Severance Termination Date definition

Severance Termination Date means the earlier of the date which is one year and six months after the Termination Date or, so long as a Sale of the Company has not occurred prior to the Termination Date, December 31, 2007; provided that in no event will the Severance Termination Date be earlier than the first anniversary of the Termination Date. The Termination Bonus Amount shall be payable in equal monthly increments over the period from the date of determination thereof through the Severance Termination Date, and shall be paid contemporaneously with payment of Base Salary during such period. After payment of the severance amounts described in this Section 7(d), Publishing shall have no obligation to make any further severance or other payment or provide any other benefit to or on behalf of Executive. Notwithstanding the foregoing, in the event that Executive shall breach any of Executive’s obligations under any of Sections 8, 9 and 10 of this Agreement (except any breach which Executive carries the burden of proving is solely of a technical nature, is immaterial and was inadvertent), then, in addition to any other rights that Publishing or the Company may have under this Agreement or otherwise, Publishing shall be relieved from and shall have no further obligation to pay Executive any amounts to which Executive would otherwise be entitled pursuant to this Section 7.
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Severance Termination Date means the earlier to occur of: (a) Employee’s death, and (b) the later to occur of: (i) one year from the date of termination of employment and (ii) December 31, 2008.
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Examples of Severance Termination Date in a sentence

  • Grainger will continue to provide, through deductions from the Officer’s Separation Payments at the same rate paid by employees, group health, dental and vision benefits and life insurance as currently maintained for the Officer, or as subsequently modified by Grainger, through the Severance Termination Date.

  • After the Officer’s benefit coverage ceases on the Severance Termination Date, the Officer may elect to continue group health and dental benefits under COBRA.

  • Subsequent to the Severance Termination Date, the Officer shall be eligible to receive benefit payments that the Officer had previously elected to defer under the Executive Deferred Compensation Plan, in accordance with the terms of that Plan.

  • The Officer shall be eligible to buy products that Grainger sells to its employees pursuant to the provisions of the Employee Purchase Program, with the benefit of the discounts offered by Grainger to its employees under such Program, through the Severance Termination Date.

  • With respect to the provisions of Section 4.5 and Section 4.6 of the Employment Agreement, the parties agree that such provisions shall terminate on the Severance Termination Date, unless, in the case of Section 4.5, such provisions are earlier terminated in accordance therewith.

  • Thereafter, all vested options must be exercised on or before the expiration date of each option or within three months of the Severance Termination Date, whichever shall occur first.

  • The Officer specifically acknowledges that, except as set forth in Section 16, all of Grainger’s obligations under the Change in Control Employment Agreement dated as of March 25, 1999 (the “Change in Control Agreement”) shall become null and void as of the Severance Termination Date.

  • The Officer agrees that he will not apply for unemployment benefits while he continues to receive Separation Payments through the Severance Termination Date or at any time in the future that would otherwise be chargeable to Grainger’s unemployment insurance account.

  • The parties agree that the Employment Agreement shall terminate and have no further force and effect as of the Effective Date, except as follows: (a) to the extent such Sections are referenced in Section 2 hereof, Sections 2.3, 2.4 and 3.6 of the Employment Agreement shall remain in effect until the Severance Termination Date; and (b) Sections 4, 5.1 and 5.4 of the Employment Agreement will remain in effect in accordance with the terms thereof and Section 4 of this Agreement.

  • Regardless of whether you sign this Agreement, you will receive, on the applicable termination date, a check representing the payment to you of your accrued and unpaid salary through the Severance Termination Date or the Non-Severance Termination Date, as the case may be, as well as your accrued but untaken vacation.

Related to Severance Termination Date

  • Employment Termination Date means, with respect to a Participant, the first day upon which the Participant no longer has an employment or service relationship with the Company or any Related Company.

  • Agreement Termination Date is defined in Section 7.4.

  • Service Termination Date means the last Day in a month upon which Service shall terminate, as set forth in a Schedule of Service and subject to any renewal thereof.

  • Stated Termination Date means, with respect to the Revolving Credit Facility, March 4, 2027 and, with respect to any Extended Revolving Credit Facility, the maturity date set forth in the Extension Agreement related thereto.

  • Severance Term means the twenty-four (24) month period following Executive’s termination by the Company without Cause (other than by reason of death or Disability) or by Executive for Good Reason.

  • Outside Termination Date shall have the meaning set forth in Section 8.01(f).

  • Effective Termination Date has the meaning set forth in Section 10(b) hereof.

  • Severance Date means the date on which an Executive incurs a Severance, which shall be the date of termination as determined under Section 5.2.

  • Initial Termination Date has the meaning set forth in Section 8.2(a).

  • Forbearance Termination Date means the earlier to occur of (i) the Termination Date and (ii) a Termination Event.

  • Premium Termination Date With respect to the Series A Certificates, the scheduled maturity date of the Series A Certificates, with respect to the Series B Certificates, the scheduled maturity date of the Series B Certificates and with respect to the Series C Certificates, the scheduled maturity date of the Series C Certificates.

  • Mandatory Termination Date means the "Termination Date" set forth under "Investment Summary--Essential Information" in the Prospectus for the Trust.

  • Extended Termination Date has the meaning specified in Section 2.16(c).

  • Employment Termination means the effective date of: (i) Executive’s voluntary termination of employment with the Company with Good Reason, or (ii) the termination of Executive’s employment by the Company without Good Cause.

  • Anticipated Termination Date Any Distribution Date on which it is anticipated that the Trust Fund will be terminated pursuant to Section 9.01(c) of this Agreement.

  • Escrow Termination Date has the meaning ascribed to such term in Section 9.12.

  • Post-Termination Period means a period of 12 months (subject to extension as set forth in Section 8(f)) following the effective date of the termination of Executive’s employment.

  • Lease Termination Date means the last day of the Lease Term.

  • Covered Termination means the termination of Executive’s employment by the Company without Cause or by Executive for Good Reason, and shall not include a termination due to Executive’s death or disability.

  • Event Termination Date See Section 2(e) hereof.

  • Final Termination Date means the last date of the final year in which the Applicant is required to Maintain Viable Presence and as further identified in Section 2.3.E of this Agreement.

  • Purchase Termination Date means the date upon which the Transferor shall cease, for any reason whatsoever, to make purchases of Receivables from the Seller under the Receivables Purchase Agreement or the Receivables Purchase Agreement shall terminate for any reason whatsoever.

  • Standstill Termination Date means the earlier of (i) the first anniversary of the Board Rights Termination Date and (ii) the later of (A) the third anniversary of this Agreement or (B) the first anniversary of the date on which both the Purchaser Designated Director has resigned from the Board and the Purchaser has permanently waived and renounced the Purchaser’s Board observation rights and Board designation rights in Section 1 and Section 2 of this Agreement.

  • Scheduled Termination Date means the date that is 364 days from (and including) the Effective Date, or any succeeding date to which the term of this Agreement is extended pursuant to Section 2.03.

  • Plan Termination Date means the date that is ten (10) years after the Effective Date, unless the Plan is earlier terminated by the Board pursuant to Section 15 hereof.

  • Date of Termination means the date of receipt of the Notice of Termination or any later date specified therein, as the case may be; provided, however, that (i) if the Executive's employment is terminated by the Company other than for Cause or Disability, the Date of Termination shall be the date on which the Company notifies the Executive of such termination and (ii) if the Executive's employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Executive or the Disability Effective Date, as the case may be.