Special Severance Period definition

Special Severance Period means the period (i) beginning on April 1, 2015; and (ii) ending on the earlier of (A) the effective date of a Change of Control or (B) March 31, 2017.
Special Severance Period means the period (i) beginning on the date (the “Commencement Date”) that a new Person (other than a Person who was employed by any EXCO Party as of the Effective Date of this Agreement) is hired as Chief Executive Officer of EXCO; and (ii) ending on the earlier of (A) the effective date of a Change of Control or (B) the date that is two years following the Commencement Date.
Special Severance Period means a period of time, commencing on the Termination Date, equal to two months for each calendar year through which the Employee shall have been employed hereunder; provided however, that in no event shall such period have a total duration of less than one year from the Termination Date or more than two years from the Termination Date; and provided, further, that in no event shall such period have a total duration of less than the severance period applicable under Section 7.2(b) above.

Examples of Special Severance Period in a sentence

  • CMRL is following ―IGBC Metro Systems‖ for achieving green building implementation in our metro systems.

  • You will be eligible during the first ninety (90) calendar days of your employment with the Company (with employment commencing on the Closing) (the “Special Severance Period”) for a Special Severance Payment, payable only in the event that the Company terminates your employment during the Special Severance Period without “Cause” (as defined below) and not on account of your death, “Disability” (as defined below) or for Cause.

  • The Executive shall continue to vest in all unvested stock awards outstanding as of the date of termination ofthe Executive’s employment as if the Executive's employment had continued during the Special Severance Period and all stock options held by the Executive and outstanding as of the date of termination of Executive’s employment shall remain outstanding as if the Executive's 6 employment had continued during the Special Severance Period.

  • The Executive shall continue to vest in all unvested stock awards outstanding as of the date of termination of the Executive’s employment as if the Executive's employment had continued during the Special Severance Period and all stock options held by the Executive and outstanding as of the date of termination of Executive’s employment shall remain outstanding as if the Executive's 6employment had continued during the Special Severance Period.

  • For the avoidance of doubt, nothing in this letter agreement shall limit your rights under the Severance Policy in the event the Company were to terminate your employment for any reason other than for Cause on or at any time during the twelve (12)-month period following a Change in Control that occurs following completion of the Special Severance Period.

  • Without limiting the generality of the foregoing, it is specifically provided that the Executive shall notaccrue additional benefits under any pension plan of the Corporation (whether or not qualified under Section 401(a) of the Internal Revenue Code of 1986, as amended) during the Special Severance Period.

  • Each Covered Employee whose employment is terminated after the Special Severance Period shall be eligible to participate in Purchaser’s regular separation and severance pay programs on the same terms and conditions as other similarly-situated employees of Purchaser.

  • The Executive shall continue to vest in all unvested stock awards outstanding as of the date of termination of the Executive’s employment as if the Executive's employment had continued during the Special Severance Period and all stock options held by the Executive and outstanding as of the date of termination of Executive’s employment shall remain outstanding as if the Executive's employment had continued during the Special Severance Period.


More Definitions of Special Severance Period

Special Severance Period means the period specified in Section 8(g) below.
Special Severance Period means a period of time, commencing on the Termination Date, equal to six (6) months for each calendar year through which the Executive shall have been employed by the Employer; provided, however, that in no event shall such period have a total duration of less than the severance period applicable under Section 7.2(b) above. At the Executive’s option, any payment to which he is entitled under this section will be paid in a single lump sum within thirty (30) days after the Termination Date, or may be paid out in payments on a monthly, quarterly, annual, or other periodic basis as selected by the Executive. Any payments due or benefits owed to the Executive by the Employer under this Section 7.3(c) shall be paid or made available by the Employer to the Executive’s legal representative or heirs, as the case may be, upon the Executive’s death or Disability.

Related to Special Severance Period

  • Severance Period means the period of time commencing on the date of the first occurrence of a Change in Control and continuing until the earlier of (i) the second anniversary of the occurrence of the Change in Control and (ii) the Executive’s death.

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

  • Change in Control Benefits means the following benefits:

  • 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 Payment means any amount paid by a board to or in behalf of a superintendent on early termination of the superinten- dent’s contract that exceeds the amount earned by the superinten- dent under the contract as of the date of termination, including any amount that exceeds the amount of earned standard salary and benefits that is paid as a condition of early termination of the con- tract. Payments to a former superintendent who remains employed by a district in another capacity or contracts with a district to pro- vide the district services may be severance payments in whole or in part if the payments are compensation for the early termination of a prior employment agreement. Severance payments include any payment for actual or threatened litigation involving or related to the employment contract. Education Code 11.201(c); 19 TAC 105.1021(a)(1)

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

  • Change in Control Benefit means the benefit described in Section 2.4.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Severance Amount means:

  • Compensation Accrued at Termination means the following:

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Leave Salary means the monthly amount paid by the University to an employee who is on leave.

  • Qualifying Termination means a termination of the Executive’s employment either (i) by a Company Group member without Cause (excluding by reason of Executive’s death or Disability) or (ii) by the Executive for Good Reason, in either case, during the Change in Control Period (a “Qualifying CIC Termination”) or outside of the Change in Control Period (a “Qualifying Non-CIC Termination”).

  • Severance Date means the date on which an Executive incurs a Severance, which shall be the date of termination as determined under Section 5.2.

  • Severance Term means the six (6) month period following Employee’s termination by the Company without Just Cause (other than by reason of death or Disability) or by Employee for Good Reason; provided, that if such termination occurs within twelve (12) months following a Change in Control, the Severance Term shall be the twelve (12) month period following such termination.

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Benefit Continuation Period means the period beginning on the Date of Termination and ending on the last day of the month in which occurs the earlier of (i) the 24-month anniversary of the Date of Termination and (ii) the date on which you elect coverage for you and your covered dependents under substantially comparable benefit plans of a subsequent employer.

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

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

  • Nonqualifying Termination means a termination of the Executive’s employment (1) by the Company for Cause, (2) by the Executive for any reason other than a Good Reason, (3) as a result of the Executive’s death or (4) by the Company due to the Executive’s absence from his duties with the Company on a full-time basis for at least 180 consecutive days as a result of the Executive’s incapacity due to physical or mental illness.

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive's employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company and its Affiliates for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained; and (v) all other payments and benefits to which the Executive (or in the event of the Executive's death, the Executive's surviving spouse or other beneficiary) may be entitled as compensatory fringe benefits or under the terms of any benefit plan of the Employer, including severance payments under the Employer's severance policies and practices in the form most favorable to the Executive that were in effect at any time during the 180-day period prior to the Effective Date. Payment of Accrued Benefits shall be made promptly in accordance with the Employer's prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits.

  • Extended benefit period means a period which:

  • Change in Control Period means the period beginning three (3) months prior to a Change in Control and ending twelve (12) months following a Change in Control.

  • Extended benefits means benefits, including benefits payable to federal civilian employees and to ex-servicemen under 5 U.S.C. Chapter 85, payable to an individual under the provisions of this section for weeks of unemployment in his eligibility period.

  • Post-Employment Period shall have the meaning set forth in Article 8.

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.