Severance Plan definition
Examples of Severance Plan in a sentence
In the event of a Change of Control, the vesting of the LTIP Units shall be governed by the Severance Plan, as in effect at the time of such Change of Control, or, if no such Severance Plan is in place, the Severance Plan last in effect prior to such Change of Control.
Executive Severance Plan (the “Plan”), your severance entitlements shall be determined in accordance with the provisions of the Plan pertaining to a Change in Control Termination and you will not be entitled to the Severance Benefits as defined in clause 28.1 herein.
For the avoidance of doubt, no portion of the Cash Signing Bonus shall be required to be repaid in the event of your death or Disability (as defined in the applicable Severance Plan).
In the event of the Participant’s termination of employment or service with the Company, the Partnership, SmartStop Advisors, or any other Affiliate for any reason, the vesting of the LTIP Units, if any, shall be governed by the Severance Plan as in effect at the time of such termination, or, if no such Severance Plan is then in place, the Severance Plan last in effect prior to such termination.