Rights and Payments Upon Termination Clause Samples

Rights and Payments Upon Termination. Executive's right to benefits ------------------------------------ and payments, if any, for periods after the date on which Executive's employment with the Company and its affiliates terminates for any reason (the "Termination Date") shall be determined in accordance with this paragraph 4:

Rights and Payments Upon Termination. Either party may terminate Executive’s employment under this Agreement pursuant to the terms and conditions of this Section 6. Subject to Section 7 below, Executive’s right to benefits and payments, if any, for periods after the Termination Date shall be determined in accordance with this Section 6:

Rights and Payments Upon Termination. The Executive’s right to benefits and payments, if any, for periods after the Executive’s Termination Date shall be determined in accordance with this Section 5. Additionally, a signed Agreement and Release will be required of the Executive before payments will be made to the Executive under this agreement.

Rights and Payments Upon Termination. The Employee's right to benefits and payments, if any, for periods after the date on which his employment with the Company terminates for any reason (his "Termination Date") shall be determined in accordance with this Paragraph 4:

Rights and Payments Upon Termination. The Executive's right to benefits and payments, if any, for periods after the date on which his employment with the Company terminates for any reason (his "Termination Date") shall be determined in accordance with this Section 4: 4.1. Termination by the Company for Reasons Other Than Cause; Termination by the Executive for Good Reason. If the Executive's termination by the Company occurs for any reason other than Cause or is a result of the Executive's termination of employment for Good Reason (and is not on account of the Executive's death, disability, or voluntary resignation, the mutual agreement of the parties or any other reason), then the Executive shall receive from the Company for the period commencing on his termination Date and ending on the earliest of; 4.1.1. the thirty-sixth month after the Executive's Termination Date; 4.1.2. the date on which the Executive violates the provisions of Sections 5, 6 or 7 of this Agreement; or 4.1.3. the date of the Executive's death, the Salary, bonus and benefits in effect as of his Termination Date, payable in accordance with the provisions of Paragraph 3. 4.2. The monthly Fee amounts will continue as described above. Benefits that will continue will include medical, dental, basic life insurance, financial counselling services, any optional life insurance and any optional accidental death and dismemberment insurance. Bonus shall mean three payments of the average annual amount of the award paid to the Executive pursuant to the annual incentive plan or successor plan with respect to the three years immediately preceding that in which the Termination Date occurs; excluding any years in which the bonus was zero. If all three immediately preceding bonus payments were equal to zero, then no bonus payment would be continued for the next three years. 4.2.1. Fee payments to the Executive during the aforementioned thirty-six month period shall not preclude the Executive's eligibility for payments under the Company’s severance plan if any. 4.2.2. All existing unvested options as of the Termination Date will become vested and the Executive shall be afforded a 36-month extension period of time (but not beyond the original Termination Date of the option) from the Termination Date to exercise any remaining unexercised options that had not expired before the Termination Date. 4.2.3. It is expected that the Executive would have an opportunity to exercise said options in a cashless exchange from the first window period (post ...

Rights and Payments Upon Termination. Employee’s right to compensation and benefits for periods after the Employment Termination Date shall be determined in accordance with this Section 4, as follows:

Rights and Payments Upon Termination. In connection with Executive’s termination from Company, regardless of the reason, Executive shall be entitled to the Minimum Payments, in addition to any payments or benefits to which Executive may be entitled under the express terms of any executive benefit plan or as required by law. Any payments to be made to Executive pursuant to this Section 4 shall be made in accordance with Company's customary policies and normal payroll practices.

Rights and Payments Upon Termination. The Executive's right to payment and benefits under this Agreement for periods after his Date of Termination shall be determined in accordance with the following provisions of this paragraph 4: (a) If the Executive's Date of Termination occurs during the Agreement Term for any reason, the Company shall pay to the Executive: (i) The Executive's Salary for the period ending on the Date of Termination and any bonuses approved but not paid as of the Date of Termination. (ii) Payment for unused vacation days, as determined in accordance with policy applicable to senior executives of the Company, as in effect on the Date of Termination. (iii) Any other payments or benefits to be provided to the Executive by the Company pursuant to any employee benefit plans or arrangements adopted by the Company, to the extent such amounts are due from the Company. Except as may otherwise be expressly provided to the contrary in this Agreement, nothing in this Agreement shall be construed as requiring the Executive to be treated as employed by the Company for purposes of any employee benefit plan or arrangement following the date of the Executive's Date of Termination. (b) If the Executive's Date of Termination occurs during the Agreement Term under circumstances described in paragraph 3(a) (relating to the Executive's death), paragraph 3(b) (relating to the Executive's being Permanently Disabled), paragraph 3(c) (relating to the Executive's termination for Cause) or paragraph 3(d) (relating to the Executive's resignation), then, except as otherwise expressly provided in this Agreement or otherwise agreed in writing between the Executive and the Company, the Company shall have no obligation to make payments under the Agreement for periods after the Executive's Date of Termination. (c) If the Executive's Date of Termination occurs during the Agreement Term, or during a renewal period, under circumstances described in paragraph 3(e) (relating to termination by the Company other than for Cause), then, in addition to the amounts payable in accordance with paragraph 4(a): (i) The Executive shall receive from the Company within thirty (30) days of termination, a lump sum payment in an amount equal to one twelfth of the Executive's Salary as in effect on his Date of Termination, multiplied by the number of months in the Severance Period. For purposes of this Agreement, the Severance Period shall be equal to (i) in the event that the Date of Termination occurs within the first month of ...

Rights and Payments Upon Termination. In the event Executive is disabled or his employment terminates during the Employment Period, the Company shall provide Executive with the payments set forth below. Executive acknowledges and agrees that the payments set forth in this Section 6 constitute liquidated damages for termination of his employment during the Employment Period and that prior to receiving any such payments under Section 6 and as a material condition thereof, Executive shall, if requested by the Company, sign and agree to be bound by a general release of claims against the Company and its affiliates related to Executive's employment (and termination of employment) with the Company in such form as the Company's Board deems appropriate. Upon Executive's termination of employment for any reason, upon the request of the Board, he shall resign any officerships, directorships or other positions that he then holds with the Company or any of its affiliates.