Benefits Period definition

Benefits Period shall have the meaning set forth in Paragraph 26.

Benefits Period means a period, commencing on the date that the Executive's employment with the Corporation and all of its Subsidiaries terminates and ending on the earlier of (a) the end of the initial Post-Employment Restriction Period and (b) the date that the Executive commences other employment or any consulting arrangement. The amount of the monthly payments shall be equal to one-twelfth (1/12) of the Executive's annual base compensation as in effect on the date of termination during the Benefits Period and 50% of such amount thereafter until the end of the initial Post-Employment Restriction Period determined by this Paragraph 26c.

Benefits Period means the period commencing on the Date of Termination (as defined herein) and continuing thereafter for the number of months equal to the product of 12 and the Classification Factor.

Examples of Benefits Period in a sentence

• If Executive and Executive’s dependents continue coverage pursuant to COBRA following the conclusion of the Covered Termination Benefits Period, Executive will be responsible for the entire payment of such premiums required under COBRA for the duration of the COBRA period.

• If Executive and Executive’s dependents continue coverage pursuant to COBRA following the conclusion of the Change in Control Benefits Period, Executive will be responsible for the entire payment of such premiums required under COBRA for the duration of the COBRA period.

• The Executive shall be obligated to give prompt notice of the date of commencement of any employment or self-employment during the Termination Benefits Period and shall respond promptly to any reasonable inquiries concerning any employment or self-employment in which the Executive engages during the Termination Benefits Period.

• If, prior to the end of the Benefits Period, the Executive violates Section 6 hereof, then the Company shall have no obligation to make any of the payments and benefits required to be made under this Section 5.1 on or after the date of such violation.

• In the event that Executive's participation in any such plan or program is barred, Employer, at its sole cost and expense shall use its commercially reasonable efforts to provide Executive with benefits substantially similar to those that Executive was entitled to receive under such plans and programs for the remainder of the Benefits Period.

More Definitions of Benefits Period

Benefits Period shall have the meaning set forth in Section 6.1(I) hereof.

Benefits Period means the number of months equal to the product of twelve (12) multiplied by the Severance Multiple for the applicable Participant.

Benefits Period means that period of time beginning on the day after the Executive's last day of employment with the Corporation and ending on the earlier of (a) the end of his Severance Period or (b) the date on which the Executive becomes eligible for benefits in connection with his acceptance of a position with another company. Nothing contained in this section shall be deemed to affect the Executive's right to purchase extended medical or other coverages under the Consolidated Omnibus Budget Reconciliation Act ("COBRA") or any other similar rule, regulation or statute binding upon the Corporation. The Corporation and Executive agree that the commencement date of any period during which the Executive is entitled to purchase extended medical or other coverage under COBRA shall be the date immediately following the end of his Severance Period.

Benefits Period has the meaning assigned to such term in Section 5.2(c) hereof.

Benefits Period means that period of time beginning on the day after the Executive's last day of employment with the Corporation and ending on the earlier of (a) the end of his Severance Period, or (b) the date on which the Executive becomes eligible for benefits in connection with his acceptance of a position with another company or employer.

Benefits Period the Company shall arrange to provide the Executive with Employee Benefits (except that the Company shall not be required to grant stock options, stock purchase rights, restricted stock, or stock appreciation rights during the Benefits Period) substantially similar to those which the Executive was receiving or entitled to receive immediately prior to the Termination Date (and if and to the extent that such benefits shall not or cannot be paid or provided under any policy, plan, program or arrangement of the Company or its Subsidiaries solely due to the fact that the Executive is no longer an officer or employee of the Company and its Subsidiaries, then the Company shall itself pay or provide for the payment to the Executive, his dependents and beneficiaries, such Employee Benefits) and (B) without limiting the generality of the foregoing, the Benefits Period shall be considered service with the Company and its Subsidiaries for the purpose of service credits under the retirement income, supplemental executive retirement and other plans for Employee Benefits of the Company and its Subsidiaries applicable to the Executive or his beneficiaries immediately prior to the Termination Date. Without otherwise limiting the purposes or effect of Section 6 hereof, Employee Benefits payable to the Executive pursuant to this Section 5(a)(ii) by reason of any "welfare benefit plan" of the Company (as the term "welfare benefit plan" is defined in Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended) shall be reduced to the extent comparable welfare benefits are actually received by the Executive from another employer during the Benefits Period.

Benefits Period means that period of time commencing upon the Termination Date and ending upon: (i) if you are at the level of Senior Vice President and above, the second (2nd) anniversary of the Termination Date; and (ii) if you are at the level of Director or Vice President, the first (1st) anniversary of the Termination Date.