Termination Benefits definition
Termination Benefits will mean and include the following:
Termination Benefits means the benefits described in Section 4.1(b).
Termination Benefits payable in accordance with paragraphs 4 and 5 are the following payments and benefits:
Examples of Termination Benefits in a sentence
The allocation of the reduction required hereby among the Termination Benefits provided by Section 5 shall be determined by Executive.
The allocation of the reduction required hereby among the Termination Benefits shall be determined by the Executive.
The allocation of the reduction required hereby among the Termination Benefits provided by the preceding paragraphs of this Section 3 shall be determined by Executive.
The allocation of the reduction required hereby among the Termination Benefits provided by this Section 3 shall be determined by Executive.
Termination Benefits Termination benefits are amounts payable as a result of a decision by the Council to terminate an officer’s employment before the normal retirement date or an officer’s decision to accept voluntary redundancy.
More Definitions of Termination Benefits
Termination Benefits means (i) a lump sum cash payment equal to 100% of the sum of (A) Executive’s annual base salary at the rate in effect under paragraph 3.1 on the date of termination of Executive’s employment and (B) the highest annual incentive compensation payment paid to Executive by Company (pursuant to paragraph 3.2 or otherwise) during the three years prior to the date of termination of Executive’s employment, and (ii) all of the outstanding stock options, restricted stock or unit awards and other equity based awards granted by Company to Executive shall become fully vested and immediately exercisable in full on the date of termination of Executive’s employment; provided, however, that if a Change in Control occurs prior to the earlier of the consummation of an Initial Public Offering and June 30, 2007 and the Executive’s employment is terminated prior to the consummation of such Change in Control, then the percentage used in clause (i) of this definition shall be zero.
Termination Benefits means (i) a lump sum cash payment equal to the sum of: (A) one year of Executive’s annual base salary at the rate in effect under paragraph 3.1 on the date of termination of Executive’s employment, (B) the higher of (1) Executive’s highest annual bonus paid during the three most recent fiscal years or (2) Executive’s Target Bonus (as provided in Company’s annual cash incentive plan) for the fiscal year in which Executive’s date of termination occurs, and (C) any bonus that Executive has earned and accrued as of the date of termination of Executive’s employment which relates to periods that have ended on or before such date and which have not yet been paid to Executive by Company; and (ii) Health Coverage.
Termination Benefits means the aggregate of all of the following:
Termination Benefits means (i) a lump sum cash payment equal to 3 times Key Employee’s “Base Amount”, less $1.00.
Termination Benefits means the benefit set forth in Section 5.3.
Termination Benefits means:
(I) an amount equal to the product of (A) Annual Compensation times (B) 1.1823;
(II) immediate vesting and exercisability of all of the Executive's options to purchase securities of the Company outstanding at the time of the Executive's termination without Cause or Constructive Termination Without Cause, notwithstanding any contrary provisions of such options or any plans pursuant to which they are granted; and
(III) at Executive's election, and subject to Executive's payment on a monthly basis of the applicable premiums set forth on Schedule A, continued medical, dental and life insurance coverage in If the excise tax imposed by Section 4999 of the Internal Revenue Code of 1986, as amended (the "Code"), would otherwise be imposed with respect to any payments in the nature of compensation made pursuant to this Agreement or otherwise, and if a reduction of such payments would yield a greater after-tax benefit to the Executive, then such payments shall be reduced in the manner and order specified by the Executive in order that the Executive receive a greater after-tax benefit by reason of elimination of an amount of such payment sufficient to avoid the excise tax. A final determination as to the amount of the Termination Benefit payment set forth in subsection (I) above, the value of the other Termination Benefits and the excise tax under Section 4999 of the Code, as well as any reduction thereof shall be contingent upon the express approval of the Executive, which approval shall not be unreasonably withheld. Executive's approval shall not be treated as unreasonably withheld if counsel of Executive's selection advises that the proposed reduction of such payments would not clearly result in an increase in the after-tax benefit to Executive.