General Severance Period definition

General Severance Period means the period of time designated in Section 4(b) herein.
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General Severance Period means, for a particular Participant, the period commencing on the Participant's Effective Date of Termination and continuing for one month for every year of service with the Company, subject to a minimum General Severance Period of 12 months.
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General Severance Period means, for a particular Participant, the period commencing on the Participant’s Effective Date of Termination and continuing for one month for every year of service with the Company, subject to a minimum General Severance Period of 12 months. The maximum benefit for Tier I executives shall be capped at 24 months and for Tier II executives at 18 months.
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Examples of General Severance Period in a sentence

  • Without the prior written consent of the Company, during the Term of this Agreement and during the General Severance Period (as set forth in Section 6.5 hereof), Executive shall not engage directly or indirectly (whether as an employee, investor, officer, director, partner, member, manager, shareholder, lender, consultant or otherwise), in any business or enterprise that is “in competition” (as defined in Section 10.1 of the Severance Plan) with the Company or its successors or assigns.

  • For Tier II Executives: A continuation of the welfare benefits of medical insurance, dental insurance, and group term life through the earlier of (1) the end of the General Severance Period or (2) until the participant obtains eligibility of welfare benefits from a subsequent employer.

  • A continuation of the welfare benefits of medical, dental and vision insurance, and group term life through the earlier of (1) the end of the General Severance Period or (2) until the participant obtains eligibility of welfare benefits from a subsequent employer Benefits provided under this Section 4.3(d) shall be provided to Participants at the same premium cost, and at the same coverage level, as in effect as of the Participant’s Effective Date of Termination.

  • A continuation of the welfare benefits of medical insurance, dental insurance, and group term life through the earlier of (1) the end of the General Severance Period or (2) until the participant obtains eligibility of welfare benefits from a subsequent employer.

  • Any General Severance Allowance will be paid in equal monthly installments, less all applicable withholding taxes, over the Eligible Officer’s General Severance Period as determined in accordance with the following table: The installment payments will commence on the sixtieth (60) day following the Termination Date provided the terminated Eligible Officer has timely executed and not revoked the Agreement required under Section 5 of this Plan.

  • The term "Severance Covered Period" shall mean a period of time commencing upon the effective date of this Agreement and ending on the last day of the Change in Control Severance Period or General Severance Period, as applicable.

  • A continuation of the welfare benefits of medical insurance, dental insurance, and group term life insurance through the end of the General Severance Period.

  • Any expense associated with the continuation of any health care coverage beyond the Former Employee’s General Severance Period will be the sole responsibility of the Former Employee.

  • Continued regular payments of the Participant's Base Salary, at the highest annual rate in effect at any time up to and including the Effective Date of Termination, through the end of the General Severance Period; In the event a Participant obtains subsequent employment during the General Severance Period, payments under this Section 4.3(a) shall be offset by Base Salary payments received by the Participant from his or her subsequent employer.

  • In the event the Former Employee and his family members become eligible for group health care coverage elsewhere on terms generally no less favorable to the Former Employee during the General Severance Period, the Former Employee shall provide notice to Tekelec, and Tekelec reserves the right to discontinue paying for such coverage under Tekelec’s group health plans.

Related to General Severance Period

  • Severance Period shall have the meaning set forth in Section 5(b).

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

  • Severance Amount means:

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

  • Qualifying Termination means a termination of Executive’s employment (i) by the Company other than for Cause or (ii) by Executive for Good Reason. Termination of Executive’s employment on account of death, Disability or Retirement shall not be treated as a Qualifying Termination.