Other Severance Payments Clause Samples

Other Severance Payments. In the event that during the Employment Period (i) Executive’s employment is involuntarily terminated by the Company (except due to a No Severance Benefits Event), (ii) Executive’s employment is terminated due to death or Disability, or (iii) Executive terminates his employment for Good Reason; then in any such event under clause (i), (ii), or (iii), subject to Section 6(c), the following severance benefits shall be provided to Executive or, in the event of his death before receiving all such benefits, to Executive’s Designated Beneficiary following his death:

Other Severance Payments. FTD shall have the right to terminate the Executive’s employment at any time during the term of this Agreement by giving the Executive written notice of the effective date of the termination. If (i) this Agreement is not renewed pursuant to Section 1 or (ii) the Executive’s employment is terminated (A) without Cause by FTD (other than during the Change of Control Severance Period) or (B) by the Executive following the Executive’s assignment to a position that represents a material diminution in the Executive’s operating responsibilities (other than during the Change of Control Severance Period) (it being understood that a change in the Executive’s title shall not by itself entitle the Executive to terminate the Executive’s employment and receive the right to severance payments under this paragraph), the Executive will be paid (1) continuing salary for one year from the effective date of any such non-renewal or termination of employment and (2) any pro rata performance bonus to which the Executive may be entitled pursuant to this Agreement; provided, however, that in no event shall the Executive be entitled to any payment under this Section 4(b) if the Executive is in breach of the Confidentiality and Non-Competition Agreement.

Other Severance Payments. During the Term of Employment, in the event that: (i) Executive’s employment is involuntarily terminated by the Company (except due to a “No Severance Benefits Event” (as defined in Section 6(e)), (ii) Executive’s employment is terminated due to his death or “Disability” (as defined in Section 6(e)), or (iii) Executive terminates his own employment hereunder for “Good Reason” (as defined in Section 6(e)), then in any such event under clause (i), (ii) or (iii), the following severance benefits shall be provided to Executive or, in the event of his death before receiving all such benefits, to his “Designated Beneficiary” (as defined in Section 6(e)) following his death: (1) The Company shall pay to Executive as additional compensation (the “Additional Payment”), an amount equal to three-fourths (0.75) times the sum of: (A) the Executive’s highest Base Salary as in effect at any time within 12 months before the Termination Date; plus (B) an amount determined by the Compensation Committee in its discretion based upon factors including its subjective evaluation of the Executive’s past and present job performance, the Company’s then-current cash position, and other factors deemed relevant to such determination by the Compensation Committee, with such amount to be in a range of from 0% to 50% of the annualized average of the Annual Bonuses paid or payable to the Executive for the three years immediately preceding the year in which the Termination Date occurs. Subject to application of Section 38 hereof, the Company shall make the Additional Payment to Executive in a cash lump sum payment, net of tax withholdings, within thirty (30) calendar days following the Termination Date. (2) The Company shall maintain continued group health plan coverage following the Termination Date under all plans subject to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) (as codified in Code Section 4980B) for Executive and his eligible spouse and dependents for the maximum period for which such qualified beneficiaries are eligible to receive COBRA coverage (the “Continuation Period”). For the initial nine (9) months of the Continuation Period (or, in the event of a termination of employment that requires payment of an Additional Payment described in Section 6(c) hereunder, then for the initial twelve (12) months of the Continuation Period), Executive (and his spouse and dependents) shall not be required to pay more for such COBRA coverage than is charge...

Other Severance Payments. If the Officer immediately prior to the date of any Change in Control would be entitled to receive cash severance payments by reason of termination of employment (if termination then occurred) under any other plan, program or policy of the Company (or subsidiary) or any agreement between the Officer and the Company (or subsidiary) (collectively "policy"), and if there is a reduction in or termination of any such amounts payable on or after such Change in Control but before the Officer's employment is terminated, then if the Officer becomes entitled to severance benefits pursuant to Paragraph 4 above the Officer shall also be entitled to receive a cash payment that, when aggregated with any amount actually paid pursuant to any such policy, equals the amount of cash severance payments that would have been payable pursuant to such policy immediately prior to the date of such Change in Control. Further, if the Officer becomes entitled to receive cash severance payments under any such policy by reason of termination of employment within any period commencing with the day any Change in Control occurs and ending thirty-six (36) months after the date of that Change in Control, then to the extent such payments would be paid later than the date on which payments must be made under Paragraph 4(a) above the present value (determined as provided in Paragraph 4(a)) of such payments shall be paid no later than the date on which payments must be made under Paragraph 4(a). In addition, if on the date of any Change in Control the Officer is receiving any such payments, the present value (determined as provided in Paragraph 4(a)) of the remainder of such payments shall be paid no later than the date on which payments must be made under Paragraph 4(a).

