Cash Severance Payment definition

Cash Severance Payment means a lump sum cash payment in an amount equal to the product of (x) the Participant’s Benefits Multiple, and (y) the sum of (i) the Participant’s annual base salary as in effect immediately prior to the Date of Termination or, if higher, as in effect immediately prior to the Change of Control, plus (ii) the Participant’s targeted annual bonus for the year in which such Date of Termination occurs (determined as the product of the Participant’s annual base salary and the Participant’s target annual bonus percentage, each as in effect immediately prior to the Date of Termination or, if higher, as in effect immediately prior to the Change of Control).
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Cash Severance Payment has the meaning assigned thereto in Section 5(a)(ii)(A) hereof.
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Cash Severance Payment means the cash payment of severance compensation as provided in Section 4.2.
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Examples of Cash Severance Payment in a sentence

  • The Cash Severance Payment shall be made, and the continuing health insurance coverage shall commence, promptly after the Release becomes irrevocable; provided that to the extent the 60-day period spans two calendar years and to the extent required to comply with Code Section 409A, such payments shall be made or commence, as applicable, on the 60th day following the Date of Termination.

  • To the extent the Executive’s CIC Termination is described in Section 9(e)(i)(B) and the Change in Control is a Qualifying CIC, the incremental Cash Severance Payment and any unpaid Cash Severance Payment shall be paid in a lump sum.

  • The Full Cash Severance Payment shall be paid within 75 days following the Termination Date; provided that, if the Release Execution Period begins in one taxable year and ends in another taxable year, payment shall not be made until the beginning of the second taxable year.

  • The Cash Severance Payment shall be made, and the Monthly Payments shall commence, promptly after the Release becomes irrevocable; provided that to the extent required by Code Section 409A, such payments shall be made or commence, as applicable, on the 60th day following the Date of Termination and in the case of the Monthly Payments, shall include all payments that otherwise would have been made before such date.

  • Such payment shall be made at the same time as the Cash Severance Payment under Section 3.01(a) above.

  • The Total Payments which constitute “parachute payments” within the meaning of Code Section 280G and its regulations shall be reduced in the following order: (A) reduction of any cash severance payments otherwise payable to the Executive, including without limitation, the Cash Severance Payment and the Pro-Rata Bonus (but with respect to the Pro-Rata Bonus only that portion of the full amount which is treated as contingent on the Code Section 280G change in control pursuant to paragraph (a) of Treas.

  • Subject to Section 16 hereof, the Cash Severance Payment shall be paid in a single lump sum payment within sixty (60) days following the date of Employee’s separation from service.

  • Subject to Section 16 hereof, Employer shall pay such supplemental benefits (if any) in a lump sum at the same time as the Cash Severance Payment under Section 14.2.2(a).

  • The Year 1 Cash Severance Payment shall be paid within 75 days following the Termination Date; provided that, if the Release Execution Period begins in one taxable year and ends in another taxable year, payment shall not be made until the beginning of the second taxable year.

  • The Cash Severance Payment shall be made on the fifteenth day of each of the twenty-four (24) months immediately following the month in which the Effective Date of Termination occurs or (if later) the month in which the date of the Executive’s “separation from service” with the Company (as such term is defined in Treasury Regulations issued under Code Section 409(A) occurs.


More Definitions of Cash Severance Payment

Cash Severance Payment shall be defined as set forth in Section 6.3.
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Cash Severance Payment means, for a Covered Employee, an amount equal to the Severance Multiple times the sum of (i) such Covered Employee’s Monthly Base Pay and (ii) such Covered Employee’s Monthly Target Bonus.
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Cash Severance Payment has the meaning accorded such term in Section 3.02(b)(i).
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Related to Cash Severance Payment

  • 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.

  • 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.

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