Separation Payments Sample Clauses

Separation Payments. In respect of each month during the 12-month period measured from the day of the Executive’s Date of Separation from Service (the “Severance Period”), (x) an amount equal to one-twelfth of the Base Salary as in effect for the year in which the Date of Separation from Service occurs shall be paid in equal installments in accordance with the Corporation’s standard payroll practices (reduced by any amounts received by and/or payable to Executive in connection with benefits paid or payable as a result of Disability, if applicable) (the “Salary Continuation Payments”); and (y) an amount equal to one-twelfth of the Target Bonus as in effect for the year in which the Date of Separation from Service occurs shall be paid once a month (together with the Salary Continuation Payments, the “Separation Payments”);

Separation Payments. Subject to Employee’s consent to and fulfillment of Employee’s obligations in this Agreement and, if applicable pursuant to the Section 14(b) or (c) of the Employment Agreement, Employee’s post-termination obligations in Sections 8 and 9 of the Employment Agreement, and provided that Employee does not revoke this Agreement pursuant to Section 12 hereof, Matador shall pay Employee the amount of $[AMOUNT], minus normal payroll withholdings and taxes (“Separation Payment”), payable as provided in the Employment Agreement. The Separation Payment will not be treated as compensation under Matador’s 401(k) Plan or any other retirement plan.

Separation Payments. In consideration for your execution, return and non-revocation of this Release on or after the date your employment is terminated (the “Separation Date”), the Company will provide you with the Separation Payments described in Section 3(d) of the Employment Agreement:

Separation Payments. (a) In the event that the Executive's employment with the Company is terminated on or prior to March 31, 2004, by the Company without Cause or by the Executive for Good Reason, in addition to any other pay and/or benefits which have accrued to Executive, Executive shall receive separation payments and benefits as follows: (1) continuation of Executive's then-effective base annual salary for the longer of: (i) the period commencing on the effective date of the Executive's termination of employment (the "Termination Date") and ending on March 31, 2004; and (ii) the period commencing on the Termination Date and ending on the one- year anniversary of the Termination Date; such salary continuation to be paid on a semi-monthly basis in arrears for the appropriate period; plus (2) an amount equal to two times Executive's target APC for the year in which Executive's employment is terminated, minus any amount of APC paid or payable to Executive for any period on or prior to March 31, 2004. The APC shall be payable to the Executive on the dates of APC payment to other executives of the Company; it being understood that the Executive does not need to be employed by the Company on any date of payment in order to receive the APC set forth in this subparagraph 8(a)(2) or in order to receive the APC earned in the year immediately preceding the year in which Executive's employment is terminated; plus (3) continued vesting of all equity awards through March 31, 2004 (with stock options being exercisable in accordance with the terms of stock options granted generally to executives of the Company, but the date of termination of employment being deemed March 31, 2004); plus (4) full vesting of his deferred compensation benefit; plus (5) continuation of the Benefits through March 31, 2004. (b) Without regard to the end of the term under 2 above, in the event that the Executive's employment with the Company is terminated on or after April 1, 2004, by the Company without Cause, in addition to any other pay and/or benefits which have accrued to Executive, Executive shall receive separation payments and benefits as follows: (1) continuation of Executive's then-effective base annual salary for the period commencing on the Termination Date and ending on the one-year anniversary of the Termination Date, paid on a semi-monthly basis in arrears; plus (2) one times Executive's target APC for the year in which Executive's employment is terminated. APC shall be payable to the Executive on...

