Termination and Severance Benefits. The Release does not affect your vested rights and eligibility for benefits under the Company 40l(k) Plan, or any other employee benefit plan covered by ERISA (other than a severance plan). Eligibility for benefits under these plans is determined by the applicable plan documents. The Release does not affect your right to reimbursement of expenses incurred but not reimbursed prior to the date you sign the Release, subject to the Company’s expense reimbursement policies. In particular, this Release shall not affect your right to the payment provided in Sections 5, 6 and 7 of the Employment Agreement.
Termination and Severance Benefits. Either you or the Company may at any time terminate your employment with the Company and the Subsidiary after giving two weeks’ notice to the other party, provided that the parties discharge their respective obligations as set forth in this Section 8 and elsewhere in this Agreement.
Termination and Severance Benefits. The Release does not affect your vested rights and eligibility for benefits under the Company 401(k) Plan, or any other employee benefit plan covered by ERISA (other than a severance plan). Eligibility for benefits under these plans is determined by the applicable plan documents. The Release does not affect your right to reimbursement of expenses incurred but not reimbursed prior to the date you sign the Release, subject to the Company’s expense reimbursement policies. In addition, this Release does not affect your right to post-retirement medical coverage as applicable. In particular, this Agreement and the Release shall not affect your right to the payment provided in Section 4, 5 or 6 of the Agreement, as the case may be, and Section 7 thereof, or the Executive Release as set forth below.
Termination and Severance Benefits. (a) Executive's employment under this Employment Agreement shall immediately terminate and all rights, benefits and obligations hereunder shall cease in the event of Executive's death except for benefits accrued but unpaid for any period prior to his death, including, but not limited to, any Performance Bonus or other benefit provided for under Paragraph 4 of this Agreement, and except as provided in Paragraphs 4(d) and 7(c).
Termination and Severance Benefits. (a) If NMK shall die during the term of employment under this Agreement, the compensation provided in Paragraph 4 of this Agreement shall be paid in such installments as would be required under Paragraph 4 of this Agreement to the person designated from time to time in writing by NMK and, if not so designated, to NMK's estate, until the fifth anniversary of the Effective Time. The person designated by NMK and, if not so designated, NMK's estate, shall also receive any accrued but unpaid bonus, award or other benefit and, to the extent not inconsistent with any plan under which shares of stock of the Company or options therefor have been granted to NMK, all options and restricted stock awards shall vest and be immediately exercisable and no longer subject to restrictions.
Termination and Severance Benefits. Death. The death of Executive shall automatically terminate the Company's obligations under this Agreement; provided however, that: (i) the Company shall pay to Executive's estate Executive's Base Compensation and accrued benefits through the date of termination; and (ii) any unvested Plan Options granted under this Agreement will upon such termination become fully vested and immediately exercisable for a period of one (1) year and any post-retirement benefits shall be paid to Executive's estate
Termination and Severance Benefits. (a) NaviCyte and you each retain the right to terminate this Agreement with or without Cause at any time. In the event of a termination without Cause, you shall be entitled to the following severance benefits:
Termination and Severance Benefits. (a) Upon termination without Cause at any time during the Term, Employee shall receive, as a consulting fee: (i)an amount equal to two times (2x) Employee's then annual base salary plus (ii) an amount equal to any unpaid Retention Payments referred to in Section 5(B)(ii) and (iii), as applicable, payable over time as the payments would otherwise become due.
Termination and Severance Benefits a. In the event Executive’s employment terminates or is terminated (i) by Executive for any reason except the Company’s breach of this Agreement, or (ii) by Company for “cause” (as hereinafter defined), Executive will receive his Base Salary and accrued benefits through the last day of employment, but Executive will have no further entitlement to additional compensation, including bonuses, severance pay or any other Company-paid benefits or perquisites of employment.
Termination and Severance Benefits. The employer must always retain the right to terminate the employment relation- ship as necessary. If the employment agreement does not include a defined time period, the agreement should be structured such that the employer and employee each have the option to terminate the employment relationship with appropriate notice. If the employment agreement provides a defined time period, the em- ployer must have in the agreement “escape clauses” to enable the employer to terminate the employment relationship should the need arise. The termination and severance provisions of the employment agreement are of- ten vigorously negotiated between counsel for the employer and counsel for the employee.
