Aggregate Severance Amount definition

Aggregate Severance Amount means the amount equal to twelve (12) multiplied by the highest monthly base salary paid or payable to the Executive by the Company during the twelve-month period immediately preceding the month in which the date the Executive ceases to be employed by the Company occurs.
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Aggregate Severance Amount shall have the meaning set forth in Section 5.1(e) of this Agreement.
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Aggregate Severance Amount means the aggregate payments that Seller will be required to pay under the Seller Severance Plan or pursuant to Applicable Law, including the WARN Act or similar Applicable Law, (without giving effect to any terminations of (x) employees of Seller and its Subsidiaries other than the Business Employees or (y) any terminations of Business Employees prior to the Closing) to Business Employees who do not receive Comparable Offers, assuming the termination of all such Business Employees by Seller within the later of (such later date, the “Indemnifiable Termination Deadline”) (A) five (5) Business Days after the Closing or (B) such minimum longer time, if any, as required by the Seller Severance Plan or required by Applicable Law (including the WARN Act) applicable to such Business Employee; provided that such amounts shall exclude (a) any “Additional Payment” payable pursuant to Section II.D of the Seller Severance Plan and (b) any severance benefits payable pursuant to the Seller Severance Plan in amounts greater than the guideline amounts set forth in Section II of the Seller Severance Plan.
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Examples of Aggregate Severance Amount in a sentence

  • If the Carried Amount exceeds the Aggregate Severance Amount prior to the commencement of payment of any of the severance benefits described in Section 8.02(a) or (b), as applicable, and Section 8.02(c), then Executive shall not be entitled to receive any payments pursuant to 8.02(a) or (b), as applicable, or Section 8.02(c).

  • If Yuma continues the employment of any such employee or any such employee accepts an offer to become an employee of the Yuma Companies effective immediately following the Merger Effective Time, (each such employee a “Continuing Employee”), the Company shall reduce the Company Aggregate Severance Amount by an amount commensurate with such employee’s unpaid severance benefits.

  • If the Carried Amount exceeds the Aggregate Severance Amount prior to the commencement of payment of any of the severance benefits described in Section 6.02(a) or (b), as applicable, and Section 6.02(c), then Executive shall not be entitled to receive any payments pursuant to 6.02(a) or (b), as applicable, or Section 6.02(c).

  • If the Carried Amount exceeds the Aggregate Severance Amount prior to the commencement of payment of any of the severance benefits described in Section 8.02(a) or (b), as applicable, and Section 8.02(c), then Employee shall not be entitled to receive any payments pursuant to 8.02(a) or (b), as applicable, or Section 8.02(c).

  • Not less than two (2) Business Days prior to the Closing Date, Seller shall prepare and deliver to Buyer Seller’s calculation of the Aggregate Severance Amount (the “Closing Aggregate Severance Amount”).

  • Upon the expiration of the Examination Period, if no Payment Dispute Notice has been provided by Buyer during the Examination Period, or if all provided Payment Dispute Notice(s) have been withdrawn by Buyer, then the calculation of the Closing Aggregate Severance Amount pursuant to Section 2.07(a) above and the calculation of the Estimated Closing Working Capital provided pursuant to Section 2.07(b) above shall be deemed accepted by Buyer.

  • The Purchase Price shall be increased dollar for dollar by the amount of the Closing Aggregate Severance Amount.

  • The Company Reimbursement Amount will represent a percentage of the Aggregate Severance Amount equal to the Company Reimbursement Amount divided by the Aggregate Severance Amount (the “Company Reimbursement Percentage”).

  • However, if upon the expiration of the Examination Period, one or more Payment Dispute Notice(s) has or have been delivered and not withdrawn, then, for a period of twenty (20) Business Days following the end of the Examination Period (the “Negotiation Period”), Buyer and Seller shall negotiate in good faith to attempt to agree on the calculation of the Aggregate Severance Amount and/or Closing Working Capital, as applicable.

Related to Aggregate Severance Amount

  • Severance Amount means (A) for any Termination other than during a Covered Period, an amount equal to one hundred percent (100%) of Executive’s then-current Annual Base Salary as of the respective Termination; or (B) for a Termination during a Covered Period, an amount equal to two hundred percent (200%) of Executive’s Base Compensation as of the respective Termination.

  • Retention Amount means, in relation to any Retention Date, such sum as shall be the aggregate of:

  • Change in Control Payments means any amounts payable by the Company, the Final Surviving Corporation or their Subsidiaries at or at any time after the Closing (or, to the extent such amounts are unpaid as of immediately prior to the Closing, at any time prior to the Closing) as a result of the execution and delivery of this Agreement or the consummation of the First Merger (whether or not conditioned upon a related or concurrent or subsequent termination of employment or the occurrence of any other event), plus the employer’s share of Taxes payable with respect to all such amounts.

  • Change in Control Payment means any payment or distribution by the Corporation in the nature of compensation (within the meaning of Section 280G(b)(2) of the Code) to or for the benefit of Executive that is contingent on a Change in Control, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise.

  • Aggregate Payments means, with respect to a Contributing Guarantor as of any date of determination, an amount equal to (1) the aggregate amount of all payments and distributions made on or before such date by such Contributing Guarantor in respect of this Guaranty (including in respect of this Section 7.2), minus (2) the aggregate amount of all payments received on or before such date by such Contributing Guarantor from the other Contributing Guarantors as contributions under this Section 7.2. The amounts payable as contributions hereunder shall be determined as of the date on which the related payment or distribution is made by the applicable Funding Guarantor. The allocation among Contributing Guarantors of their obligations as set forth in this Section 7.2 shall not be construed in any way to limit the liability of any Contributing Guarantor hereunder. Each Guarantor is a third party beneficiary to the contribution agreement set forth in this Section 7.2.