Employee Severance Costs definition

Employee Severance Costs means notice of termination, termination pay, severance pay and other costs, liabilities and obligations arising in connection with the termination of employment of any Employee, whether due under contract, statute, common law or otherwise relating to the Employees, but excludes Accrued Employee Liabilities, and Liabilities relating to allegations of bad faith or tortious or other inappropriate behaviour by Seller in respect of the termination of any Employee’s employment.
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Examples of Employee Severance Costs in a sentence

  • Table 4 – Net Employee Severance Costs 2017/18 ServiceBudget 2017/18£’000Outturn 2017/18£’000 Employee severance costs for 2017/18 total £1.108 million equating to a budget saving of £197,000 against the original budget of £1.305 million.

  • A net budget surplus of £777,000 is reported for Employee Severance Costs as indicated in Table 4.

  • They feel a sense of inferiority and inadequacy, and it is difficult for them to receive continuous education for career development, which is causing stressors.

  • The amount of the Peruvian Employee Severance Costs (up to the US$500,000, as described above), if any, a shall be charged solely against the amount from time to time of the Deferred Purchase Price.

  • As discussed in evidence, each of the four heads of Disputed Costs that NUL is seeking to obtain from the Town – Long Term Debt Break Fees, Employee Severance Costs, Costs Related to the Segregation of Assets, and Legal & Consultant Fees2 – are costs which NUL already sought to obtain from the Town at the second arbitration proceeding which took place in late 2021.

  • The Town reserves the right to accept the Proposal which, in its judgment, is the proposal most advantageous to the Townand to waive irregularities and informalities in any proposal.

  • No claim for indemnification pursuant hereto shall be entitled to be made for any Damages or Employee Severance Costs relating thereto unless a notice of such claim shall have been given to the Seller in accordance with Section 9.3 hereof prior to the first anniversary of the Closing Date.

Related to Employee Severance Costs

  • 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.

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

  • 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)

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

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

  • 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.

  • Executive Severance Plan means the Company’s Senior Executive Employee Severance Pay Plan, as in effect from time to time.

  • Accrued Compensation means an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay and (iv) bonuses and incentive compensation (other than the "Pro Rata Bonus" (as hereinafter defined)).

  • Severance Amount means:

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Employment Taxes means all fees, Taxes, social insurance payments or similar contributions to a fund of a Governmental Authority with respect to wages or other compensation of an employee or other service provider.

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

  • Change in Control Benefits means the following benefits:

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

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

  • Severance Date means the date on which an Executive incurs a Severance, which shall be the date of termination as determined under Section 5.2.

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

  • Compensation Accrued at Termination means the following:

  • Nonqualifying Termination means a termination of the Executive’s employment (1) by the Company for Cause, (2) by the Executive for any reason other than a Good Reason, (3) as a result of the Executive’s death or (4) by the Company due to the Executive’s absence from his duties with the Company on a full-time basis for at least 180 consecutive days as a result of the Executive’s incapacity due to physical or mental illness.

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

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • Contingent Compensation Payment means any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company.

  • Employment benefits means all benefits provided or made

  • Retention Bonus means the amount equal to:

  • Leave Salary means the monthly amount paid by the University to an employee who is on leave.

  • Severance Term means the six (6) month period following Employee’s termination by the Company without Just Cause (other than by reason of death or Disability) or by Employee for Good Reason; provided, that if such termination occurs within twelve (12) months following a Change in Control, the Severance Term shall be the twelve (12) month period following such termination.