Unless required by applicable law, rule, regulation, legal process or order or to enforce this Agreement, or to the extent has previously publicly disclosed the Severance Benefits Agreement, this Release, or their underlying terms or conditions, Employee shall not disclose the existence of the Severance and Release Agreements or their underlying terms or conditions to any third party, including without limitation, any former, present or future employee of , other than to members of Your immediate family who have a need to know such matters or to Your tax or legal advisors who have a need to know such matters. If You do disclose this Release, the Severance Benefits Agreement or any of their respective terms or conditions to any of Your immediate family or tax or legal advisors, then You will inform them that they also must keep the existence of this Release, the Severance Benefits Agreement and their respective terms and conditions confidential. may disclose the existence or terms and conditions of this Release, the Severance Benefits Agreement and their respective terms and conditions and may file this Release and the Severance Benefits Agreement as exhibits to its public filings.
The purpose of the Brinker International, Inc. Executive Severance Benefits Plan (“Plan”) is to provide severance pay benefits to eligible executive employees whose employment with Brinker International, Inc. (the “Company”) is terminated involuntarily under the conditions described below.
Severance Payments and Benefits; Salary and Benefits. The Company agrees to provide Executive with the severance payments and benefits described in Section of the Employment Agreement, payable at the times set forth in, and subject to the terms and conditions of, the Employment Agreement. In addition, to the extent not already paid, and subject to the terms and conditions of the Employment Agreement, the Company shall pay or provide to Executive all other payments or benefits described in Section 3(c) of the Employment Agreement, subject to and in accordance with the terms thereof.
Section # Amount of Severance Benefits Upon Involuntary Termination or Good Reason Resignation. The Severance Benefits to be provided to a Participant who incurs an Involuntary Termination or a Good Reason Resignation and who satisfies the conditions of Section 3.2 shall be as follows:
Eligibility for any Severance Benefits is expressly conditioned on the satisfaction of all of the following conditions:
Payment of Cash Severance Benefits. The Severance Benefits described in Sections 4.1(a) to which a Participant is entitled shall be paid to the Participant according to the following payment schedule:
Severance. Executive shall be entitled to “Severance”, which shall mean that Executive shall have the right to receive the following:
Severance. If Executive's employment is terminated pursuant to a Qualifying Termination, Executive will receive an amount equal to twice the Base Salary plus twice the APP award target or other annual cash incentive target of Executive at the time of termination, payable in 24 substantially equal monthly installments (the “Severance Amount”). Executive's right to receive the Severance Amount is contingent upon Executive's continuing compliance with the provisions of Sections 8, 9 and 10 of this Agreement and subject to the Executive having executed and delivered to the Company an effective release of any and all claims in such form as is reasonably acceptable to the Company. Executive will not be required to mitigate the amount of payments under this Section 6, nor will any earnings that Executive may receive from any other source reduce any the Severance Amount. For purposes of this Agreement,
Severance. Employer shall pay severance to Employee in the amount of Five Thousand Dollars ($5,000.00), less applicable withholdings, within ten (10) days after Employee executes the Agreement and returns the executed Agreement to Employer, provided the employee does not revoke the Agreement as set forth in Section 17 (the “Severance Payment”). As additional consideration, Employer and Employee (collectively the “Parties”) agree that Employee shall be provided the following “Additional Equity” as set forth on Exhibit A.
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
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