Examples of Severance Compensation Period in a sentence
The Company shall reimburse Executive for expenses incurred for outplacement services during the Severance Compensation Period, up to a maximum aggregate amount of $20,000, which services shall be provided by an outplacement agency selected by Executive.
The Company will pay Executive (i) on the Commencement Date an amount equal to seven-twelfths of Executive’s Base Salary as in effect immediately prior to the Termination Date, and (ii) each month thereafter during the Severance Compensation Period an amount equal to one-twelfth of Executive’s Base Salary as in effect immediately prior to the Termination Date.
The amount of any Applicable Benefit provided during one taxable year shall not affect the amount of the Applicable Benefit provided in any other taxable year, except that with respect to any Applicable Benefit that consists of the reimbursement of expenses referred to in Code Section 105(b), a limitation may be imposed on the amount of such reimbursements over some or all of the applicable Severance Compensation Period, as described in Treasury Regulations Section 1.409A-3(i)(iv)(B).
The Company will provide Executive with a vehicle allowance equal to the reasonably equivalent value for the use of the vehicle then utilized by Executive for the Severance Compensation Period.
The Company shall pay Executive a monthly cash vehicle allowance during the Severance Compensation Period equal to what it would cost Executive to lease the vehicle utilized by Executive immediately prior to the Termination Date, calculated by assuming that the lease is a three (3) year closed-end lease.
The Company shall reimburse Executive for expenses incurred for outplacement services during the period from the date on which Notice of Termination is issued to the expiration of the Severance Compensation Period, up to a gross maximum aggregate amount of €18,000 inclusive of VAT and outlay, which services shall be provided by an outplacement agency selected by Executive.
The Company shall reimburse Executive for expenses incurred for outplacement services during the Severance Compensation Period, up to a gross maximum aggregate amount of €16,000 inclusive of VAT and outlay, which services shall be provided by an outplacement agency selected by Executive.
Subject to statutory deductions, during the Severance Compensation Period, the Company shall continue to pay Executive his monthly cash vehicle allowance that was in effect as of the Termination Date, in accordance with the Company’s normal payment schedule and payment practices in effect from time to time.
Executive’s obligations under this Section 4 constitute material ongoing obligations and provide actual and necessary benefit to the Parent, the Subsidiary and their affiliated companies during the Severance Compensation Period.
The Severance Compensation Period shall be the greater of the periods determined as follows: (i) the remaining period of time, if any, in the initial five (5) year term hereunder at the time of the termination event, or if after the initial five (5) year term hereunder, (ii) an initial period of twenty-four (24) months which shall, on each anniversary of the effective date hereof on which the Consultant is a consultant of the Company, be increased by two (2) additional months.