Severance Pay Plans definition

Severance Pay Plans means the severance plans set forth on Section 7.05(a) of the Company Disclosure Schedule.
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Examples of Severance Pay Plans in a sentence

  • Prospective Employees will only receive severance pay in connection with the termination of their employment with Seller if they qualify for it under the terms of Seller’s Severance Pay Plans.

  • In addition, Seller’s Severance Pay Plans shall provide that no Affected Employee shall be eligible for severance pay.

  • Without limitation, Seller’s Severance Pay Plans shall provide that a Prospective Employee is ineligible for severance pay if he or she received an employment offer from Buyer at an Equivalent Wage and at a work location within 50 miles of his or her work location with Seller at the Closing Date, regardless of whether such offer is accepted or rejected.

  • For a detailed article on severance pay plans and how to distinguish between severance pay plans and plans of deferred compensation, please see the article entitled, Severance Pay Plans of State and Local Government and Tax-Exempt Employers, found in the Exempt Organizations Continuing Professional Educa­ tion, Technical Instruction Program for FY 1996, Topic H, page 182.

  • During the Benefits Continuation Period, individuals who are employed by the Company and its Subsidiaries immediately prior to the First Merger Effective Time shall be provided with severance benefits in amounts and on terms and conditions that are no less favorable than those provided to such individuals immediately prior to the First Merger Effective Time, as set forth in the Company’s Severance Pay Plans as in effect as of the date hereof.

  • For a detailed article on severance pay plans and how to distinguish between severance pay plans and plans of deferred compensation, please see the article entitled, Severance Pay Plans of State and Local Government and Tax-Exempt Employers, found in the Exempt Organizations Continuing Professional Education, Technical Instruction Program for FY 1996, Topic H, page 182.

  • Dynegy has adopted CIC Severance Pay Plans that generally provide for severance benefits to non-represented, full time, active employees who experience an involuntary termination or constructive termination of employment in connection with a CIC of Dynegy during a specified period of time surrounding the CIC (60 days prior to the CIC or for a period between one and two years following the CIC, depending upon an employee’s job level).

  • Employee further acknowledges and agrees that, during the Interim Period and upon the Out of Service Date, Employee is not (and shall not become) eligible for or otherwise entitled to any compensation rights including, but not limited to, wages, benefits, reimbursements, accelerated vesting, benefit enhancements, or payments under: (a) any Severance Pay Plans, and/or (b) her XXX.

  • Severance Pay Plans for Senior Executive Employees The Company, Utilities, and AmeriGas Propane each maintain a severance pay plan that provides severance compensation to certain senior level employees.

  • Severance Pay Plans for Senior Executive EmployeesThe General Partner and UGI each maintain a severance pay plan that provides severance compensation to certain senior level employees.

Related to Severance Pay Plans

  • Severance Plan means any severance plan maintained by the Company that is applicable to the Participant.

  • Health benefits plan means a benefits plan which pays or

  • Compensation Plans shall have the meaning set forth in Section 3.8(b).

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Executive Severance Plan means the Company’s Senior Executive Employee Severance Pay Plan, as in effect from time to time.

  • Separation Plan means the Company’s Separation Plan Amended and Restated Effective August 13, 2006, as may be amended from time to time or any successor plan, program, arrangement or agreement thereto.

  • Compensation and Benefits Programs means all compensation and benefit plans, policies, and programs of the Debtors, and all amendments and modifications thereto, applicable to the Debtors’ employees, former employees, retirees, and non-employee directors and the employees, former employees and retirees of their subsidiaries, including all savings plans, retirement plans, health care plans, disability plans, and incentive plans, deferred compensation plans, and life, accidental death, and dismemberment insurance plans.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in value in the aggregate as are payable thereunder prior to a Change in Control.

  • Welfare Benefits means the types of benefits described in Section 3(1) of ERISA (whether or not covered by ERISA).

  • Health Benefits means health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits.

  • Incentive Compensation Plans means annual incentive compensation plans and long-term incentive compensation plans of the Company, which long-term incentive compensation plans may include plans offering stock options, restricted stock and other long-term incentive compensation.

  • Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • Pay Plan means the scale of wages as contained in the attached Appendix “A” and the rules governing its application, as per Article 12.

  • Health and Welfare Benefits means any form of insurance or similar benefit programs, which may include but not be limited to, medical, hospitalization, surgical, prescription drug, dental, optical, psychiatric, life, or long-term disability.

  • 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 Benefits mean the payment of severance compensation as provided in Section 2.3 herein.

  • Salaried Employee means an employee who is not covered by the Fair Labor Standards Act who regularly receives each pay period a predetermined amount constituting all or part of compensation. This base salary cannot be reduced because of variations in the quality or quantity of work performed.

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Compensation and Benefit Plans has the meaning set forth in Section 5.03(m)(i).

  • Medical benefit plan means a plan established and maintained by a carrier, a voluntary employees' beneficiary association described in section 501(c)(9) of the internal revenue code of 1986, 26 USC 501, or by 1 or more public employers, that provides for the payment of medical benefits, including, but not limited to, hospital and physician services, prescription drugs, and related benefits, for public employees or elected public officials. Medical benefit plan does not include benefits provided to individuals retired from a public employer or a public employer's contributions to a fund used for the sole purpose of funding health care benefits that are available to a public employee or an elected public official only upon retirement or separation from service.

  • Change in Control Severance Benefits means the benefits payable pursuant to Section 3 of this Agreement.

  • Incentive Compensation Plan means any plan, agreement or other arrangement that provides for the grant or issuance of equity or equity-based awards and that is now in effect or is hereafter adopted by the Company or the Managing Member for the benefit of any of their respective employees or other service providers (including directors, advisers and consultants), or the employees or other services providers (including directors, advisers and consultants) of any of their respective Affiliates or Subsidiaries.

  • Gap medical benefits means the benefits (if any) payable in respect of medical expenses that are less than, greater than or equal to the schedule fee, provided always that the medical expenses relate to a professional service that:

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Compensation Plan means any program, plan or similar arrangement (other than employment contracts for a single individual) relating generally to compensation, pension, employment or similar arrangements with respect to which any Company, any Affiliate of any Company or any ERISA Affiliate of any of them has any obligation or liability, contingent or otherwise, under any Requirement of Law other than that of the United States.