Additional Severance Period definition

Additional Severance Period has the meanings specified in Sections 5(a) ---------- --------- ------ and 5(b) hereof.
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Examples of Additional Severance Period in a sentence

  • The amounts payable during the Additional Severance Period pursuant to this Section 1(e) shall be reduced by the amount of any compensation Executive receives with respect to any other employment during such period.

  • Therefore, you hereby agree to notify the Company as soon as you obtain new employment, if such employment will commence during the Initial Severance Period or the Additional Severance Period.

  • The Additional Severance shall be paid in equal installments through the Additional Severance Period in accordance with the Company’s payroll practices in effect on the Effective Date subject to the Final Release becoming effective and irrevocable.

  • Employer may (in its sole discretion) elect to extend the Initial Severance Period for one additional one-year period (the "Additional Severance Period") by providing Executive written notice of such extension no less than 60 days prior to the last day of the Initial Severance Period and paying Executive an additional amount equal to his Annual Base Salary plus the Prior Year Bonus, payable in equal installments on the Employer's regular salary payment dates.

  • The amounts payable during the Additional Severance Period pursuant to this Section 7(c) shall be reduced by the amount of any compensation Executive receives with respect to any other employment during the such period.

  • The Company’s obligation to make severance payments during the Additional Severance Period ceases immediately and in full upon your commencement of new employment.

  • In the event that the Executive dies during the Initial Severance Period or the Additional Severance Period, the Company shall pay to such person as the Executive shall have designated in a notice filed with the Company, or, if no such person shall have been designated, to his estate, a lump sum amount equal to the payments that would have been due to the Executive under this Agreement from the date of his death until the end of the Additional Severance Period.

  • During the Initial Severance Period and the Additional Severance Period (the “Consulting Period”), the Executive shall provide advice and consultation to the Company and such other services mutually agreed to by the Executive and the Company (the “Consulting Services”).

  • If you timely elect continued coverage under COBRA, the Company, as part of this Agreement and as an additional severance benefit, will reimburse you for your COBRA premiums during the Initial Severance Period and the Additional Severance Period.

Related to Additional Severance Period

  • Severance Period means the period of time commencing on the date of the first occurrence of a Change in Control and continuing until the earlier of (i) the second anniversary of the occurrence of the Change in Control and (ii) the Executive’s death.

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

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

  • Change in Control Benefits means the following benefits:

  • 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 Period means the period beginning three (3) months prior to a Change in Control and ending twelve (12) months following a Change in Control.

  • Severance Amount means:

  • Qualifying Termination means a termination of the Executive’s employment either (i) by a Company Group member without Cause (excluding by reason of Executive’s death or Disability) or (ii) by the Executive for Good Reason, in either case, during the Change in Control Period (a “Qualifying CIC Termination”) or outside of the Change in Control Period (a “Qualifying Non-CIC Termination”).

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

  • Severance Multiplier means, with respect to any termination of Employee’s employment hereunder by the Company without Cause or by Employee with Good Reason, 1; provided, however, that in the event such termination occurs within the two (2) year period following a Change in Control, the Severance Multiplier shall instead equal 2.

  • 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.

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

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

  • Extended benefit period means a period which:

  • 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.

  • Severance Term means the twenty-four (24) month period following Executive’s termination by the Company without Cause (other than by reason of death or Disability) or by Executive for Good Reason.

  • Compensation Accrued at Termination means the following:

  • Extended benefits means benefits, including benefits payable to federal civilian employees and to ex-servicemen under 5 U.S.C. Chapter 85, payable to an individual under the provisions of this section for weeks of unemployment in his eligibility period.

  • Additional Compensation has the meaning set out in Section 11.3(1).

  • CIC Qualifying Termination means a Separation (A) within twelve (12) months following a Change in Control or (B) within three (3) months preceding a Change in Control (but as to part (B), only if the Separation occurs after a Potential Change in Control) resulting, in either case (A) or (B), from (i) the Company terminating the Executive’s employment for any reason other than Cause or (ii) the Executive resigning his or her employment for Good Reason. A termination or resignation due to the Executive’s death or disability shall not constitute a CIC Qualifying Termination. A “Potential Change in Control” means the date of execution of a legally binding and definitive agreement for a corporate transaction which, if consummated, would constitute the applicable Change in Control (which for the avoidance of doubt, would include, for example, a merger agreement, but not a term sheet for a merger agreement). In the case of a termination following a Potential Change in Control and before a Change in Control, solely for purposes of benefits under this Agreement, the date of Separation will be deemed the date the Change in Control is consummated.

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

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

  • Change in Control Termination means an “Involuntary Termination Without Cause” or “Resignation for Good Reason,” either of which occurs on, or within three (3) months prior to, or within twelve (12) months following, the effective date of a Change in Control, provided that any such termination is a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h). Death and disability shall not be deemed Change in Control Terminations.

  • Severance Costs means the costs which the employers are legally obliged to pay to or in respect of the Crew as a result of the early termination of any employment contract for service on the Vessel.

  • Period of Severance means a continuous period of time during which an Employee is not employed by the Employer. Such period begins on the date the Employee retires, quits or is discharged, or if earlier, the twelve (12) month anniversary of the date on which the Employee was otherwise first absent from service.