Severance Benefit definition

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

• No interest shall be due on any amounts deferred pursuant to this Section 6.8. To the extent that any Severance Benefits are deferred compensation under Section 409A of the Code and are not otherwise exempt from the application of Section 409A, then, if the period during which Executive may consider and sign the Release spans two calendar years, the payment of any such Severance Benefit will not be made or begin until the later calendar year.

• No interest shall be due on any amounts deferred pursuant to this Section 6.8. To the extent that any Severance Benefits are deferred compensation under Section 409A of the Code, and are not otherwise exempt from the application of Section 409A, then, if the period during which Executive may consider and sign the Release spans two calendar years, the payment of any such Severance Benefit will not be made or begin until the later calendar year.

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.