Separation Payments. For the one-year period beginning on the day after the Termination Date and ending on the first anniversary of the Termination Date (the "Separation Pay Period"), you will continue to be entitled to your current annual base salary of One Hundred and Eighty Five Thousand Dollars ($185,000) per annum, which will be paid to you in accordance with the Company's standard payroll procedures (but in no event any less frequently than monthly), less any and all applicable withholdings. In addition, during the Separation Pay Period you will be paid an expense allowance of Nine Thousand Dollars ($9,000) as provided for in Section 2(e) of the Employment Agreement. For convenience, this expense allowance will be paid to you in regular installments as if it were part of (but in addition to) your salary. Also, you will be entitled to receive (x) if any, an annual bonus pursuant to Section 2(b) of the Employment Agreement relating in any manner to fiscal year 2007 (irrespective of payment date) in an amount equal to such bonus paid to any other Company executive officer, and (y) in the event the Acquisition and Merger are consummated, a special transaction bonus recognizing your efforts with regard to the Acquisition and the Merger in an amount equal to $50,000. Notwithstanding the preceding paragraph, in order to comply with Section 409A of the Internal Revenue Code ("Section 409A"), no payment under this Section 2(a) will be made to you during the six-month period immediately following the Termination Date. Instead, on the first day of the seventh month following the Termination Date, all amounts that otherwise would have been paid to you during that six-month period, but were not due as a result of this provision, will be paid to you in a single lump-sum payment (without any interest with respect to that six-month period). This six-month delay will cease to be applicable if you die before the six-month period has elapsed. In the event that any subsequent guidance or clarification is issued by the Internal Revenue Service or Treasury Department that allows the Company to definitively conclude that 409A's six-month wait or a portion thereof is not applicable in this instance, including because the amounts paid to you under this Agreement are actually exempt from 409A rather than subject to 409A, then the Company hereby agrees that it will amend this agreement to eliminate the maximum affected portion of the six-month wait.

Separation Payments. In consideration for Employee signing and not revoking this Release and complying with Employee’s obligations under the CIC Agreement and obligations hereunder, the Company will provide the severance payments to Employee as provided in the CIC Agreement.

Separation Payments. (a) The Separation Date shall be the termination date of your employment for purposes of participation in and coverage under all benefit plans and programs sponsored by or through the Company. In connection with your separation from employment with the Company, you will receive (i) any accrued but unpaid base salary through the Separation Date, to be paid on the next regularly scheduled payroll date immediately following the Separation Date, (ii) reimbursement for any properly submitted, but unreimbursed, business expenses incurred on or prior to the Separation Date and in accordance with the Company’s expense policy (to be eligible for such reimbursement, you must submit any such expenses within forty five (45) days of the Separation Date), and (iii) payment for any accrued but unused vacation time in accordance with the Company’s vacation policy. In addition, you will be entitled to receive vested benefits provided under any employee benefit plans maintained by the Company and in which you participate (excluding any employee benefit plan providing severance or similar benefits), in each case, in accordance with the terms of such plan and applicable law. (b) All of your outstanding Company equity awards, including stock options, restricted stock units and performance stock units granted to you that are outstanding as of the date hereof (“Equity Awards”) will continue to vest in accordance with the terms of the relevant stock plans and equity award agreements until the Separation Date, at which point any of your then outstanding unvested Equity Awards will be forfeited, and the post-termination of employment exercise period applicable to your outstanding vested stock options pursuant to the applicable award agreements will be deemed to commence as of your Separation Date; provided, however, that your post-termination of employment “Noncompete Period” as defined under your Equity Award agreements will be deemed to commence as of the CEO Resignation Date. Except as described in the preceding sentence, your vested Equity Awards shall continue to be governed by the terms of the applicable equity plan, including the Weight Watchers International, Inc. 2004 Stock Incentive Plan, the Weight Watchers International, Inc. 2008 Stock Incentive Plan and the Weight Watchers International, Inc. 2014 Stock Incentive Plan (each as amended from time to time), and any other agreements executed thereunder and the Company’s corresponding Terms and Conditions for Employee Stoc...

Separation Payments. Subject to Executive's execution of a Release and except to the extent provided under Section 5.07 and Section 5.09, Executive shall be entitled to the benefits set forth below (the "Separation Benefits") upon termination of employment under the following circumstances: (a) Upon a Nonqualifying Event, Executive shall be entitled to: (i) The Accrued Compensation;

Separation Payments. 4.7.1 At any time while an employee is a redeployee, they may give notice that they wish to accept a VSP. 4.7.2 A redeployee will only be required to provide one weeks’ notice to terminate their employment (or less by agreement). 4.7.3 An employee who indicates that they wish to accept a VSP, in accordance with clause 4.7.1, will be entitled to the following amounts of redundancy pay: a. An employee who has been a redeployee for between 0 to 3 months is entitled to receive redundancy pay equal to 100% of the VSP prescribed in clause 2.5 plus a lump sum payment of $15,000; or b. An employee who has been a redeployee for more than 3 months and up to 12 months is entitled to receive redundancy pay equal to 100% of the VSP prescribed in clause 2.5; or c. An employee who has been a redeployee for more than 12 months is entitled to receive redundancy pay equal to 75% the VSP prescribed in clause 2.5.