Cash Severance Payment definition

Cash Severance Payment means a lump sum cash payment in an amount equal to the product of (x) the Participant’s Benefits Multiple, and (y) the sum of (i) the Participant’s annual base salary as in effect immediately prior to the Date of Termination or, if higher, as in effect immediately prior to the Change of Control, plus (ii) the Participant’s targeted annual bonus for the year in which such Date of Termination occurs (determined as the product of the Participant’s annual base salary and the Participant’s target annual bonus percentage, each as in effect immediately prior to the Date of Termination or, if higher, as in effect immediately prior to the Change of Control).
View Source
Cash Severance Payment has the meaning assigned thereto in Section 5(a)(ii)(A) hereof.
View Source
Cash Severance Payment means the cash payment of severance compensation as provided in Section 4.2.
View Source

Examples of Cash Severance Payment in a sentence

  • The Cash Severance Payment shall be made, and the continuing health insurance coverage shall commence, promptly after the Release becomes irrevocable; provided that to the extent the 60-day period spans two calendar years and to the extent required to comply with Code Section 409A, such payments shall be made or commence, as applicable, on the 60th day following the Date of Termination.

  • To the extent the Executive’s CIC Termination is described in Section 9(e)(i)(B) and the Change in Control is a Qualifying CIC, the incremental Cash Severance Payment and any unpaid Cash Severance Payment shall be paid in a lump sum.

  • The Full Cash Severance Payment shall be paid within 75 days following the Termination Date; provided that, if the Release Execution Period begins in one taxable year and ends in another taxable year, payment shall not be made until the beginning of the second taxable year.

  • The Cash Severance Payment shall be made, and the Monthly Payments shall commence, promptly after the Release becomes irrevocable; provided that to the extent required by Code Section 409A, such payments shall be made or commence, as applicable, on the 60th day following the Date of Termination and in the case of the Monthly Payments, shall include all payments that otherwise would have been made before such date.

  • Such payment shall be made at the same time as the Cash Severance Payment under Section 3.01(a) above.

  • The Total Payments which constitute “parachute payments” within the meaning of Code Section 280G and its regulations shall be reduced in the following order: (A) reduction of any cash severance payments otherwise payable to the Executive, including without limitation, the Cash Severance Payment and the Pro-Rata Bonus (but with respect to the Pro-Rata Bonus only that portion of the full amount which is treated as contingent on the Code Section 280G change in control pursuant to paragraph (a) of Treas.

  • Subject to Section 16 hereof, the Cash Severance Payment shall be paid in a single lump sum payment within sixty (60) days following the date of Employee’s separation from service.

  • Subject to Section 16 hereof, Employer shall pay such supplemental benefits (if any) in a lump sum at the same time as the Cash Severance Payment under Section 14.2.2(a).

  • The Year 1 Cash Severance Payment shall be paid within 75 days following the Termination Date; provided that, if the Release Execution Period begins in one taxable year and ends in another taxable year, payment shall not be made until the beginning of the second taxable year.

  • The Cash Severance Payment shall be made on the fifteenth day of each of the twenty-four (24) months immediately following the month in which the Effective Date of Termination occurs or (if later) the month in which the date of the Executive’s “separation from service” with the Company (as such term is defined in Treasury Regulations issued under Code Section 409(A) occurs.


More Definitions of Cash Severance Payment

Cash Severance Payment shall be defined as set forth in Section 6.3.
View Source
Cash Severance Payment means, for a Covered Employee, an amount equal to the Severance Multiple times the sum of (i) such Covered Employee’s Monthly Base Pay and (ii) such Covered Employee’s Monthly Target Bonus.
View Source
Cash Severance Payment has the meaning accorded such term in Section 3.02(b)(i).
View Source