Severance Pay definition

Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

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Severance Pay means the payment determined pursuant to Section 2.1 hereof.

Severance Pay means the amount, if any, payable under Section 4 of the Plan to an Eligible Employee.

Examples of Severance Pay in a sentence

In the event of the Termination of Employment of the Employee by the Company under circumstances where the Employee is entitled to the benefits under the Company’s Executive Severance Pay Plan, the Employee shall be entitled to retain the ratable portion of the total RSUs granted hereunder determined under the terms of that plan, which will vest on the Vesting Date or Vesting Dates following the termination date in the manner stated in Section 1 of this Agreement.
This Agreement embodies the entire agreement of the parties hereto relating to the subject matter hereof and supersedes all earlier written or oral agreements, including but not limited to the Severance Pay Agreement for Key Employee agreed to by Executive and the Company on July 28, 2022.
All RSUs granted to the Employee will be forfeited upon a Termination of Employment with the Employer before the Vesting Date for any reason other than death, Disability, the circumstances of a Change in Control described above, as provided for by the Company’s Executive Severance Pay Plan under the circumstances described above, or Retirement.
In the event of the Termination of Employment of the Employee by the Company under circumstances where the Employee is entitled to the benefits under the Company’s Executive Severance Pay Plan, the RSUs may be prorated solely at the discretion of the Company’s Chief Executive Officer and the Committee as specified under the terms of that plan, and any of which RSUs that are prorated will vest and will be immediately settled in shares of Common Stock and be immediately transferable on the Vesting Date.
Any portion of the RSUs not yet vested will be forfeited upon termination of the Employee’s employment with the Employer prior to any remaining Vesting Dates for a reason other than death, Disability, the circumstances of a Change in Control described above, as provided for by the Company’s Executive Severance Pay Plan, or Retirement.

More Definitions of Severance Pay

Severance Pay means compensation in addition to regular salaries and wages that is paid by a school to an employee whose employment is being terminated.

Severance Pay means the amounts payable as set forth in Section 5(a).

Severance Pay refers to the cashing out a combination of accrued but unused sick leave, vacation and paid time off (PTO) under certain conditions and subject to the limitations stated in this article herein titled “Severance Pay”.

Severance Pay has the meaning set forth in Section 6(b)(i).

Severance Pay means the pay an Eligible Employee is eligible to receive under Subsection (b) of Section 2.1 of the Plan upon his or her Involuntary Termination.

Severance Pay means the sum payable to a Covered Employee upon Termination of Employment as set forth in Section 3.1 of the Plan.

Severance Pay means the sum payable as set forth in Section 3.1 of the Plan.