Severance Compensation definition

Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

Severance Compensation means Severance Pay and other benefits provided by Section 5(a).

Severance Compensation shall be:

Examples of Severance Compensation in a sentence

• In exchange for the promises you make in this Agreement, the Company covenants and agrees to provide you with Severance Compensation and Severance Benefits (defined below).

• This Agreement constitutes our entire agreement regarding the termination of your employment with the Company and the payment of the Severance Compensation and Severance Benefits.

• This element of Severance Compensation shall be payable in equal installments on the normal pay dates following Executive’s separation from service with the Company within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the Treasury Regulations promulgated thereunder (such Section and regulations are sometimes referred to in this Agreement as “Section 409A”).

• I also acknowledge that the consideration given under the Letter Agreement for the waiver and release in the preceding paragraph hereof is in addition to anything of value to which I was already entitled, and that I am entitled to the Severance Compensation under the Letter Agreement only if I sign and do not revoke this Release.

• You acknowledge that the Severance Compensation and Severance Benefits are in addition to any monies or benefits to which you were already entitled.

More Definitions of Severance Compensation

Severance Compensation means an amount equal to the sum of (i) the Bonus Amount, plus (ii) an amount equal to the Executive’s annual Base Salary (at the highest rate in effect for the six month period immediately prior to the date of termination). The Severance Compensation shall be paid in semi-monthly installments for a period of twelve (12) months from the date of termination (the “Severance Period”). Notwithstanding the forgoing, the payment of Severance Compensation under Sections 4.1, 4.2 and 4.4 shall commence on the 60th day following the Executive’s termination date (the “Initial Payment Date”) and Severance Compensation scheduled to be made during the Severance Delay Period shall be accrued and paid on the Initial Payment Date with any remaining Severance Compensation continuing for the remainder of the Severance Period hereunder. In addition, as part of the Severance Compensation, Luminex also shall pay (until the earlier of (A) the first annual anniversary of the termination of this Agreement or (B) the date that Executive is eligible to be covered under a comparable or more favorable health plan of another Person) (i) COBRA payments in respect of the continuation of health benefits for Executive, his spouse and his children and (ii) payments to fund dental coverage for Executive, his spouse and his children comparable to the dental coverage that they would have received if Executive had continued as an employee of Luminex. Notwithstanding the foregoing, if Luminex’s payment pursuant to the foregoing sentence would violate the nondiscrimination rules applicable to non-grandfathered plans, or result in the imposition of penalties under, the Patient Protection and Affordable Care Act of 2010 (“PPACA”) and related regulations and guidance promulgated thereunder, the parties agree to reform such sentence in such manner as is necessary to comply with PPACA.

Severance Compensation is defined as all of the compensation and benefits described in this Paragraph 10.E. It will be provided to Employee upon the occurrence of any of the events described elsewhere in this Agreement as providing for Employee's receipt of Severance Compensation, but not in any other circumstances except to the extent that individual components of Severance Compensation may be separately provided pursuant to the terms of this Agreement. "Termination Date" is defined as the last day of Employee's employment with the Company. "Severance Period" is defined as the period beginning on the day following the Termination Date and ending on the day which is one year following the Termination Date. Should a termination occur upon or within twelve months following a Change in Control, the Severance Period will end on the day which is two years following the Termination Date. The compensation and benefits to be provided as Severance Compensation are as follows:

Severance Compensation means the severance pay and other benefits provided by Sections 4(a) and (b).

Severance Compensation means Severance Pay and other benefits provided by Section 5(a) and (b).

Severance Compensation. 100% of the annual variable bonus amount established by the Compensation Committee of the Company’s board of directors for the year in which termination occurs plus 100% of the Employee’s Base Salary for such year.

Severance Compensation means an amount equal to 100% of Executive’s annual Base Salary (at the highest rate in effect for the six month period immediately prior to the date of termination). In addition, NMHC also shall pay (until the end of the COBRA Period) (i) COBRA payments in respect of the continuation of health benefits for Executive, Executive’s spouse and Executive’s children and (ii) payments to fund dental coverage for Executive, Executive’s spouse and Executive’s children comparable to the dental coverage that they would have received if Executive had continued as an employee of NMHC.

Severance Compensation means the Executive's severance benefit, as described in Subsection 2.2 of this Agreement.