Severance Bonus. Employee will be paid a bonus (the “Severance Bonus”), within seven (7) days following the effective date of termination, equal to 100% of the average of (A) the annual bonus he was paid for year immediately preceding the termination and (B) his target bonus under the Company’s then-current bonus plan if any, less standard payroll deductions and withholdings.
Severance Bonus. 21.01 For the purpose of this Article, an eligible employee is an employee who has worked for more than 10,000 hours in the continuous service of the Employer.
Severance Bonus. In the event that between the date hereof and December 31, 2003, Employee's employment with the Company is terminated other than due to death, "Disability," "Voluntary Termination" or "Cause," Employee shall be entitled to a Severance Bonus of $50,000, payable at the rate of $10,000 per month on or before the 10th day of each month following the month in which Employee's employment is terminated. In the event Employee's employment is not terminated by the Company on or before December 31, 2003, or Employee's employment is terminated prior to such date due to death, Disability, Voluntary Termination or Cause, then Employee shall not be entitled to a Severance Bonus. For purposes of this Section 2, the following definitions shall apply:
Severance Bonus. A. For severance purposes, years of experience for retirement purposes will be in accordance with STRS retirement rules. An individual who retires with twenty-seven
Severance Bonus. A. The Board shall grant each employee a severance bonus which shall be paid in full within sixty (60) days following actual retirement. The severance bonus shall be computed as follows:
Severance Bonus. A. For severance purposes, years of experience for retirement purposes will be in accordance with STRS retirement rules. An individual who retires with twenty- seven (27) to thirty (30) years of experience is eligible for a severance bonus of fifteen thousand dollars ($15,000). An individual retiring with thirty-one (31) years of experience is eligible for a severance bonus of fourteen thousand dollars ($14,000). An individual retiring with thirty-two (32) years of experience is eligible for a severance bonus of thirteen thousand dollars ($13,000). An individual retiring with thirty-three (33) years of experience is eligible for a severance bonus of twelve thousand dollars ($12,000). An individual retiring with thirty-four (34) years of experience is eligible for a severance bonus of eleven thousand dollars ($11,000).
Severance Bonus. A. The Board shall provide each cafeteria employee with a severance bonus which shall be paid in full within ten (10) days following the actual retirement of the cafeteria employee. The amount of the severance bonus shall be computed in the following fashion:
Severance Bonus. Within five (5) business days after the Effective Date of this Resignation Agreement (as defined in Section 10(d)), the Company will pay you a lump sum of $100,000, subject to standard payroll deductions and withholdings (the “Severance Bonus”). This Severance Bonus is in lieu of any 2007 pro-rated bonus you would have received pursuant to the Company’s Variable Compensation Plan. The Severance Bonus payment set forth in this Section 2(b) is intended to be a separate payment (as defined in Treasury Regulation 1.409A-2(b)(2)) from the payments described in Section 2(a) above for purposes of the “short term deferral rule” under Treasury Regulations Section 1.409A-1(b)(4).
Severance Bonus. An amount calculated as follows: (i) the number of months in the Severance Period, multiplied by (ii) one-twelfth of the Average Bonus. “Average Bonus” means the average of those cash bonuses awarded to Executive, if any, (including, if applicable, any completed calendar year for which the bonus has been earned but has not yet been paid), for each of the two calendar years completed immediately preceding the year in which such termination occurs. If Executive has been employed for less than two completed calendar year cycles, the Average Bonus will be calculated at 50% of the then Base Salary amount.
Severance Bonus. The Company shall pay you an additional severance amount in the total amount of $230,220, which amount reflects your calendar year 2023 annual bonus, pro-rated for the number of days you are employed in such calendar year (the “Severance Bonus”). The Severance Bonus will be paid in a single payment as part of the Company’s regular payroll no later than the first regularly-scheduled payroll date following the sixtieth (60th) day after the Separation Date, provided that this Agreement and the Separation Date Release have each become effective by their respective terms by such date.
