Enhanced Severance Amount definition

Enhanced Severance Amount means an amount equal to two times Executive’s Annual Compensation.
View Source
Enhanced Severance Amount is defined in Section 7.1(b)(ii).
View Source

Examples of Enhanced Severance Amount in a sentence

  • In addition to the Enhanced Severance Amount, you will be entitled to receive a pro-rata AIP for the year in which your termination occurred, with such pro-rata AIP paid at the same time described above.

  • Notwithstanding anything in this Agreement to the contrary, if the Company concludes, that the Base Severance Amount or the Enhanced Severance Amount are subject to Section 409A of the Internal Revenue Code, then no such Severance Amount will be paid prior to your “separation from service” as defined in Treasury Regulation Section 1.409A-1(h) (applying the default rules of Treasury Regulation Section 1.409A-1(h)).

  • The Enhanced Severance Amount will be paid to you in installments over an 18 month period, in accordance with the Company’s normal payroll cycle, with the first installment paid during the first payroll period following the expiration of the release revocation period described below.

  • For avoidance of doubt, FY2015 EBITDA less than $603,975 will result in the payment of no Enhanced Severance Amount, and FY2015 EBITDA greater than $754,969 will result in payment of an Enhanced Severance Amount calculated as if FY2015 EBITDA had equaled $754,969 exactly.

  • In the event there is a Change In Control, as defined in Executive’s Employment Agreement, prior to Executive’s Separation Date, then Executive shall be entitled to receive the Enhanced Severance Amount set forth in paragraph 5(d)(iii) of Executive’s Employment Agreement.

  • The Enhanced Severance Amount will be paid to you in installments over a 18 month period, in accordance with the Company’s normal payroll cycle, with the first installment paid during the first payroll period following the expiration of the release revocation period described below.

  • For Transferred Employees, the Enhanced Severance Amount is calculated on an employee's base pay in effect on the date of the job elimination or termination, as follows: ANNUAL BASE PAY ENHANCED SEVERANCE AMOUNT Less than $50,000 10 weeks $50,000 to less than $100,000 20 weeks $100,000 or greater 30 weeks MERGER SUPPLEMENT For non-exempt Transferred Employees a Merger Supplement equal to an additional 4.3 weeks of base salary will be paid.