Post-Termination Benefits definition

Post-Termination Benefits means, at the Parent’s election, either (i) payment by the Companies to the Executive of an amount equal to the cost of any perquisites, welfare benefits, and retirement plan contributions the Executive would otherwise have been eligible to receive in the twelve (12) months following the Executive’s Date of Termination, or (ii) the provision, for twelve (12) months following the Executive’s Date of Termination, in kind by the Company to the Executive of the perquisites, welfare benefits, or retirement plan contributions described in clause (i) of this definition, provided that, in the case of provision of benefits under clause (ii), the Parent has determined in its reasonable and sole discretion that it would be permissible to do so under the terms of any applicable plan and applicable law. For the sake of clarity, COBRA Coverage Benefits shall be as provided in Section 24(d) above.
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Post-Termination Benefits means, at the Parent’s election, either (i) payment by the Companies to the Executive of an amount equal to the cost of any perquisites, welfare benefits, and retirement plan contributions the Executive would otherwise have been eligible to receive in the twelve (12) months following the Executive’s Date of Termination, or
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Post-Termination Benefits means (i) continuing payment of Executive’s base salary in effect at the time of termination for the greater of 9 months following the date of termination or the balance of the then applicable Term, and (ii) continuing coverage of Executive, his spouse and children, if any, at the Company’s expense, under any health and dental insurance plans that covered Executive immediately prior to termination, for a period of six (6) months following the date of termination.
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Examples of Post-Termination Benefits in a sentence

  • Executive acknowledges: (a) that he has been advised to consult with an attorney regarding this Release; (b) that he has, in fact, consulted with an attorney regarding this Release; (c) that he has carefully read and understands all of the provisions of this Release; and (d) that he is knowingly and voluntarily executing this Release in consideration of the Post-Termination Benefits provided under the Employment Agreement.

  • Executive further understands that he shall relinquish any right he has to Post-Termination Benefits described in the Employment Agreement if he exercises his right to revoke this Release.

  • If the Companies, or either of them, terminate the Executive’s employment during the Employment Period because of the Executive’s Disability, the Company shall pay or provide to the Executive (i) all Accrued Benefits, (ii) a Pro-Rata Bonus, (iii) the COBRA Coverage Benefits, and (iv) the Post-Termination Benefits.

  • Executive further understands that he shall relinquish any right he has to Post-Termination Benefits described in the Employment Agreement if he exercises his right to revoke this Supplemental Release.

  • Executive acknowledges: (a) that he has been advised to consult with an attorney regarding this Supplemental Release; (b) that he has, in fact, consulted with an attorney regarding this Supplemental Release; (c) that he has carefully read and understands all of the provisions of this Supplemental Release; and (d) that he is knowingly and voluntarily executing this Supplemental Release in consideration of the Post-Termination Benefits provided under the Employment Agreement and the Separation Agreement.

  • Notwithstanding anything contained in this Agreement, the Executive understands that certain Post-Termination Benefits may be taxable.

  • The Executive agrees that neither Superior Bank nor the Parent will be liable to Executive for any tax assessed to Executive in connection with the Post-Termination Benefits.

  • Executive acknowledges and agrees that the Post-Termination Benefits provided for in Section 2(b) shall be subject to Executive executing the general release of claims attached hereto as Annex A (the “Supplemental Release”) within twenty-one (21) days following the Separation Date pursuant to the terms hereof, and the applicable seven (7) calendar day revocation period expiring without revocation (the “Supplemental Release Condition”).

  • Notwithstanding the foregoing, in the event Executive has a Termination without Cause or Termination for Good Reason in connection with or following a Change in Control, Executive shall be entitled to the Post-Termination Benefits set forth in Section 6(b) below.

  • If the Companies, or either of them, terminate the Executive’s employment during the Employment Period because of the Executive’s Disability, the Company shall pay or provide to the Executive (i) all Accrued Benefits, (ii) a Pro-Rata Bonus, (iii) the COBRA Coverage Benefits and (iv) the Post-Termination Benefits.


More Definitions of Post-Termination Benefits

Post-Termination Benefits means, at the Parent's election, either (i) payment by the Companies to the Executive of an amount equal to the cost of any welfare benefits and retirement plan contributions the Executive would otherwise have been eligible to receive in the twelve (12) months following the Executive's Date of Termination, or (ii) the provision, for twelve (12) months following the Executive's Date of Termination, in kind by the Company to the Executive of the welfare benefits or retirement plan contributions described in clause (i) of this definition, provided that, in the case of provision of benefits under clause (ii), the Parent has determined in its reasonable and sole discretion that it would be permissible to do so under the terms of any applicable plan and applicable law. For the sake of clarity, COBRA Coverage Benefits shall be as provided in Section 24(d) above.
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