Payment of Benefits on Termination of Employment. If Executive's employment with the Company is terminated, Executive shall be entitled to maintain his employee benefits in accordance with his maximum COBRA rights.
Payment of Benefits on Termination of Employment. (a) In the event termination of the employment qualifies as a Good Leaver, subject to applicable Law and obtaining the requisite approvals (if any) the Employee shall be entitled to a cash payment equivalent to the Employee’s last drawn fixed pay for 12 (twelve) months, payable within 30 (thirty) days of the cessation of employment (“Severance Amount”) as a consideration for complying with the obligations under Clause 7 (Non-Compete and Non-Solicitation) above;
Payment of Benefits on Termination of Employment. 7.1 Transfer of a Member from one Plan Sponsor to another Plan Sponsor or to an Affiliate shall not be deemed for any purpose under the Plan to be a termination of employment of the Member.
Payment of Benefits on Termination of Employment. 6.1 (a) In the event of a Termination of Employment, a Member whose vested Account exceeds $3,500 may request at any time after the Member's Termination of Employment payment of his vested Account which shall be made in cash or in kind at the Member's election, in a lump sum payment. Payment will be made as soon as practicable after the last day of the Plan Year in which the Member requests a distribution in writing. No distribution of the Member's Account will be made without a Member's request prior to Normal Retirement Age.
Payment of Benefits on Termination of Employment. 9.1 Transfer of a Member from one Plan Sponsor to another Plan Sponsor or to an Affiliate shall not be deemed for any purpose under the Plan to be a termination of employment of the Member. A Member shall be deemed to have terminated employment upon his Severance Date. 9.2 In the event of the termination of employment of a Member for reasons other than death or attainment of a Retirement Date, the Member's Accrued Benefit shall be determined as of the Valuation Date coinciding with or immediately preceding the date the Accrued Benefit is valued for imminent payout purposes pursuant to normal administrative procedures, and shall be increased by any amounts allocated to a Member's Account after that Valuation Date and reduced by any distributions or withdrawals made from the Member's Account after that Valuation Date and the amount necessary to satisfy, as of the Member's termination of employment, the unpaid principal, accrued interest, and penalties on any loan made to the Member. 9.3 That portion of a Member's Accrued Benefit in which he is vested shall be: (a) his Tax Saver Account, Basic Contribution Account, Rollover Account and Old Thrift Plus Plan Account which shall be fully vested and nonforfeitable at all times; and (b) that portion of the value of his Matching Account computed according to the following vesting schedule based upon such Member's Years of Service, as defined in Section 1.29(b), as of his Severance Date: FULL YEARS PERCENTAGE OF SERVICE VESTED ----------- ---------- Less than 3 0% 3 33 1/3% 4 66 2/3% 5 100%
Payment of Benefits on Termination of Employment. 8.1 In the event of a Termination of Employment of a Participant, the Participant's vested Accrued Benefit shall be determined as of' the Valuation Date coinciding with or immediately preceding the date the Participant's Accrued Benefit is valued for imminent payout purposes pursuant to normal administrative procedures, increased by any contributions or Rollover Amounts allocated to the Account of the Participant after that Valuation Date and reduced by any distributions therefrom.
Payment of Benefits on Termination of Employment
