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Severance Pay. In the event Employee's employment with Fresh Choice is terminated due to either a layoff, approved by the President and/or Chairman, of the Employee or an involuntary separation as a result of a "Transfer of Control," Fresh Choice shall pay "Severance Pay" to the Employee beginning as of Employee's actual last day of work (the "Separation Date") in the amount of 9 months continuation of current/final base salary payable in equal bi weekly installments, less applicable state and federal taxes, through payroll (hereinafter, the "Severance Period"). If the Employee's Separation Date does not coincide with the end of a payroll period, then the first and last installment may be prorated to reflect the partial pay period.
Severance Pay. Notwithstanding any other provision of this Agreement, if the Employment Period is terminated by the Company or any successor of the Company pursuant to Section 6(d) hereof, or by the Executive pursuant to Section 7(a) hereof, the Company shall pay the Executive a severance benefit equal to the Executive's Base Salary for the remaining Employment Period at the annual rate in effect immediately prior to such termination. Any payment required pursuant to this Section 10 shall be made within thirty (30) days following the termination date.
Severance Pay. If the Executive's employment hereunder is involuntarily terminated for any reason other than those set forth in Section 2(c) hereof, then unless the Corporation shall have terminated the Executive for "Cause", the Corporation shall pay the Executive severance pay in an amount equal to twenty four (24) months of the Executive's base salary on the effective date of the termination, plus 1/12 of the amount
SEVERANCE PAY. In the event of termination, Employee shall be entitled to compensation (the "Severance Pay") in accordance with the following:
SEVERANCE PAY. In lieu of, and in full satisfaction of any and all claims you have or may have thereafter to receive cash compensation or awards under or otherwise to participate in or under any feature of any compensation policy, plan, program or arrangement of the Company subsequent to your Termination, a lump sum payment ("Severance Pay") in an amount that is three (3) times the sum of:
SEVERANCE PAY. If Employee's Employment under this Agreement is terminated by the Corporation before the Expiration Date other than as provided under Subsection 4(a), (b) or (c) above, or if Employee's Employment under this Agreement is terminated by Employee before the Expiration Date for "Good Reason" under Subsection 4(d) above, the Employee shall be entitled to receive Severance Pay for the "Compensation Period," defined as the period beginning on the employment termination date and ending on the Expiration Date. "Severance Pay" means the following:
Severance Pay. If Executive's employment is terminated by the Company pursuant to Section 7(c) or by the Executive pursuant to 7(d) above, Executive shall be entitled to severance pay based upon the date of termination of his employment as follows:
Severance Pay. Section 8 of the Employment Agreement is amended in its entirety to read as follows:
Severance Pay. In the event that the Company terminates your employment without Cause during the Term of Employment:
SEVERANCE PAY. In the event Employee's services are terminated by Company pursuant to Paragraph 10(d) or by Employee pursuant to Paragraph 10(e) above prior to the completion of the Term, Employee shall receive Employee's fixed salary set forth in Paragraph 5(a) hereof for the balance of the Term, payable in equal installments no less frequently than semi monthly. The termination benefits contemplated by this Paragraph shall be reduced by the aggregate amount of any wages, salaries, fees or other compensation ("Earnings") earned by Employee during the period in which payments
Severance Pay. The Severance Pay provided by this Plan shall be determined based upon the number of Years of Service and Base Weekly Pay of an Eligible Employee at the time of the Severance Event as follows:
Severance Pay. Employee shall be entitled to ONE MILLION TWO HUNDRED THOUSAND DOLLARS ($1,200,000) in severance, payable in twenty four (24) equal monthly installments, beginning thirty (30) days subsequent to any of the following events:
Severance Pay. Employee shall be entitled to severance pay in an amount equal to the Compensation payable to the Employee pursuant to paragraph 3 of this Contract. Such severance pay will be payable in accordance with the Corporation's normal pay practices over the 12 months following such termination of employment. Notwithstanding the foregoing, in the event Employee's employment is terminated without cause within one year of a change of control of the Corporation or within one year after the sale of substantially all the assets of the Corporation, then the severance pay provided for herein shall be increased to two (2) times the Compensation, less the Compensation paid to the Employee between the time the change of control occurred and the termination ...
SEVERANCE PAY. The term "Severance Pay" shall mean the amount payable as set forth in Section 5.a. of the Plan.
Severance Pay. If the Company terminates the employment of Employee at any time, or if a change in ownership or control (as defined below) of the Company occurs and Employee voluntarily terminates his employment with the Company within one year after such change in ownership or control, the Company shall be required to pay Employee severance pay in an amount equal to the sum of the unpaid Salary for the remainder of the term of this Agreement plus the total Salary and Bonus Compensation paid to Employee by the Company during the 365 day period preceding such termination. Such severance pay shall be payable to Employee by the Company in cash on or before the thirtieth day after the effective date of such termination. For purposes of this Section 3.5, a ...
SEVERANCE PAY. In the event that this Agreement shall be terminated by virtue of clauses (1) or (7) of subparagraph 4B, Employee shall be entitled to severance pay ("Severance Pay") in an amount equal to two months' base salary (plus an additional month's base salary for each full Contract Year which has elapsed prior to the effective date of such termination) at the rate in effect at the time of such termination. Severance Pay shall be paid to Employee in such number of substantially equal monthly installments as shall equal the number of months' base salary comprising the Severance Pay, each payable on the first day of the month, beginning on the first day of the month immediately succeeding that month in which the termination of this Agreement shall ...
Severance Pay. The Company will pay to you 278,250, less all applicable taxes and withholdings, as severance pay (an amount equivalent to nine months of your current base salary). The severance pay will be paid in 18 equal semi monthly installments in accordance with the Company?s regular payroll practices, but in no event shall payments begin earlier than the Company?s first payroll date following expiration of the Revocation Period for the Additional Release (as described therein).
Severance Pay. Employee shall not be entitled to any severance pay. (b) Employee's Right to Compensation and Benefits. Employee shall only be entitled to the pro rata share of Compensation and employee benefits, if any, earned but not paid through the date of termination of employment. Employee shall only be entitled to such additional bonus, if any, which has been previously authorized by the Board of Directors, but has not been paid as of the date of termination of employment.
SEVERANCE PAY. Each Key Employee who is terminated in accordance with Section 4.b. shall, within five (5) business days after such termination, receive Severance Pay from the Company in a lump sum payment (the "Severance Payment") in an amount equal to one times the Key Employee's Base Salary plus his Average Incentive Pay.