Base Severance Benefit definition

Base Severance Benefit means the amount equal to the product of (x) the sum of the Base Salary plus the Annual Bonus (payable at the maximum rate as set forth in Section 2(b)(i)), multiplied by (y) 3.0. The Severance Benefit shall be paid by one or more of the Operating Partnerships in a lump sum in cash on or prior to the sixtieth (60th) day following the Termination Date (subject to Section 3(f) and any applicable six-month delay described in Section 8(h)).
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Base Severance Benefit means the Participant’s Base Salary Amount. Except as may be set forth in the Participant’s Participation Notice, in the event the Participant has received, or is entitled to and has not waived, an Alternative Cash Severance Benefit, the Base Severance Benefit shall be reduced (but not below zero) by the amount of the Alternative Cash Severance Benefit.
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Examples of Base Severance Benefit in a sentence

  • The Base Severance Benefit will provide one Week's Pay for each completed year of Service and, for any partial year of Service, one-twelfth Week's Pay for each completed month of Service.

  • Notwithstanding the foregoing, in the event that a Participant is terminated due to the Cincinnati Office Closing AND such Participant executes the Waiver and Release attached hereto as Exhibit B, the Base Severance Benefit of such participant shall be equal to 110 percent of one Week's Pay for each completed year of Service plus 110 percent of one-twelfth Week's Pay for each completed month of Service.

  • If the operation for which a participant is working is sold and the participant continues to work with the operation, or another entity affiliated with the buyer, after the sale, the participant will not be eligible for the Base Severance Benefit, the Supplemental Severance Benefit, or the Group Medical and Insurance Benefits.

  • Participants terminated by the Company or an Affiliate after the Effective Date other than for cause will receive a Base Severance Benefit, a Supplemental Severance Benefit and Group Medical and Life Insurance Benefits as described herein.

  • The Participant who incurred the Regular Severance shall begin to receive from Nuvelo the Base Severance Benefit.

  • Participants terminated by the Company on or after the Confirmation Date other than for cause will receive a Base Severance Benefit, a Supplemental Severance Benefit and Group Medical and Life Insurance Benefits as described herein.

  • Payments under the Base Severance Benefit will be made under the general payroll practice for the unit in which the participant was employed.

  • Notwithstanding any other provision of the Plan to the contrary, all Plan benefits, including the Base Severance Benefit, the Supplemental Severance Benefit, and the Group Medical and Insurance Benefits set forth in Article III, otherwise payable to an eligible Participant, shall be conditioned upon the execution by such Participant of a full and complete release in a form approved by, or acceptable to, the Company.

  • Payments under the Base Severance Benefit will be made under 106 the general payroll practice for the unit in which the participant was employed.

  • Subject to the provisions of Section 2.2, Participants who are terminated by the Company or an Affiliate for reasons other than for cause shall receive a Base Severance Benefit, a Supplemental Severance Benefit and Group Medical and Insurance Benefits as described herein.

Related to Base Severance Benefit

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

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

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

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

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

  • Severance Amount means:

  • Change in Control Benefits means the following benefits:

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

  • Termination Benefit means the benefit set forth in Article 7.

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

  • Retention Bonus means the amount equal to:

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • 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.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Employment benefits means all benefits provided or made

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

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

  • 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).

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive's employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company and its Affiliates for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained; and (v) all other payments and benefits to which the Executive (or in the event of the Executive's death, the Executive's surviving spouse or other beneficiary) may be entitled as compensatory fringe benefits or under the terms of any benefit plan of the Employer, including severance payments under the Employer's severance policies and practices in the form most favorable to the Executive that were in effect at any time during the 180-day period prior to the Effective Date. Payment of Accrued Benefits shall be made promptly in accordance with the Employer's prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits.

  • Final compensation of a member means:

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.