Separation Payment definition

Separation Payment means any lump sum cash payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.

Separation Payment means an amount equal the sum of Executive’s Base Compensation and target Annual Bonus as in effect immediately before any notice of termination multiplied by (A) two in the case of a Change in Control and (B) one in all other cases. The Separation Payment shall be payable in a cash lump sum pursuant to Section 10(f). Executive shall have no responsibility for mitigating the amount of any payment provided for herein by seeking other employment or otherwise, and any such payment will not be reduced in the event such other employment is obtained.

Separation Payment means any lump sum payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.

Examples of Separation Payment in a sentence

• The University's obligations to pay the University Separation Payment shall not accrue interest (so long as not in arrears).

• The parties further agree that the payment of the University Separation Payment by the University and the acceptance thereof by Coach shall constitute adequate and reasonable compensation to Coach for any damages and injuries suffered by Coach because of such termination by the University.

• The Coach Separation Payment shall not be, nor be construed to be, a penalty.

• Accordingly, Xxxxx agrees that the amount of the Coach Separation Payment is a reasonable and fair approximation of the harm that the University will incur in the event of the termination of Coach’s employment by Coach.

• The parties have bargained for and agreed to the University Separation Payment, giving consideration to the fact that termination of Coach’s employment without Cause by the University prior to the expiration of the Term may cause Coach to lose certain benefits and incentives, supplemental compensation, or other athletically- related compensation associated with Coach’s employment with the University, the amounts of which are extremely difficult to determine with certainty.

More Definitions of Separation Payment

Separation Payment means a lump sum equal to (A) Employee’s Base Salary (as defined in Subparagraph 8(a) of this Agreement) for the twelve (12) months immediately following termination, plus (B) the bonus that was paid to Employee under Subparagraph 8(b) for the preceding bonus period, projected over the twelve (12) months following that bonus period, plus (C) any accrued but unpaid vacation pay, plus (D) any Gross-Up Payment required by Exhibit 1 to this Agreement, which is incorporated herein by reference.

Separation Payment means a lump sum amount payable to an eligible person by reason of qualified layoff and certain separations from the Company.

Separation Payment. As soon as administratively practical after your Last Day of Employment, P&G will provide you with a Separation Payment of «Total_Amount», less legally required withholdings and deductions. In no event will payment be made before expiration of the seven-day revocation period discussed below or later than the March 15th of the year following the year which includes your last day of employment. Amounts you owe to P&G as of your Last Day of Employment, including, but not limited to, wage and/or benefit overpayments and unpaid loans, will also be deducted from the Separation Payment.

Separation Payment means a Payment paid or payable pursuant to this Agreement (disregarding this Section); (3) “Present Value” means such value determined in accordance with Sections 280G(b)(2)(A)(ii) and 280G(d)(4) of the Code; and (4) “Reduced Amount” means an amount expressed in Present Value that maximizes the aggregate Present Value of Separation Payments without causing any Payment to be nondeductible because of Section 280G of the Code.

Separation Payment means a payment equal to 2.99 times the Employee's annual base salary at the time of termination, subject to the limitations in (6)(g)(ii), below.

Separation Payment means a Payment paid or payable pursuant to this Agreement (disregarding this Section); (iii) "Net After Tax Receipt" shall mean the Present Value of a Payment net of all taxes imposed on the Employee with respect thereto under Sections 1 and 4999 of the Internal Revenue Code of 1986, as amended (the "Code"), determined by applying the highest marginal rate under Section 1 of the Code which applied to the Employee's taxable income for the immediately preceding taxable year; (iv) "Present Value" shall mean such value determined in accordance with Section 280G(d)(4) of the Code; and (v) "Reduced Amount" shall mean the greatest aggregate amount of Separation Payments which (a) is less than the sum of all Separation Payments and (b) results in aggregate Net After Tax Receipts which are equal to or greater than the Net After Tax Receipts which would result if the Employee were paid the sum of all Separation Payments.

Separation Payment means a lump sum equal to (A) Employee's Base Salary (as defined in Subparagraph 8(a) of this Agreement) for the remainder of the Term, but not less than one (1) year of Base Salary, plus (B) the bonus that was paid to Employee under Subparagraph 8(b) for the preceding bonus period, projected over the remainder of the Term (but not less than the preceding bonus that was paid), plus (C) any accrued but unpaid vacation pay, plus (D) any Gross-Up Payment required by Exhibit 1 to this Agreement, which is incorporated herein by reference.