Employee Severance Payment definition

Employee Severance Payment means, in addition to the salary and benefits due Employee during the Initial Term or the Renewal Term, one (1) additional year of salary and benefits at the then rate prevailing rate for the year in which Employee's employment is terminated by Employer without "Cause;"
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Employee Severance Payment means any amount payable to any employee of the Company pursuant to a Post-Signing Employee Severance Agreement.
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Employee Severance Payment means a Severance Payment, as defined in an Employee Severance Agreement;
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Examples of Employee Severance Payment in a sentence

  • The benefits provided under this Agreement shall be in lieu of, and in complete satisfaction of any rights pursuant to, the Bank’s Employee Severance Payment and Benefits Policy in the event of a Change in Control.

  • Subject to the Excluded Employee Severance Payment Indemnity, the Purchaser and Glacier shall indemnify and hold harmless the Vendor from and against any and all losses, damages, liability, costs or expenses directly or indirectly suffered by the Vendor resulting from any breach of the Purchaser's or Glacier's obligations and liabilities under this Section 4.09.

  • Notwithstanding the foregoing, if the Board (or its delegate) determines in its discretion that payments due under this Section 8(c)(ii) are “nonqualified deferred compensation” subject to Section 409A of the Code and that Executive is a “specified employee” as defined in Section 409A(a)(2)(B)(i) of the Code and the regulations and other guidance issued thereunder, then such payments shall commence on the Specified Employee Severance Payment Date.

  • In addition to any other indemnification by the Vendor contained in this Agreement, the Vendor, shall, if the Closing occurs, indemnify, defend and save harmless the Purchaser, effective as of and from the Time of Closing, from and against Losses suffered or incurred by the Purchaser as a result of Excluded Employee Severance Payments (the "Excluded Employee Severance Payment Indemnity"), following which the Purchaser shall have no right to claim, and the Vendor shall have no liability, thereunder.