Employee Severance Payments definition

Employee Severance Payments means all payments payable to Employee under Sections 6.1 and 6.2 hereof.
Sample 1
Employee Severance Payments means all payments described in Section 5.11(d).
Sample 1

Examples of Employee Severance Payments in a sentence

  • If the Employee is terminated without Cause during any one-year extension of the initial term of the Agreement, then the Company shall continue to pay to Employee Severance Payments in accordance with its customary payroll practices for a period of twelve months after termination of such employment.

  • Employee Severance Payments: The Company explained that it operates under a business model to lower costs through increased efficiencies.

  • The Company shall deliver to Buyer not less than three (3) Business Days prior to the Closing Date a statement of Employee Severance Payments, in form and substance reasonably satisfactory to Parent, which shall be certified as true, complete and correct by the Chief Executive Officer and Chief Financial Officer of the Company (the “Statement of Employee Severance Amounts”) pursuant to an Officer Certification.

  • Schedule 5.2(t) also lists and describes as of December 31, 2006, the base salary, fringe benefits and perquisites of each such employee of Seller whose total current base salary exceeds or exceeded in any of the last two years $25,000 annually and the severance amount payable by Seller to each employee of Seller employed in the Business upon the termination of such employee's employment by Seller immediately prior to the Closing pursuant to Section 6.12 (the "Employee Severance Payments").

  • Defendant City of Tempe (“City”) filed its Answer on March 27, 2006.

  • Notwithstanding Section 5.01(vi), if Employee terminates Employee's employment, at Employee's option, within 3 months after a Change in Control (as defined below): Lawsxx xxxll pay Employee Severance Payments, as defined in Section 5.02(i).

  • Immediately after the Closing, Seller shall apply the Severance Contribution received from Buyer pursuant to Section 3.1 above to discharge, in part, the Employee Severance Payments and Seller shall be solely responsible for the payment of the balance of the Employee Severance Payments to its former employees.

  • To insure payment of the Employee Note and the indebtedness evidenced thereby, simultaneously herewith, Employee will sign a security agreement, in form approved by the Company (the "Security Agreement"), granting a security interest to the Company in the Employee Severance Payments and Employee Options and any shares or proceeds received upon the exercise of the Employee Options (the "Collateral").

  • Notwithstanding Section 5.01(vi), if Employee terminates Employee's employment, at Employee's option, within 3 months after a Change in Control (as defined below): (i) Lawsxx xxxll pay Employee Severance Payments, as defined in Section 5.02(i).

  • Number Exhibit 10.1 Limited Waiver to the Loan Agreement and Amendment No. 2 to Forbearance and Standstill Agreement, dated as of February 9, 2016.

Related to Employee Severance Payments

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

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

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

  • Change in Control Benefits means the following benefits:

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

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

  • Severance Amount means:

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

  • Retention Bonus means the amount equal to:

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

  • 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)).

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

  • 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).

  • Compensation Accrued at Termination means the following:

  • Employment benefits means all benefits provided or made

  • 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.

  • Severance means the complete separation and dismemberment of the part from the body.

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

  • Severance Period means the period of time commencing on the date of the first occurrence of a Change in Control and continuing until the earlier of (i) the second anniversary of the occurrence of the Change in Control and (ii) the Executive’s death.

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

  • 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 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.

  • Bonus Payments means that portion of the bonus payments received by the