Cash Severance Benefit definition

Cash Severance Benefit means any severance benefit paid in cash due to a Qualifying Separation from Service in accordance with the terms of the Policy.
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Cash Severance Benefit means one or more cash payments by the Company to, or on behalf of, a Participant on account of the employee’s termination of employment with the Company or in lieu of severance benefits. Such payments may be paid in a lump sum or over time. The manner by which the amount of such benefit is determined shall not affect the characterization of the benefit as a Cash Severance Benefit; provided, however, that salary, vacation pay and bonuses that are earned but unpaid as of the date of such termination of employment and distributions from the PetSmart, Inc. SaveSmart 401(k) Plan and/or the PetSmart, Inc. Amended and Restated Deferred Compensation Plan shall not constitute Cash Severance Benefits. For example, payments pursuant to Section 4(a) shall constitute Cash Severance Benefits.
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Cash Severance Benefit means the severance pay, if any, payable to a Severance Benefit Employee as described in Section 3.1.
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Examples of Cash Severance Benefit in a sentence

  • The basis for the Cash Severance Benefit upon a termination is the base salary for 2021 as of December 31, 2021, plus the target cash bonus opportunity for 2021, noting that the annual bonuses for the 2020 calendar year were all paid prior to December 31, 2021.

  • Burke Cash Severance Benefit (1)435,830 435,830 435,830 — 435,830Restricted Shares (2)— 967,319 967,319 967,319 967,319Performance-Based Restricted Shares (3)— 695,000 695,000 1,390,000 1,390,000Unvested Stock Options (4)— 91,790 91,790 91,790 91,790Total$ 435,830 $ 2,189,939 $ 2,189,939 $ 2,449,109 $ 2,884,939 Brandon J.

  • For example, a part-time Covered Employee working 20 hours a week and earning $20 per hour is eligible for 50% of the Cash Severance Benefit that a full-time Covered Employee who is scheduled to work 40 hours a week and earning $20 per hour would receive.

  • Cash Severance Benefit for all other (non-CEO) officer participants (except for VPs) is twelve (12) months.

  • If a Covered Employee’s regularly scheduled hours are reduced by 50% or more per week, as determined by the Institute, the employee may either (i) remain employed and receive a prorated Cash Severance Benefit based on the percentage reduction in the Covered Employee’s regularly-scheduled hours; or (ii) decline the reduction of his or her weekly scheduled hours, have their employment terminated, and receive his or her full Cash Severance Benefit.

  • Clifford Cash Severance Benefit (1)1,750,485 1,750,485 1,750,485 — 1,750,485Restricted Shares (2)— 3,320,689 3,320,689 3,320,689 3,320,689Performance-Based Restricted Shares (3)— 1,529,000 1,529,000 3,058,000 3,058,000Unvested Stock Options (4)— 550,732 550,732 550,732 550,732Total$ 1,750,485 $ 7,150,906 $ 7,150,906 $ 6,929,421 $ 8,679,906 Steven T.

  • Cash Severance Benefit for Chief Executive Officer is fifteen (15) months.

  • Snyder Cash Severance Benefit (1)779,762779,762779,762—779,762Restricted Shares (2)—1,548,3701,548,3701,548,3701,548,370Performance-Based Restricted Shares (3)—973,000973,0001,946,0001,946,000Unvested Stock Options (4)—257,010257,010257,010257,010Total$ 779,762$ 3,558,142$ 3,558,142$ 3,751,380$ 4,531,142 Desiree A.

  • If (a) a Participant terminates his or her employment with the Employer due to a Constructive Termination, or (b) the Employer terminates the Participant’s employment for a reason other than Cause or the Participant’s death or Disability, then, subject to the Participant’s compliance with Section 6, the Participant will receive the following Severance Benefits: 4.1.1 Cash Severance Benefit.

  • Specifically, after MDE determined that Mr. Wilson had failed to certify that the two properties complied with lead paint risk reduction standards prior to admitting new tenants, as required, it issued an administrative complaint and order requiring Mr. Wilson to bring all occupied properties into compliance, as well as assessing an administrative penalty in the amount of $30,000.


More Definitions of Cash Severance Benefit

Cash Severance Benefit means the cash severance benefit applicable to a Participant as set forth in such Participant’s Participation Notice.
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Cash Severance Benefit means an amount equal to the product of the Severance Multiplier and [the sum of] your Base Salary [and your Target Bonus on the Date of Termination].
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Cash Severance Benefit means one or more cash payments by Nuvelo to, or on behalf of, a Participant on account of the employee’s termination of employment with Nuvelo or in lieu of severance benefits. Such payments may be paid in a lump sum or over time. The manner by which the amount of such benefit is determined shall not affect the characterization of the benefit as a Cash Severance Benefit; provided, however, that salary, vacation pay, and bonuses that are earned but unpaid as of the date of such termination of employment and distributions from any Elective Deferral Plans as defined in Section 2(b) shall not constitute Cash Severance Benefits. For example, payments pursuant to Section 5(b) shall constitute Cash Severance Benefits.
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Cash Severance Benefit means the severance benefit described in Section 5(a)(i) of the Plan.
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Related to Cash Severance Benefit

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

  • 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 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.

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

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

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

  • Severance Amount means:

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

  • Termination Benefit means the benefit set forth in Article 7.

  • Change in Control Benefits means the following benefits:

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

  • Retirement Benefit means the benefit set forth in Article 5.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Retention Bonus means the amount equal to:

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

  • Separation Payment means any lump sum cash payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Normal Retirement Benefit means an annual benefit equal to One Hundred Fifty Thousand Dollars and No/100 ($150,000.00) per year, payable in accordance with the terms of this Agreement. Beginning on the thirteenth month that the Normal Retirement Benefit is paid, and continuing thereafter until paid in full, the Normal Retirement Benefit shall be increased annually by three percent (3%) from the previous year’s Normal Retirement Benefit amount to account for cost of living increases.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • Severance Period means the period of time commencing on the date of an occurrence of a Change of Control and continuing until the earlier of (i) the date which is one and one-half years following the occurrence of the Change of Control, and (ii) the Executive's death.

  • Accrued Bonus means the bonus, which may be negative or positive, which is calculated in the manner set forth in Section V.A.

  • 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.

  • Final compensation of a member means:

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.