Severance Pay Benefits. If the Executive's employment is terminated in a Qualifying Termination during the Protection Period, then the Executive shall be entitled to the following benefits:
Severance Pay Benefits. Provided Employee executes this Agreement, and has not revoked her acceptance of this Agreement as permitted by paragraph 6, and this Agreement has become effective within thirty (30) days of the Termination Date, Employer shall pay Employee (i) a lump sum payment as a one-time separation payment in the gross amount of One Hundred Seventy-Five Thousand Dollars ($175,000.00) minus all deductions required by law (“Separation Payment”) and (ii) a severance amount in the gross amount of Eight Hundred Four Thousand Six Hundred Eighty Seven Dollars and Fifty Cents ($804,687.50), minus all deductions required by law (“Severance”), and in accordance with the following terms and schedule:
Severance Pay Benefits. (a) The Company will pay the Employee, as a severance payment, an amount equal to the sum of (i) twelve (12) times the sum of her current monthly base salary (not including incentive compensation or benefits), plus (ii) twelve (12) times her monthly $500.00 vehicle allowance (exclusive of gasoline and oil expense reimbursements). Employee acknowledges that the Company has, as of the date of execution hereof, already made four (4) payments to the Employee pursuant to this obligation, and the Company agrees to continue to make such payments in equal bi-weekly installments in accordance with the Company's standard payroll practices. In addition, subject to paragraph 6(c), between January 4, 1999 and January 8, 1999, the Company will pay the Employee the lump sum of Fifty Thousand and No/100 Dollars ($50,000.00) in lieu of any incentive compensation.
Severance Pay Benefits. In consideration for founding the Company and for almost 15 years of service, SpectRx agrees to pay the Executive, two years severance at 50% of full salary (50% of $230,000 per year or $115,000 per year), to be paid out at the SpectRx's normal two week payroll interval, but not less than once every two weeks. The severance shall include full benefits not less than that offered to the new or interim CEO of SpectRx for a period of 24 months from the Resignation Date. SpectRx agrees to pay $50,000 of the severance in advance upon the consummation of the Asset Sale. SpectRx shall provide legal review of this Agreement to conform it with Rule 409A and both parties agree to make such amendments such that this Agreement shall conform with Rule 409A in all aspects, if applicable. The Executive is under no obligation to mitigate damages or the amount of any payment provided for hereunder by seeking other employment or otherwise; provided, however, that the Executive's coverage under SpectRx's welfare benefit plans will be reduced to the extent that the Executive becomes covered under any comparable employee benefit plan made available by another employer and covering the same type of benefits. The Executive will report to SpectRx any such benefits actually received by him
Severance Pay Benefits. If during the term of this Agreement Employee's employment terminates for any reason other than for cause, death or voluntary leaving, Employee shall receive the following pay and benefits:
Severance Pay Benefits. If you (i) sign, timely deliver, and do not revoke this Severance Agreement as described in Paragraph 21 and (ii) sign and timely deliver the Supplemental Release in the form set forth as Attachment A hereto (the “Supplemental Release”) on the Separation Date and do not subsequently revoke the Supplemental Release within the time period set forth therein, the Company will, following the Effective Date (as defined in the Supplemental Release), provide you with the following benefits (collectively, the “Severance Pay Benefit”), subject to the terms and conditions contained in this Agreement, the Award Agreements, and the Plan:
Severance Pay Benefits. Following the Paid Leave Period, Employee shall be paid through payroll for a period of six months, beginning April 20, 2017 and ending October 20, 2017 (“Severance Period”), and shall receive compensation at Employee’s established 2017 rate, less applicable payroll deductions. Severance payments will be made each pay period at the same times that compensation is paid to other employees. Employee will not accrue paid time off leave benefits or receive a car allowance during the Severance Period, but Employer will contribute to PERA and will continue to match Employee’s personal contribution to the ICMA-RC 457 deferred compensation program up to $5,000 or the annual maximum per year authorized by law. As of October 21, 2017, Employee shall no longer be considered an employee of the City.
Severance Pay Benefits. Subject to Section 3 hereof, if your ---------------------- employment shall be terminated in a Qualifying Termination, then you shall be entitled to the severance pay benefits provided below:
Severance Pay Benefits. (a) The Company will pay the Employee, as a severance payment, an amount equal to the sum of (i) twelve (12) times her current monthly base salary (not including incentive compensation or benefits), plus (ii) twelve (12) times her monthly $500.00 vehicle allowance (exclusive of gasoline and oil expense reimbursements). In addition, between January 4, 1999 and January 8, 1999 Employee will be paid (i) a lump sum payment of Fifty Thousand and No/100 Dollars ($50,000.00) in lieu of any incentive compensation, (ii) any earned but unpaid base salary through the Termination Date, (iii) any unpaid vehicle allowance through the Termination Date, and (iv) subject to the Company's standard reimbursement policies, expense reimbursements owed to Employee in respect to her employment through the Termination Date. Employee agrees that she is not entitled to any accrued vacation. In the event Employee has not secured either (i) full-time employment or (ii) been otherwise so engaged at an annualized rate of compensation of at least $125,000.00, Company will pay Employee, as additional severance, a sum per month equal to her current monthly base salary (not including incentive compensation or benefits) plus Five Hundred and No/100 Dollars ($500.00) (reflecting her monthly vehicle allowance exclusive of gasoline and oil expense reimbursements) for six (6) months or, if earlier, such time as Employee (i) secures full-time employment or (ii) is otherwise engaged and receiving annualized compensation of at least $125,000.00. Subject to paragraph 6(c), any severance payments hereunder to be made following the Termination Date will be made in installments in accordance with the Company's standard payroll practices.
Severance Pay Benefits. Severance Pay Plan
