Termination and Description of Special Benefits Sample Clauses

Termination and Description of Special Benefits. I understand that my employment with 4Front Ventures Corp. (including all of its subsidiaries and affiliates, collectively, “4Front”) was terminated effective as of the close of business on June 30, 2020 (the “Termination Date”). I understand that, regardless of whether I sign this Release, I have already been paid my normal salary and for my 242 hours of unused vacation/paid time off, and all of my other health and welfare benefits, accrued through the Termination Date. I also understand that the special benefits I will receive by timely signing and not revoking this Release are as follows:
Sample 1
AutoNDA by SimpleDocs
Termination and Description of Special Benefits. I understand that my employment with 4Front Ventures Corp. (including all of its subsidiaries and affiliates, collectively, “4Front”) was terminated effective as of the close of business on March 27, 2020 (the “Termination Date”). I also understand that regardless of whether I sign this Release, I will be paid my normal salary and for my 78.46 hours of unused vacation/paid time off accrued through the Termination Date, and will continue to receive health care benefits through the Termination Date so long as I continue to timely pay my portion of the premiums for such health care programs, consistent with the terms of the applicable health plan documents. I also understand that the special benefits I will receive by timely signing and not revoking this Release are as follows:
Sample 1
Termination and Description of Special Benefits. I also understand that regardless of whether I sign this Release, I will be paid my normal salary through the Termination Date. I understand that the special benefits I will receive by timely signing and not revoking this Release are:
Sample 1
Termination and Description of Special Benefits. I have submitted my resignation to the Company effective as of the close of business on May 31, 2020 (the “Termination Date”). I understand that the special benefits I will receive by timely signing and not revoking this Release are: (a) opportunity to receive up to fifty percent (50%) of my current annual target bonus amount for fiscal year 2020 (“Pro Rata 2020 Bonus”), which Pro Rata 2020 Bonus, if awarded, would be pro rated based on an amount commensurate with the achieved 2020 bonus of similarly-situated executive vice presidents at the Company and paid concurrently with regular employee bonus payments for fiscal year 2020. I understand that Special Benefits described above will begin only after I have executed this Release and the revocation period (described in Section 21 below) has expired. I further understand that after the Termination Date, I will be offered health benefits coverage through COBRA for a period of up to eighteen (18) months. Coverage will be provided under COBRA only if I sign applicable COBRA enrollment forms and submit required payments to Everi’s COBRA administrator in a timely fashion. In addition, with regard to (e) above, if the Company determines, in its sole discretion, that the payment of the COBRA premiums would result in a violation of the nondiscrimination rules of Section 105(h)(2) of the Internal Revenue Code of 1986, as amended (the “Code”), or any statute or regulation of similar effect (including but not limited to the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation Act), then in lieu of providing the COBRA premiums, the Company, in its sole discretion, may elect to instead pay me on the first day of each month of such applicable consulting period, a fully taxable cash payment equal to the COBRA premiums for that month, subject to applicable withholdings and deductions, and I may, but am not obligated to, use such payments toward the cost of COBRA premiums
Sample 1
Termination and Description of Special Benefits. I understand that as consideration for this Release the Company has agreed to provide me with certain payments and benefits reflected in the Employment Agreement, to which this Release is attached as an exhibit and which is incorporated herein by reference. If I accept other employment within the one-year period following my Termination Date, I must notify MillerCoors of that fact, the date of commencement of such employment, and the identity of my new employer within ten (10) days of accepting such employment. If the Company determines in its discretion that my new employer is a principal brewing industry competitor of MillerCoors, Molson Brewing Company ("MCBC"), SABMiller plc or Xxxxxx Brewing Company, including but not limited to Anheuser-Xxxxx InBev, Heineken, Diageo, Boston Beer, Group Modelo, Xxxxxx Xxxxx, FEMSA, Crown Imports, Yuengling, Pabst, Xxxx Xxxxxxx, North American Breweries, any other manufacturer of malt beverage products or any of their affiliates, or if I return to work with the Company, Molson Coors Brewing Company, SABMiller plc or Xxxxxx Brewing Company or any of their affiliates, I understand that - as of the date I accept employment – I forfeit any further severance pay or benefits. If I fail to notify MillerCoors of my acceptance of other employment, I understand that I will forfeit and be obligated to repay any severance pay which was paid and scheduled to be paid to me. If I have already received a lump sum payment and become re-employed with the Company, Molson Coors Brewing Company, SABMiller plc or Xxxxxx Brewing Company or any of their affiliates within the one-year period following my Termination Date, I will only be allowed to keep one week of severance pay (net of the proportionate amount of withholding) for every week after my Termination Date I was not employed by the Company. Any amount of severance pay that I received in excess of this amount must be repaid by me in full (including the federal, state, and FICA taxes withheld in the amount to be repaid). I agree that during the one-year period following my Termination Date, I will provide reasonable assistance with transitional issues to MillerCoors, if requested to do so by MillerCoors, primarily over the telephone, at reasonable times and places and in reasonable amounts. These transitional assistance services shall be provided without additional payment to me beyond my severance payments and benefits, except for reimbursement of pre-approved (in Exhibit 10.1 writing...
Sample 1
Termination and Description of Special Benefits. I understand that my employment with the Company will be terminated effective as of the close of business on January 1st, 2022 (the “Termination Date”). I also understand that regardless of whether I sign this Release, I will be paid my normal salary through the Termination Date, and will continue to receive health care benefits through the Termination Date so long as I continue to contribute to the costs of those programs. I also understand that the special benefit I will receive by timely signing and not revoking this Release is a severance payment equal to $53,500.00. I understand that I will receive my severance payment check, less employment and income tax withholding, no later than ten (10) days after the Termination Date, or ten (10) days after the date I deliver a signed copy of this Release to the Company, whichever date occurs later. I further understand that after the Termination Date, I will be offered health benefits coverage through the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) for a period of up to eighteen (18) months. Coverage will be provided under COBRA only if I sign applicable COBRA enrollment forms and submit required payments to the Company’s COBRA administrator in a timely fashion.
Sample 1

