Transition Period Benefits Sample Clauses

Transition Period Benefits. During the Transition Period, you will: (a) remain eligible to participate in Company benefit plans, including basic health coverage and the Executive Health Care Plan, pursuant to the terms and conditions of those plans as they may be amended from time to time, as applicable to all plan participants; (b) receive a car allowance in the amount of $1,200 per month (prorated for any partial months of employment service), subject to any applicable taxes; and (c) be eligible for a 401(k) match pursuant to the Company’s 401(k) policy as applicable to executive employees. For the avoidance of doubt, during the Transition Period you will not be eligible for any other benefits other than as set forth in this paragraph, including without limitation, any enhanced benefits with respect to a change in control as may be set forth in any Company policy, plan or agreement, including but not limited to the Severance Agreement (as defined in Paragraph 8 below).
Sample 1
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Transition Period Benefits. Subject to Sections 4 and 8, below, as an inducement for you to continue your employment with the Company during the Transition Period; in exchange for your signing this Agreement and not revoking your acceptance of this Agreement; and subject to your compliance with your obligations under this Agreement (including Section 2, above), the Company will provide you with the following benefits:
Sample 1
Transition Period Benefits. During the Transition Period, you will be entitled to continue your participation in the following Company benefit plans pursuant to the terms of those plans: (i) group health medical insurance; (ii) group health dental insurance; (iii) company-sponsored life insurance; (iv) 401(k) plan (including the Company’s matching contribution); and (v) short term and long term disability insurance. You will not, however, continue to accrue vacation days, sick days or other paid time off during the Transition Period, nor will you be entitled to any automobile allowance during this period.
Sample 1
Transition Period Benefits. If the Company terminates your employment without Cause prior to February 28, 2014, then, although you otherwise would not have been entitled to receive any severance benefits from the Company, provided you have signed this Agreement and if you sign and do not revoke the Second Release and satisfy all conditions stated in the Second Release to make such release effective within sixty (60) days following your Separation Date, then no later than the 61st day following your Separation Date: (i) the Company will pay you in a lump sum the remaining base salary you would have been paid had you remained employed through February 28, 2014; (ii) the Company will pay you in a lump sum your 1HFY14 Variable Bonus, to the extent your Separation Date occurs on or after the applicable measurement period and such bonus has not already been paid to you; and (iii) you will be entitled to accelerated vesting of your outstanding equity awards as though you had remained employed with the Company through February 28, 2014 (the benefits and payments in subsections (i) – (iii), the “Transition Period Benefits”). For clarity, if you voluntarily resign your employment or the Company terminates your employment for Cause prior to February 28, 2014, you will not be entitled to any of the Transition Period Benefits set forth in this section.
Sample 1
Transition Period Benefits 
Sample 1

Related to Transition Period Benefits

  • Transition Period Upon termination of this Agreement, and for 90 consecutive calendar days thereafter (the “TRANSITION PERIOD”), Executive agrees to make himself available to assist the Company with transition projects assigned to him by the Board. Executive will be paid at a reasonable, agreed upon hourly rate for any work performed for the Company during the Transition Period.

  • Accrued Benefits The term "Accrued Benefits" shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive's employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company and its Affiliates for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained; and (v) all other payments and benefits to which the Executive (or in the event of the Executive's death, the Executive's surviving spouse or other beneficiary) may be entitled as compensatory fringe benefits or under the terms of any benefit plan of the Employer, including severance payments under the Employer's severance policies and practices in the form most favorable to the Executive that were in effect at any time during the 180-day period prior to the Effective Date. Payment of Accrued Benefits shall be made promptly in accordance with the Employer's prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits.

  • Employment Period Compensation In consideration of the other provisions of this Agreement, and the Executive’s agreement to execute a Release Agreement, substantially in the form attached hereto as Exhibit B, in the event of his termination under relevant circumstances pursuant to which he would be paid severance benefits, ESC shall provide the Executive with the following payments and benefits, both those set forth in this section and elsewhere in this Agreement:

  • Severance Period For purposes of this Agreement, “Severance Period” means the period of time commencing immediately after Executive’s separation of service from the Company through the date that is six (6) months following such separation date, plus an additional two (2) months for every fully completed Year of Service; provided, however, that in all cases the Severance Period will end no later than on the twelve (12)-month anniversary of the date of Executive’s termination of employment.

  • Employment Benefits In addition to the Salary payable to the Executive hereunder, the Executive shall be entitled to the following benefits:

  • Post-Employment Benefits A. If Employee's employment is terminated by ARAMARK for any reason other than Cause, Employee shall be entitled to the following post-employment benefits:

  • ADDITIONAL COMPENSATION AND BENEFITS The Executive shall receive the following additional compensation and welfare and fringe benefits:

  • Death After Termination of Employment But Before Benefit Payments Commence If the Executive is entitled to benefit payments under this Agreement, but dies prior to the commencement of said benefit payments, the Company shall pay the benefit payments to the Executive's beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's death.

  • Termination of Employment with Severance Benefits (a) The Executive shall be entitled to the severance benefits described in section 9(b) in the event that:

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

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