Separation Pay Plan definition
Examples of Separation Pay Plan in a sentence
The benefits provided for herein are intended to be in lieu of, and not in addition to, other separation pay benefits to which the Executive might be entitled, including those under the Corporation’s Separation Pay Plan, or any successor plan or program offered by the Corporation, which the Executive hereby waives.
For the certified employee beginning employment after January 1, 2000, the Section 1(a) Severance Plan shall replace this Separation Pay Plan.
Effective July 1, 2016, (A) LSC Communications US, LLC established the LSC Separation Pay Plan and is solely responsible for any severance Liabilities to any LSC Employee whose employment terminates on or after July 1, 2016 and (B) Donnelley Financial, LLC established the Donnelley Financial Separation Pay Plan and is solely responsible for any severance Liabilities relating to any Donnelley Financial Employee whose employment terminates on or after July 1, 2016.
Any previous discussions, agreements, commitments, or understandings between the parties hereto or between Executive and NBTB, NBT Bank, or any of their affiliates, whether oral or written, regarding the subject matter hereof, including without limitation the terms and conditions of employment, compensation, benefits, retirement, competition following employment, and the like (including the NBTB Enhanced Separation Pay Plan), are superseded by this Agreement.
The Company shall also have the right to terminate Executive’s employment without Cause with less than 90 days’ advanced notice, but shall pay, in addition to anything payable under the Executive Separation Pay Plan, Executive’s Annual Salary as determined for the period that represents 90 days’ of continued employment, reduced by the period of actual advanced notice of termination provided by the Company.
The Executive shall not be entitled to any benefits under the KeyCorp Separation Pay Plan.
The employee’s unused sick leave, if any, will be treated in accordance with Section 10.03, Sick Leave Separation Pay Plan.
The employee’s unused sick leave, if any, will be treated in accordance with Section 10.04, Sick Leave Separation Pay Plan.
Amounts which are vested benefits or which the Executive is otherwise entitled to receive under any plan, policy, practice or program of or any contract or agreement with the Company or any of its affiliated companies (other than the KeyCorp Separation Pay Plan) at or subsequent to the Date of Termination shall be payable in accordance with such plan, policy, practice or program or contract or agreement except as explicitly modified by this Agreement.
For the avoidance of doubt, the severance pay to which the Executive would be entitled if the Separation from Service were a Separation from Service for which severance benefits were payable under the Executive Separation Pay Plan and the provisions of Sections 4.3, 4.4 and 4.5 thereof did not apply is twelve months of base salary as in effect immediately prior to the Separation from Service.