Initial Severance Period definition

Initial Severance Period has the meaning specified in Section 5(a) ------- --------- ------ hereof.
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Initial Severance Period means the period beginning on the Effective Date and ending on the later of (i) March 1, 2015 or (ii) the day immediately prior to the first day of the Special Severance Period.
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Examples of Initial Severance Period in a sentence

  • If Executive’s employment is terminated by Employer without Cause, during the six-month period commencing on the date of termination (the “Initial Severance Period”), Employer shall pay to Executive each month during the Initial Severance Period an aggregate amount equal to 1/12th of his Annual Base Salary in effect as of the end of the Employment Period, payable in equal installments on the Employer’s regular salary payment dates.

  • If Executive's employment is terminated by Employer without Cause, during the six-month period commencing on the date of termination (the "INITIAL SEVERANCE PERIOD"), Employer shall pay to Executive each month during the Initial Severance Period an aggregate amount equal to 1/12th of his Annual Base Salary in effect as of the end of the Employment Period, payable in equal installments on the Employer's regular salary payment dates.

  • At the Company’s option, severance payments consisting of 50% of the monthly amount of the executive’s base salary for Mr. Coskey, and in the case of Mr. Hess, 100% of the monthly amount of his base salary, and full benefits may be extended for an additional six-month period following the Initial Severance Period.

  • Base Salary then in effect from and after the Date of Termination through the earlier of (i) the expiration of the Term ------- and (ii) the date twelve (12) months after the Date of Termination (the "Initial Severance Period"), less all applicable payroll deductions, including deductions for federal, state, local and Social Security taxes (the "Initial Severance Payments").

  • The £1m annual recurring funding identified in respect of this part of the Measure would be in addition to the £1.2m per year which will be provided for the expanded IMHA service for compulsory patients, resulting in a total annual allocation of £2.2m for statutory mental health advocacy services in Wales.

  • If Executive’s employment is terminated by Employer without Cause, during the six-month period commencing on the date of termination (the “Initial Severance Period”), Employer shall pay to Executive each month during the Initial Severance Period an aggregate amount equal to 1/12th of her Annual Base Salary in effect as of the end of the Employment Period, payable in equal installments on the Employer’s regular salary payment dates.

  • Employer may (in its sole discretion) elect to extend the Initial Severance Period for one additional one-year period (the “Additional Severance Period”) by providing Executive written notice of such extension no less than 60 days prior to the last day of the Initial Severance Period and paying Executive an additional amount equal to his Annual Base Salary plus the Prior Year Bonus, payable in equal installments on the Employer’s regular salary payment dates.

  • While it was possible to stop the re- cession within the euro area, however, economic growth (GDP) stagnated due to the continuing weak domestic demand.

  • Maternal stress and T-cell differentiation of the developing immune system: possible implications for the development of asthma and atopy.

  • If Executive's employment is terminated by Employer without Cause, during the six-month period commencing on the date of termination (the "Initial Severance Period"), Employer shall pay to Executive each month during the Initial Severance Period an aggregate amount equal to 1/12th of her Annual Base Salary in effect as of the end of the Employment Period, payable in equal installments on the Employer's regular salary payment dates.

Related to Initial Severance Period

  • 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.

  • Change in Control Benefits means the following benefits:

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

  • 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.

  • Retention Period has the meaning set forth in Section 6.02.

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

  • Severance Amount means:

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

  • Severance Term means the six (6) month period following Employee’s termination by the Company without Just Cause (other than by reason of death or Disability) or by Employee for Good Reason; provided, that if such termination occurs within twelve (12) months following a Change in Control, the Severance Term shall be the twelve (12) month period following such termination.

  • 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.

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

  • Termination Benefits means the benefits described in Section 4.1(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 Payments shall have the meaning set forth in Section 6.1 hereof.

  • Change in Control Period means the period beginning three (3) months prior to a Change in Control and ending twelve (12) months following a Change in Control.

  • Extended benefit period means a period which:

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

  • Termination Period means the period of time beginning with a Change in Control and ending on the earlier to occur of:

  • 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).

  • Post-Termination Period means a period of 12 months (subject to extension as set forth in Section 8(f)) following the effective date of the termination of Executive’s employment.

  • Benefit Period means the period of time from the date of the Accident causing the Injury for which benefits are payable, as shown in the Schedule of Benefits, and the date after which no further benefits will be paid.

  • COBRA Continuation Period means the continuation period for medical and dental insurance to be provided under the terms of this Agreement which shall commence on the first day of the calendar month following the month in which the date of termination falls and generally shall continue for an 18 month period.

  • Compensation Period has the meaning specified in Section 2.12(c)(ii).

  • Post-Employment Period shall have the meaning set forth in Article 8.

  • Stated Termination Date means December 31, 2000.

  • Compensation Accrued at Termination means the following: