Base Severance definition

Base Severance means an amount equal to three (3) weeks of the Participant’s Base Weekly Pay.
Sample 1Sample 2
Base Severance means the multiple, as indicated, of Executive’s then-current annual Base Salary, ignoring any decrease in Base Salary that forms the basis for Good Reason, payable in a lump sum.
Sample 1Sample 2
Base Severance means the multiple, as indicated, of Executive’s then-current annual Base Salary, ignoring any decrease in base salary that forms the basis for Good Reason, payable in lump sum.
Sample 1

Examples of Base Severance in a sentence

  • Each installment of the CIC Base Severance Amount shall be treated as a separate payment for purposes of Code Section 409A.

  • Provided, however, that payment of the CIC Base Severance Amount shall not commence unless the statutory period during which the Employee is entitled to revoke the Release has expired during the 75-day period following the Employee’s termination and provided further that any payments provided hereunder shall be made in the second taxable year if the 75-day period begins in one taxable year of the Employee and ends in the subsequent taxable year.

  • In such case, the Base Severance Amount shall be paid to the Executive in a lump sum in cash within 30 days of the Date of Termination.

  • In the case of a Qualifying Termination that occurs within eighteen (18) months following a Change in Control, the Base Severance will be paid in a lump sum on the sixtieth (60th) day following Employee’s Separation from Service date.

  • Except in the case of a Qualifying Termination that occurs within eighteen (18) months following the closing of a Change in Control, the Base Severance will be paid in installments in the form of continuation of Employee’s Base Salary payments, paid on the Company’s ordinary payroll dates, commencing on the Company’s first regular payroll date that is more than sixty (60) days following Employee’s Separation from Service date.

  • If the Executive's employment is terminated by reason of the Executive's Disability during the Employment Period, this Agreement shall terminate without further obligations to the Executive, other than for payment of Base Severance Amount (which shall be paid to the Executive in a lump sum in cash within 30 days of the Date of Termination) and the timely payment or provision of the Welfare Benefit Continuation and Other Benefits.

  • Except in the case of a Qualifying Termination that occurs within eighteen (18) months following a Change in Control, the Base Severance will be paid in installments in the form of continuation of Employee’s Base Salary payments over the Severance Period, paid on the Company’s ordinary payroll dates, commencing on the sixtieth (60th) day following Employee’s Separation from Service date.

  • In the case of a Qualifying Termination that occurs within eighteen (18) months following the closing of a Change in Control, the Base Severance will be paid in a lump sum on the Company’s first regular payroll date that is more than sixty (60) days following Employee’s Separation from Service date.

  • In the event the number of employees indicating a willingness to participate in a voluntary layoff exceeds the number of positions subject to layoff, the Employer shall grant the requests on the basis of seniority; affording to the most senior employee the first option.

  • Notwithstanding the foregoing, any Base Severance Payments that are otherwise payable before the Execution Deadline will be withheld pending Executive’s execution and delivery of the Release and will be paid on the payroll date immediately following the Execution Deadline.


More Definitions of Base Severance

Base Severance has the meaning set forth in Section 6.5(d).
Sample 1
Base Severance means a 1ump-sum cash payment, less required tax withholdings and deductions, equal to two (2) multiplied by the sum of your annual base salary at the time of termination (or if greater, on the date hereof) and your target annual incentive bonus for the year of termination (or, if your termination occurs in 2014, your target annual incentive bonus for 2013 if it is greater than your 2014 target annual incentive or if your 2014 target annual incentive has not yet been established).
Sample 1
Base Severance column, and (2) "Outplacement Cost" column) payable to any employee of the Company or any of the Mainland Subsidiaries listed on Section 2.1(e) of the Disclosure Schedule by the Company or any of the Mainland Subsidiaries as a result of the consummation of the transactions contemplated by this Agreement (whether such payments or bonuses are oral or in writing) (the "Transaction Bonuses"); minus
Sample 1

Related to Base Severance

  • 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 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)

  • Annual Salary means the salary given under this Part.

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

  • Base Salary shall have the meaning set forth in Section 3(a) hereof.

  • Normal salary means the salary that would be paid to a participating employee if that person was not participating in a Plan and includes salary expressed as an annual rate, fortnightly rate, weekly rate, daily rate or hourly rate. It includes all allowances that are paid as an annual rate, fortnightly rate, weekly rate, daily rate or hourly rate but not overtime payments and shift work penalty rates unless they are paid as a component of an annualised rate.

  • Severance Amount means (A) for any Termination other than during a Covered Period, an amount equal to one hundred percent (100%) of Executive’s then-current Annual Base Salary as of the respective Termination; or (B) for a Termination during a Covered Period, an amount equal to two hundred percent (200%) of Executive’s Base Compensation as of the respective Termination.

  • 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.

  • Retention Bonus means an incentive bonus provided under

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one (1) day prior to the Change of Control; and (ii) the average of the Incentive Bonus paid (or payable) for the three (3) most recently completed fiscal years of the Company.

  • 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.

  • Salary as defined in Section 3.1(a).

  • Accrued Compensation means an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay and (iv) bonuses and incentive compensation (other than the "Pro Rata Bonus" (as hereinafter defined)).

  • Monthly Base Salary means 1/12th of the greater of (i) Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control Termination or a Covered Termination, as applicable, or (ii) in the case of a Change in Control Termination, Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control.

  • CIC Severance Plan means the Company’s Change in Control Severance Plan, as may be amended from time to time, or any successor plan, program or arrangement thereto.

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

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

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

  • 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).

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • 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.

  • Annual Compensation means the wages paid to the member during covered employment within the meaning of Section 3401(a) of the Internal Revenue Code, but determined without regard to any rules that limit the remuneration included in wages based upon the nature or location of employment or services performed during the plan year plus amounts excluded under Section 414(h)(2) of the Internal Revenue Code and less reimbursements or other expense allowances, cash, or noncash fringe benefits or both, deferred compensation, and welfare benefits. Annual compensation for determining benefits during any determination period may not exceed the maximum compensation allowed as adjusted for cost of living in accordance with §5-10D-7 of this code and Section 401(a)(17) of the Internal Revenue Code.

  • Basic Salary shall have the meaning assigned to it in Section 5 of this Agreement.

  • Change in Control Benefits means the following benefits:

  • Current Compensation means all regular wage, salary and commission payments paid by the Company to a Participant in accordance with the terms of his or her employment, but excluding annual bonus payments and all other forms of special compensation.