CHANGE IN CONTROL SEVERANCE BENEFITS. If your employment with the Company is terminated as described in Section 2.3, in addition to the Accrued Obligations, you shall be entitled to the benefits specified in [subsections 3.1 and 3.2]2] (the “Severance Benefits”) for the period of time set forth in the applicable section.
Change in Control Severance Benefits. If the Executive’s employment terminates by reason of a Change in Control Termination, in lieu of any amounts payable pursuant to Section 1 above, # the Company will pay the Executive a lump sum amount equal to two times the sum of # the Executive’s annual base salary, at the rate in effect as of the Termination Date, and # the Executive’s target annual cash incentive award for the year in which the Termination Date occurs (the “CIC Severance Payment”), # the Company will pay the Executive a lump sum amount equal to a pro rata amount of the Executive’s target annual cash incentive award for the year in which the Termination Date occurs, prorated based on the percentage of the year worked prior to the Termination Date (the “Bonus Payment”), # all outstanding unvested Performance Awards shall become fully vested as of the Termination Date (the “Performance Shares Acceleration”), assuming the target level of performance is achieved, # all outstanding unvested Stock Units and other equity incentive awards that vest solely based on continued service shall become fully vested as of the Termination Date (the “RSU Acceleration”), # the Company will pay an amount equal to two times the Medical Plan Coverage Amount (the “CIC Medical Plan Coverage Payment”), and # the Executive will be eligible for Outplacement Assistance (collectively, the CIC Severance Payment, the Bonus Payment, the Performance Shares
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:
nonqualified benefit plan or equity incentive plan to which Lammersfeld is a participant or grantee) and that, upon his receipt of the Severance Benefits, he will have no further right or claim to severance pay or any other benefits in connection with his separation under the COC Agreement or any other Bank policy or practice.
will provide Rosengarten with the benefits in this Paragraph 3, to which she is not otherwise entitled (collectively, the Severance Benefits). Rosengarten acknowledges and agrees that the Severance Benefits are in full and complete satisfaction of any payments or benefits owed to her in connection with the separation of her employment with the Bank (except for any benefits to which Rosengarten may be entitled under the Banks Supplemental Executive Retirement Plan or any Stock Option Award Agreement or Restricted Stock Unit Award Agreement between Rosengarten and the Bank) and that, upon her receipt of the Severance Benefits, she will have no further right or claim to severance pay or any other benefits in connection with her separation under the Employment Agreement or any other Bank policy, manual or practice.
Provided you (i) enter into and comply with this Agreement and (ii) do not experience a Specified Termination prior to March 9, 2023 (collectively, the “Severance Conditions”), you will be eligible for the following “Severance Benefits”:
Severance. NWL shall pay to the Executive in a single lump sum, within 10 business days following the date of the employment termination, an amount equal to three times the sum of the Executive’s annual base salary plus his target bonus.
Severance. In the event that Employee's employment is terminated pursuant to Section 1 of this Agreement (exclusive of a termination after a change in control where severance is governed by the provisions contained in Section 13 herein and exclusive of termination pursuant to Section 5, where material breach is committed by the Employee), the Employee shall receive severance pay for a period of one (1) year following termination of employment. Severance will be paid in accordance with normal and customary payroll practices of the Employer. The aggregate severance will be equal to the Employee's then current, annual base compensation.
Severance. No severance will be due under this Agreement. However, Employee will be eligible for statutory benefits under Florida labor law, if any.
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.
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