Salary Severance definition

Salary Severance means the severance payments set forth in Section 3.
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Salary Severance means a Participant’s severance determined in accordance with Section 9.3 or 10.3.
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Salary Severance means the severance payments set forth in Sections 3.a. and 3.b.
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Examples of Salary Severance in a sentence

  • Accrued Salary, Severance Payments and Vested Benefits Enhancements shall be paid no later than 10 days following the termination of the Employment Period.

  • No Salary Severance is payable after Executive turns age 65, regardless of whether Executive has a Good Reason for resignation and regardless whether the Company has Cause to terminate Executive.

  • The Company shall also continue the Executive’s subsidized health and welfare benefits then in effect for the duration of the Salary Severance Period or, if the relevant benefit plans do not permit such continuation, the Company shall pay out the cash equivalent in a lump sum payment to Executive within thirty (30) days following the Executive’s termination date.

  • The Severance Bonus shall commence upon the Board’s determination of executive bonuses for the year in which Executive is terminated, and shall be payable in a pro rata amount for a period that runs concurrently with the remaining period that Executive is receiving Base Salary Severance.

  • The CIC Salary Severance will be paid as one-time, lump-sum payment no later than the first regularly-scheduled payroll date following the sixtieth (60th) day after your Separation from Service, provided the Separation Agreement (as discussed in Section 7.5) has become effective.

  • The Base Salary Severance shall be payable as salary continuation over the one (1) year period following the date of termination.

  • The Non-CIC Salary Severance will be paid as one-time, lump-sum payment no later than the first regularly-scheduled payroll date following the sixtieth (60th) day after your Separation from Service, provided the Separation Agreement (as discussed in Section 7.5) has become effective.

  • The Non-CIC Bonus Severance will be paid as a one-time, lump-sum payment contemporaneously with the Non-CIC Salary Severance, but in no event later than the first regularly-scheduled payroll date following the sixtieth (60th) day after your Separation from Service, provided the Separation Agreement (as discussed in Section 7.5) has become effective.

  • Except for any rights which the Senior Officer may have to all of the above including unpaid Accrued Salary, Severance Salary, Vested Incentive Compensation, Vested Options, Expense Reimbursement, the Car Allowance and the Bonus, the Trust shall have no further obligations hereunder following such termination.

  • For the avoidance of doubt, in no event shall the sum of the Lump Sum Severance plus the Continued Salary Severance exceed two (2) times the Average Compensation.

Related to Salary Severance

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

  • 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 Benefit shall have the meaning set forth in Section 4.7(a)(i) herein.