Other Severance Payments. In the event that during the Term of Employment (i) Executive’s employment is involuntarily terminated by the Partnership (except due to a “No Severance Benefits Event” (as defined in Section 6(d)), (ii) Executive’s employment is terminated due to “Disability” or “Retirement” (as such terms are defined in Section 6(d)) or (iii) Executive terminates his employment for Good Reason (as defined in Section 6(d)), then in any such event under clause (i), clause (ii) or clause (iii), the following severance benefits shall be provided to Executive or, in the event of death before receiving all such benefits, to Executive’s “Designated Beneficiary” (as defined in Section 6(d)) following death: (1) The Partnership shall pay as additional compensation (the “Additional Payment”), an amount equal to Two (2) years of Base Salary in effect as of the Termination Date. The Partnership shall make the Additional Payment to Executive in a cash lump sum, net of applicable withholdings, not later than sixty (60) calendar days following the Termination Date.

Other Severance Payments. The benefits payable to the Executive hereunder following a Change of Control, in accordance with the provisions of Section 2 above, are in lieu of any severance payments due the Executive pursuant to the provisions of any employment agreement between the Company and the Executive, except, however, that in all events the Company shall continue to pay to the Executive in accordance with the provisions of any such employment agreement all Base Salary and Bonus accrued to the effective date of termination of the Executive's employment, in addition to any amounts payable to the Executive pursuant to Section 2 of this Agreement.

Other Severance Payments i. If Executive's employment is terminated prior to the last day of the Employment Period, and such termination is either by Executive for Good Reason or by the Company for any reason other than for Cause, and such termination is not a Qualified Termination, no compensation or other benefits shall be payable to or accrue to Executive hereunder, except as follows: (1) For the longer of (A) one year after the Date of Termination or (B) the remainder of the Employment Period, the Company will continue to pay to Executive his Base Salary at the rate in effect on the Date of Termination. Base Salary shall be paid for the first twelve months of the period without reduction for compensation earned from other employment or self-employment, and shall thereafter be reduced by such compensation. (2) Until the expiration of Base Salary payments described in (1) immediately above or until Executive shall commence other employment or self-employment, whichever shall first occur, the Company will provide medical and hospital insurance and term life insurance (but not long-term disability insurance) for Executive and his family, comparable to the insurance provided for executives generally, as the Company shall determine, and upon the same terms and conditions as shall be provided for Company executives generally, provided that Executive's continued participation is possible under the general terms and provisions of such plans and programs. In the event that Executive is ineligible to participate in such plans or programs, the Company shall arrange upon comparable terms to provide Executive with benefits substantially similar to those which he is entitled to receive under such plans and programs. (3) For purposes of the MIP, Executive shall be entitled to payment, if any, pursuant to the terms of the MIP, or, if greater, such amount as Executive would have earned under MIP if his employment had continued until the end of the fiscal year (pro-rated for the period of active employment during the year). Executive shall also be entitled to payments or benefits under other plans of the Company to the extent provided therein in the circumstances. ii. If Executive's employment terminates by reason of death, Disability or Incapacity, and such termination is not a Qualified Termination, no compensation or benefits shall be payable to or accrue to Executive hereunder, except that Executive shall be entitled to payment, if any, pursuant to the terms of the MIP or, if greater, such a...

Other Severance Payments. Benefits hereunder shall be in lieu of any benefits to which Executive would otherwise be entitled under any severance pay plan of the Company or its Subsidiaries, and shall be reduced by any severance payments from the Company or its Subsidiaries to which Executive is entitled under applicable federal or state law (for example, under a so-called "tin parachute" or plant closing law).

Other Severance Payments. In the event that during the Term of Employment (i) Executive's employment is involuntarily terminated by the Company (except due to a "No Severance Benefits Event" (as defined in Section 6(e)), (ii) Executive's employment is terminated due to his "Disability" or