Our work extends the review of contractual termination benefits
highlighted by The Australian Financial Review (58) by undertaking a more detailed analysis of the contractual provisions featured in that article.
94-3, "Liability Recognition for Certain Employee Termination Benefits
and Other Costs to Exit and Activity (including Certain Costs Incurred in a Restructuring).
In addition, SFAS 146 points out that the recognition guidance in 1AS 37 is similar to that previously included in EITF Issue 94-3 for exit costs, with the exception of employee termination benefits
Standards of Governmental Accounting and Financial Reporting/3-21 Scope and Applicability of This Statement/3-7 Measurement and Recognition of Termination Benefits
/8-17 Measurement/9-11 Healthcare-Related Termination Benefits
/9 Non-Healthcare-Related Termination Benefits
/10-11 Recognition of Termination Benefit
Liabilities and Expense in Accrual Basis Financial Statements/12-15 Recognition of Termination Benefit
Liabilities and Expenditures in Modified Accrual Basis Financial Statements/16 Effects of a Termination Benefit
on an Employer's Defined Benefit Pension or Other Postemployment Benefit Obligations/17
Smith 50 percent of his earned termination benefit
of $1,200 per month ($600 per month).
EMPLOYEE TERMINATION BENEFIT
PLAN WITH INCREMENTAL VOLUNTARY TERMINATION BENEFITS
provided to current employees that are involuntarily terminated under the terms of a benefit arrangement that, in substance, is not an ongoing benefit arrangement or an individual deferred compensation contract (hereinafter referred to as one-time termination benefits
The decrease in loss from continuing operations is due primarily to a decrease in operating expenses and recognition of the lease termination benefit
Fourth quarter 2007 EBITDA includes a gain of $94 million associated with the merger termination benefit
as well as foreign currency transaction gains of $17 million.
C) Other services: The task will also include transition of the output from current supplier and termination benefits
for the transfer to the new supplier when the contract ends.
The company "expects to incur incremental cash expenditures of approximately $25 million relating to termination benefits
, facility costs, employee overlap expenses and related actions.
The costs associated with the plan, the majority of which are expected to be incurred between fiscal years 2016 and 2018, will primarily consist of a reduction in headcount through reorganisation and integration, including severance and termination benefits
for employees, are expected to be approximately USD 11m to USD 13m.