Separation Amount definition

Separation Amount means the sum of (i) twenty-four (24) months Base Salary, at the rate in effect on the Termination Date, and (ii) the Termination Bonus Amount.

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Separation Amount has the meaning accorded such term in Section 3.04.

Separation Amount means an amount in US dollars equal to $4,000,000. In the event of your Separation from Airbnb without Cause or for Good Reason prior to February 26, 2020, and provided that you deliver to Airbnb a signed settlement agreement and general release and waiver of claims and non-disparagement agreement in customary form in favor of Airbnb, its employees, agents and its representatives and affiliated entities (the “Release”), within fifty-two (52) days following your Separation, and satisfy all conditions to make the Release effective, then, you shall be entitled to either of the following (as determined by the Company in its sole discretion): (a) payment of the Separation Amount, or (b) the acceleration of the time-based vesting of a number of shares subject to the RSU Awards equal to the Accelerated Share Number. Such severance payments and benefits will be subject to withholding and other deductions, as applicable. If the Company elects to pay the Separation Amount, under (a) above, the payment will be made no later than the 52nd day following your Separation, provided the Release condition has been satisfied.

Examples of Separation Amount in a sentence

Lastly, any such payments that are paid after the Short Term Deferral Period and otherwise exceed the Involuntary Separation Amount are exempt from Code Section 409A to the extent such payments in the aggregate do not exceed the applicable dollar amount under Code Section 402(g)(1)(B) for the year in which your separation from service occurs (the “Limited Payments”).
There shall be deducted from the payment of the Separation Amount all applicable federal, state and local withholding taxes and other appropriate deductions.
Each payment of any amount that constitutes a Separation Amount or any Company benefit plan is intended to be treated as one of a series of separate payments for purposes of Code Section 409A and Treasury Regulation §1.409A-2(b)(2)(iii) (or any similar or successor provisions).
The parties agree and acknowledge that the Separation Amount constitutes sufficient consideration for the promises, releases and other obligations in this Agreement.
The Separation Amount shall be paid within 30 days following the Effective Date (as defined below).
The Employer will issue the Employee a Form W-2 for the Separation Amount in the normal course of business.
Employee acknowledges that he would not be entitled to any of the Separation Amount but for his entering into this Agreement.
This Agreement will not be effective or enforceable and no Separation Amount will be provided to the Employee until the expiration of the seven (7) day period for revocation has expired.
Employee acknowledges that the Separation Amount is in addition to any compensation Employee has earned from the Employer and that Employee would not be entitled to the Severance Amount but for his execution of this Agreement.
It is understood and agreed that the payment of a Separation Amount and the provision of Separation Benefits under this Agreement constitute a voluntary, ad hoc severance arrangement, and that same shall neither create nor be evidence of any severance pay plan or employee welfare benefit plan.

More Definitions of Separation Amount

Separation Amount means pounds amount 117,000( one hundred and seventeen thousand pounds )

Separation Amount means the greater of One Hundred Ninety Five Thousand Pounds ((British pounds) 195,000.00) or Executive's annual salary as in effect on the date of Executive's Involuntary Termination.

Separation Amount means two hundred forty-three thousand, two hundred fifty dollars ($243,250.00).