Termination Benefits

Example Definitions of "Termination Benefits"
Termination Benefits. Constitute an "excess parachute payment" under Section 280G of the Code or any successor thereto, and in order to avoid such a result, Termination Benefits will be reduced, if necessary, to an amount, the value of which is one dollar ($1.00) less than an amount equal to three (3) times Executive's "base amount," as determined in accordance with Section 280G of the Code. The reduction of the Termination Benefits provided by this Section 3 shall be applied to the cash severance benefits otherwise... payable under Section 3(a) hereof. View More Arrow
Found in OBA Financial Services, Inc. contract
Termination Benefits. Constitute The payments or benefits to be made or provided to Executive under Section 3 hereof (the "Termination Benefits") constitute an "excess parachute payment" under Section 280G of the Code or any successor thereto, and in order to avoid such a result, Termination Benefits will be reduced, if necessary, to an amount, the value of which is one dollar ($1.00) less than an amount equal to three (3) times Executive's "base amount," as determined in accordance with Section 280G of the Code.... The reduction of the Termination Benefits provided by this Section 3 shall be applied to the cash severance benefits otherwise payable under Section 3(a) hereof. View More Arrow
Found in OmniAmerican Bancorp, Inc. contract
Termination Benefits. Constitute an An "excess parachute payment" under Section 280G of the Internal Revenue Code of 1986, as amended ("Code") or any successor thereto, and in order to avoid such a result, Termination Benefits will be reduced, if necessary, to an amount, the value of which is one dollar ($1.00) less than an amount equal to three (3) times Executive's "base amount," as determined in accordance with Section 280G of the Code. The reduction of the Termination Benefits provided by this Section 3 shall be... applied to the cash severance benefits otherwise payable under Section 3(a) hereof. View More Arrow
Found in Pathfinder Bancorp, Inc. contract
Termination Benefits. Constitute an "excess parachute payment" under Section 280G of the Code or any successor thereto, and in order to avoid such a result, Termination Benefits will Will be reduced, if necessary, to an amount, the value of which is one dollar ($1.00) less than an amount equal to three (3) times Executive's "base amount," as determined in accordance with Section 280G of the Code. The reduction of the Termination Benefits provided by this Section 3 shall be applied to the cash severance benefits... otherwise payable under Section 3(a) hereof. View More Arrow
Found in OmniAmerican Bancorp, Inc. contract
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Termination Benefits. (1) all unvested Stock Rights (as defined above) shall become fully vested as of the effective date of such termination of employment described in Section 3(a), and (2) the Executive shall continue to receive for a period of twelve (12) months following the effective date of such termination of employment described in Section 3(a) continued payment of the greater of the Executive's base salary in effect immediately prior to (i) such termination or (ii) the closing date of the transaction giving... rise to a Change of Control. In addition, the Executive shall have the right to convert his health insurance benefits to individual coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA") and any analogous provisions of applicable state law. Should the Executive so elect, the Company shall reimburse the Executive for twelve (12) months of such health care coverage following the effective date of such termination of employment described in Section 3(a). View More Arrow
Found in XENOPORT INC contract
Termination Benefits. (1) all unvested Stock Rights (as defined above) shall become fully vested as of the effective date of such termination of employment described in Section 3(a), and 3(a); (2) the Executive shall continue to receive for a period of twelve (12) months following the effective date of such termination of employment described in Section 3(a) continued payment of the greater of the Executive's base salary in effect immediately prior to (i) such termination or (ii) the closing date of the transaction... giving rise to a Change of Control. Control; and (3) assuming that the Executive was receiving housing assistance benefits as set forth in Section 6(b)(ii) of the Offer Letter at the time of the closing date of the transaction giving rise to a Change of Control, then the Executive shall continue to receive such housing assistance benefits as set forth in Section 6(b)(ii) of the Offer Letter. In addition, the Executive shall have the right to convert continue his health insurance benefits to individual coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA") and any analogous provisions of applicable state law. Should the Executive so elect, the Company shall reimburse the Executive for twelve (12) months of such health care coverage following the effective date of such termination of employment described in Section 3(a). View More Arrow
Found in XENOPORT INC contract
Termination Benefits. (1) all unvested Stock Rights (as defined above) shall become fully vested as of the effective date of such termination of employment described in Section 3(a), 3(a) or Section 3(b), as the case may be, and (2) the Executive shall continue to receive for a period of twelve (12) months following the effective date of such termination of employment described in Section 3(a) or Section 3(b), as the case may be, continued payment of the greater of the Executive's base salary in effect immediately... prior to (i) such termination or (ii) the closing date of the transaction giving rise to a Change of Control. In addition, the Executive shall have the right to convert his health insurance benefits to individual coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA") and any analogous provisions of applicable state law. COBRA. Should the Executive so elect, the Company shall reimburse the Executive for twelve (12) months of such health care coverage following the effective date of such termination of employment described in Section 3(a). coverage. View More Arrow
Found in XENOPORT INC contract
Termination Benefits. (1) all unvested Stock Rights (as defined above) shall become fully vested as of the effective date of such termination of employment described in Section 3(a), 3(a) or Section 3(b), as the case may be, and (2) the Executive shall continue to receive for a period of twelve (12) months following the effective date of such termination of employment described in Section 3(a) or Section 3(b), as the case may be, continued payment of the greater of the Executive's base salary in effect immediately... prior to (i) such termination or (ii) the closing date of the transaction giving rise to a Change of Control. In addition, the Executive shall have the right to convert his health insurance benefits to individual coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA") and any analogous provisions of applicable state law. COBRA. Should the Executive so elect, the Company shall reimburse the Executive for twelve (12) months of such health care coverage following the effective date of such termination of employment described in Section 3(a). View More Arrow
Found in XENOPORT INC contract
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Termination Benefits. Those benefits described in Sections 3 and 6 of this Agreement.
Found in H.B. Fuller Company contract
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