Termination of Employee Benefits. Except as otherwise expressly provided herein, particularly in Section 5(b) above, Employee shall not be entitled to any other salary, bonuses, employee benefits or compensation from the Company or its Subsidiaries after the termination of Employee’s employment with the Company and all of Employee’s rights to salary, bonuses, employee benefits and other compensation hereunder which would have accrued or become payable after the termination of Employee’s employment with the Company (other than vested retirement or other benefits accrued on or prior to the termination of Employee’s employment with the Company, including, without limitation, any vested rights under any equity plan of the Company or other amounts owing hereunder as of the date of such termination or expiration that have not yet been paid) shall cease upon such termination or expiration, other than those expressly required under applicable law (such as COBRA). All such salary, bonuses, employee benefits or compensation shall be deemed unearned and all conditions for any right to receive such payments shall be deemed unsatisfied.
Termination of Employee Benefits. Employees who participate in the District insurance program and either receive notice of non-renewal effective at the end of school year, or submit notice of resignation effective at the end of the school year, or retire effective at the end of the school year, may continue to participate in the insurance program at their current level during June, July, and August of that year and continue to pay the employee share of the monthly premium. The Board will provide the opportunity for teachers terminating employment with the District to continue in the employee insurance program of the District, based on the requirements and limitations of State and Federal regulations (COBRA).
Termination of Employee Benefits. Except as specifically set forth in this Agreement, Executive shall cease to be eligible for coverage and benefits under the Company’s employee benefit plans, programs and policies as of the Separation Date, or by the terms of such plans, programs and policies.
Termination of Employee Benefits. Xx. Xxxxx agrees that all of his employee benefits will cease as of the Resignation Date (i.e., January 31, 2007), except as expressly provided herein.
Termination of Employee Benefits. Except as expressly set forth in this Agreement, EXECUTIVE shall not be entitled to receive any cash, in-kind compensation, or benefits of any kind or nature, for any periods after the expiration of the term of this Agreement. The foregoing prohibitions are not intended to limit, restrict, or deny EXECUTIVE any benefits under employee mandatory or fringe benefit plans or programs, in which EXECUTIVE participates on the Effective Date, that are earned by EXECUTIVE on or before the expiration date of this Agreement while being payable or distributable to EXECUTIVE after the expiration date.
Termination of Employee Benefits. Xxxxxxx’x eligibility to participate in and/or his receipt of, all employee benefits and perquisites will terminate as of the Separation Date, except for any applicable COBRA rights and any vested benefits under any Company-sponsored qualified retirement plans.
Termination of Employee Benefits. Employee further agrees that after the Separation Date, Employee no longer has any coverage or entitlement to benefits or contributions under any of Company’s benefit plans, except as stated herein or required by applicable law and with the exception of employee’s vested 401K account. The Employee will have the right to claim health benefits under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) per federal and/or state guidelines.
Termination of Employee Benefits. 52 5.7. Exclusivity; Proposed Acquisition Transactions ........................................................... 52 5.8. Non-Competition; Non-Solicitation ............................................................................. 53 5.9. Access to Information .................................................................................................. 54 5.10. Code Section 280G ...................................................................................................... 54 5.11. Registration of Stock Consideration ............................................................................. 55 5.12. Director and Officer Indemnification .......................................................................... 59 5.13. Lock-Up ...................................................................................................................... 59 5.14. R&W Policy ................................................................................................................. 59 5.15.
Termination of Employee Benefits. If requested by at least three (3) Business Days prior to the Closing Date, the Company (and its Affiliates, including the Company and its Subsidiaries) shall terminate (or shall cause to be terminated) any and all Company Plans intended to include a Code Section 401(k) arrangement (each, a “401(k) Plan”) and shall cause any professional employer organization or co-employer organization to terminate the participation of the Company in any 401(k) Plan maintained by such organization. Unless Buyer provides written notice to the Company as contemplated in the foregoing sentence, no later than three (3) Business Days prior to the Closing, the Company shall provide Buyer with evidence that each 401(k) Plan (if any) has been terminated and the participation of the Company in each 401(k) Plan (if any) has been terminated as applicable (effective as of no later than the day immediately preceding the Closing Date), pursuant to resolutions of the Board of Directors of the Company (or such Affiliate, as the case may be). The form and substance of such resolutions, if any be required, shall be subject to review and approval of Buyer. 1.7.
Termination of Employee Benefits. Xxxxxx'x eligibility to participate in the Company's employee benefits plans, including but not limited to participation in the Company's group health plan, retirement savings plan and other welfare or retirement plans, will terminate as of the Separation Date. Except as expressly provided in this Agreement, Xxxxxx'x eligibility to participate in and/or receive employee perquisites, including but not limited to use of country club privileges, will terminate as of the Separation Date; provided, however Xxxxxx shall retain the use of the automobile leased for him by the Company through the lease expiration date of December 31, 2012. Effective immediately after the Separation Date, Xxxxxx will become eligible to continue health and dental plan coverage for himself and his qualified beneficiaries pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"), as amended. To the extent Xxxxxx elects to continue such coverage, the Company shall pay on Xxxxxx'x behalf, on a taxable basis, the monthly costs of such coverage for up to eighteen (18) months from the Separation Date. The Company will provide Xxxxxx with the applicable COBRA notices and election form as required by COBRA.