Related to Termination and Description of Special Benefits

  • Termination of Benefits Except as provided in Section 2 above or as may be required by law, Executive’s participation in all employee benefit (pension and welfare) and compensation plans of the Company shall cease as of the Termination Date. Nothing contained herein shall limit or otherwise impair Executive’s right to receive pension or similar benefit payments that are vested as of the Termination Date under any applicable tax-qualified pension or other plans, pursuant to the terms of the applicable plan.

  • Limitation of Benefits (a) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any benefit, payment or distribution by the Company to or for the benefit of the Executive (whether payable or distributable pursuant to the terms of this Agreement or otherwise) (a "Payment") would, if paid, be subject to the excise tax imposed by Section 4999 of the Code (the "Excise Tax"), then the Payment shall be reduced to the extent necessary to avoid the imposition of the Excise Tax. The Executive may select the Payments to be limited or reduced.

  • Termination and Termination Benefits Notwithstanding the provisions of Section 3, the Executive's employment under this Agreement shall terminate under the following circumstances set forth in this Section 6.

  • 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.

  • Compensation and General Benefits As compensation for his services under this Agreement, the Executive shall be compensated as follows:

  • Continuation of Benefits Following the termination of Executive’s employment hereunder, the Executive shall have the right to continue in the Company’s group health insurance plan or other Company benefit program as may be required by COBRA or any other federal or state law or regulation.

  • Distribution of Benefits Payment to Executive shall occur within thirty (30) days of the effective date of Executive's vesting in his Deferred Bonus Account. For purposes of determining the distributable amount, the Deferred Bonus Account shall be valued through the day prior to the day on which the Deferred Bonus Account is distributed, less any claim, debt, reimbursement, recoupment, or offset the Company may have against Executive.

  • Nonduplication of Benefits Notwithstanding any provision in this Agreement or in any other Employer benefit plan or compensatory arrangement to the contrary, but at all times subject to Section 7.4, (a) any payments due under Section 7.1, Section 7.2 or Section 7.3 shall be made not more than once, if at all, (b) payments may be due under Section 7.1, Section 7.2 or Section 7.3, but under no circumstances shall payments be made under all of or any combination of Section 7.1, Section 7.2 and Section 7.3, (c) no payments made under Sections 7.1, 7.2 and 7.3 this Agreement shall be considered compensation for purposes of any benefit plan or compensatory arrangement of Employer, and (d) Executive shall not be entitled to severance benefits from Employer other than as contemplated under this Agreement, unless such other severance benefits offset and reduce the benefits due under this Agreement on a dollar-for-dollar basis, but not below zero.

  • General Benefits During the Term of Employment, the Executive shall be entitled to participate in such employee pension and welfare benefit plans and programs of the Company as are made available to the Company's senior-level executives or to its employees generally, as such plans or programs may be in effect from time to time, including, without limitation, health, medical, dental, long-term disability, travel accident and life insurance plans.

  • Duration Termination of Trust Amendment Mergers Etc 11.1 Duration 17 11.2 Termination 17 11.3 Amendment Procedure 18 11.4 Merger, Consolidation and Sale of Assets 19 11.5 Subsidiaries 19 11.6 Conversion 19 11.7 Certain Transactions 19

Time is Money Join Law Insider Premium to draft better contracts faster.