Minimum Severance Amount definition

Minimum Severance Amount means, for each Participant, the minimum severance amount set forth next to such Participant's name on Attachment A.
Sample 1
Minimum Severance Amount means, with respect to the Separated Employees, the greater of
Sample 1
Minimum Severance Amount means, with respect to theeach Separated Employees, the greater of (a) the amount the Separated Employees are entitled to receive under each of their employment contracts and (b) the statutorily required severance amount payable to the Separated Employees under the laws of the applicable jurisdictions in which each of the Separated Employees is based. 12amount listed in the column heading "Minimum Severance Amount" opposite such Separated Employee's name in Exhibit 16.
Sample 1

Examples of Minimum Severance Amount in a sentence

  • The Executive’s Base Salary may not be decreased during the Employment Period other than pursuant to a like proportionate reduction of base salaries of other senior executives of the Company.

  • In the event that application of paragraph (a) of this Section 7.8 would result in the Executive's receiving pursuant to Sections 7.1(a) (b) hereof an amount less than the product of one and one-half multiplied by the Executive's Annual Base Salary for the fiscal year in which the Date of Termination applies (the "Minimum Severance Amount"), then the Minimum Severance Amount shall be paid to Executive and Executive shall also be entitled to the adjustments contemplated by Section 7.9 hereof.

  • Expenses are proposed at $33,076,690, a decrease of 10.02% under last year’s budget.

  • Whenever semantics of reality require that every entity of an entity type must relate to another entity type, such an entity can exist only if it participates in that specific relationship.

Related to Minimum Severance Amount

  • Severance Amount means:

  • 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)

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

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

  • 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.

  • Retention Amount means, in relation to any Retention Date, such sum as shall be the aggregate of:

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Severance Multiplier means, with respect to any termination of Employee’s employment hereunder by the Company without Cause or by Employee with Good Reason, 1; provided, however, that in the event such termination occurs within the two (2) year period following a Change in Control, the Severance Multiplier shall instead equal 2.

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

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

  • Severance Multiple means 2.50; provided, however, that notwithstanding the foregoing, for each full month that elapses during the period beginning on the date the Executive attains age 63 and ending on the date the Executive attains age 65, the Severance Multiple shall be reduced by an amount equal to the product of (i) 1/24 and (ii) the excess of (A) the original Severance Multiple set forth above over (B) 1.0 (rounded to the nearest hundredth).

  • 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.

  • Retention Bonus means the amount equal to:

  • Minimum Payments $50 (with respect to all funds in the aggregate.) No payment pursuant to this Schedule is payable to a dealer, bank or other service provider for the first year with respect to sales of $1 million or more, at no load, in cases where A I M Distributors, Inc. has advanced the service fee to the dealer, bank or other service provider.

  • Accrued Amount has the meaning set forth in Section 3.1(b) of this Agreement.

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

  • Minimum Payment means the amount of minimum payment as stated in the Fee Schedule;

  • Change in Control Benefits means the following benefits:

  • Compensation Accrued at Termination means the following:

  • 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.

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

  • Minimum Cash Amount shall have the meaning set forth in Section 6.2(iv).

  • 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.

  • Minimum Cash Balance means $10,000,000 minus (i) $500,000, (ii) any amounts to be paid to holders of Allowed Ongoing Trade Claims of New Permian Corp., and (iii) any amounts to be paid to holders of Allowed Cure Amounts pursuant to Section 8.4(ii).

  • Change in Control Payments means all change in control, transaction, retention and similar bonuses or payments, paid or payable by the Acquired Companies to any current or former directors, managers, officers, employees, or other Persons as a result of the Closing of the Transactions or the execution of this Agreement, including any deferred compensation, in each instance, plus the employer portion of any employment Taxes due in connection with any such payments, but excluding, for the avoidance of doubt, severance payments relating to a termination of employment following the Closing.

  • Change in Control Payment shall have the meaning stated in Section 6.4 hereof.