Severance Amounts Clause Samples

Severance Amounts. At the conclusion of the Offer Period, ▇▇▇▇▇ shall provide a list of all Available Employees to whom ▇▇▇▇▇ submitted an offer. For each ▇▇▇▇▇ Employee (i) who is not made an offer of employment that would avoid a Qualifying Termination for such employee (as such term is defined in LINN’s Severance Plan, attached hereto as Schedule 7) and (ii) whose employment is terminated by LINN on or prior to the end of the Term, ▇▇▇▇▇ will be charged 100 percent of any severance fees and obligations associated with such termination. For each ▇▇▇▇▇-▇▇▇▇ Employee (x) who is not made an offer of employment that would avoid a Qualifying Termination for such employee and (y) whose employment is terminated by LINN on or prior to the end of the Term, ▇▇▇▇▇ will be charged 30 percent of any severance fees and obligations associated with such termination (the aggregate amount payable by ▇▇▇▇▇ under this Section 4.3 is referred to herein as “▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Fees”). LINN shall retain responsibility for (A) 70 percent of any severance fees and obligations associated with the termination on or prior to the end of the Term of any ▇▇▇▇▇-▇▇▇▇ Employee, and (B) 100 percent of any severance fees and obligations associated with the termination of any LINN employee who is not an Available Employee or whose employment is not terminated on or before the end of the Term (even if such employee provides Services under this Agreement).

Severance Amounts. In the event that the Company terminates the employment of Executive without Cause or the Executive resigns her employment with the Company with Good Reason, Executive shall receive: (i) subject to the terms of subsection 12.1(b) below, severance payments according to the following schedule: (1) If termination occurs on or before the first anniversary of the Commencement Date, then an amount equal to 200% of her then-current base salary; (2) If termination occurs after the first anniversary of the Commencement Date, then an amount equal to 100% of her then-current base salary. (ii) provided that Executive is then-eligible for and timely elects COBRA coverage, payment of Executive’s COBRA premiums for a period not to exceed eighteen (18) months; and that amount will be the amount of her then current COBRA payment; and (iii) any other compensation and benefits owed at termination of employment pursuant to Article 4.

Severance Amounts. (a) The attached Schedule 12.3(a) sets forth, as to each Employee, (i) the Retention Period applicable to the Employee, and (ii) the formula or method for calculating an agreed amount (the “Severance Amount”) of the total severance payment Seller Service Co will be required to make to the Employee upon his or her severance or termination under the Severance Policy, excluding any accrued but unpaid salaries or wages as of the date of termination or severance. Buyer shall pay to Seller Service Co a fee equal to the Severance Amounts that are owed to the Employees (except for the Retiring Employees) (i) to which Buyer Service Co does not offer employment on or prior to the expiration of the Retention Period for such Employees, (ii) who do not accept the offer of employment of Buyer Service Co, or (iii) as a result of the benefits offered by Buyer Service Co differing from the benefits provided by Seller Service Co. With respect to each Employee to whom Seller Service Co is required to pay a Severance Amount, Buyer shall pay, or shall cause Buyer Service Co to pay, to Seller a fee equal to the amount of such Severance Amount due such Employee at least one day prior to the date that Seller Service Co is required to make such Severance Amount to such Employee. Buyer shall not be obligated to pay any amounts to Seller Service Co for any severance payments that are owed by Seller Service Co to Retiring Employees in connection with such Retiring Employees retirement. By agreeing to pay Seller a fee in an amount equal to the Severance Amounts for the Employees (except for the Retiring Employees), Buyer is not undertaking any obligation to make such Severance Amounts to such Employees, and Seller Service Co shall remain responsible for making the Severance Amounts and Employee Benefits associated with the Employees under Applicable Law. (b) If (i) Buyer notifies Seller in writing that Buyer Service Co does not intend to make an offer of employment to an Employee, (ii) Buyer or Buyer Service Co instructs Seller in writing that Buyer Service Co does not wish an Employee to be employed in connection with the Business, or (iii) the Retention Period as to an Employee has lapsed without Buyer Service Co having made such Employee a Comparable Offer, whichever is the first to occur, then (A) Seller shall immediately notify Buyer that Seller Service Co intends to terminate the employment of such Employee in accordance with the Severance Policy within 10 days after the occurre...

Severance Amounts. In the event of Termination Without Cause at any time during the term, Executive shall be entitled only to continue to receive as liquidated severance amounts (i) his Base Salary for a period of twelve (12) months following the date of such Termination Without Cause, payable in equal twice monthly installments, and (ii) an amount equal to Thirty per cent (30%) of the Base Salary payable over the same period. The severance payments shall terminate upon Executive securing gainful engagement or employment during the time that severance payments are payable. No such severance amounts are due in respect of Resignation by Executive or Termination for Cause. During the twelve (12) month period during which the severance amounts are paid, Executive shall keep Mako informed, in writing, of all engagements or employments. Executive agrees to use his best efforts to secure engagement or employment.

Severance Amounts. In the event that the Company terminates the employment of Executive without Cause or the Executive resigns her employment with the Company with Good Reason, Executive shall receive: (i) subject to the terms of subsection 12.1(b) below, severance payments according to the following schedule: (1) An amount equal to 100% of Executive’s highest annual salary at any time during the 12 month period preceding the termination; (2) Payment of any annual incentive bonus otherwise payable (but for the cessation of Executive’s employment) with respect to a performance period ended prior to the cessation of Executive’s employment with such payment made no later than one-hundred twenty (120) days after the close of the fiscal year to which the payment relates; and (3) Payment of a pro-rata annual incentive bonus for the performance period in which the termination occurs, determined and paid in the same manner and at the same time as Executive’s annual incentive bonus would otherwise have been determined and paid for the applicable performance period, but for the cessation of Executive’s employment. Such incentive bonus will be prorated based on the number of days of the applicable performance period transpired prior to the date of termination KJ - Employment Agreement (February 1, 2018) 10 relative to the total number of days contained in the applicable performance period. (ii) provided that Executive is then-eligible for and timely elects COBRA coverage, payment of a cash amount equivalent to Executive’s COBRA medical and dental premiums for a period of eighteen (18) months; based upon the amount of her then current COBRA medical and dental payments as of the date of termination such payment to be made no later than ninety (90) days after Executive’s last day of employment; and (iii) any other compensation and benefits owed at termination of employment pursuant to Article 4.

Severance Amounts. For the period beginning with the Termination Date and continuing through September 30, 2015, the Bank and GCB hereby agree to pay ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ pay in the amount of Twenty-Five Thousand Dollars ($25,000.00) per year, provided he signs the release attached as Exhibit A as required by this Agreement. Such amount shall be paid in a lump sum on or about August 1st of each year with a pro-rated amount being paid for the period of August and September 2015. With regard to payment for 2007, this sum shall not be paid until ▇▇▇▇▇▇▇▇ signs Exhibit A and its seven day revocation period has expired. Payments in accordance with this Paragraph shall terminate if ▇▇. ▇▇▇▇▇▇▇▇ becomes employed by another person or business, which employment provides ▇▇. ▇▇▇▇▇▇▇▇ with eligibility to participate in any health, medical, and/or health insurance plan.

Severance Amounts. If Employee's employment is terminated by Employee for Good Reason or pursuant to Section 4.2.4(a), then, subject to Employee's compliance with the provisions and restrictions of Sections 5.1, 5.2 and 5.3, (i) the Company shall pay the Employee his Salary through the Date of Termination at the rate in effect at the time Notice of Termination is given and (ii) in lieu of any further salary payments to the Employee for periods subsequent to the Date of Termination, Company shall pay, as severance pay to the Employee, an amount equal to the product of (A) the Employee's annual Salary in effect as of the Date of Termination divided by 12; multiplied by (B) the number 24, (the "severance amounts) such payment to be made as soon as reasonably possible with due regard to the financial status of the Company but not later than (i) ninety (90) days following the Date of Termination with respect to at least the first $250,000 of such amount, and (ii) one hundred eighty (180) days following the Date of Termination with respect to the balance of such amount. In the event the balance of the severance amount has not been paid to Employee within said ninety (90) day period, the unpaid balance shall bear interest, from such ninetieth (90th) day until paid, at an annual rate of interest equal to the sum of the "prime rate" publicly announced from time to time by First Union National Bank plus 4.00 percent. In the event that Company fails to make either payment pursuant to this Section, Employee shall cease to be bound by the restrictions set forth in Section 5.3.

Severance Amounts and the Executive Supplemental Pension Plan. Notwithstanding any possible interpretation to the contrary, for purposes of determining the Executive's accrued benefit under the Ruby Tuesday, Inc. Executive Supplemental Pension Plan, no amounts payable to the Executive pursuant to Section 4 hereof shall increase his "Annual Base Salary" (as defined therein).

Severance Amounts. From and after Closing, with respect to any Offered Employees who do not become Transferred Employees, Purchaser shall reimburse Seller for any severance payments Seller makes to such employees (to the extent such payments are not greater than the severance amounts indicated for such employees on Schedule 4.23). Purchaser shall make such reimbursement from time to time within five Business Days after receipt from Seller of an invoice therefor, indicating the applicable employee and the amount of severance payment.