Termination Compensation Sample Clauses

Termination Compensation. (a) Upon Employee's voluntary termination of employment (other than voluntary termination after a Change of Control (as defined below)), or termination of Employee's employment for Cause, the Company shall pay to Employee all compensation due to the date of termination, but shall have no further obligation to Employee hereunder in respect of any period following termination. (b) Upon the death of Employee, the Company shall pay to Employee's estate or such other party who shall be legally entitled thereto, all compensation due to the date of death, and an additional amount equal to compensation at the rate set forth in this Agreement from the date of death to the final day of the month following the month in which the death occurs. (c) Upon termination of Employee's employment by the Company other than for Cause, or upon Employee's voluntary termination of employment after a Change of Control, the Company shall pay to Employee an amount equal to twelve (12) months' compensation calculated with reference to Employee's then current annual compensation (exclusive of bonuses), which amount shall be due and payable at termination. (d) Amounts payable under this Section shall be net of amounts required to be withheld under applicable law and amounts requested to be withheld by Employee. (e) Upon Termination of Employee's employment by the Company other than for Cause, all outstanding options granted to Employee pursuant to the Company's 1992 Stock Incentive Plan, which vest with the passage of time (and are not performance related) shall be immediately fully vested. (f) As used herein, "Change of Control" means the occurrence of any one of the following events: (i) any Person becomes the beneficial owner of twenty-five percent (25%) or more of the total number of voting shares of the Company; (ii) any Person (other than the Persons named as proxies solicited on behalf of the Board of Directors of the Company) holds revocable or irrevocable proxies representing twenty-five percent (25%) or more of the total number of voting shares of the Company; (iii) any Person has commenced a tender or exchange offer, or entered into an agreement or received an option, to acquire beneficial ownership of twenty-five percent (25%) or more of the total number of voting shares of the Company; and (iv) as the result of, or in connection with, any cash tender or exchange offer, merger, or other business combination, sale of assets, or any combination of the foregoing transactions, t...

Termination Compensation. Termination Compensation" has the meaning specified in Paragraph 3(a)(1).

Termination Compensation. If Employee's employment hereunder is terminated pursuant to Sections 7(a), 7(b) or 7(e) of this Agreement, the Company shall pay the Employee his full base salary through the Termination Date, plus, within five (5) business days of the Termination Date, any bonuses, incentive compensation, or other payments due which pursuant to the terms of any compensation or benefit plan have been earned or vested at of the Termination Date. If Employee's employment is terminated by the Company under Section 7(c) without cause, or if there is a change in control of the Company as defined in Section 7(d), all unexercised options granted to Employee under the Company's Incentive Stock Plan or Amended Incentive Stock Plan shall accelerate and shall immediately vest. If Employee's employment is terminated pursuant to Sections 7(c) or 7(d) of this Agreement, the Company shall pay the Employee the following: (i) within five (5) business days of the termination, his full base salary through the Termination Date, plus any bonuses, incentive compensation, or other payments due which pursuant to the terms of any compensation or benefit plan have been earned or vested as of the Termination Date; (ii) within five (5) business days of the termination, to compensate for all accrued but unpaid leave such as holidays and vacation under the Company's paid leave plan, an amount equal to the Employee's then current base salary multiplied by the product of (A) the total number of leave days accrued, divided by (B) the total number of work days in the fiscal year in which the Termination Date occurs;

Termination Compensation. In the event of a termination of this Agreement pursuant to Section 5(a)(i), 5(a)(iii) or 5(b)(i) hereof, Employer shall pay to Executive, within thirty (30) days of termination, an amount in one lump sum ("Termination Compensation") equal to (i) in the case of a termination pursuant to Section 5(a)(i) or 5(a)(iii) hereof, Executive's annual Base Compensation as of the effective date of such termination, or (ii) in the case of a termination pursuant to Section 5(b)(i) hereof, two times (A) the average annual Base Compensation paid or payable to Executive for or with respect to the two full calendar years immediately preceding the calendar year in which the date of termination occurs, plus (B) the average annual Performance Bonus Distribution paid or payable to Executive for or with respect to the two full calendar years immediately preceding the calendar year in which the date of termination occurs. For purposes of calculating Employee's Termination Compensation pursuant to clause (ii) above, if the termination takes place prior to December 31, 1999, the Termination Compensation for any applicable calendar year in which the termination takes place shall be determined as follows: (1) if the termination takes place on or prior to December 31, 1997, the full Termination Compensation described in clause (d)(ii) above shall be deemed to be 350% of Executive's Base Compensation for the Initial Bonus Period; (2) if the termination takes place after December 31, 1997 but on or prior to December 31, 1998, the Performance Bonus Distribution component of the Termination Compensation calculation described in clause (d)(ii) above shall be deemed to be two times the average of (A) the amount of the Performance Bonus Distribution paid to Executive or to which Executive is entitled for the Initial Bonus Period pursuant to Section 3(b) hereof and (B) the greater of (1) 75% of Executive's Base Compensation for the 1998 calendar year or (2) 133% the Performance Bonus Distribution paid to Executive or to which Executive is entitled for the Initial Bonus Period pursuant to Section 3(b) hereof; or (3) if the termination takes place after December 31, 1998 but on or prior to December 31, 1999, the Performance Bonus Distribution component of the Termination Compensation calculation described in clause (d)(ii) above shall be deemed to be two times the average of (A) 133% of the Performance Bonus Distribution paid to Executive or to which Executive is entitled for the Initial Bonus...

Termination Compensation. The following provisions for termination compensation in the event of lay-off will apply: (a) In this sub-article, service means continuous service defined as all periods of full-time continuing, regular part-time, term, short term and student employment (including periods of authorized leave without pay), with the Company, its predecessor company (Atomic Energy of Canada Limited), and does not include any period of service for which termination compensation has previously been granted. (b) (i) Four (4) weeks' pay for the first year of service; plus

Termination Compensation. For purposes of this Agreement, the term “Termination Compensation” shall mean: (i) one hundred fifty percent (150%) of the Employee’s then current annual base salary which shall be payable in a lump sum within two weeks after separation of employment, conditioned on Employee executing the Company’s standard form severance and release agreement, and shall be subject to customary withholding and other applicable payroll processes. Employee shall execute the Company’s standard form severance and release agreement within sixty (60) days after the Employee’s termination.

Termination Compensation. Neither party hereto shall be liable to the other for any termination compensation whether based on goodwill, loss of income or otherwise.

Termination Compensation. If your employment with inTEST is terminated without "Cause" (as defined in Section 6) at any time within two years following a "Change of Control" (as defined in Section 4), you will receive the "Termination Benefits" (as defined in Section 3). You will also receive the Termination Benefits if you terminate your employment for "Good Reason" (as defined in Section 5) at any time within two years following a Change of Control. You are not entitled to receive the Termination Benefits if your employment is terminated by you or inTEST for any or no reason before a Change of Control occurs or more than two years after a Change of Control has occurred. In order to receive the Termination Benefits, you must execute any release of claims that you may have pursuant to this Agreement (but not any other claims) that may be requested by inTEST. The Termination Benefits will be paid to you under the terms and conditions hereof, without regard to whether you look for or obtain alternative employment following your termination of employment with inTEST.

Termination Compensation. Effective date of ratification article 18.04 and 18.05 are deleted from the collective agreement and accrual of termination compensation ceases.