Transition Pay definition

Transition Pay. Plan” means any transition or severance pay plan of the Company in effect as of the Effective Date of this Agreement, as well as any successor or replacement plan.
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Examples of Transition Pay in a sentence

  • Don’t mix sunny and partially shaded areas because of substantially reduced water usage in shade.

  • In these circumstances, this Agreement shall terminate on the Executive’s last day of active employment, and the Executive will not be eligible for payments or benefits under this Agreement while receiving or while eligible to receive pay or benefits under the Transition Pay Plan, or at any time thereafter.

  • For purposes of this Agreement, the Executive’s employment will be considered terminated if the Executive is informed prior to a Change in Control that the Executive’s employment is terminated under the terms of Company’s Transition Pay Plan, and such termination was not in contemplation of a Change in Control.

  • Executive shall not be eligible for any benefits under the Sears Holdings Corporation Master Transition Pay Plan or any successor severance plan or program.

  • The Transition Pay, less applicable withholdings and deductions, will be paid by the University within 30 days of the Qualifying Faculty Member’s complete performance of the Faculty Contract for the current academic term.

  • No portion of the Transition Pay is eligible for salary deferral under the University Employee Retirement Plan nor is the Transition Pay compensation for purposes of calculating the University’s contribution to the Retirement Plan.

  • No portion of the Transition Pay is eligible for salary deferral under the ORU Employee Retirement Plan nor is the Transition Pay compensation for purposes of calculating ORU’s contribution to the Retirement Plan.

  • Notwithstanding anything to the contrary in this Section 13, the Severance Benefits provided in Section 4 are in lieu of any benefits to which the Executive would be entitled following the termination of his or her employment pursuant to any Employment Agreement (except as provided in subsection 4(d)(1)) or pursuant to the Company’s Transition Pay Plan or any successor to or replacement of such Plan.

  • The Transition Pay, less applicable withholdings and deductions, will be paid by ORU within 30 days of the Qualifying Faculty Member’s complete performance of the Faculty Contract for the current academic term.

  • For purposes of this Agreement, the Executive’s employment will be considered terminated if the Executive is informed prior to a Change in Control that the Executive’s employment is terminated under the terms of Corporation’s Transition Pay Plan, and such termination was not in contemplation of a Change of Control.

Related to Transition Pay

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

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

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

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

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

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

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

  • Short-Term Deferral Period means the period ending on the later of the 15th day of the third month following the end of the Executive’s tax year in which the separation from service occurs and the 15th day of the third month following the end of the Company’s tax year in which the separation from service occurs; and

  • Termination Payments has the meaning specified in Section 10(a).

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

  • Severance means the complete separation and dismemberment of the part from the body.

  • Compensation Arrangement means any direct or indirect compensatory payment or other financial agreement, arrangement or understanding with any person or entity other than the Corporation, including any agreement, arrangement or understanding with respect to any direct or indirect compensation, reimbursement or indemnification in connection with candidacy, nomination, service or action as a nominee or as a director of the Corporation;

  • Section 409A Deferred Compensation means compensation provided pursuant to an Award that constitutes nonqualified deferred compensation within the meaning of Section 409A.

  • Change in Control Benefits means the following benefits:

  • Short-Term Payout means the payout set forth in Section 4.1.

  • Section 409A Payment Date means the earlier of (a) the date of Executive’s death or (b) the date that is six months after the date of termination of Executive’s employment with the Company.

  • Contingent Compensation Payment means any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company.

  • Cafeteria plan means a written plan under which all participants are employees, and the participants may choose among two or more benefits consisting of cash and qualified benefits.

  • Deferred Compensation Agreement means an agreement to participate and to defer compensation between a Participant and the Company in such form and consistent with terms of the Plan as the Company may prescribe from time to time.

  • Additional Benefits means those benefits in addition to the rights and remedies available under the Australian Consumer Law.

  • Relevant Benefits means any pension (including an annuity), lump sum or gratuity given or to be given on retirement or on death, or by virtue of a pension sharing order or provision, or in anticipation of retirement, or, in connection with past service, after retirement or death;

  • Severance Amount means:

  • Section 409A means Section 409A of the Code and the regulations and other guidance promulgated thereunder.