Severance Pay definition

Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

Severance Pay means the payment determined pursuant to Section 2.1 hereof.

Severance Pay means the amounts payable as set forth in Section 5(a).

Examples of Severance Pay in a sentence

• If the Company and/or any of its Subsidiaries choose to make such an offer of Severance Pay, they may, in their discretion, condition the Employee’s receipt of Severance Pay on the Employee’s execution of a release of claims against the Company and/or any of its Subsidiaries.

• If Employee is rehired by Company or employed by or performing services in any capacity or business during any Severance Pay Period, the Severance Payments shall cease.

• In the event Employee is terminated without Cause, the Company Severance Pay Plan will apply.

• The First Severance Pay and Second Severance Pay will be paid by direct deposit to the account you have previously designated for paychecks or another account you designate in writing.

• The Company will contact you to coordinate the return of any company property you may possess; however, the Second Severance Pay will not be due until you have returned all Company property.

More Definitions of Severance Pay

Severance Pay means the amount, if any, payable under Section 4 of the Plan to an Eligible Employee.

Severance Pay means compensation in addition to regular salaries and wages that is paid by a school to an employee whose employment is being terminated.

Severance Pay has the meaning set forth in Section 6(b)(i).

Severance Pay means the sum payable as set forth in Section 3.1 of the Plan.

Severance Pay means the sum payable to a Covered Employee upon Termination of Employment as set forth in Section 3.1 of the Plan.

Severance Pay shall only mean the Executive's base salary at the Severance Rate.

Severance Pay means Severance Allowance as provided in Section 3(a) and Exhibit A plus Alternate AIP Award or Alternate SIP Award, as applicable, as provided in Section 3(c) and (d).