Severance Benefit means the payment of severance compensation as provided in Article III.
Severance Benefit shall have the meaning set forth in Section 4.7(a)(i) herein.
Severance Benefit means the compensation and other benefits the Covered Employee will be provided pursuant to Section 4.
Examples of Severance Benefit in a sentence
The amount of severance eligibility increases with years of service, as follows: Length of Service Severance Benefit 1 – 3 years 2 weeks’ pay with 1 month of COBRA benefits 4 – 5 years 4 weeks’ pay with 1 month of COBRA benefits 6 – 10 years 6 weeks’ pay with 2 months of COBRA benefits 11 years or more 8 weeks’ pay with 2 months of COBRA benefits One week’s pay shall be considered 40 hours at the employee’s current base hourly rate, not including any overtime.
More Definitions of Severance Benefit
Severance Benefit means a Salary Continuance Benefit and/or a Welfare Continuance Benefit.
Severance Benefit means the payment of severance compensation as provided in Article 3 herein.
Severance Benefit means a severance payment in an amount equal to:
Severance Benefit means the compensation and other benefits the Covered Executive will be provided pursuant to Section 3.
Severance Benefit means (i) in the case of the Executive's termination of employment that does not occur within the 12 month period following a Change in Control, two weeks' Salary plus prorated Bonus multiplied by the Executive's Years of Service, with a minimum of 26 weeks; or (ii) in the case of an Executive's termination of employment within the 12 month period following a Change in Control, two weeks' Salary plus prorated Bonus multiplied by the Executive's Years of Service, with a minimum of 78 weeks. The Executive's prorated Bonus for one week shall equal the Executive's Bonus divided by 52.
Severance Benefit means the salary continuation amounts and other benefits that a Participant is eligible to receive pursuant to Article IV of the Plan.
Severance Benefit means any post-termination benefit(s) to be paid by the Employer pursuant to Section 5(a)(ii), Section 5(b)(i), or Section 6 hereof.