Executive Severance Payments definition

Executive Severance Payments shall have the meaning set forth in Section 1.8 of this Agreement.
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Executive Severance Payments means, with respect to each Person identified on Schedule 6.10, all severance payments required to be paid to such Person upon termination of 58 such Person's employment with the Company and its Subsidiaries, whether pursuant to a written employment agreement with the Company or any of its Subsidiaries or otherwise.
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Examples of Executive Severance Payments in a sentence

  • Any obligation of the Company to provide Executive Severance Payments shall be conditioned upon Executive’s signing a general release of claims in the form provided by the Company; provided that no payment shall be required to be made unless and until Executive executes, delivers and does not revoke such release (all before the 30th calendar day after termination of employment) and that Severance Payment shall be made on the 31st day following such event.

  • The Severance Period shall begin immediately upon the effective date of a termination and the Company shall owe Executive Severance Payments in accordance with Section 3(d).

  • All other Employee Benefits, if any, due Executive following Executive's termination shall be continued subject to the terms of the applicable plans, policies and practices of the Company; PROVIDED, HOWEVER, that Executive shall not participate in any other salary severance plan, policy or program of the Company (collectively the "Executive Severance Payments").

  • At the Closing, the Buyer shall assume and become responsible for payment of any severance or other similar compensation and benefits under the executive employment agreements set forth on Schedule 1.8 (the "Executive Employment Agreements") up to $1,400,000, which shall paid to the employees under the Executive Employment Agreements within thirty (30) days after the Closing and which shall be funded out of the Plan Escrow Amount (the "Executive Severance Payments").

  • At the Closing, the Buyer shall assume and become responsible for payment of any severance or other similar compensation and benefits under the executive employment agreements set forth on Schedule 1.8 (the "Executive Employment Agreements") up to $1,400,000, which shall be paid to the employees under the Executive Employment Agreements within thirty (30) days after the Closing and which shall be funded out of the Plan Escrow Amount (the "Executive Severance Payments").

  • All other benefits, if any, due Executive following Executive's termination shall be determined in accordance with the plans, policies and practices of the Company; provided, however, that Executive shall not participate in any other salary severance plan, policy or program of the Company (collectively the "Executive Severance Payments").

  • Severance pay will be in an amount calculated pursuant to the Plan equal to the sum of (i) one (1) times my current base salary and (ii) one (1) times my current target bonus under the CSX Management Incentive Compensation Plan in effect for 2023 (the "2023 MICP"), in each case as set forth on the ·'Individual Statement of Executive Severance Payments" attached and incorporated as "Exhibit 1" to this Agreement.

  • If Executive's employment terminates prior to December 31, 2008 pursuant to Section 6(a)(iv) or (v), the Company shall pay Executive Severance Payments in accordance with this Section 6(c)(ii); provided that Executive first executes an irrevocable general release on a form provided by the Company.

Related to Executive Severance Payments

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

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

  • 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.

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

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

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

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

  • Change in Control Benefits means the following benefits:

  • Severance Amount means:

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

  • Employment benefits means all benefits provided or made

  • 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)).

  • Retention Bonus means the amount equal to:

  • 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 Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive's employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company and its Affiliates for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained; and (v) all other payments and benefits to which the Executive (or in the event of the Executive's death, the Executive's surviving spouse or other beneficiary) may be entitled as compensatory fringe benefits or under the terms of any benefit plan of the Employer, including severance payments under the Employer's severance policies and practices in the form most favorable to the Executive that were in effect at any time during the 180-day period prior to the Effective Date. Payment of Accrued Benefits shall be made promptly in accordance with the Employer's prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits.

  • 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 Term means the twenty-four (24) month period following Executive’s termination by the Company without Cause (other than by reason of death or Disability) or by Executive for Good Reason.

  • Compensation Accrued at Termination means the following:

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

  • 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).

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

  • Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.

  • 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.