BASE SEVERANCE AMOUNT definition

BASE SEVERANCE AMOUNT means $514,105.
Sample 1
BASE SEVERANCE AMOUNT means $431,904.
Sample 1
BASE SEVERANCE AMOUNT means an amount equal to the sum of the Base Salary being paid to the Executive immediately prior to such termination plus the Bonus paid to the Executive by the Company with respect to the fiscal year most recently completed prior to such termination.
Sample 1

Examples of BASE SEVERANCE AMOUNT in a sentence

  • FOR THE AVOIDANCE OF DOUBT, (I) THE EMPLOYEE SHALL NOT BE ENTITLED TO RECEIVE BOTH THE BASE SEVERANCE AMOUNT AND THE EARLY TERMINATION SEVERANCE AMOUNT; AND (II) IN THE EVENT THAT DURING THE EMPLOYEE’S EMPLOYMENT BEFORE THE ANNIVERSARY DATE, THERE EXISTS CAUSE FOR TERMINATION OR THE EMPLOYEE DIES, THE EMPLOYEE SHALL NOT BE ELIGIBLE FOR SEVERANCE PAY.

  • THE BASE SEVERANCE AMOUNT OR THE EARLY TERMINATION SEVERANCE AMOUNT, WHICHEVER IS APPLICABLE, IS REFERRED TO AS THE “SEVERANCE PAY.” THE SEVERANCE PAY SHALL BE PAID IN A LUMP SUM WITHIN 45 DAYS OF THE DATE OF TERMINATION; PROVIDED, HOWEVER, THAT IF THE 45-DAY PERIOD BEGINS IN ONE CALENDAR YEAR AND ENDS IN A SECOND CALENDAR YEAR, THE SEVERANCE PAY SHALL BE PAID IN THE SECOND CALENDAR YEAR NO LATER THAN THE LAST DAY OF SUCH 45-DAY PERIOD.


More Definitions of BASE SEVERANCE AMOUNT

BASE SEVERANCE AMOUNT means an amount equal to (x) the greater of (1) $1,000,000 or (2) the Base Salary being paid to the Executive immediately prior to such termination, plus (y) the greater of (1) the Bonus paid to the Executive by the Company with respect to the most recently completed fiscal year, (2) the aggregate amount of all Bonuses paid to the Executive by the Company during the 12 months prior to such termination or (3) 100% of the Base Salary being paid to the Executive immediately prior to such termination.
Sample 1
BASE SEVERANCE AMOUNT means $465,366.
Sample 1
BASE SEVERANCE AMOUNT means $498,083.
Sample 1
BASE SEVERANCE AMOUNT means, for an Eligible Employee, the sum of (i) the greater of (1) the Eligible Employee’s annual base salary as of the Date of Termination (disregarding any reduction thereto that serves as the basis for the Eligible Employee’s resignation for Good Reason) and (2) to the extent applicable, the Eligible Employee’s annual base salary at the time of the first occurrence of a Change in Control within the two (2) years preceding the Date of Termination, plus (ii) the greater of (1) the Eligible Employee’s target annual cash incentive opportunity for the fiscal year of the Company during which the Date of Termination occurs (disregarding any reduction thereto that serves as the basis for the Eligible Employee’s resignation for Good Reason) and (2) to the extent applicable, the Eligible Employee’s target annual cash incentive opportunity for the fiscal year of the Company during which a Change in Control first occurs within the two (2) years preceding the Date of Termination (such greater amount, the “Target Bonus”).
Sample 1
BASE SEVERANCE AMOUNT means (i) the sum of (A) the annualized base salary of a Participant as of the Effective Date or at the Date of Termination whichever is greater and (B) the Target Bonus divided by (ii) twelve (12).
Sample 1

Related to BASE SEVERANCE AMOUNT

  • Severance Amount means:

  • 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.

  • 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 Payments means all change in control, transaction, retention and similar bonuses or payments, paid or payable by the Acquired Companies to any current or former directors, managers, officers, employees, or other Persons as a result of the Closing of the Transactions or the execution of this Agreement, including any deferred compensation, in each instance, plus the employer portion of any employment Taxes due in connection with any such payments, but excluding, for the avoidance of doubt, severance payments relating to a termination of employment following the Closing.

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

  • 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.

  • Change in Control Payment means any payment or distribution by the Corporation in the nature of compensation (within the meaning of Section 280G(b)(2) of the Code) to or for the benefit of Executive that is contingent on a Change in Control, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise.

  • Change in Control Benefits means the following benefits:

  • Retention Bonus means the amount equal to:

  • Accrued Amount has the meaning set forth in Section 3.1(b) of this Agreement.

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

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

  • 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.

  • Severance Multiple means 2.50; provided, however, that notwithstanding the foregoing, for each full month that elapses during the period beginning on the date the Executive attains age 63 and ending on the date the Executive attains age 65, the Severance Multiple shall be reduced by an amount equal to the product of (i) 1/24 and (ii) the excess of (A) the original Severance Multiple set forth above over (B) 1.0 (rounded to the nearest hundredth).

  • Monthly salary means the portion of a member’s annual compensation which is paid to him or her per month.

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

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

  • Average final compensation means the average annual creditable compensation of a member during

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

  • Retention Amount means, in relation to any Retention Date, such sum as shall be the aggregate of:

  • 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 –

  • Base Salary Amount means the greater of the Executive’s annual base salary (a) at the rate in effect on the Termination Date and (b) at the highest rate in effect at any time during the 180-day period prior to a Change in Control, and will include all amounts of the Executive’s base salary that are deferred under any qualified or non-qualified employee benefit plan of the Company or any other agreement or arrangement.

  • Accrued Bonus means the bonus, which may be negative or positive, which is calculated in the manner set forth in Section V.A.

  • 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.