Termination Benefits Sample Clauses
Termination Benefits. In the event Employee's employment with the Trust or the successor owner of the Trust is involuntarily terminated due to a Change in Control but not for cause, and such termination occurs within 24 months following the Change in Control or within ninety 90 days before the Change in Control as specified in Section 1(B), the Trust or the successor owner shall provide Employee with the following termination benefits:
Termination Benefits. The Company will provide the Executive with only those termination benefits described in Section 5.00.
Termination Benefits. Subject to the conditions set forth in Section 2, the following benefits shall be paid or provided to the Executive:
Termination Benefits. If the Executive is entitled to termination benefits pursuant to paragraph 1 hereof, the Company agrees to pay to the Executive as termination benefits in a lump-sum payment within five (5) calendar days of the termination of the Executive's employment an amount to be computed by multiplying (i) the Executive's average annual compensation (as defined in Section 280G of the Internal Revenue Code of 1986, as amended (the "Code")) payable by the Company which was includable in the gross income of the Executive for the most recent five (5) calendar years ending coincident with or immediately before the date on which control of the Company is acquired (or such portion of such period during which the Executive was an employee of the Company), by (ii) two hundred ninety-nine and ninety-nine one hundredths percent (299.99%). For purposes of this Agreement, employment and compensation paid by any direct or indirect subsidiary of the Company will be deemed to be employment and compensation paid by the Company.
Termination Benefits. Buyer shall be solely responsible for, and shall pay or cause to be paid, severance payments and other termination benefits, if any, to Affected Employees who may become entitled to such benefits by reason of any events occurring after Closing. If any action on the part of Sellers prior to the Closing, or if the sale to Buyer of the business and assets of Sellers pursuant to this Agreement or the transactions contemplated hereby, or if the failure by Buyer to hire as a permanent employee of Buyer any employee of Sellers, shall directly or indirectly result in any Liability (i) for severance payments or termination benefits or (ii) by virtue of any state, federal or local “plant-closing” or similar law, such Liability shall be the sole responsibility of Sellers, and Sellers and Members shall, jointly and severally, indemnify and hold harmless Buyer against such Liability.
Termination Benefits. If this Agreement expires, or if during the Term the Corporation terminates this Agreement and Executive's employment hereunder as a result of any of the following, Executive will be entitled to the following termination compensation or severance benefits:
Termination Benefits. In addition to the benefits described under the Agreement that survive the termination of the Agreement, the following benefits will be paid on account of the termination of the Agreement for the following reasons:
Termination Benefits. Subject to Section 4, if Executive is entitled to termination benefits pursuant to Section 1 hereof, the Company shall pay or provide the following:
Termination Benefits. Upon a termination of Executive's employment in accordance with Section 3, Executive shall be entitled to receive the following Termination Benefits:
Termination Benefits. The “Termination Benefits” payable in accordance with paragraphs 4 and 5 are the following payments and benefits: