Severance Liabilities definition

Severance Liabilities means all Liabilities for severance compensation or benefits incurred or payable by the Company or any of its Subsidiaries to any Company Employee or Company Independent Contractor in connection with his or her termination of employment or service.

Severance Liabilities has the meaning set forth in Section 10.10(d).

Severance Liabilities means any pension, retirement, deferred compensation, profit sharing, incentive compensation, bonus, stock purchase, stock option, welfare, hospitalization or insurance plan or arrangement or any vacation pay, severance costs, COBRA benefit, obligations or responsibilities, or any other employee benefit arrangement relating to Seller’s employees listed on Schedule 1.3 hereto and all former employees of Seller.

Examples of Severance Liabilities in a sentence

• Rather, Seller shall remain liable for all Severance Liabilities in excess of the amounts so deposited by Purchaser with the Escrow Agent for this purpose.

• The parties acknowledge and agree that the amount deposited by Purchaser with the Escrow Agent under the Other Escrow Agreement pursuant to Section 1.2.2(c)(iii) for the purpose of providing a source of available funds for payment of Severance Liabilities shall not be Purchaser's exclusive remedy or recourse in this regard.

• Buyer or any of its Affiliates shall not hire as an employee or a consultant any employee listed on Schedule 1.3 for a period of 90 days following the Closing Date, unless Buyer agrees in writing to indemnify Seller for any Severance Liabilities paid by Seller for such employee in accordance with this Agreement.

• To the extent that any such Severance Liabilities are incurred by any member of the Air Products Group, Versum shall indemnify such Air Products Group member for such Liability.

• Any liabilities incurred in connection with any employee of Seller listed on Schedule 1.3 hereto or any former employee of Seller shall be retained by Seller and Buyer shall have no obligations with respect to such employees, including Severance Liabilities.

More Definitions of Severance Liabilities

Severance Liabilities as defined in Section 7.5(a)(iv)(y).

Severance Liabilities means any Liabilities that may result in respect of claims for statutory, contractual or common law severance or other separation benefits or other legally mandated payment obligations (including claims for wrongful dismissal, notice of termination of employment or pay in lieu of notice and including salary payments, costs of labor court proceedings and termination costs), together with the employer-paid portion of any employment or payroll taxes related thereto.

Severance Liabilities all Liabilities in respect of severance, redundancy and similar pay, salary continuation, and similar obligations relating to the termination or alleged termination of any such individual's employment, whether or not arising under a Severance Plan, but excluding Liabilities under individual employment agreements.

Severance Liabilities means any written obligation to pay any severance, termination, bonus, retention, change in control, or any similar payment to any employee or independent contractor of the Company in connection with the termination of employment of any such employee or independent contractor as a result of the consummation of the Transactions, other than any

Severance Liabilities means any severance or other termination costs, expenses or Liabilities (including without limitation compensation during any required notice period or otherwise and any bonuses, provision of any benefits, or any other retention payments) associated with the termination of any of the CPAM Employees.

Severance Liabilities means any written obligation to pay any severance, termination, bonus, retention, change in control, or any similar payment to any employee or independent contractor of the Company in connection with the termination of employment of any such employee or independent contractor as a result of the consummation of the Transactions, other than any such obligations arising solely as a matter of applicable Law (e.g., the Worker Adjustment and Retraining Notification Act).

Severance Liabilities means the amount of the severance pay, other than WARN Obligations as set forth in Section 11.13 with respect to Seller's facility in Kingman, Arizona and Watkinsville, Georgia, that is actually paid as a result of effects bargaining or in accordance with Seller's severance policies in effect on the date hereof to, or on behalf of, Seller's employees in the Business who meet all of the following conditions: