Severance and Notice Sample Clauses

Severance and Notice. If a regular employee is terminated except as provided in Section 1 above, said employee shall receive two (2) weeks’ written notice immediately prior to the date of termination, or the equivalent in wages. If notice is given immediately prior to the vacation period of any employee, such employee shall receive two (2) weeks’ wages, at the employee’s current salary, in addition to vacation pay to which the employee is entitled, plus all other benefits including severance pay as provided in Article 17.5.
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Severance and Notice. The Board shall provide the following for each member who is selected for layoff:
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Severance and Notice. The Board shall provide the following for each member who is selected for layoff Each Sessional member shall receive notice that the University will honour all contractual obligations to the member but that no subsequent contract will be offered. Each Continuing Sessional member shall receive four (4) months’ written notice of the proposed date of lay off or four
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Severance and Notice. Intermix is an “at will” employer. You will be provided with up to six (6) months of base salary and benefits continuation (the latter to be provided in the form of Company-paid COBRA) as severance in the event that you are terminated for reasons other than cause during the term of your employment. This benefit would be payable monthly for up to six (6) months or until you begin new employment, whichever occurs first. Both parties will be required to provide the other with thirty (30) days of written notice of their intention to terminate the relationship.
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Severance and Notice. The Buyer shall, or shall cause the Canadian Buyer or the Buyer’s Affiliates to, have in effect for a period of at least twelve (12) months following the Closing Date a severance plan, practice or policy applicable to each Transferred U.S. Employee or Transferred Canadian Employee that is not less favorable to such employee than the severance plan, practice or policy of the Sellers, the Sold Companies, the Sold Subsidiaries or their respective Subsidiaries, applicable to such employee and in effect as of immediately prior to the Closing Date (with credit for service with the Sellers, the Sold Companies, the Sold Subsidiaries and their respective Subsidiaries and their predecessors as set forth in Section 6.1(k)). In addition, (i) the Buyer, the Canadian Buyer and the Buyer’s Affiliates solely shall be responsible for, and have all Liability with respect to, any severance or similar obligation with respect to or arising from the termination of employment of any Transferred Employee on or following the date they become a Transferred Employee (including the employer portion of any payroll, social security, unemployment or similar Taxes), and (ii) the Sellers and their Subsidiaries solely shall be responsible for, and have all Liability with respect to, any severance or similar obligation with respect to or arising from the termination of employment of any Employee, Former Employee or other service provider (other than an Employee who becomes a Transferred Employee) (including the employer portion of any payroll, social security, unemployment or similar Taxes) and such amount shall not be included in the calculation of Closing Working Capital.
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Severance and Notice. The Buyer shall, or shall cause its Affiliates to, have in effect for a period of at least twelve (12) months following the Closing Date a severance plan, practice or policy applicable to each Continuing Employee that is not less favorable to such employee than the severance plan, practice or policy applicable to similarly situated employees of the Buyer and its Affiliates (with credit for service with the Sellers, the Sold Companies, the Sold Subsidiaries and their Affiliates and their predecessors as set forth in Section 5.1(i)). In addition, the Buyer solely shall be responsible for, and have all Liability with respect to, any severance or similar obligation with respect to or arising from the termination of employment with the Buyer and its Affiliates of a Continuing Employee (including the employer portion of any payroll, social security, unemployment or similar Taxes).
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Severance and Notice. The Buyer shall, or shall cause its Affiliates to, have in effect for a period of at least 12 months following the Initial Closing Date a severance plan, practice or policy applicable to each Transferred U.S. Employee that is not less favorable to the employee than the severance plan, practice or policy of the Asset Sellers applicable to the employee and set forth on Schedule 6.1(b)(i) (with credit for service with the Asset Sellers, Transferred Companies, their Affiliates and their predecessors as set forth in Section 6.1(h)), subject to the requirement that the applicable Transferred U.S. Employee execute and not revoke a standard release of all claims. In addition, the Buyer solely shall be responsible for, and have all Liability with respect to, (i) any severance or similar obligation with respect to or arising from the termination of employment with the Buyer or its Affiliates of a Transferred Employee and (ii) any severance or similar obligation with respect to a Specified Employee, whether or not a Transferred Employee, that results from the breach by the Buyer of its obligation under Section 6.1(a) to provide such Specified Employee with an offer or continuation of Substantially Equivalent Employment (in the case of (i) including the severance obligations, and in the case of (ii) as set forth on Schedule 6.1(b)(ii) (payable pursuant to the terms of Schedule 6.1(b)(ii)) and the employer portion of any payroll, social security, unemployment or similar Taxes); provided, however, that the Company shall promptly reimburse the Buyer for the excess of (A) the amount of severance paid by the Buyer to a Specified Employee pursuant to Schedule 6.1(b)(ii) that exceeds six (6) months of the Specified Employee’s annual base salary at the time of the Specified Employee’s separation from the Buyer and its Affiliates (or, if the Buyer or an Affiliate of the Buyer does not offer the Specified Employee Substantially Equivalent Employment, of the Specified Employee’s annual base salary immediately prior to the Initial Closing), over (B) the cash severance amount with respect to such Specified Employee for which
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Severance and Notice. Purchaser shall, or shall cause its Affiliates to, have in effect for a period of at least 12 months following the Closing Date a severance plan, practice or policy applicable to each Continuing Employee that is no less favorable to such Continuing Employee than the severance plan, practice or policy of the Seller Parent or any of its Affiliates, applicable to such Continuing Employee and in effect as of immediately prior to the Closing Date (with credit for service with the Seller Parent and any of its Affiliates, the Sold Company and their predecessors as set forth in Section 6.12). In addition, subject to Section 6.8, Purchaser solely shall be responsible for, and have all Liability with respect to, any severance or similar obligation with respect to or arising from the termination of employment with Purchaser and its Affiliates of a Continuing Employee (including the employer portion of any payroll, social security, unemployment or similar Taxes), including without limitation, for any Seller Business Employee who is not offered employment by Purchaser and/or one of its Affiliates in compliance with Section 6.1(b); provided, however, that the requirements of this Section 6.3 shall not apply to Continuing Employee who are covered by a Labor Contract.
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Related to Severance and Notice

  • Severance and Change in Control Benefits The Committee has designated you a participant in the Company’s Executive Change in Control and Severance Plan (the “Policy”), attached as Exhibit A to this Agreement. As a participant in the Policy, you will be eligible to receive severance payments and benefits upon certain qualifying terminations of your Employment as set forth in Exhibit B to this Agreement (the “Participation Terms”), subject to the terms and conditions of the Policy. By signing this Agreement, you agree that this Agreement, the Policy, and the Participation Terms constitute the entire agreement between you and the Company regarding the subject matter of this paragraph and supersede in their entirety all prior representations, understandings, undertakings or agreements (whether oral or written and whether expressed or implied), and specifically supersede any severance and/or change of control provisions of any offer letter, employment agreement, or equity award agreement entered into between you and the Company. For the avoidance of doubt, all other terms of any equity awards granted to you by the Company will remain in effect.

  • Severance Compensation upon Termination of Employment If the Company shall terminate the Executive’s employment other than pursuant to Section 5(a), (b) or (c) or if the Executive shall terminate his employment for Good Reason, then the Company shall pay to the Executive as severance pay in a lump sum, in cash, on the fifth day following the Date of Termination, an amount equal to three (3) times the average of the aggregate annual compensation paid to the Executive during the three (3) fiscal years of the Company immediately preceding the Change of Control by the Company subject to United States income taxes (or, such fewer number of fiscal years if the Executive has not been employed by the Company during each of the preceding three (3) fiscal years).

