Severance Multiple means 2.50; provided, however, that notwithstanding the foregoing, for each full month that elapses during the period beginning on the date the Executive attains age 63 and ending on the date the Executive attains age 65, the Severance Multiple shall be reduced by an amount equal to the product of (i) 1/24 and (ii) the excess of (A) the original Severance Multiple set forth above over (B) 1.0 (rounded to the nearest hundredth).
Severance Multiple has the meaning set forth on the first page of the Agreement.
Severance Multiple means two; provided, however, that the Severance Multiple shall mean three if Executive’s employment hereunder shall terminate on or within two years after the occurrence of a Change in Control.
Examples of Severance Multiple in a sentence
In addition, the Director shall be entitled to a Severance Payment determined and paid in accordance with Section 7(a)(i) above; PROVIDED, HOWEVER, the Severance Multiple shall be two (2).
In addition, in consideration for the Director's agreement for honoring the non-compete and non-solicitation covenants in Section 10 hereof for a period of one (1) year following the Date of Termination resulting from this Section 7(c), the Company shall pay the Director a non-compete payment (the "Non-Compete Payment") equal to the Severance Payment determined with a Severance Multiple equal to one (1).
More Definitions of Severance Multiple
Severance Multiple means 1
Severance Multiple means the Participant’s Severance Period, expressed in years or fractions thereof (e.g., a Severance Period of two (2) years results in a Severance Multiple of two (2)). The Severance Multiple may be different for periods outside of the Change of Control Period and within the Change of Control Period.
Severance Multiple has the meaning given to such term in Section 1.06 hereof.
Severance Multiple means the number applicable to a Participant’s position as set forth on Exhibit A, as amended from time to time.
Severance Multiple has the meaning set forth in the Agreement.
Severance Multiple means, with respect to any Eligible Employee, the highest of the following multiples applicable to such person:
Severance Multiple means three.