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.
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

  • Column (f) provides the lump sum payable by ITT in accordance with the Special Senior Executive Severance Pay Plan in the event of a change of control.

  • Severance Pay - Notice of employer stating the amount received in severance pay.

  • The amount shown is an estimate based on the operation of the Company’s standard Severance Pay Plan.

  • A Severance Pay Employees who are separated because of a layoff or reduction in force shall be entitled to severance pay in accordance with Part 435 of the Employee and Labor Relations Manual.

  • Without limiting the foregoing, upon a breach by Executive of any provision of this Article IV, any outstanding Severance Pay shall cease and be forfeited, and Executive shall immediately reimburse the Company for any Severance Pay previously paid.


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 has the meaning set forth in Section 6(b)(i).
Severance Pay means any amount 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.
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 shall only mean the Executive's base salary at the Severance Rate.
Severance Pay means (A) the sum of your Salary and your annual target Bonus for the fiscal year in which the Termination Notice is given (or if such target Bonus has not yet been established for such fiscal year, the target Bonus for the fiscal year prior to the year in which the Termination Notice is given) multiplied by (B) the severance multiplier provided on your Schedule (your “Severance Multiplier”).