Executive Severance Policy Sample Clauses

Executive Severance Policy. (i) Effective no later than the Distribution Date, DevCo and SpinCo shall take all steps necessary or appropriate to cause a member of the SpinCo Group to have in effect an executive severance policy (the “SpinCo Executive Severance Policy”) with terms that are substantially similar to those provided to SpinCo Employees who were eligible under the DevCo Executive Severance Policy prior to the Distribution Date, (ii) each SpinCo Employee who is eligible under the DevCo Executive Severance Policy shall automatically cease to be eligible effective upon the date on which the SpinCo Executive Severance Policy becomes effective and (iii) effective as of date the SpinCo Executive Severance Policy becomes effective, SpinCo shall fully pay, perform and discharge, all obligations thereunder.
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Executive Severance Policy. If while this Agreement is in effect your employment is terminated by the Company without Cause or you terminate your employment for Good Reason, then you shall be eligible to receive both the payment pursuant to this Agreement and payment under the Company's Executive Severance Policy.
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Executive Severance Policy. You will be entitled to the benefits and subject to the terms of the Company’s executive severance policy which provides severance benefits to executives whose employment is involuntarily terminated by American Water for reasons other than cause. Under the policy, you will receive, among other benefits, company-paid COBRA, salary continuation benefits in the form of 18 months of your base salary and a prorated annual incentive plan award.
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Executive Severance Policy. The Executive shall be a participant in the Company’s Executive Severance Policy and shall be entitled to the rights and payments provided therein.
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Executive Severance Policy. If while this Agreement is in effect your employment is terminated by the Company without Cause or you terminate your employment for Good Reason, then you shall receive either the (a) payment pursuant to this Agreement or (b) payment of salary continuation under the Company's Executive Severance Policy, as then in effect, whichever provides for the payment of the higher amount, but you shall not receive payment under both this Agreement and the salary continuation under the Executive Severance Policy. In the event that you receive payment under this Agreement and not the Executive Severance Policy, you nevertheless shall be eligible to receive the medical, dental, vision and orthodontia benefits, the term life insurance and outplacement services described in the Executive Severance Policy for a period of up to two years pursuant to the terms of the Executive Severance Policy.
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Executive Severance Policy. If the Company terminates your employment other than for cause, and in lieu of the terms and conditions of the Company’s Executive Severance Policy relating to base salary continuation, you will be entitled to receive the following:
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Executive Severance Policy. (a) If the Company terminates your employment other than for Cause, or if you terminate employment for Good Reason, as such terms are defined below, and notwithstanding and in lieu of the terms and conditions of the Company’s Executive Severance Policy relating March 26, 2012 to base salary continuation, you will be entitled to receive severance equal to eighteen (18) months’ base pay then in effect, payable in substantially equal installments over the eighteen (18) month period following your separation from service, as follows, except to the extent delay is required as described under Section 12 below: the first payment, which will cover the first sixty (60) days after your separation from service, will be paid to you in a lump sum cash payment on the Company’s first payroll date that occurs after the sixtieth (60th) day following your termination date, and the remaining months of severance will be paid to you in accordance with the Company’s normal payroll practices following such sixtieth (60th) day for the remainder of the applicable eighteen (18) month period.
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Executive Severance Policy. The Executive has been terminated from employment with the Company under circumstances that entitle the Executive to certain rights and benefits under the Arrow Electronics, Inc. Executive Severance Policy (the “Severance Policy”), subject to the terms of this Release. The rights and benefits of the Executive under the Severance Policy are in consideration of and subject to the Executive’s execution, non-revocation, and compliance with the terms of this Release.
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Executive Severance Policy. If the Company terminates your employment other than for cause, the termination of your employment shall not be effective unless and until the Company provides you with at least six (6) months prior written notice of its decision to terminate your employment. In the event your employment is terminated per the above terms, you will be covered under the American Water Executive Severance Policy, which provides, among other things, a severance payment equal to eighteen (18) months’ pay. The Company agrees that the Executive Severance Policy that is currently in effect will continue to apply to you so long as the Company is owned by RWE or through December 31, 2007, whichever is later.
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Related to Executive Severance Policy

  • Exclusive Severance Benefits The Severance Benefits payable under Section 6.4(a) or the Change of Control Benefits payable under Section 6.4(b), if they become applicable under the terms of this Agreement, will be in lieu of any other severance or similar benefits that would otherwise be payable under any other agreement, plan, program or policy of the Company.

  • Executive Benefits The Executive shall be entitled to participate in all benefit programs of the Company currently existing or hereafter made available to executives and/or other salaried employees, including, but not limited to, pension and other retirement plans, group life insurance, hospitalization, surgical and major medical coverage, sick leave, disability and salary continuation, vacation and holidays, cellular telephone and all related costs and expenses, long-term disability, and other fringe benefits.

