Change in Control Severance Multiple definition

Change in Control Severance Multiple means the multiplier that shall be used to determine cash Separation Benefits paid to the Participant as shown on Schedule B and which is to be used if the Participant’s Separation is without Cause or – for certain Participants – for Good Reason in connection with a Change in Control.
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Change in Control Severance Multiple means (i) 2.5 for the Chief Executive Officer of TGH and (ii) two (2) for all other Participants.
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Change in Control Severance Multiple means that change in control severance multiple set forth opposite such Covered Employee’s name on Exhibit A under the column “Change in Control Severance Multiple.”
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Examples of Change in Control Severance Multiple in a sentence

  • The Covered Employee shall be entitled to receive severance pay in an amount equal to the Change in Control Severance Multiple times the Base Amount, payable in a single lump sum on the First Payment Date, except as otherwise provided in clause (g) of Exhibit C.

  • If Executive’s employment is terminated for Disability or by the Company without Cause or by Executive for Good Reason and, after such termination, Executive becomes entitled to payments based on the Change in Control Severance Multiple, Executive shall receive the payments pursuant to the Change in Control Severance Multiple, in a lump sum at the time of the Change in Control, less the amount of any payments previously paid pursuant to Sections 5(a) and 5(b) of this Agreement.

  • If so indicated on Exhibit A, the Covered Employee shall be entitled to receive additional severance pay in an amount equal to the Change in Control Severance Multiple times the Bonus Amount, payable in a single lump sum on the First Payment Date, except as otherwise provided in clause (g) of Exhibit C.(iii)Unpaid Earned Bonus.


More Definitions of Change in Control Severance Multiple

Change in Control Severance Multiple means 2.5 for Tier I Participants, 2.0 for Tier II Participants and 1.0 for Tier III Participants.
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Change in Control Severance Multiple means the following number, as applicable: (i) 2.0 with respect to the Tier I Participant, (ii) 1.0 with respect to any Tier II Participant, and (iii) 0.5 with respect to any Tier III Participant.
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Related to Change in Control Severance Multiple

  • Change in Control Severance Benefits means the benefits payable pursuant to Section 3 of this Agreement.

  • Severance Multiple means 2.50; provided, however, that notwithstanding the foregoing, for each full month that elapses during the period beginning on the date the Executive attains age 63 and ending on the date the Executive attains age 65, the Severance Multiple shall be reduced by an amount equal to the product of (i) 1/24 and (ii) the excess of (A) the original Severance Multiple set forth above over (B) 1.0 (rounded to the nearest hundredth).

  • Change in Control Benefits means the following benefits:

  • Change in Control Date means the date on which a Change in Control occurs.

  • Section 409A Change in Control means a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the Company’s assets, as provided in Section 409A(a)(2)(A)(v) of the Code and Treasury Regulations Section 1.409A-3(i)(5) (without regard to any alternative definition thereunder).

  • Change in Control Period means the period beginning three (3) months prior to a Change in Control and ending twelve (12) months following a Change in Control.

  • Severance Amount means:

  • Change in Control Termination means an “Involuntary Termination Without Cause” or “Resignation for Good Reason,” either of which occurs on, or within three (3) months prior to, or within twelve (12) months following, the effective date of a Change in Control, provided that any such termination is a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h). Death and disability shall not be deemed Change in Control Terminations.

  • Change in Control Price means the highest price per share of Stock offered in conjunction with any transaction resulting in a Change in Control (as determined in good faith by the Committee if any part of the offered price is payable other than in cash) or, in the case of a Change in Control occurring solely by reason of a change in the composition of the Board, the highest Fair Market Value of the Stock on any of the 30 trading days immediately preceding the date on which a Change in Control occurs.

  • Change in Control means the occurrence of any of the following events:

  • Change in Control Event means any of the following:

  • 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.

  • Qualifying Termination means a termination of the Executive’s employment either (i) by a Company Group member without Cause (excluding by reason of Executive’s death or Disability) or (ii) by the Executive for Good Reason, in either case, during the Change in Control Period (a “Qualifying CIC Termination”) or outside of the Change in Control Period (a “Qualifying Non-CIC Termination”).