Status of Benefits. A. No benefits shall be provided you under Part Two of this letter agreement (including the accelerated vesting of your outstanding Options, the salary continuation payments and the Company-paid Health Care Coverage and Life Insurance Coverage) until the Present Value of the Option Parachute Payment attributable to both your Severance-Accelerated Options and your Acquisition-Accelerated Options has been determined and the status of any payments in dispute under Paragraph 2 above has been resolved in accordance therewith. The post-service exercise period in effect for your Options shall be stayed and shall not run until the resolution process hereunder is completed.
Status of Benefits. A. No salary/target bonus continuation payments will be made to you under Part Three of this letter agreement, until the Present Value of the Option Parachute Payment attributable to your Spring 2002 Focal Review Option and to each of your Other Options has been determined and the status of any payments in dispute under Paragraph 2 above has been resolved in accordance therewith. However, you will be permitted to exercise your Options at any time during the applicable exercise period following your Authorized Resignation or Involuntary Termination.
Status of Benefits. Neither the Sponsors nor the Plan Administrator makes any commitment or guarantee that any amounts paid to or for the benefit of a Participant under this Plan will be excludable from the Participant’s gross income for federal, state, or local income tax purposes. It shall be the obligation of each Participant to determine whether each payment under this Plan is excludable from the Participant’s gross income for federal, state, and local income tax purposes and to notify the Plan Administrator or Sponsors if the Participant has any reason to believe that such payment is not so excludable. Any Participant, by accepting a benefit under this Plan, agrees to be liable for any tax that may be imposed with respect to those benefits, plus any interest as may be imposed.
Status of Benefits. Health care coverages (as defined by COBRA) will continue under the same terms and conditions as while actively at work. Employee will be responsible for continuing to make contributions to these plans while on leave. FMLA leave will not constitute a break in the employee’s record of continuous service and the period of such leave of absence shall be included in the records as continuous service. Employees, following FMLA leave, will be restored to their original job and pay rate. The only exception would be changes that would have affected the employee if he / she had not gone on leave. These terms are subject to review if the corresponding FMLA regulations are revised or changed.
Status of Benefits. (i) No Severance Payment or Benefit Continuation will be made to Executive under this Agreement and none of his options shall vest and become exercisable on an accelerated basis hereunder, until the Present Value of the Option Parachute Payment attributable to the accelerated vesting of such options has been determined and the status of any payments in dispute under Section 11.3 has been resolved in accordance therewith. The post-termination exercise period for any options which cannot be exercised by reason of the foregoing limitation shall automatically be stayed and shall not be deemed to run during any period the option remains so unexercisable.
Status of Benefits. A. For the purposes of computing an employee's total length of service with the County, any period of extended sick leave shall not be considered a break in service, and the employee shall be able to accumulate service credit during the entire period of extended sick leave.
Status of Benefits. No benefits will be made available to the Executive under this Agreement until the value of such benefits has been determined and the status of any benefits in dispute under Section 10(b) above has been resolved in accordance therewith.
Status of Benefits a. No Severance Payment will be made to you under Part Two of this letter agreement until the Present Value of the Option Parachute Payment attributable to your Options has been determined and the status of any payments in dispute under Paragraph 2 above has been resolved in accordance therewith. However, you will be permitted to exercise your Options at any time during the one (1) year (or shorter) period immediately following your Involuntary Termination.
Status of Benefits. (If an employee becomes disabled during his leave of absence, he will not be entitled to the benefits as provided in the Company’s Sickness and Accident Plan.)
Status of Benefits. Payment under the applicable provision of this Section 4 shall be in lieu of any and all compensation and benefits of any kind or description to which the Executive might otherwise be entitled, under a severance pay plan or agreement or otherwise, as a result of the termination of his employment hereunder. Except for medical, dental and life insurance coverage continued pursuant to Section 4(c)(iii) or 4(d), Executive’s participation in Benefit Plans shall terminate pursuant to the applicable plan terms based on the date of termination of the Executive’s employment without regard to any continuation of Base Salary or other payment to the Executive following such date of termination. Nothing contained in this Section 4, however, shall constitute or be construed as constituting a waiver by the Executive of any rights to which the Executive became entitled prior to or on the date of termination under any Benefit Plan, other than any severance plan or policy of the Company.