  • Termination of Employment and Severance Benefits The Executive’s employment hereunder shall terminate under the following circumstances:

  • Severance Pay and Benefits Upon Termination by the Company without Cause or by the Executive for

  • Termination of Employment with Severance Benefits (a) The Executive shall be entitled to the severance benefits described in section 9(b) in the event that:

  • Severance and Change in Control Benefits The Committee has designated you a participant in the Company’s Executive Change in Control and Severance Plan (the “Policy”), attached as Exhibit A to this Agreement. As a participant in the Policy, you will be eligible to receive severance payments and benefits upon certain qualifying terminations of your Employment as set forth in Exhibit B to this Agreement (the “Participation Terms”), subject to the terms and conditions of the Policy. By signing this Agreement, you agree that this Agreement, the Policy, and the Participation Terms constitute the entire agreement between you and the Company regarding the subject matter of this paragraph and supersede in their entirety all prior representations, understandings, undertakings or agreements (whether oral or written and whether expressed or implied), and specifically supersede any severance and/or change of control provisions of any offer letter, employment agreement, or equity award agreement entered into between you and the Company. For the avoidance of doubt, all other terms of any equity awards granted to you by the Company will remain in effect.

  • Severance Plans Trident shall cause Fountain to establish the Fountain Severance Plans, each effective as of the Fountain Distribution Date and each in substantially the same form(s) as the Trident Severance Plans as provided by Trident in the online data room in Folders 8.2.2.3, 8.2.2.4 and 8.2.2.5 as of the date of this Agreement (provided that Trident will, prior to establishing such Fountain Severance Plans, amend Section 3.02(b)(x) of the Trident Severance Plan in Folder 8.2.2.5 to be identical to Section 3.02(b)(x) of the Trident Severance Plan in Folder 8.2.2.3 and such amended plan shall serve as the form for the corresponding Fountain Severance Plan) and, correspondingly, Fountain Employees and Former Fountain Employees who are currently eligible to receive or are receiving severance payments shall cease participating in the Trident Severance Plans on the Fountain Distribution Date. After the Fountain Distribution Date: (i) Fountain shall be solely responsible for (x) the payment of all Liabilities under the Trident Severance Plans (as amended pursuant to the proviso above) or Fountain Severance Plans relating to Fountain Employees and Former Fountain Employees, (y) the management and administration of the Fountain Severance Plans and (z) the payment of all employer-related costs in establishing and maintaining the Fountain Severance Plans, and (ii) Trident shall retain sole responsibility for (w) all Liabilities under the Trident Severance Plans or Fountain Severance Plans relating to Trident Employees and Former Trident Employees, (x) all Liabilities for severance or termination pay or benefits under individual agreements entered into with any Trident Employee or Former Trident Employee prior to the Fountain Distribution Date, (y) the management and administration of the Trident Severance Plans and (z) the payment of all employer-related costs in maintaining the Trident Severance Plans. In no event shall an employee or former employee receive a duplication of severance benefits. Except as provided below, Fountain shall be solely responsible for the adjudication of any claims filed by a Fountain Employee or Former Fountain Employee before, on or after the Fountain Distribution Date under a Trident Severance Plan. Notwithstanding the previous sentence, Trident shall be solely responsible for the adjudication of any claim filed by a Fountain Employee or Former Fountain Employee under a Trident Severance Plan before the Fountain Distribution Date that (A) has not been finally adjudicated by Trident on the day immediately preceding the Fountain Distribution Date; and (B) under the applicable claims procedure, Trident’s plan administrator or other authorized person or committee will have a less than sixty (60) day period after the Fountain Distribution Date to respond to such claim. Notwithstanding the previous sentence, if Trident’s response to such claim does not finally adjudicate the claim, Trident shall immediately upon sending its response to the claimant transfer administration of such claim to Fountain for final adjudication.

  • Severance Pay In the event that your employment is terminated by the Company, except for “Cause” as defined below, you will be eligible to receive the following:

  • COBRA Severance As an additional Severance Benefit, the Company will continue to pay the cost of your health care coverage in effect at the time of your Separation from Service for a maximum of twelve (12) months, either under the Company’s regular health plan (if permitted), or by paying your COBRA premiums (the “COBRA Severance”). The Company’s obligation to pay the COBRA Severance on your behalf will cease if you obtain health care coverage from another source (e.g., a new employer or spouse’s benefit plan), unless otherwise prohibited by applicable law. You must notify the Company within two (2) weeks if you obtain coverage from a new source. This payment of COBRA Severance by the Company would not expand or extend the maximum period of COBRA coverage to which you would otherwise be entitled under applicable law. Notwithstanding the above, if the Company determines in its sole discretion that it cannot provide the foregoing COBRA Severance without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide to you a taxable monthly payment in an amount equal to the monthly COBRA premium that you would be required to pay to continue your group health coverage in effect on the date of your termination (which amount shall be based on the premium for the first month of COBRA coverage), which payments shall be made on the last day of each month regardless of whether you elect COBRA continuation coverage and shall end on the earlier of (x) the date upon which you obtain other coverage or (y) the last day of the twelfth (12th) calendar month following your Separation from Service date.

  • Release of Employment Claims Executive agrees, as a condition to receipt of the termination payments and benefits provided for in this Section 4, that he/she will execute a release agreement, a form of which is attached hereto as Exhibit A, releasing any and all claims arising out of Executive’s employment.

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