Examples of Enhanced Severance Amount in a sentence
Where compensation is a relevant factor, the Participant’s Severance Amount (or Enhanced Severance Amount, as the case may be) shall be deemed to have been paid ratably over the period of additional service credited above and treated as “compensation” taken into account for purposes of determining the accrued retirement benefits.
In addition to the Enhanced Severance Amount, you will be entitled to receive a pro-rata AIP for the year in which your termination occurred, with such pro-rata AIP paid at the same time described above.
Notwithstanding anything in this Agreement to the contrary, if the Company concludes, that the Base Severance Amount or the Enhanced Severance Amount are subject to Section 409A of the Internal Revenue Code, then no such Severance Amount will be paid prior to your “separation from service” as defined in Treasury Regulation Section 1.409A-1(h) (applying the default rules of Treasury Regulation Section 1.409A-1(h)).
The Enhanced Severance Amount will be paid to you in installments over an 18 month period, in accordance with the Company’s normal payroll cycle, with the first installment paid during the first payroll period following the expiration of the release revocation period described below.
Xxxxxxxxx February 3, 2011 other equity not covered by clause (I) above, (III) any benefits valued as Tax Payments, (IV) any cash amounts payable to you other than the Enhanced Severance Amount and (V) the Enhanced Severance Amount (with the reduction first applied against the payment scheduled to be made the furthest from your termination date, then the next earliest, and so forth).
The Base Pay and Severance Amount or Enhanced Severance Amount shall be paid in cash in a single lump sum as soon as practicable, but in no event more than 30 days (or at such earlier date required by law) following the later of (a) the Date of Termination or (b) the expiration of any revocation period after Participant’s execution of a Separation Agreement and General Release.
The Enhanced Severance Amount will be paid to you in installments over a 18 month period, in accordance with the Company’s normal payroll cycle, with the first installment paid during the first payroll period following the expiration of the release revocation period described below.
In the event there is a Change In Control, as defined in Executive’s Employment Agreement, prior to Executive’s Separation Date, then Executive shall be entitled to receive the Enhanced Severance Amount set forth in paragraph 5(d)(iii) of Executive’s Employment Agreement.
For Transferred Employees, the Enhanced Severance Amount is calculated on an employee's base pay in effect on the date of the job elimination or termination, as follows: ANNUAL BASE PAY ENHANCED SEVERANCE AMOUNT Less than $50,000 10 weeks $50,000 to less than $100,000 20 weeks $100,000 or greater 30 weeks MERGER SUPPLEMENT For non-exempt Transferred Employees a Merger Supplement equal to an additional 4.3 weeks of base salary will be paid.
The Severance Amount or the Enhanced Severance Amount, whichever is applicable, shall be paid in a single lump sum upon the later of (a) the tenth day following the Participant’s Date of Termination and (b) the Release Effective Date.