Termination Benefit definition

Termination Benefit means the benefit set forth in Article 7.

Termination Benefit means the benefit set forth in Section 4.4.

Termination Benefit means the benefit set forth in Section 6.2.

Examples of Termination Benefit in a sentence

• The payout shall not exceed the lesser of the Participant's Account Balance, calculated as if such Participant were receiving a Termination Benefit, or the amount reasonably needed to satisfy the Unforeseeable Financial Emergency.

• Termination Benefit means the benefit payable to a Participant under the Plan following the Participant’s Separation from Service prior to Retirement.

• A Participant who is entitled to receive a Termination Benefit shall receive payment of such benefit in a single lump sum.

• Upon the Participant’s Separation from Service for reasons other than death or Retirement, he or she shall be entitled to a Termination Benefit.

• Upon the Participant’s Separation from Service for reasons other than death, Disability or Retirement, he or she shall be entitled to a Termination Benefit.

More Definitions of Termination Benefit

Termination Benefit means the benefit set forth in Article 5 which shall be paid following a Participant’s Termination of Employment.

Termination Benefit means the benefit described in Article 7.

Termination Benefit means the benefit described in Article 5.

Termination Benefit means the termination benefit provided for in Section 7.2.

Termination Benefit means the lump sum amount payable to an Eligible Employee who ceases to be an Employee pursuant to Article 6.5.

Termination Benefit means the benefit set forth in Article 7 of this Plan.

Termination Benefit means the amount determined in accordance with subsection (a) below. If Executive is entitled to a Termination Benefit, it shall be paid to Executive no later than the 60th day following the date on which his employment Terminates. The Termination Benefit shall be an amount equal to (i) 2 times Executive’s annual base salary for the fiscal year of Newpark immediately preceding the fiscal year in which the Start Date occurs plus (ii) 2 times the higher of: a) the highest bonus actually received by the Executive under the 2010 Annual Cash Incentive Plan (or its predecessor plan) of Newpark in the two years immediately preceding the fiscal year of Newpark in which the Start Date occurs; or b) the “Target Award Opportunity” to which Executive would be entitled under the 2010 Annual Cash Incentive Plan of Newpark for the fiscal year of Newpark immediately preceding the fiscal year in which the Start Date occurs.