Severance Payments definition

Severance Payments shall have the meaning set forth in Section 6.1 hereof.

Severance Payments means those payments described in Section 6.1 hereof.

Severance Payments means the payments provided for in Articles 2 and 3 hereof;

Examples of Severance Payments in a sentence

• In addition to the foregoing, and not in any way in limitation of any right or remedy otherwise available to the Company, if the Board determines in good faith that Executive violated Section 4 or Section 7 hereof, the Company shall cease making Severance Payments then or thereafter due from the Company to Executive until a court or arbitrator, in accordance with Sections 6 and/or 7 of this Agreement, determines whether Executive violated Section 4 or Section 7 hereof, as applicable.

• Change-of-Control Severance Payments may also be subject to reduction required to avoid potentially adverse taxation under Internal Revenue Code Section 280G as described under the caption “Section 280G” below.

• Any Change-of-Control Severance Payments shall be less required tax deductions and withholdings and shall be paid in a lump sum on the 53rd day following your date of termination or such later date as is required to avoid potentially adverse taxation under Internal Revenue Code Section 409A as described under the caption “Section 409A” below.

• Severance Payments shall be made of 1/3 by June 30 of the year of retirement, 1/3 on the following January 1st and the final 1/3 on the next January 1st.

• Employee shall make it known to the Employer if he or she prefers to have their Severance Payment(s) deposited or delivered in a different manner than while employed.

More Definitions of Severance Payments

Severance Payments is defined in Section 8.4 above.

Severance Payments means those payments described in Section 10.1 hereof.

Severance Payments means those payments described in Section 4.1 hereof.

Severance Payments means the payments described in Section 3.02.

Severance Payments shall have the meaning set forth in Section 3(b)(ii).

Severance Payments means the portion of payment, which is awarded for the (premature) termination of the employment or service agreement. Rules or the use of Severance Payments applies as set out for the respective locations and/or categories of employees as applicable from time to time, e.g. legal entitlements, internal guidelines or works council agreements.

Severance Payments means those payments described in Section 7.2 hereof.