Benefits Upon Separation Clause Samples

Benefits Upon Separation. Professional development funds outlined in this article are accrued throughout the contract year. Although the employee shall be permitted to request funds in advance of accrual, if the employee voluntarily separates from employment during the contract year, s/he shall be required to reimburse the District for any funds paid, but not accrued at the time of separation. Professional development funds also cannot be used for courses or activities that end after the employee’s date of separation. If an employee voluntarily separates from employment prior to completion of an approved activity, s/he shall be required to reimburse the District for any advance payments made on his/her behalf for this course/activity.

Benefits Upon Separation. Section 1. Any employee separated for any reason, excluding those discharged for cause, who give proper notice shall be entitled to receive unused accrued ETO . Proper notice for Employees shall mean written notice of separation three (3) weeks prior to the last day of work. Once such notice is given by the Employee, he/she may not use unused accrued ETO.

Benefits Upon Separation. (a) Upon employment separation from the Town, employees shall be entitled to receive one hundred percent (100%) of their accumulated ETO, up to the maximum of 1,040 hours before 6/30/15 and up to 800 hours after 7/1/15, except as noted in subparagraph (b) below. (b) Employees who resign with less than two week’s written notice shall be entitled to receive fifty percent (50%) of their accumulated ETO pay up to the maximum amount of 520 hours before 6/30/15, (1,040 divided by 2) and 400 hours after 7/1/15 (800 divided by 2).

Benefits Upon Separation. On or within 30 days following your Separation Date, the Company will pay you your accrued and unused vacation (if any), and you will be entitled to any benefits that are due to you under the Company’s 401(k) plan in accordance with the terms of that plan. As of the Separation Date, your participation in all other Company benefit plans, including the Company’s group health and dental insurance plans, shall cease. You will receive a notice regarding the terms of continuation of coverage under the Consolidated Omnibus Budget Reconciliation Act of 1986 (“COBRA”). You will be eligible to participate in COBRA for a period of up to eighteen (18) months. If you choose to participate in COBRA, you will be responsible for all COBRA payment premiums.

Benefits Upon Separation. (a) Subject to (b) and (c) below, regular employees who are receiving benefits pursuant to Section 1.2 shall continue to receive such benefits upon separation until the termination of the illness or until the maximum benefit entitlement has been granted, whichever comes first, if the notice of separation is given after the commencement of the illness for which the benefits are being paid.

Benefits Upon Separation. In connection with the termination of his employment, Mr. ▇▇▇▇▇▇▇ ▇▇▇ll be entitled to the following: (a) Mr. ▇▇▇▇▇▇▇ ▇▇▇ll be entitled to receive payment in full promptly after the Separation Date of his base salary accrued as of the Separation Date but not theretofore paid, together with reimbursement for any previously unreimbursed Company expenses (subject to presentation of adequate supporting documentation therefor and compliance with other Company policies regarding expense reimbursement). (b) All of Mr. ▇▇▇▇▇▇▇'▇ ▇▇▇efits, to the extent accrued and vested through but not after the Separation Date, under the Company's 401(k) Plan and Employee Stock Ownership Plan (ESOP) shall be paid to Mr. ▇▇▇▇▇▇▇ ▇▇ accordance with the terms of such plans. (c) Mr. ▇▇▇▇▇▇▇ ▇▇▇ll be entitled to continuation of medical benefits at his expense to the extent required under COBRA. (d) Mr. ▇▇▇▇▇▇▇ ▇▇▇ll be entitled to participate in the Company's Employee Stock Purchase Plan through the Separation Date, in accordance with the terms of that plan. (e) Mr. ▇▇▇▇▇▇▇ ▇▇▇ll be entitled to the stock option rights set forth in Section 3 hereof. (f) Mr. ▇▇▇▇▇▇▇ ▇▇▇ll continue to be entitled to the benefits of the indemnification provisions applicable to officers of the Company under the Company's By-laws. (g) The Company shall pay Mr. ▇▇▇▇▇▇▇ ▇ ▇on-accountable expense reimbursement of $20,000 for relocation expenses that Mr. ▇▇▇▇▇▇▇ expects to incur in connection with the sale of his residence in Pittsburgh, such expense reimbursement to be paid within 30 days of the date of this Agreement. Except as expressly provided above, Mr. ▇▇▇▇▇▇▇ ▇▇▇ves any compensation, benefits or rights that may have accrued in his capacity as an employee or otherwise prior to the date of this Agreement and shall not be entitled to receive any salary or benefits or participate in any compensation plans, programs or arrangements of the Company after the Separation Date (other than for the consulting fees and expense reimbursement set forth in Section 4).

Benefits Upon Separation. (a) Executive’s termination of employment with Perficient is voluntary and without Good Reason and the provisions of Section 9 (c) of the Employment Agreement shall be applicable. For the avoidance of doubt, the parties acknowledge and agree that the provisions of Sections 9 (a), 9 (b) and 10 have no application to the separation contemplated by this Agreement or otherwise, and are hereby deemed cancelled as of the date immediately prior to the Effective Date and shall have no application with respect to the separation from employment contemplated by this Agreement. (b) Upon termination of Executive’s employment with Perficient on the Effective Date, Executive will be entitled to the following: (1) Perficient will pay Executive all Base Salary (calculated at the annual rate of $150,000) that has been earned, accrued and not yet paid through the Effective Date. (2) Provided Executive has continued to work as a consultant through and ending January 1, 2011 in accordance with the terms of this Agreement, in addition to any other awards then vested, 70,000 shares of restricted stock, 7,924 shares of incentive stock options, and 20,647 shares of non-qualified stock options previously granted to Executive, scheduled to vest in 2011 and which otherwise would have been cancelled as of January 1, 2011, shall vest at the prices and on the terms set forth in the applicable award agreements. All vested shares and options will be exercisable in accordance with the terms of the applicable award agreements, and the parties agree and acknowledge that Executive will have three (3) months from January 1, 2011 to exercise any vested options. (3) Subject to the respective terms and conditions of the benefit plans and programs in which Executive participated during his employment with Perficient, Executive will be entitled to payments and benefits which will have accrued and become vested thereunder at or prior to the Effective Date, and which have not been forfeited prior to or at the Effective Date. Executive will be provided with information about those payments and benefits, and such payments and benefits will be paid or become available to Executive in accordance with the respective terms and conditions of each such plan or program, on or after the Effective Date. (4) Executive will be entitled to continue his health and dental insurance after the Effective Date in accordance with the Consolidated Omnibus Budget Reconciliation Act of 1986 ("COBRA"). For purposes of COBRA,...

Benefits Upon Separation. Professional development funds outlined in this article are accrued throughout the contract year. Although the employee shall be permitted to request funds in advance of accrual, if the employee voluntarily separates from employment during the contract year, they shall be required to reimburse the District for any funds paid, but not accrued at the time of separation. Professional development funds also cannot be used for courses or activities that end after the employee’s date of separation. If an employee voluntarily separates from employment prior to completion of an approved activity, they shall be required to reimburse the District for any advance payments made on their behalf for this course/activity. —-----------------------------------------------------------------------------------------------------------------------------------------------------------------

Benefits Upon Separation