CIC Severance Amount definition

CIC Severance Amount means an amount equal to the sum of:
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CIC Severance Amount means the difference, if any, of (i) the aggregate value of all amounts payable by the Company or any of its Subsidiaries (including the employer portion of any withholding, payroll, social security, unemployment or other Taxes associated therewith) under the express contractual terms of any retention, change of control, incentive, termination, compensation, severance or similar contractual obligation, whether written or oral, to which the Company or any
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CIC Severance Amount means the difference, if any, of (i) the aggregate value of all amounts payable by the Company or any of its Subsidiaries (including the employer portion of any withholding, payroll, social security, unemployment or other Taxes associated therewith) under the express contractual terms of any retention, change of control, incentive, termination, compensation, severance or similar contractual obligation, whether written or oral, to which the Company or any of its Subsidiaries is party and which is in effect immediately prior to the Closing (including any amounts payable by the Company or any of its Subsidiaries pursuant to or as a result of the plan described in Item 1 of Section (k) of the Developments Schedule), in each case, which are contingent upon, triggered or accelerated by, or otherwise become payable in connection with or as a result of (A) the transactions contemplated by this Agreement or the other Transaction Documents or (B) the termination of employment of any Company Service Provider, which are not paid prior to Closing, excluding any amounts payable pursuant to Section 11.03(c), minus (ii) $18,600,000. For the avoidance of doubt, in no event shall any Retention Pool Bonuses be included in the calculation of the CIC/Severance Amount.
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Examples of CIC Severance Amount in a sentence

  • For any Participant whose Separation from Service occurs before a Change in Control under circumstances constituting a Pre-CIC Termination, any CIC Severance Amount payable under this Plan is reduced by amounts previously paid with respect to Base Salary and annual short term incentive compensation under an Employment Agreement or Separation Plan to the Participant for any period after the Separation from Service.

  • The CIC Severance Amount is payable on (x) the Executive’s Separation from Service date; or (y) for a Pre-CIC Termination, the closing date of the 409A CIC, except that if the Release Consideration and Revocation Period ends on or after December 15 of the calendar year in which the Participant incurs a Separation from Service, the CIC Severance Amount is payable on the first business day in the following calendar year.

  • If advantage is to be taken of the opportunities which GBS offers for strategic dialogue on environmental issues, then Development Partners need to be well geared up for these processes.

  • Such payment shall be made, in the case of a Termination of Employment during the Limited Period, in accordance with the provisions governing payment of the Severance Amount or CIC Severance Amount under Section 4.1(c), and in the case of a Termination of Employment other than during the Limited Period, in the year following the year in which the Termination Date occurs but no later than March 15th of such year.

  • If the Change in Control is a “change in control event” as defined under Section 409A, (I) the CIC Severance Amount shall be paid in a lump sum within sixty (60) days following the Termination Date; and (II) the CIC Medical Benefit Payment shall be paid in a lump sum within sixty (60) days following the Termination Date.

  • In the event that any payment or benefit intended to be provided hereunder is required to be reduced pursuant to this Section, then the reduction shall occur in the following order: (a) reduction of the portion of the CIC Severance Amount described under Section 1.4(a); (b) reduction of the portion of the CIC Severance Amount described under Section 1.4(b); and (c) reduction of the cash reimbursements described in Section 4.6(a).

  • The New Mexico Coalition of Public Safety Officers, and Santa Fe County Deputy Sheriff’s Association, filed a Prohibited Practices Complaint on December 9, 2021 alleging the County bargained in bad faith by unilaterally implementing its own proposal regarding the Revised Mandatory Vaccination Policy and that by refusing to proceed to mediation and binding arbitration the County violated PEBA’s impasse resolution procedures.

  • Subject to Section 19 of this Agreement, such payment shall be made, in the case of a Termination of Employment during the Limited Period, in accordance with the provisions governing payment of the Severance Amount or CIC Severance Amount under Section 4.1(c), and in the case of a Termination of Employment other than during the Limited Period, in the year following the year in which the Termination Date occurs but no later than March 15th of such year.

  • In the event that your name is not listed on Schedule B at the time of a Change in Control, you shall not be eligible for any CIC Severance Amount and otherwise shall not be eligible for any payments or benefits under Article II.B. of the Plan, except to the extent specifically provided in Article II.B.3. and Schedule C.

