Individual Severance Agreement definition

Individual Severance Agreement means an approved, executed, written agreement between the Employer and the Participant that has not expired or been replaced prior to the termination of the Participant’s employment and that provides for specific severance for the Participant in connection with a termination of employment.
Sample 1Sample 2Sample 3
Individual Severance Agreement means an individual employment or severance agreement between the Corporation and an employee of the Corporation that provides for the payment of severance benefits in connection with such employee’s termination of employment.
Sample 1
Individual Severance Agreement means an agreement entered into by a Participant and the Company or one of the Company’s Affiliates providing for compensation during or upon termination of employment.
Sample 1

Examples of Individual Severance Agreement in a sentence

  • In order to be eligible to receive Severance Benefits under the Plan, you must consent (by signing this agreement in the space provided on the last page of this letter agreement) to the foregoing waiver of any and all severance otherwise payable to you under your Individual Severance Agreement upon your Separation from Service on or after a Change in Control, as described in this letter agreement and the Plan.

  • Individual Severance Agreement, the Participant shall be entitled to, on a benefit-by-benefit basis, severance payments and benefits equal to the greater of the Severance Benefits hereunder and the applicable payments and benefits provided under such Individual Severance Agreement; provided that the foregoing shall not otherwise affect the Participant’s rights under the Plan or such Individual Severance Agreement.

  • The second attribute rated and represented in table 4.2 relates to cleanliness.

  • He further advised that recruitment within Aberdeenshire Council had been frozen and that he was looking to see if he could recruit internally to support the internal audit team.

  • In the event that any terminations occur after the Petition Date, the Debtors seek authority, but not direction, to make payments pursuant to the General Severance Program, any Individual Severance Agreement (including Insider Severance Agreements), or under the terms of the CBAs in the ordinary course postpetition and to continue the Severance Program in the ordinary course consistent with past practices.

  • Each individual who (i) is employed by the Corporation and treated in its employment records as (a) a part-time employee with at least one Year of Service or (b) a regular full-time employee, and (ii) is not a party to an Individual Severance Agreement (an “Eligible Employee”) is eligible to participate in the Plan.

  • Depending on the terms of an Individual Severance Agreement, a participating Employee is entitled to an award that may include (i) 12 months of annual base salary, (ii) such Employee’s target bonus award for the calendar year in which termination occurs, or (iii) the aggregate amount of COBRA (as defined herein) premiums for such Employee and any covered dependents for the 12-month period following such Employee’s termination.


More Definitions of Individual Severance Agreement

Individual Severance Agreement means an approved, executed, written agreement between the Employer and an Eligible Employee that has not expired or been replaced prior to the termination of the Eligible Employee’s employment and that provides for specific severance for the Eligible Employee in connection with a Termination of Employment by the Employer without Cause.
Sample 1
Individual Severance Agreement means a contractual agreement between the Company and an individual who is or becomes a Participant that provides for severance benefits outside of a Company benefit plan.
Sample 1

Related to Individual Severance Agreement

  • Severance Agreement means the Key Executive Severance Agreement, dated as of the date hereof, between the parties, as it may be amended from time to time, that provides for certain benefits related to termination of the Executive’s employment that are unrelated to a Change of Control.

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

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

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

  • Employment Agreement has the meaning specified in the recitals to this Agreement.

  • Change in Control Benefits means the following benefits:

  • Deferred Compensation Agreement means an agreement to participate and to defer compensation between a Participant and the Company in such form and consistent with terms of the Plan as the Company may prescribe from time to time.

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

  • Severance Amount means:

  • 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 Agreement means a written Change in Control Agreement between an employee and the Company or an Affiliate.

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

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

  • Retention Agreements has the meaning set forth in Section 5.11(e).

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

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

  • Severance Plan means any severance plan maintained by the Company that is applicable to the Participant.

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

  • Tax Allocation Agreement means the Tax Allocation Agreement between Corporation and New D&B.

  • 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.

  • Termination Agreement has the meaning set forth in the Recitals.

  • Performance Agreement means an agreement between an HSP and its CEO that requires the CEO to perform in a manner that enables the HSP to achieve the terms of this Agreement and any additional performance improvement targets set out in the HSP’s annual quality improvement plan under the Excellent Care for All Act, 2010;

  • Non-Exempt Severance Arrangement means a severance arrangement or other agreement between the Participant and the Company that provides for acceleration of vesting of an Award and issuance of the shares in respect of such Award upon the Participant’s termination of employment or separation from service (as such term is defined in Section 409A(a)(2)(A)(i) of the Code (and without regard to any alternative definition thereunder) (“Separation from Service”) and such severance benefit does not satisfy the requirements for an exemption from application of Section 409A provided under Treasury Regulations Section 1.409A-1(b)(4), 1.409A-1(b)(9) or otherwise.