Termination Events Resulting in Severance Payments Sample Clauses

Termination Events Resulting in Severance Payments. In the event of the termination of the Executive's employment:
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Termination Events Resulting in Severance Payments. In the event of the termination of the Employee’s employment by GTC without cause, then GTC shall make severance payments to the Employee in the amount set forth in, and payable in accordance with, Section 1.2. No severance shall be payable in the event that the Employee’s employment is terminated (a) by the Employee, (b) by GTC in the event of the Employee’s death or inability, by reason of physical or mental impairment, to perform substantially all of the Employee’s duties for a continuous period of 120 days, or (c) by GTC in the event of the Employee’s breach of any material duty or obligation to GTC, or intentional or grossly negligent conduct that is materially injurious to GTC (as reasonably determined by GTC’s Board of Directors) or willful failure to follow the reasonable directions of GTC’s CEO.
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Termination Events Resulting in Severance Payments. In the event of the Termination Without Cause by LXR under Section 4.1(b) then LXR shall make severance payment(s) to Executive equal to twelve (12) months of the Executive's base salary as of the date of such termination (the "Base Salary Payment"). Such severance amount shall be payable in installments in accordance with LXR's payroll practice.
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Termination Events Resulting in Severance Payments. In the event of the termination of the Executive's employment by HVDC under Section 4.1(b) or by Executive under 4.1(d), then HVDC shall make severance payments to Executive equal to (A) one-half of the Executive's annual base salary pursuant to Section 2.1(i), plus (B) one-half of the annual amount of cash bonus most recently awarded purusant to Section 2.1(ii) (collectively, the "Base Salary Payment"). The Base Salary Payment shall be payable in a lump sum immediately after termination. No severance shall be payable in the event that Executive's employment is terminated by HVDC pursuant to Section 4.1(a) or (c). Upon termination of Executive's employment for any reason, Executive shall have no obligation of mitigation. All options vested under Section 2.3 shall continue to be exercisable until their expiration date, notwithstanding any termination hereunder.
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Termination Events Resulting in Severance Payments. In the event of the termination of the Employee's employment by GTC without cause, then GTC shall make severance payments to the Employee in the amount set forth in, and payable in accordance with, Section 1.2. No severance shall be payable in the event that the Employee's employment is terminated (a) by the Employee, (b) by GTC in the event of the Employee's death or inability, by reason of physical or mental impairment, to perform substantially all of the Employee's duties for a continuous period of 120 days, or (c) by GTC in the event of the Employee's breach of any material duty or obligation to GTC, or intentional or grossly negligent conduct that is materially injurious to GTC (as reasonably determined by GTC's Board of Directors) or willful failure to follow the reasonable directions of GTC's executive officers.
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Termination Events Resulting in Severance Payments. In the event of the termination of the Employee's employment by GTC without cause including change in control, then GTC shall make severance payments to the Employee in the amount set forth in, and payable in accordance with, Section 1.2. No severance shall be payable in the event that the Employee's employment is terminated (a) by the Employee, (b) by GTC in the event of the Employee's death or inability, by reason of physical or mental impairment, to perform substantially all of the Employee's essential duties with or without reasonable accommodation for a continuous period of 120 days, or (c) by GTC in the event of the Employee's breach of any material duty or obligation to GTC, or intentional or grossly negligent conduct that is materially injurious to GTC (as reasonably determined by GTC's Board of Directors) or willful failure to follow the reasonable directions of GTC's executive officers.
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Termination Events Resulting in Severance Payments. In the event of the termination
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Related to Termination Events Resulting in Severance Payments

  • Termination Giving Rise to a Termination Payment If there is a Covered Termination by the Executive for Good Reason, or by the Company other than by reason of (i) death, (ii) disability pursuant to Section 11, or (iii) Cause, then the Executive shall be entitled to receive, and the Company shall promptly pay, Accrued Benefits and, in lieu of further base salary for periods following the Termination Date, as liquidated damages and additional severance pay and in consideration of the covenant of the Executive set forth in Section 13(a), the Termination Payment pursuant to Section 8(a).

  • PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION (a) Upon the occurrence of an Event of Termination (as herein defined) during the Executive's term of employment under this Agreement, the provisions of this Section shall apply. As used in this Agreement, an "

  • SEVERANCE COMPENSATION IN THE EVENT OF A TERMINATION OTHER THAN FOR CAUSE In the event of a Termination Other Than for Cause, the Employee shall be paid as severance compensation his Base Salary (at the rate payable at the time of such termination) for a period of twelve (12) months from the date of such termination, on the dates specified in Section 3.1, and Employee shall also be paid an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination. Notwithstanding anything in this Section 4.2 to the contrary, the Employee may in the Employee’s sole discretion, by delivery of a notice to the Employer within thirty (30) days following a Termination Other Than for Cause, elect to receive from the Employer a lump sum severance payment by bank cashier’s check equal to the present value of the flow of cash payments that would otherwise be paid to the Employee pursuant to this Section 4.2. Such present value shall be determined as of the date of delivery of the notice of election by the Employee and shall be based on a discount rate equal to the interest rate on 90-day U.S. Treasury bills, as reported in The Wall Street Journal (or similar publication), on the date of delivery of the election notice. If the Employee elects to receive a lump sum severance payment, Avocent Corporation shall cause the Employer to make such payment to the Employee within ten (10) days following the date on which the Employee notifies the Employer of the Employee’s election. The Employee shall also be entitled to have the vesting of any awards granted to the Employee under any AHC or Avocent stock option plans fully accelerated. The Employee shall be provided with medical plan benefits under any health plans of Avocent or Employer in which the Employee is a participant to the full extent of the Employee’s rights under such plans for a period of twelve (12) months from the date of such Termination Other Than for Cause (even if Employee elects to receive a lump sum severance payment).

  • Severance Compensation upon Termination Subject to the provisions of Section 10 hereof, in the event of the Employee’s Termination upon a Change of Control, the Company shall pay to the Employee, within fifteen (15) days after the Termination Date (or as soon as possible thereafter in the event that the procedures set forth in paragraph (b) of Section 11 hereof cannot be completed within fifteen (15) days) an amount in cash equal to three (3) times the sum of the Employee’s Base Salary in effect either immediately prior to the Separation from Service or immediately prior to the Change of Control, whichever is higher.

  • Termination After a Change in Control You will receive Severance Benefits under this Agreement if, during the Term of this Agreement and after a Change in Control has occurred, your employment is terminated by the Company without Cause (other than on account of your Disability or death) or you resign for Good Reason.

  • Termination Severance Either party may terminate the employment relationship as evidenced by this Agreement at any time and for any reason upon ninety days written notice to the other.

  • Termination Upon a Change in Control If Executive’s employment is subject to a Termination within a Covered Period, then, in addition to Minimum Benefits, the Company shall provide Executive the following benefits:

  • Rights in Event of Termination of Employment Absent Change in Control (a) In the event that Executive's employment is involuntarily terminated by HMS without Cause and no Change in Control shall have occurred as of the date of such termination, upon execution of a mutual release, HMS will provide Executive with the following pay and benefits: (i) a payment in an amount equal to the greater of: that portion of the Executive’s Agreed Compensation for the then existing Employment Period that has not been paid to Executive as of the date his employment terminates, or 1.0 times the Executive’s Agreed Compensation. Such amount shall be payable in twelve (12) equal monthly installments; and (ii) subject to plan terms, Executive’s continued participation in HMS's employee benefit plans for twelve (12) months or until Executive secures substantially similar benefits through other employment, whichever shall first occur. If Executive is no longer eligible to participate in an employee benefit plan because he is no longer an employee, HMS will pay Executive the amount of money that it would have cost HMS to provide the benefits to Executive. However, in the payments described herein, when added to all other amounts or benefits provided to or on behalf of the Executive in connection with his termination of employment, would result in the imposition of an excise tax under Code Section 4999, such payments shall be retroactively (if necessary) reduced to the extent necessary to avoid such imposition. Upon written notice to Executive, together with calculations of HMS's independent auditors, Executive shall remit to HMS the amount of the reduction plus such interest as may be necessary to avoid the imposition of such excise tax. Notwithstanding the foregoing or any other provision of this Agreement to the contrary, if any portion of the amount herein payable to the Executive is determined to be non-deductible pursuant to the regulations promulgated under Section 280G of the Code, then HMS shall be required only to pay to Executive the amount determined to be deductible under Section 280G.

  • Termination Due to Change in Control If the Company terminates Executive's employment without Cause (and for reasons other than death or Disability) in conjunction with a Change in Control (as defined below), Executive shall be entitled to receive all accrued but unpaid salary and benefits through the date of termination plus the Change in Control Benefit (as defined below).

  • Termination After Change in Control Sections 9.2 and 9.3 set out provisions applicable to certain circumstances in which the Term may be terminated after Change in Control.

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