  • Payment of the Severance Amount and the other benefits described in Sections 5(b)(ii) through 5(b)(v), payment of the CIC Severance Amount and the other benefits described in and Sections 5(e)(ii) through 5(e)(iv), as applicable, shall be conditioned upon the Executive’s ongoing compliance with the obligations set forth in Section 6.


More Definitions of CIC Severance Amount

CIC Severance Amount means, with respect to a Level 1 Executive, an amount equal to the sum of (i) the product of (A) 2.0 and (B) the sum of such Level 1 Executive’s (I) Base Salary and (II) Target Annual Bonus and (ii) such Level 1 Executive’s Pro-Rata Target Bonus.
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CIC Severance Amount means, with respect to an Eligible Executive, an amount equal to the product of (i) the Applicable CIC Severance Multiple and (ii) the sum of such Eligible Executive’s (A) Base Salary and (B) Target Annual Bonus.
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CIC Severance Amount means 2.99 multiplied by the sum of (A) your Base Salary plus (B) your Applicable Bonus Amount.
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Related to CIC Severance Amount

  • Severance Amount means:

  • Severance Payment means any amount paid by a board to or in behalf of a superintendent on early termination of the superinten- dent’s contract that exceeds the amount earned by the superinten- dent under the contract as of the date of termination, including any amount that exceeds the amount of earned standard salary and benefits that is paid as a condition of early termination of the con- tract. Payments to a former superintendent who remains employed by a district in another capacity or contracts with a district to pro- vide the district services may be severance payments in whole or in part if the payments are compensation for the early termination of a prior employment agreement. Severance payments include any payment for actual or threatened litigation involving or related to the employment contract. Education Code 11.201(c); 19 TAC 105.1021(a)(1)

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

  • Severance Payments shall have the meaning set forth in Section 6.1 hereof.

  • 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.

  • Change in Control Benefit means the benefit described in Section 2.4.

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Change in Control Benefits means the following benefits:

  • Change in Control Payments means all change in control, transaction, retention and similar bonuses or payments, paid or payable by the Acquired Companies to any current or former directors, managers, officers, employees, or other Persons as a result of the Closing of the Transactions or the execution of this Agreement, including any deferred compensation, in each instance, plus the employer portion of any employment Taxes due in connection with any such payments, but excluding, for the avoidance of doubt, severance payments relating to a termination of employment following the Closing.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Change in Control Payment shall have the meaning stated in Section 6.4 hereof.

  • Severance Benefits mean the payment of severance compensation as provided in Section 2.3 herein.

  • Accrued Obligation means the sum of (x) the Executive's Annual Base Salary through the Date of Termination for periods through but not following his Separation From Service and (y) any accrued vacation pay earned by the Executive subject to any applicable Company policies on carryover of accrued vacation pay, and in each case, to the extent not theretofore paid.

  • Accrued Amount has the meaning set forth in Section 3.1(b) of this Agreement.

  • Severance Costs means the costs which the employers are legally obliged to pay to or in respect of the Crew as a result of the early termination of any employment contract for service on the Vessel.

  • Accrued Obligations are (i) Executive’s accrued but unpaid salary through the date of termination, (ii) any unreimbursed business expenses incurred by Executive payable in accordance with the Company’s standard expense reimbursement policies, and (iii) benefits owed to Executive under any qualified retirement plan or health and welfare benefit plan in which Executive was a participant in accordance with applicable law and the provisions of such plan.

  • 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).

  • Retention Bonus means the amount equal to:

  • Accrued Bonus means the bonus, which may be negative or positive, which is calculated in the manner set forth in Section V.A.

  • Severance Period means the period of time commencing on the date of an occurrence of a Change of Control and continuing until the earlier of (i) the date which is one and one-half years following the occurrence of the Change of Control, and (ii) the Executive's death.

  • Severance Multiplier means, with respect to any termination of Employee’s employment hereunder by the Company without Cause or by Employee with Good Reason, 1; provided, however, that in the event such termination occurs within the two (2) year period following a Change in Control, the Severance Multiplier shall instead equal 2.

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

  • Separation Payment means any lump sum cash payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.

  • Termination Benefit means the benefit set forth in Article 7.

  • Accrued Amounts means: