Payments Upon Termination of Employment Sample Clauses

Payments Upon Termination of Employment. In the case of any termination of Executive’s employment with the Company, Executive or his estate or legal representative shall be entitled to receive, to the extent permitted by applicable law, from the Company (i) Executive’s Base Salary through the date of termination to the extent not previously paid, (ii) to the extent not previously paid, the amount of any bonus, incentive compensation, and other compensation earned or accrued by Executive as of the date of termination under any compensation and benefit plans, programs or arrangements maintained in force by the Company for any fiscal year of the Company ended prior to the date of termination that is then unpaid, (iii) any vacation pay, expense reimbursements and other cash entitlements accrued by Executive, in accordance with Company policy for senior executives, as of the date of termination to the extent not previously paid, (iv) any Restricted Stock Units and other equity awards outstanding under any Company long term incentive plans or arrangements (other than the Executive LTIP), in accordance with the terms of the plans or arrangements under which such awards were created or maintained, and (v) all benefits accrued by Executive under all benefit plans and qualified and nonqualified retirement, pension, 401(k) and similar plans and arrangements of the Company, in such manner and at such times as are provided under the terms of such plans and arrangements.
Payments Upon Termination of Employment. (a) In the event the Employee’s employment under this Agreement is terminated for any reason specified in Section 9 above this Agreement shall terminate and be deemed cancelled and the Employer shall be under no obligation hereunder either to continue the Employee’s employment or to provide the Employee with any payment or benefit of any kind whatsoever, except for the Employee’s Base Salary through the Termination Date paid in accordance with the Employer’s normal payroll practices and such vested benefits or rights which the Employee may have accrued through the Termination Date hereunder or under any benefit plan of Employer (other than any severance pay plan maintained by the Employer and the Special Grant equity incentives award described in Section 3) paid in accordance with the terms and conditions of the applicable plan. In addition, in the event of termination pursuant to 9(B) or (C) above, the Employer shall also pay the amount of any incentive compensation as described in Section 3(b) hereof to which the Employee would have been entitled for the year of termination had the Employee’s employment not terminated, prorated to the Termination Date based on the number of days actually employed during the applicable year, payable when such incentive compensation would be payable to other employees for that year and based upon actual results and the Employer’s financial performance for the full applicable year. In addition, in the event of termination pursuant to 9(B) or (C) above, the Employee shall be entitled to benefits under any group life insurance or disability insurance benefits provided in accordance with the Employer’s welfare benefit plans. (b) The Employee’s employment under this Agreement may also be terminated on fifteen (15) days’ prior notice by the Employer without Cause and it may be terminated by the Employee for Good Reason if circumstances constituting Good Reason exist, and neither of such terminations of employment shall be a breach of this Agreement by the Employer so long as the benefits set forth below are provided to the Employee. In the event that the Employee’s employment with the Employer is terminated by the Employer as a result of non-renewal of the Term of Employment pursuant to Section 2(b) above or terminated by the Employer without Cause or by the Employee for Good Reason, then, in addition to the Employee’s Base Salary through the Termination Date and such vested benefits or rights which the Employee may have accrued...
Payments Upon Termination of Employment. In the event of termination of the Employee’s employment hereunder pursuant to this Section 4:
Payments Upon Termination of Employment. 3.1 If during the Termination Period the employment of the Executive shall terminate other than by reason of a Nonqualifying Termination, the Company shall pay to the Executive (or to the Executive's beneficiary or estate), as compensation for services rendered to the Company: 3.1.1 Within 10 days following the Date of Termination, a cash amount equal to the sum of (i) the Executive's annual base salary from the Company and its affiliated companies through the Date of Termination, to the extent not theretofore paid, and (iii) any compensation previously deferred by the Executive (together with any interest and earnings thereon) and any accrued vacation pay, in each case to the extent not theretofore paid; plus 3.1.2 A cash amount equal to (i) 2.99 times the Executive's annual base salary from the Company and its affiliated companies in effect at the time the Change of Control occurs, plus (ii) 2.99 times the Executive's annual bonus paid or payable, including by reason of any deferral, to the Executive by the Company and its affiliated companies in respect of the fiscal year of the Company immediately preceding the fiscal year in which the Change in Control occurs. Such aggregate amount shall be payable, at the election of the Executive (or the Executive's beneficiary or estate) either in a lump sum (subject to any applicable payroll or other taxes required to be withheld) within 10 days following the date of Termination or in 12 equal monthly installments commencing 30 days following the date of Termination. The amounts payable pursuant to this Section 3.1.2, together with any amounts or benefits otherwise payable pursuant to this Exhibit, shall be paid in lieu of any other amount of severance relating to salary or bonus continuation to be received by the Executive upon termination of employment of the Executive under any severance plan, policy or arrangement of the Company. 2 14 3.2 If during the Termination Period the employment of the Executive shall terminate other than by reason of a Nonqualifying Termination, the Executive shall also be entitled to the following: 3.2.1 If on the Date of Termination the Executive shall not be fully vested in the employer contributions made on his behalf under the Plan, the Company shall pay to the Executive within 30 days following the Date of Termination a lump sum cash amount equal to the value of the unvested portion of such employer contributions; provided, however, that if any payment pursuant to this Section 3....
Payments Upon Termination of Employment. Section 5.01. Termination by the Company For Cause or by the Employee Without Good Reason. If Employee’s employment and this Employment Agreement are terminated by the Company for Cause or by Employee without Good Reason, the Company shall pay Employee the Accrued Obligations (as hereinafter defined) (other than, however, any amounts under any Cash Incentive Plan which are forfeited pursuant to the terms of such plan as a result of the termination), in a single, lump-sum payment within 45 days following such termination.Section 5.02. Termination by the Company Without Cause or by the Employee For Good Reason. If Employee’s employment and this Employment Agreement are terminated by the Company without Cause or if Employee terminates his employment and this Employment Agreement for Good Reason, the Company shall pay Employee the Accrued Obligations in a single, lump-sum payment within 45 days following such termination. In addition, Employee shall be entitled to receive, subject, however, to the provisions of Sections 6.0 and 7.0, the following: (i) an amount equal to one (1) year’s Base Salary (“Severance Payment”), which shall be payable in bi-weekly installments, in accordance with the regular payroll practices and procedures of the Company; and (ii) continued medical, hospitalization, life insurance and disability benefits to which Employee was entitled at the Termination Date (any of which may, in the Company’s discretion, be structured as a reimbursement to the Employee of the after-tax cost thereof) for a period of 12 months following the Termination Date (or until Employee receives similar or comparable coverage from a new employer). Employee specifically acknowledges and agrees that all such additional payments and benefits under this Section 5.02 shall be conditional on Employee’s strict and continued compliance with Section 10.0 (Return of Property), Section 13.0 (Confidentiality), Section 14.0 (Work Product Assignment), and Section 15.0 (Covenant Not to Compete).Section 5.03. Termination Due to Death. If Employee’s employment and this Employment Agreement are terminated due to Employee’s death, the Company shall pay the estate of Employee the Accrued Obligations in a single, lump-sum payment within 45 days following such termination.Section 5.04. Termination Due to Disability. If Employee’s employment and this Employment Agreement are terminated due to his Disability, the Company shall pay Employee the Accrued Obligations in a single, lump-sum pa...
Payments Upon Termination of Employment. (a) If during the Termination Period the employment of Executive shall terminate pursuant to a Qualifying Termination, then the Company shall provide to Executive: (b) If during the Termination Period the employment of Executive shall terminate other than by reason of a Qualifying Termination, then the Company shall pay to Executive within thirty (30) days following the Date of Termination, a lump-sum cash amount equal to the sum of (1) Executive’s base salary through the Date of Termination and any bonus amounts which have become payable, to the extent not previously paid or deferred, and (2) any accrued vacation pay, to the extent not previously paid. EXHIBIT 10 (iv) (F) (c) Executive acknowledges and agrees that any and all payments to which Executive may become entitled under Section 4(a)(2) above are conditioned upon and subject to Executive’s execution of, and not having revoked within any applicable revocation period, a general release and waiver, in such reasonable and customary form as shall be prepared by the Company, of all claims Executive may have against the Company, any Subsidiary and their respective directors, officers and affiliates, except as to (i) matters covered by provisions of this Agreement that expressly survive the termination of this Agreement, (ii) rights to indemnification and insurance under the Charter, By-Laws and directors and officers insurance policies maintained by the Company or any Subsidiary and (iii) rights to which Executive is entitled by virtue of his participation in the employee benefit plans, policies and arrangements of the Company or any Subsidiary.
Payments Upon Termination of Employment. In the event of --------------------------------------- any termination by the Executive pursuant to Paragraph 7(c) above, or in the event the Executive's employment under this Agreement is terminated by the Company for any reason other than one of those specified in Paragraphs 7(a) or 7(b) above, the Company shall, as liquidated damages or severance pay, or both, promptly pay to the Executive and provide the Executive and the dependents, beneficiaries and estate of the Executive as follows:
Payments Upon Termination of Employment. On the last day of employment, redundant employees will receive a termination payment based on the following formulae:
Payments Upon Termination of Employment. If you terminate your employment or if the Company terminates your employment with or without Cause, the Company will pay you any accrued and unpaid compensation (subject to normal withholding and other deductions) to the effective date of termination of your employment. In addition, if your employment with the Company is terminated by the Company without Cause or if you terminate your employment with the Company following (i) a material adverse alteration or diminution in the nature or status of your authority, duties or responsibilities from those in effect immediately prior to such change, (ii) a reduction in your title of Chief Financial Officer, or (iii) a reduction in your base salary: (a) you will be entitled to receive Severance Pay (as herein defined); (b) you will be entitled to receive Continuing Benefits (as herein defined); and (c) any non-vested stock option which is scheduled to vest as of the next July 1 will vest as of the date of the termination of your employment in an amount equal to the amount scheduled to vest as of said July 1 multiplied by a fraction, the numerator of which shall be the number of days of the then current July 1 - June 30 fiscal year up to and including the date of termination and the denominator of which will be 365. For purposes hereof: "Severance Pay" means (i) payments equal to your base salary at the time of the termination payable in monthly installments throughout the period ending twelve (12) months from the date of employment termination; and (ii) an amount equal to the average annual bonus earned by you (whether paid or deferred) for the three most recent annual periods or such shorter period if the termination occurs before you have served for three annual periods (such amount shall be payable within forty-five (45) days after the end of the applicable calendar year); and "Continuing Benefits" means medical, dental, vision, long-term care, life and disability insurance coverage and any SEP entitlement for one (1) year following the termination at levels comparable to that provided immediately prior to your termination (all at the cost of the Company except for any contributions paid by you prior to the termination). Notwithstanding the foregoing, if such termination occurs within twelve (12) months following a Change of Control, the Severance Pay shall be payable, at your election, either in a lump sum within thirty (30) days of the date of employment termination or in periodic payments over a period not t...
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