Severance Multiple means 2.50; provided, however, that notwithstanding the foregoing, for each full month that elapses during the period beginning on the date the Executive attains age 63 and ending on the date the Executive attains age 65, the Severance Multiple shall be reduced by an amount equal to the product of (i) 1/24 and (ii) the excess of (A) the original Severance Multiple set forth above over (B) 1.0 (rounded to the nearest hundredth).
Severance Multiple has the meaning set forth on the first page of the Agreement.
Severance Multiple means two; provided, however, that the Severance Multiple shall mean three if Executive’s employment hereunder shall terminate on or within two years after the occurrence of a Change in Control.
Examples of Severance Multiple in a sentence
No senior executive or other employee has any right to participate in the Plan, and no Participant has any right to any particular Severance Multiple.
The Committee (or its designee) will determine the Severance Multiple for each Participant.
More Definitions of Severance Multiple
Severance Multiple means 1
Severance Multiple means the Participant’s Severance Period, expressed in years or fractions thereof (e.g., a Severance Period of two years results in a Severance Multiple of two). The Severance Multiple may be different for periods outside of the Change in Control Period and within the Change of Control Period.
Severance Multiple has the meaning given to such term in Section 1.06 hereof.
Severance Multiple means the number applicable to a Participant’s position as set forth on Exhibit A, as amended from time to time.
Severance Multiple has the meaning set forth in the Agreement.
Severance Multiple means three.
Severance Multiple means, with respect to any Eligible Employee, the highest of the following multiples applicable to such person: