Common use of Severance Compensation Clause in Contracts

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive’s employment during the Protection Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment during the Protection Period pursuant to Section 3(b), the Company will pay to the Executive the amounts described in Annex A at the times and in the manner described therein.

Appears in 5 contracts

Samples: Change in Control (Cliffs Natural Resources Inc.), Change in Control (Cliffs Natural Resources Inc.), Change in Control (Cliffs Natural Resources Inc.)

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Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive’s 's employment during the Protection Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment during the Protection Period pursuant to Section 3(b), the Company will shall pay to the Executive the amounts described in Annex A at within five business days after the times Termination Date and in shall provide to the manner Executive the benefits described on Annex A for the periods described therein.

Appears in 5 contracts

Samples: Control Severance Agreement (Laidlaw International Inc), Control Severance Agreement (Laidlaw International Inc), Severance Agreement (Laidlaw International Inc)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive’s employment during the Protection Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his Executive’s employment during the Protection Period pursuant to Section 3(b), the Company will pay be obligated to make the Executive following payments and provide the amounts described in Annex A at the times and in the manner described thereinfollowing benefits to Executive.

Appears in 5 contracts

Samples: Severance Agreement (Sherwin Williams Co), Severance Agreement (Sherwin Williams Co), Severance Agreement (Sherwin Williams Co)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive’s 's employment during the Protection Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii3(a), or if the Executive terminates his Executive's employment during the Protection Period pursuant to Section 3(b), the Company will pay to the Executive the amounts described in Annex A at the times and in the manner described therein.following:

Appears in 3 contracts

Samples: Employment Agreement (Playboy Enterprises Inc), Severance Agreement (Playboy Enterprises Inc), Severance Agreement (Playboy Enterprises Inc)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive’s 's employment during the Protection Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment during the Protection Period pursuant to Section 3(b), the Company will pay to the Executive the amounts described in Annex A at within ten business days after the times Termination Date and will continue to provide to the Executive the benefits described on Annex A for the periods described therein, provided the Executive executes a release in the manner described therein.form attached hereto as Annex C.

Appears in 3 contracts

Samples: Severance Agreement (Cambridge Technology Partners Massachusetts Inc), Severance Agreement (Cambridge Technology Partners Massachusetts Inc), Severance Agreement (Cambridge Technology Partners Massachusetts Inc)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive’s employment during the Protection Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii3(a), or if the Executive terminates his Executive’s employment during the Protection Period pursuant to Section 3(b), the Company will pay to the Executive the amounts described in Annex A at the times and in the manner described therein.following:

Appears in 2 contracts

Samples: Severance Agreement (Playboy Enterprises Inc), Severance Agreement (Playboy Enterprises Inc)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive’s 's employment is terminated during the Protection Severance Period other than pursuant to Section Sections 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment during the Protection Period pursuant to Section 3(b), the Company will pay to the Executive (or other Person as appropriate) as severance benefits the appropriate amounts described in on Annex A at within five business days after the times Termination Date and in will continue to provide to the manner Executive the continuing benefits described on Annex A for the periods described therein.

Appears in 2 contracts

Samples: Severance Agreement (CTS Corp), Severance Agreement (CTS Corp)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary Subsidiary, as the case may be, terminates the Executive’s 's employment during the Protection Severance Period applicable to such Change in Control other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment during the Protection Period pursuant to Section 3(b), the Company will pay to the Executive the amounts described in Annex A at following lump sum payment within five business days after the times Termination Date and in continue to provide to the manner described therein.Executive the following benefits:

Appears in 1 contract

Samples: Control Severance Agreement (Detroit Edison Co)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary an Affiliate of the Company terminates the Executive’s 's employment during the Protection Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment during the Protection Period pursuant to Section 3(b), the Company will pay to the Executive the amounts described in Annex A at within five business days after the times Termination Date and in will continue to provide to the manner Executive the benefits described on Annex A for the periods described therein.

Appears in 1 contract

Samples: Change in Control Severance Agreement (Roadway Corp)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive’s employment during the Protection Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment during the Protection Period pursuant to Section 3(b) or (c), the Company will shall pay to the Executive the amounts described in Annex A at within five business days after the times Termination Date and in shall provide to the manner Executive the benefits described on Annex A for the periods described therein.

Appears in 1 contract

Samples: Control Severance Agreement (Vermont Transit Co Inc)

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Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive’s 's employment during the Protection Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment during the Protection Period pursuant to Section 3(b), ) the Company will pay to the Executive the following amounts described in Annex A at within five business days after the times Termination Date and in continue to provide to the manner described therein.Executive the following benefits:

Appears in 1 contract

Samples: Severance Agreement (MPW Industrial Services Group Inc)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive’s 's employment during the Protection Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment during the Protection Period pursuant to Section 3(b), the Company will pay to the Executive Executive* the amounts described in Annex A at within ten business days after the times Termination Date and will continue to provide to the Executive the benefits described on Annex A for the periods described therein, provided the Executive executes a release in the manner described therein.form attached hereto as Annex C.*as per the agreement with MADIAN S.A.

Appears in 1 contract

Samples: Severance Agreement (Cambridge Technology Partners Massachusetts Inc)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive’s 's employment during the Protection Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment during the Protection Period pursuant to Section 3(b), the Company will pay to the Executive the amounts described in Annex A at within five business days after the times Termination Date and in will continue to provide to the manner Executive the benefits described on Annex A for the periods described therein.

Appears in 1 contract

Samples: Severance Agreement (Harman International Industries Inc /De/)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary a Subsidiary, as the case may be, terminates the Executive’s 's employment during the Protection Severance Period applicable to such Change in Control other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment during the Protection Period pursuant to Section 3(b), the Company will pay to the Executive the amounts described in Annex A at the times and in the manner described therein.benefits:

Appears in 1 contract

Samples: Control Severance Agreement (Dte Energy Co)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive’s 's employment during the Protection Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his employment during the Protection Period pursuant to Section 3(b), the Company will pay to the Executive the following amounts described in Annex A at within five business days after the times Termination Date and in continue to provide to the manner described therein.Executive the following benefits:

Appears in 1 contract

Samples: Severance Agreement (Autobond Acceptance Corp)

Severance Compensation. (a) If, following the occurrence of a Change in Control, the Company or Subsidiary terminates the Executive’s employment during the Protection Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates his the Executive’s employment during the Protection Period pursuant to Section 3(b), provided that the Executive executes a release substantially in the form attached hereto as Annex A, the Company will pay to the Executive the amounts described in Annex A at the times and in the manner described therein.will:

Appears in 1 contract

Samples: Severance Agreement (Washington Group International Inc)

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