  • Severance Agreement Any payments of compensation made pursuant to Articles 4 and 5 are contingent on Executive executing the Company’s standard severance agreement, including a general release of the Company, its owners, partners, stockholders, directors, officers, employees, independent contractors, agents, attorneys, representatives, predecessors, successors and assigns, parents, subsidiaries, affiliated entities and related entities, and on Executive’s continued compliance with Section 6. Executive must execute the standard severance agreement and release within 45 days of being provided with the document to sign or the severance agreement offer will expire.

  • Severance and Validity The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect.

  • Compensation and Benefits Upon Termination (a) If Executive’s employment is terminated by reason of death or Disability, the Company shall pay Executive’s Base Salary, at the rate then in effect, in accordance with the payroll policies of the Company, through the date of such termination (in the event of Executive’s death, the payments will be made to Executive’s beneficiaries or legal representatives) and Executive shall not be entitled to any further Base Salary or any applicable bonus, benefits or other compensation for that year or any future year, except as may be provided in Sections 5(d) or (e) below or an applicable benefit plan or program, or to any severance compensation of any kind, nature or amount.

  • Severance Compensation In the event (i) Employee terminates this Agreement for Good Reason in accordance with Paragraph 11.3 hereof; (ii) Employee is terminated for any reason (except death or disability) upon, or within six months following, a "Change in Management or Control (as such term is defined in Paragraph 11.5 hereof);" or (iii) Employee is terminated without Cause, the Company shall be obligated to pay severance compensation to Employee in an amount equal to his salary compensation (at the rate payable at the time of such termination) for a period of six (6) months from the date of termination. Notwithstanding the foregoing, if Employee is employed by a new employer, or as a consultant after the termination of this Agreement, the severance compensation payable to Employee hereunder shall be reduced by the amount of compensation that Employee actually receives from the new employer, or as a consultant. However, Employee shall have a duty to inform the Company that he has obtained such new employment, and the failure to do so is a material breach of this Agreement. In such event, the Company shall be entitled to (i) cease all payments to Employee under this Paragraph 11.4; and (ii) recover any unauthorized payments to Employee in an action for breach of contract. Notwithstanding anything else in this Agreement to the contrary, solely in the event of a termination upon or following a Change in Management or Control, the amount of severance compensation paid to Employee hereunder shall not include any amount that the Company is prohibited from deducting for federal income tax purposes by virtue of Section 280G of the Internal Revenue Code of 1986, as amended, or any successor provision. In addition to the foregoing severance compensation, the Company shall pay Employee (i) all compensation for services rendered hereunder and not previously paid; (ii) accrued vacation pay; and (iii) any appropriate business expenses incurred by Employee in connection with his duties hereunder and approved pursuant to Section 4 hereof, all through the date of termination. Employee shall not be entitled to any bonus compensation, whether vested or unvested; or any other compensation, benefits or reimbursement of any kind.

  • Compensation and Benefits Upon Termination of Employment (a) If the Company shall terminate the Executive's employment after a Change in Control other than pursuant to Section 3(b), 3(c) or 3(d) and Section 3(f), or if the Executive shall terminate his employment for Good Reason, then the Company shall pay to the Executive, as severance compensation and in consideration of the Executive's adherence to the terms of Section 5 hereof, the following:

  • Severance Compensation and Benefits Not in Derogation of Other Benefits Anything to the contrary herein contained notwithstanding, the payment or obligation to pay any monies, or granting of any benefits, rights or privileges to Executive as provided in this Agreement shall not be in lieu or derogation of the rights and privileges that the Executive now has or will have under any plans or programs of or agreements with the Company, except that if the Executive received any payment hereunder, the Executive shall not be entitled to any payment under the Company’s severance policy for officers and directors.

  • Right to Severance Benefits The Executive shall be entitled to receive from the Company Severance Benefits, as described in Section 4.3, if the Executive has incurred a Qualifying Termination. The Executive shall not be entitled to receive Severance Benefits if his employment terminates (regardless of the reason) before the Protected Period (as such term is defined in Section 4.2(c)) corresponding to a Change in Control of the Company or more than twenty-four (24) months after the date of a Change in Control of the Company.

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