nonetheless be subject to the covenants set forth in Section 13 herein.
Obligations of the Company Upon Termination of Employment. Except as otherwise delayed pursuant to Paragraph 11 relating to the application of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) to Specified Employees (as defined herein), the following provisions shall apply:
Obligations of the Company Upon Termination of Employment a) Termination for Good Reason or for Reasons Other Than for Cause, Death or Incapacity. If the Company shall terminate the Executive's employment other than for Cause or Incapacity or the Executive shall terminate his or her employment for Good Reason:
Obligations of the Company Upon Termination of Employment. 5.1Good Reason; Death; Disability; Other Than For Cause. (a)Subject to the provisions of Section 5.1(b), Section 5.4 and Section 9 below, if, during the Transition Period, the Employee’s employment hereunder is terminated (1) by reason of the Employee’s termination of the Employee’s employment hereunder for Good Reason, (2) by reason of the Employee’s death, or (3) by reason of the Company’s termination of the Employee’s employment hereunder as a result of the Employee’s Disability or other than for Cause:(i)the Employee shall be entitled to receive all accrued and unpaid Base Salary through the Effective Termination Date;(ii)the Company shall continue to pay to the Employee, his estate or heirs when due in accordance with the Company’s normal payroll practices the Employee’s Base Salary through May 3, 2024;(iii)the Company shall pay to the Employee, his estate or heirs an amount equal to the prorated Annual Cash Incentive Award and any LT Cash Incentive Awards that would have been payable to the Employee pursuant to and in accordance with the provisions of Section 3.2 above as if the Employee’s employment hereunder had not been terminated;(iv)to the extent not already vested, the Outstanding Equity Awards shall become fully vested and no longer subject to forfeiture; (v)the Employee’s vested stock options, including those that became vested pursuant to Section 5.1(a)(iv), will continue to be exercisable until the first to occur of (A) the original expiration date of the applicable stock option, and (B) any accelerated expiration date applicable to that stock option, other than solely as a result of the Employee’s termination of employment (such as accelerated expiration in connection with a change in control of the Company); and(vi)the Employee and his eligible dependents shall continue to be eligible to participate in any welfare benefit plans contemplated by Section 3.4 above pursuant to the terms and conditions thereof or pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), and if the Employee or the Employee’s eligible dependents elect continuation coverage pursuant to COBRA, the Company will waive, pay or reimburse the Employee for any premium or contribution required of the Employee to continue COBRA coverage (at coverage levels in effect immediately prior to the Employee’s termination of employment but without regard to any tax consequences to the Employee) until the earlier of (A) the expiration of the avai...
Obligations of the Company Upon Termination of Employment a)Post-Effective Period Terminations Other Than for Cause, Death or Disability; Post-Effective Period Executive Resignation. If, during the Post-Effective Period, the Company shall terminate Executive’s employment other than (I) for Cause or (II) on account of Executive’s death or Disability, or Executive shall terminate employment for Good Reason, and subject to satisfaction of the release requirements described in Section 8, the Company shall pay to Executive, in a lump-sum cash payment made within 30 days following the Date of Termination, as compensation for services rendered to the Company, an amount equal to the aggregate of the following amounts set forth below in Sections 3(a)(i), (ii), (iii) and (iv).(i)A cash amount equal to the sum of:
Obligations of the Company Upon Termination of Employment. (a) Death of Lamb. In the event of the death of Lamb during the term hereof, the Company shall pay to Lamb's spouse, commencing on the first day of the month following his death and continuing for a period of twenty-four (24) months thereafter, benefits equal to the monthly installments of Salary which was then being paid to Lamb pursuant to Section 4 herein. Immediately following such two-year period, the Company shall commence the payment of monthly benefits to Lamb's spouse equal in amount to one-fourth (1/4) of the monthly installments of Salary which was being paid to Lamb at the time of his death under Section 4 herein, which monthly benefits shall be paid for a period of twenty (20) years or until the death of Lamb's spouse, whichever occurs first. In addition, the Company shall continue at all times to offer and provide health insurance coverage to Lamb's spouse, in accordance with the plans, programs, practices and policies provided by the Company under the terms of this Agreement at the time of Lamb's death, until the death of Lamb's spouse, except to the extent such coverage is or otherwise becomes available to Lamb's spouse under the Medicare program of benefits. (b) Disability of Lamb. If Lamb's employment is terminated by reason of the Disability of Lamb, Lamb's employment under this Agreement shall terminate without further obligations to Lamb, other than those obligations accrued or earned and vested (if applicable) by Lamb as of the Date of Termination, including for this purpose, all Accrued Obligations and those set forth herein. All such Accrued Obligations shall be paid to Lamb in a lump sum in cash within thirty (30) days of the Date of Termination. Anything in this Agreement to the contrary notwithstanding, Lamb shall be entitled after the Disability Effective Date to receive disability and other benefits in an amount equal to one-half (1/2) of his Salary (adjusted on an annual basis by the amount of the Annual Increase), which shall be payable in equal monthly installments until the close of the calendar year during which Lamb attains sixty-five (65) years of age or until the last day of the month in which Lamb is no longer deemed disabled pursuant to this Agreement, or until Lamb's death, whichever shall first occur. If Lamb shall receive any disability payments from any insurance policies paid for by the Company, the payments to Lamb pursuant to this provision shall be reduced by the amount of disability payments received by Lamb ...
Obligations of the Company Upon Termination of Employment a)Death. If the Executive’s employment is terminated by reason of the Executive’s death during the Employment Period, this Agreement shall terminate without further obligations to the Executive or the Executive’s legal representatives under this Agreement, other than such death benefits he or they would otherwise be entitled to receive under any plan, program, policy or practice or contract or agreement of the Company or its affiliated companies.(b)Retirement. Any termination of the Executive’s employment by the Company without Cause, or by the Executive will be considered as Retirement on the applicable Date of Termination. This Agreement shall terminate without further obligations to the Executive, other than such retirement benefits he would otherwise be entitled to receive under any plan, program, policy or practice or contract or agreement of the Company or its affiliated companies. (c)Cause. If the Executive’s employment is terminated by the Company for Cause during the Employment Period, this Agreement shall terminate without further obligations to the Executive.
Obligations of the Company Upon Termination of Employment. Upon --------------------------------------------------------- termination of Executive's employment with the Company under the circumstances set forth in Section 4(b), the Executive shall be entitled to receive, notwithstanding such termination, the following payments and to be provided the following benefits:
Obligations of the Company Upon Termination of Employment. Upon termination of the Executive’s employment with the Company for any reason, the Company shall have no further obligation to the Executive other than the obligation to pay to the Executive (or in the event of the Executive’s death, his estate): (a) his Base Salary through the end of the Employment Term and (b) any other compensation and benefits due to the Executive in accordance with this Agreement (including, without limitation, any unpaid cash incentive bonus pursuant to Paragraph 4(c) hereof) or any other plan or agreement, in each case to the extent theretofore unpaid. Notwithstanding the foregoing, the Executive’s participation (if any) in and rights (if any) under any Company employee benefit plans and programs upon and after the end of the Employment Term will be governed by the terms and conditions of those plans and programs (as in effect or amended from time to time).