Example ContractsClausesConditions to Receipt of Severance Benefits
Conditions to Receipt of Severance Benefits
Conditions to Receipt of Severance Benefits contract clause examples
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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.

Severance Benefits: "Severance Benefits" means:

Severance Benefits” means Severance Benefits described in Section 4.3.

Receipt of Information. Purchaser has been afforded the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Corporation concerning the terms and conditions of the offering of the Purchased Shares and the merits and risks of investing in the Purchased Shares.

Receipt of Notices. Notices and communications sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices sent by facsimile shall be deemed to have been given when sent and receipt has been confirmed by telephone. Notices delivered through electronic communications to the extent provided in subpart # below shall be effective as provided in said subpart (c).

Non-Competition and Release Agreement” is an agreement, in substantially the form attached hereto in Annex A, executed by and between the Executive and the Company as a condition to the Executive’s receipt of Severance Benefits.

receipt by Company of notification that Employee has made the necessary election of benefits continuation under COBRA. Unless terminated earlier pursuant to the Employment Agreement or at the election of Employee, the Company will continue to pay Employee the monthly installment of the Severance Benefits for the Severance Period, so long as the Company receives notification that the Employee is continuing to pay the necessary premiums to the carrier or COBRA administrator.

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