Applicable Severance Multiplier definition

Applicable Severance Multiplier means the multiplier contained in a Participant’s Participation Agreement that is used to determine the amount of severance the Participant may receive if a Qualifying Termination occurs.

Applicable Severance Multiplier means the multiplier (expressed as a number of months) contained in a Participant’s Revised Participation Agreement that is used to determine the portion of the Participant’s termination benefits described in Sections 3.01(a) and 3.02(a)(A).

Applicable Severance Multiplier means (i) one (1) for any Participant; and (ii) two (2) for a Qualifying Termination within 90 days prior to a Change in Control or at any time within 24 months following a Change in Control.

Examples of Applicable Severance Multiplier in a sentence

• The Administrator may remove a Participant from participating in this Plan and/or reduce a Participant’s Applicable Severance Multiplier by providing at least 90 days’ advance written notice to the Participant; provided that no such removal or reduction will be effective if made during the Covered Period.

• An amount equal to the product of (i) the Participant’s Applicable Severance Multiplier, and (ii) the Participant’s monthly rate of Base Salary.

• The Company currently has no definitive plan or proposal to conduct any strategic transaction.

• The amount contemplated under Section 3.01(a) shall be paid in accordance with the Company’s regular pay schedule in substantially equal installments over a period equal to a Participant’s Applicable Severance Multiplier following the Participant’s Date of Termination.

• The Company, by written notice signed by the Chief Human Resources Officer, may change a Participant’s Applicable Severance Multiplier at any time, but no such change (to the extent that it is a reduction in his or her then Applicable Severance Multiplier) shall be effective unless the Company provides written notice of such change to the Participant at least 12 months prior to the occurrence of a Change in Control.

More Definitions of Applicable Severance Multiplier

Applicable Severance Multiplier means one for any Participant who is a named executive officer of the Company and, as to any other Participant, the multiplier contained in a Participant’s Participation Agreement.

Applicable Severance Multiplier means one for any Participant.

Applicable Severance Multiplier means the applicable multiplier set forth on Exhibit A that applies to a Participant’s Participation Tier in respect of a termination of the Participant’s employment under Section 5 or Section 6 of this Plan, as applicable.

Applicable Severance Multiplier means the multiplier that is set forth next to a Participant’s name in Appendix A.

Applicable Severance Multiplier means:(a)1.5 for any Participant who is an Executive Vice President of the Company; and(b)1.0 for any Participant who is a Senior Vice President of the Company, otherwise reports directly to the Company’s Chief Executive Officer, or has been designated as an Eligible Employee by the Administrator.

Applicable Severance Multiplier means, for each Eligible Executive, the applicable multiple corresponding to such Eligible Executive’s Tier, as set forth on Exhibit A attached hereto.

Applicable Severance Multiplier means 1 unless otherwise set forth in a Participant’s Participation Agreement.