Applicable Severance Period definition

Applicable Severance Period means the greater of (i) six months, or (ii) a period equal to three months for each full four years of continuous service as an employee of Corporation, determined based on the number of full years of service as of the date of termination. For example, for an employee with 18 years of continuous service as of the date of termination, the Applicable Severance Period would be 12 months.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Applicable Severance Period means the period of 12 months multiplied by the relevant Applicable Multiplier immediately following the Date of Termination.

Applicable Severance Period means the period of time set forth below if termination occurs during the corresponding period indicated: Severance Period Termination Date ---------------- ----------------

Examples of Applicable Severance Period in a sentence

• Health insurance benefits with the same -------------- coverage provided to Officer prior to the termination (e.g. medical, dental, optical, mental health) and in all other respects significantly comparable to those in place immediately prior to the termination will be provided at the Company's cost over the Applicable Severance Period.

• The Company shall provide the Executive with a level of outplacement services commensurate with the Executive’s position during the Applicable Severance Period as determined by the Company in its reasonable discretion.

• The Company shall (i) prepay all premiums due during the Applicable Severance Period under any insurance policy maintained by the Company insuring the life of the Executive that is in effect and (ii) transfer to the Executive any and all rights and incidents of ownership in such arrangements.

• The parties intend that during the Applicable Severance Period continued medical and dental coverage shall not constitute a “deferral of compensation” under Treas.

• Notwithstanding this Subsection 6(a), if Employee dies while employed by Employer, Employee's estate shall receive annually forty percent (40%) of the Termination Compensation (as defined below) for the Applicable Severance Period (defined below), but payments shall cease, if applicable, following the month in which Employee would have reached age 65.

More Definitions of Applicable Severance Period

Applicable Severance Period means (1) in the case of any Company Employee that is listed on Schedule 6.18 as a Senior Vice President of the Company on the date hereof, a period of 12 months after the effective date of termination of his or her employment, (2) in the case of any Company Employee that is listed on Schedule 6.18 as a Vice President of the Company on the date hereof, a period of nine months after the effective date of termination of his or her employment, (3) in the case of any Company Employee that is listed on Schedule 6.18 as a Director of the Company on the date hereof, a period of six months after the effective date of termination of his or her employment, and (4) in the case of any other Company Employee, a period of three months after the effective date of termination of his or her employment.

Applicable Severance Period means the period of time set forth below if termination occurs during the corresponding period indicated: 1 year On or before June 11, 2002 2 years After June 11, 2002 In addition, as used in Subsections 6(a) and 6(e), if termination occurs after June 11, 2002, the “Applicable Severance Period” means the period of time set forth below if termination occurs during the corresponding period: 2 years After June 11, 2002 through June 11, 2003 3 years After June 11, 2003 through June 11, 2004 4 years Thereafter through June 11, 2005 5 years After June 11, 2005

Applicable Severance Period means a period of months equal to the product of twelve (12) multiplied by the Participant's Applicable Non-CIC Multiplier.

Applicable Severance Period means (a) with respect to a Tier I Executive, the period of twenty-four (24) months immediately following the Tier I Executive’s Date of Termination; and (b) with respect to a Tier II Executive, the period of twelve (12) months immediately following the Tier II Executive’s Date of Termination.

Applicable Severance Period means the number (expressed as a number of weeks) contained in a Participant’s Participation Agreement.

Applicable Severance Period means, in the event of a Qualified Termination that occurs at any time other than the Change in Control Period, the period set forth in Table I and, in the event of a Qualified Termination that occurs within the Change in Control Period, the period set forth in Table II.

Applicable Severance Period means the period of time set forth below if termination occurs during the corresponding period indicated: Severance Period Termination Date ---------------- ---------------- 1 year On or Before January 31, 2002 2 years Thereafter through January 31, 2003 3 years After January 31, 2003 In addition, as used in Subsections 6(a) and 6(e), if termination occurs after January 31, 2003, the "Applicable Severance Period" means the period of time set forth below if termination occurs during the corresponding period: Severance Period Termination Date ---------------- ---------------- 3 years After January 31, 2003 through January 31, 2004 4 years Thereafter through January 31, 2005 5 years After January 31, 2005