Payment of Benefits on Termination of Employment Sample Clauses

Payment of Benefits on Termination of Employment. If Executive's employment with the Company is terminated, Executive shall be entitled to maintain his employee benefits in accordance with his maximum COBRA rights.
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Payment of Benefits on Termination of Employment. (a) In the event termination of the employment qualifies as a Good Leaver, subject to applicable Law and obtaining the requisite approvals (if any) the Employee shall be entitled to a cash payment equivalent to the Employee’s last drawn fixed pay for 12 (twelve) months, payable within 30 (thirty) days of the cessation of employment (“Severance Amount”) as a consideration for complying with the obligations under Clause 7 (Non-Compete and Non-Solicitation) above;
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Payment of Benefits on Termination of Employment. 7.1 Transfer of a Member from one Plan Sponsor to another Plan Sponsor or to an Affiliate shall not be deemed for any purpose under the Plan to be a termination of employment of the Member.
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Payment of Benefits on Termination of Employment. 9.1 Transfer of a Member from one Plan Sponsor to another Plan Sponsor or to an Affiliate shall not be deemed for any purpose under the Plan to be a termination of employment of the Member. A Member shall be deemed to have terminated employment upon his Severance Date. 9.2 In the event of the termination of employment of a Member for reasons other than death or attainment of a Retirement Date, the Member's Accrued Benefit shall be determined as of the Valuation Date coinciding with or immediately preceding the date the Accrued Benefit is valued for imminent payout purposes pursuant to normal administrative procedures, and shall be increased by any amounts allocated to a Member's Account after that Valuation Date and reduced by any distributions or withdrawals made from the Member's Account after that Valuation Date and the amount necessary to satisfy, as of the Member's termination of employment, the unpaid principal, accrued interest, and penalties on any loan made to the Member. 9.3 That portion of a Member's Accrued Benefit in which he is vested shall be: (a) his Tax Saver Account, Basic Contribution Account, Rollover Account and Old Thrift Plus Plan Account which shall be fully vested and nonforfeitable at all times; and (b) that portion of the value of his Matching Account computed according to the following vesting schedule based upon such Member's Years of Service, as defined in Section 1.29(b), as of his Severance Date: FULL YEARS PERCENTAGE OF SERVICE VESTED ----------- ---------- Less than 3 0% 3 33 1/3% 4 66 2/3% 5 100%
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Payment of Benefits on Termination of Employment. 8.1 In the event of a Termination of Employment of a Participant, the Participant's vested Accrued Benefit shall be determined as of' the Valuation Date coinciding with or immediately preceding the date the Participant's Accrued Benefit is valued for imminent payout purposes pursuant to normal administrative procedures, increased by any contributions or Rollover Amounts allocated to the Account of the Participant after that Valuation Date and reduced by any distributions therefrom.
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Payment of Benefits on Termination of Employment. 6.1 (a) In the event of a Termination of Employment, a Member whose vested Account exceeds $3,500 may request at any time after the Member's Termination of Employment payment of his vested Account which shall be made in cash or in kind at the Member's election, in a lump sum payment. Payment will be made as soon as practicable after the last day of the Plan Year in which the Member requests a distribution in writing. No distribution of the Member's Account will be made without a Member's request prior to Normal Retirement Age.
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Payment of Benefits on Termination of Employment 
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Related to Payment of Benefits on Termination of Employment

  • Compensation and Benefits Upon Termination of Employment (a) If the Company shall terminate the Executive's employment after a Change in Control other than pursuant to Section 3(b), 3(c) or 3(d) and Section 3(f), or if the Executive shall terminate his employment for Good Reason, then the Company shall pay to the Executive, as severance compensation and in consideration of the Executive's adherence to the terms of Section 5 hereof, the following:

  • Severance Compensation upon Termination of Employment If the Company shall terminate the Executive’s employment other than pursuant to Section 5(a), (b) or (c) or if the Executive shall terminate his employment for Good Reason, then the Company shall pay to the Executive as severance pay in a lump sum, in cash, on the fifth day following the Date of Termination, an amount equal to three (3) times the average of the aggregate annual compensation paid to the Executive during the three (3) fiscal years of the Company immediately preceding the Change of Control by the Company subject to United States income taxes (or, such fewer number of fiscal years if the Executive has not been employed by the Company during each of the preceding three (3) fiscal years).

  • Benefits Upon Termination of Employment If the Executive is entitled to benefits pursuant to this Section 2, the Company agrees to pay or provide to the Executive as severance payment, the following:

  • Payments Upon Termination of Employment (a) If Executive's employment with the Company is terminated by reason of:

  • Compensation Upon Termination of Employment If the Executive’s employment hereunder is terminated, in accordance with the provisions of Article III hereof, and except for any other rights or benefits specifically provided for herein to be effective following the Executive’s period of employment, the Company will provide compensation and benefits to the Executive only as follows:

  • Compensation Following Termination of Employment In the event that Executive's employment hereunder is terminated, Executive shall be entitled to the following compensation and benefits upon such termination:

  • Termination of Employment Severance Your immediate supervisor or the Company's Board of Directors may terminate your employment, with or without cause, at any time by giving you written notice of your termination, such termination of employment to be effective on the date specified in the notice. You also may terminate your employment with the Company at any time. The effective date of termination (the "Effective Date") shall be the last day of your employment with the Company, as specified in a notice by you, or if you are terminated by the Company, the date that is specified by the Company in its notice to you. The following subsections set forth your rights to severance in the event of the termination of your employment in certain circumstances by either the Company or you. Section 5 also sets forth certain restrictions on your activities if your employment with the Company is terminated, whether by the Company or you. That section shall survive any termination of this Agreement or your employment with the Company.

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