Severance Program definition

Severance Program means that certain severance program by and between the Debtors and certain current executive and senior management employees, in effect as of the date hereof, including any letters, contracts, agreements, or obligations with respect thereto.
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Severance Program means a program providing certain severance benefits that are paid while the program’s participants are on a severance leave of absence that is determined by the Plan Administrator to qualify for recognition as Service under Section B.3 and Credited Service under Section B.4 of Article B.
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Severance Program means the program adopted by the Government and GWCL generally describing the terms and conditions for separation of the employees of GWCL, including severance payments thereunder;
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Examples of Severance Program in a sentence

  • Benefits coverage will cease on the last day of the month of an employee’s termination from employment, except that qualifying employees who are separated under Article 19 may continue benefits coverage and Employer contributions thereto in accordance with the provisions of that article and of Appendix F – Severance Program.

  • Severance Program The employer shall offer a voluntary severance benefit (the “Severance Program”) to ATRs who volunteer to resign/retire and who execute an appropriate release in a form prescribed by the Board (DOE) and subject to legal requirements.

  • The Parties agree that the primary purpose of a Severance Program is to recognize the contribution of Employees, to allow Employees to leave the system with dignity, to minimize disruption, and to ensure the quality and continuity of services.

  • Other than employees who have agreed in writing to resign from the DOE, employees who are ATRs as of June 1, 2014 who volunteer for the Severance Program shall receive a sev- erance payment according to the following schedule: One (1) week of pay for ATRs with three (3) years of ser- vice or more, but less than four (4) years of service, as of the date of ratification of this Agreement.

  • Voluntary Employee Separation Agreement (VESP) -- 2016 VOLUNTARY EMPLOYEE SEVERANCE PROGRAM The parties agree to implement a Voluntary Employee Severance Program (“VESP”) as described as follows: Objective Xxxxx Xxxx College ("HFC") has adopted the Voluntary Employee Severance Program ("VESP") to afford eligible employees the opportunity to resign voluntarily in exchange for the payment of benefits.

  • The parties agree to implement a Voluntary Employee Severance Program (“VESP”) as described as follows: Objective Xxxxx Xxxx College ("HFC") has adopted the Voluntary Employee Severance Program ("VESP") to afford eligible employees the opportunity to leave voluntarily in exchange for the payment of benefits.

  • The Employee acknowledges that he/she has been advised in writing to consult with an attorney before signing this Severance Program Agreement.

  • In the event that further reductions in the numbers of Employees are required following operation of Option I above, or in the event that the Employer has chosen not to offer severance in accordance with Option I above, then the Employer will offer the following Standard Severance Program to eligible Regular Employees.

  • The period during which excessed supervisors may volunteer to separate from the DOE in accordance with the terms of the Severance Program shall commence on the 30th day and shall terminate at 5 p.m. on the 60th day following the Union’s ratification of this Agreement.

  • Any employee that participated in the Voluntary Employee Severance Program is ineligible for this benefit.


More Definitions of Severance Program

Severance Program means the employee severance program implemented by the Debtors and approved by the Bankruptcy Court on August 19, 2008.
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Severance Program has the meaning specified in Section 8.9(e)(v).
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Severance Program means the program(s) listed on Exhibit A, as amended and in effect from time to time, that provide the specific benefit entitlement(s) available under this Plan to a Participant at the time of the Qualifying Termination. The terms of each such Severance Program shall be incorporated herein and made a part hereof. No Participant shall be entitled to Severance Benefits under more than one Severance Program and the Administrator shall have sole discretion to determine which Severance Program shall apply to a Participant.
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Severance Program means the Post-Petition Modified Severance Program approved by the Court in the Chapter 11 Cases by its Order Approving Debtors’ Key Employee Retention Plan and Post-Petition Modified Severance Program and Authorizing Payments to Be Made Pursuant to the Terms Thereunder Without Further Order of the Court entered on May 19, 2004.
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Severance Program means the Special Temporary Severance Program for Certain Regular, Full-Time, Non-Union, Salaried Employees of Exeter Drilling Company and Subsidiaries, as in effect on the date of this Agreement.
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Severance Program means the program(s) listed on Exhibit A, as amended and in effect from time to time, that provide the specific benefit entitlement(s) available under this
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Related to Severance Program

  • Severance Plan means any severance plan maintained by the Company that is applicable to the Participant.

  • Employee Assistance Program means an established program for employee assessment, counseling, and referral to an alcohol and drug rehabilitation program.

  • Executive Severance Plan means the Company’s Senior Executive Employee Severance Pay Plan, as in effect from time to time.

  • Health benefits plan means a benefits plan which pays or

  • Compensation and Benefits Programs means all compensation and benefit plans, policies, and programs of the Debtors, and all amendments and modifications thereto, applicable to the Debtors’ employees, former employees, retirees, and non-employee directors and the employees, former employees and retirees of their subsidiaries, including all savings plans, retirement plans, health care plans, disability plans, and incentive plans, deferred compensation plans, and life, accidental death, and dismemberment insurance plans.

  • Separation Plan means the Company’s Separation Plan Amended and Restated Effective August 13, 2006, as may be amended from time to time or any successor plan, program, arrangement or agreement thereto.

  • 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.

  • Health Benefits means health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits.

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

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

  • 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 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.

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

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

  • Medical Benefits means medical, optical, or dental benefits, including, but not limited to, hospital and physician services, prescription drugs, and related benefits.

  • Change in Control Benefits means the following benefits:

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • 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).

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

  • Dependent care assistance program means a benefit plan

  • Company Incentive Plan shall have the meaning assigned to it in Section 1.7 hereof.

  • Incentive Compensation Plan means any plan, agreement or other arrangement that provides for the grant or issuance of equity or equity-based awards and that is now in effect or is hereafter adopted by the Company or the Manager for the benefit of any of their respective employees or other service providers (including directors, advisers and consultants), or the employees or other services providers (including directors, advisers and consultants) of any of their respective Affiliates or Subsidiaries.

  • Incentive Compensation Plans means annual incentive compensation plans and long‑term incentive compensation plans of the Company, which long‑term incentive compensation plans may include plans offering stock options, restricted stock and other long‑term incentive compensation.

  • 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.

  • Medical Assistance Program means the medical assistance provided pursuant to Chapter 319v of the Connecticut General Statutes (CGS) and authorized by Title XIX of the Social Security Act. The program is also referred to as Medicaid.

  • Medical Benefits Schedule means the Medicare Schedule of Benefits produced by the Department of Health to which all fees and benefits relate for inpatient hospital services.