Severence definition

Severence means the conversion of a joint tenancy into a tenancy in common
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Examples of Severence in a sentence

  • If Employee’s employment is terminated for any reason by either party, other than as a result of termination by Employer for Cause (as defined at Article VII.B), a termination by a voluntary unilateral decision by Employee without Cause (as defined at Article VII.A) or a termination as a result of Employee’s death or Disability, Employee shall be entitled to: (1) any applicable Severence, as such term is defined below, (2) all amounts set forth in items (1), (2) and (3) of Article IV.B.

  • In the event the Executive is not entitled to the Severence Payment, the release and waiver set forth in the foregoing sentence shall be null and void and the Executive shall be entitled to receive severance benefits pursuant to the terms of the Company's standard severance program, as the same may be amended from time to time.

  • In the event the Executive is entitled to the Severence Payment, the Executive hereby knowingly and voluntarily releases and waives any claim or right the Executive ever had, now has, or may have or claims to have against the Company to receive severance benefits pursuant to the terms of the Company's standard severance program, as the same may be amended from time to time.

  • The provisions set out in the Schedule to this Agreement on Executive Severence Arrangements shall apply to this Agreement and the Executive is one of the Executives for the purposes of the Schedule.

  • Severence equal to 2 months base salary will be authorized in this event.

  • Severence payment shall be made in full within 5 days of termination.

  • The provisions set out in Schedule 1 to this Agreement on Executive Severence Arrangements shall apply to this Agreement and the Executive is one of the Executives for the purposes of Schedule 1.

  • Section 3 of the Severence Agreement provides for the payment of severence benefits in the event of the termination of your employment under certain circumstances, subject to and conditioned upon your execution and non-revocation of a general release of claims by you against the Company and its subsidiaries and affiliates.

  • Executive acknowledges and represents that, except for the Severence Payments set forth in Section 1.(a).

  • Severence pay and all benefits associated with severance, will only be earned and payable after the employee has been with the company 182 days from the date of hire noted.

Related to Severence

  • Serious illness means a medical illness or physical

  • Severe or "extraordinary" condition is defined as serious or extreme and/or life threatening.

  • Behavioral health disorder means either a mental disorder

  • Discrimination on the basis of disability means any distinction, exclusion or restriction on the basis of disability which has the purpose or effect of impairing or nullifying the recognition, enjoyment or exercise, on an equal basis with others, of all human rights and fundamental freedoms in the political, economic, social, cultural, civil or any other field. It includes all forms of discrimination, including denial of reasonable accommodation;

  • Mental, Nervous or Psychological Disorder means a mental or nervous health condition including, but not limited to: anxiety, depression, neurosis, phobia, psychosis; or any related physical manifestation.