Severance. In the event that the Company terminates your employment without Cause, as defined below, and provided you enter into, do not revoke and comply with the terms of a usual and customary separation agreement in a form provided by the Company (the Release), the Company will provide you with the following Termination Benefits: # an amount equal to # the sum of three (3) months of your base salary described in Section 3 or # in the event that the Company terminates your employment without Cause following the six-month anniversary of the Start Date, the sum of six (6) months of your base salary described in Section 3, in each case subject to payroll withholding and deduction (the Salary Continuation Payments): and # if elected, continuation of group health plan benefits to the extent authorized by and consistent with 29 U.S.C. § 1161 et seq. (commonly known as COBRA), with the cost of the regular premium for such benefits shared in the same relative proportion by the Company and you as in effect on your last day of employment (the Date of Termination) until the earlier of: (i) (A) three (3) months from the Date of Termination or # in the event that the Company terminates your employment without Cause following the six-month anniversary of the Start Date, six (6) months from the Date of Termination, and # the date you and your dependents become eligible for health benefits through another employer or otherwise become ineligible for COBRA. The Salary Continuation Payments shall commence upon the Companys first regular payroll date after the Release has become fully effective. In the event you miss a regular payroll period between the Date of Termination and first Salary Continuation Payment date, the first Salary Continuation Payment shall include a catch up payment. Solely for purposes of [Section 409A] of the internal Revenue Code of 1986, as amended (the Code), each Salary John F. Tomayko 502 Raspberry LN
Severance. The assignment, transfer or continuation of the employment of employees as contemplated by this Agreement or otherwise effected in connection with the Separation or the Distribution shall not be deemed a severance of employment of any employee for any purpose, including for purposes of any plan, policy, practice or arrangement of any member of the Group or any member of the Group.
Severance. During the Extension Period, the Executive shall continue to be a participant in the Company’s Amended and Restated Change in Control / Severance Plan (the “CICSP”) on the terms and conditions set forth in [Section 4(a)(iv)] of the Employment Agreement. The termination of the Executive’s employment at the end of the Extension Period would constitute a “Qualifying Termination” under the CICSP, which will entitle the Executive to receive # a severance payment equal to the sum of # the Executive’s then-current annual salary and # the full amount of the Executive’s target annual bonus under the Amended and Restated Annual Executive Incentive Compensation Plan and # the other benefits specified by [Section 4.1] of the CICSP.
Severance. In the event your employment with the Company should be terminated # in the event of a "change-in-control" of the Company or # without cause, both as solely defined by the Chief Executive Officer, the Company agrees that you will be paid severance compensation, in lump sum, in an amount equal to: # one year of your then current base salary plus # the pro-rated amount of any bonus which would have been earned for the performance year in which the termination occurs, provided all applicable performance conditions are met, all subject to withholding for all applicable taxes, payable as soon as is practicable following the termination of employment (subject to required waiting periods under Section 409A of the Internal Revenue Code or any other applicable statute or regulation). This severance compensation shall be in lieu of any other severance payments you may be entitled to as a result of such termination of employment. Your receipt of any such severance payment is subject to execution by you and Crawford of an agreement achieving mutually acceptable terms on matters pertaining to:
Severance. If the employment of the Employee is terminated by the Company without cause before the end of the Term of this Agreement, the Employee shall be paid, as a severance payment at the time of such termination, the amount equal to the greater of # 50% of the annual base salary in effect at the time of termination and # the base salary payable through the end of the Term; except as limited by Sections 4I and 66] and subject to the Employee’s execution and non-revocation of a release in the form attached hereto as [Exhibit B] in accordance with its terms.
Cash. By cash, cashiers check or wire transfer or, at the discretion of the Administrator expressly for the Grantee and where permitted by law as follows:
Cash. Directors Fees deferred by Participants in cash shall be credited to a Cash Deferred Account, on the first business day coincident with or immediately following the Issue Date for such Director Fees, until a Distribution Event described in Section 10 occurs. Cash Deferred Accounts shall not be credited with any earnings or income by the Company.
Severance Stipend. The Severance Stipend is paid in a cash lump sum.
Severance Payment. In exchange for the terms of a separation agreement in substantially the form attached hereto as Exhibit A (Separation Agreement) to be entered into at the end of the Transition Period, Executive shall receive, unless Executive has been terminated for Cause, a severance payment in the amount of $648,000. This total severance amount shall be paid to Executive in installments of $75,000 for each of the first five months and $21,000 for each of the next thirteen months pursuant to the Companys regular payroll dates and procedures during the period between the effective date of the Separation Agreement and January 31, 2020. Said payments will commence no later than 60 days after the Separation Date provided that Executive has signed and not rescinded the Separation Agreement.
Upon termination of employment, prior to the expiration of the Employment Period, for any reason other than for cause, as defined below, and subject to the provisions of Section 11(c)(3), the Executive shall be entitled to: # Six # months of his annual Base Salary be paid according to Section 4; # any and all reasonable expenses paid or incurred by the Executive in connection with and related to the performance of his duties and responsibilities for the Company during the period ending on the termination date to be paid according to Section 8; # any accrued but unused vacation time through the termination date in accordance with Company policy; and # all Share Awards earned and vested prior to termination. With respect to any Share Awards held by the Executive as of his death that are not vested and exercisable as of such date, the Company shall fully accelerate the vesting and exercisability of such Share Awards, so that all such Share Awards shall be fully vested and exercisable as of the Executive’s death, such options (as well as any Share Awards that previously became vested and exercisable) to remain exercisable, notwithstanding anything in any other agreement governing such options, until the earlier of # a period of one (1) year after the Executive’s death or # the original term of the option, if such Share Awards is an option.
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