Examples of Employee Severance Payments in a sentence
If the Employee is terminated without Cause during any one-year extension of the initial term of the Agreement, then the Company shall continue to pay to Employee Severance Payments in accordance with its customary payroll practices for a period of twelve months after termination of such employment.
Employee Severance Payments: The Company explained that it operates under a business model to lower costs through increased efficiencies.
The Company shall deliver to Buyer not less than three (3) Business Days prior to the Closing Date a statement of Employee Severance Payments, in form and substance reasonably satisfactory to Parent, which shall be certified as true, complete and correct by the Chief Executive Officer and Chief Financial Officer of the Company (the “Statement of Employee Severance Amounts”) pursuant to an Officer Certification.
Schedule 5.2(t) also lists and describes as of December 31, 2006, the base salary, fringe benefits and perquisites of each such employee of Seller whose total current base salary exceeds or exceeded in any of the last two years $25,000 annually and the severance amount payable by Seller to each employee of Seller employed in the Business upon the termination of such employee's employment by Seller immediately prior to the Closing pursuant to Section 6.12 (the "Employee Severance Payments").
Defendant City of Tempe (“City”) filed its Answer on March 27, 2006.
Notwithstanding Section 5.01(vi), if Employee terminates Employee's employment, at Employee's option, within 3 months after a Change in Control (as defined below): Lawsxx xxxll pay Employee Severance Payments, as defined in Section 5.02(i).
Immediately after the Closing, Seller shall apply the Severance Contribution received from Buyer pursuant to Section 3.1 above to discharge, in part, the Employee Severance Payments and Seller shall be solely responsible for the payment of the balance of the Employee Severance Payments to its former employees.
To insure payment of the Employee Note and the indebtedness evidenced thereby, simultaneously herewith, Employee will sign a security agreement, in form approved by the Company (the "Security Agreement"), granting a security interest to the Company in the Employee Severance Payments and Employee Options and any shares or proceeds received upon the exercise of the Employee Options (the "Collateral").
Notwithstanding Section 5.01(vi), if Employee terminates Employee's employment, at Employee's option, within 3 months after a Change in Control (as defined below): (i) Lawsxx xxxll pay Employee Severance Payments, as defined in Section 5.02(i).
Number Exhibit 10.1 Limited Waiver to the Loan Agreement and Amendment No. 2 to Forbearance and Standstill Agreement, dated as of February 9, 2016.