Examples of Company Severance Plans in a sentence
The Company also shall take such other actions in furtherance of terminating such Company Severance Plan(s) as Parent may reasonably require.
No event has occurred during the eighteen (18) months prior to the date hereof nor will the consummation of the transactions set forth herein meet the definition of a "change of control," as such term is defined in the Company's Senior Executive Severance Pay Plan or the Company's Executive Severance Pay Plan (collectively, the "Company Severance Plans").
At least five (5) Business Days before the Effective Time, the Company shall take all necessary actions to appoint a committee composed of three individuals, two of whom are designated by Ultimate Parent and one of whom is designated by the Compensation Committee of the Company’s Board of Directors, as the “Plan Administrator” for each of the Company Severance Plans following the Effective Time, with such appointments automatically effective as of the Effective Time.
As a condition to a Designated Participant’s acceptance of any PSU Award or Actual Award under this Program, such Designated Participant thereby expressly acknowledges and agrees that the terms of the Company Severance Plans and the vesting acceleration provisions set forth in the Equity Incentive Plan do not apply to such PSU Award or Actual Award.
With respect to RSU Awards and Actual Awards, the terms of this Program supersede any provisions set forth in any Company Severance Plans and also supersede any provisions set forth in the Equity Incentive Plan related to applicable treatment in the event of a Corporate Transaction.
The Parent shall receive from the Company evidence that the Company's and each Affiliate's (as applicable) Company Severance Plan(s) has been terminated, to the extent permitted under the applicable laws, pursuant to resolution of each such entity's Board of Directors (the form and substance of which resolutions shall be subject to review and approval of the Parent), effective as of the day immediately preceding the Closing Date.
As a condition to a Designated Participant’s acceptance of any RSU Award or Actual Award under this Program, such Designated Participant thereby expressly acknowledges and agrees that the terms of the Company Severance Plans and the vesting acceleration provisions set forth in the Equity Incentive Plan do not apply to such RSU Award or Actual Award.
With respect to PSU Awards and Actual Awards, the terms of this Program supersede any provisions set forth in any Company Severance Plans and also supersede any provisions set forth in the Equity Incentive Plan related to applicable treatment in the event of a Corporate Transaction.