CIC Severance Amount definition

CIC Severance Amount means an amount equal to the sum of:
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CIC Severance Amount means, with respect to an Eligible Executive, an amount equal to the product of (i) the Applicable CIC Severance Multiple and (ii) the sum of such Eligible Executive’s (A) Base Salary and (B) Target Annual Bonus.
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CIC Severance Amount means the difference, if any, of (i) the aggregate value of all amounts payable by the Company or any of its Subsidiaries (including the employer portion of any withholding, payroll, social security, unemployment or other Taxes associated therewith) under the express contractual terms of any retention, change of control, incentive, termination, compensation, severance or similar contractual obligation, whether written or oral, to which the Company or any
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Examples of CIC Severance Amount in a sentence

  • For any Participant whose Separation from Service occurs before a Change in Control under circumstances constituting a Pre-CIC Termination, any CIC Severance Amount payable under this Plan is reduced by amounts previously paid with respect to Base Salary and annual short term incentive compensation under an Employment Agreement or Separation Plan to the Participant for any period after the Separation from Service.

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  • The CIC Severance Amount shall be paid in cash in a lump sum within thirty (30) days following the execution of the Release that has become irrevocable by its terms, subject to any required delay of payment pursuant to Section 23.

  • The CIC Severance Amount is payable on (x) the Executive’s Separation from Service date; or (y) for a Pre-CIC Termination, the closing date of the 409A CIC, except that if the Release Consideration and Revocation Period ends on or after December 15 of the calendar year in which the Participant incurs a Separation from Service, the CIC Severance Amount is payable on the first business day in the following calendar year.

  • The CIC Severance Amount under (iii) above is payable at the time and in the form provided in this subsection, subject to the six-month delay for Specified Employees under Section 4.02(b).

  • Such payment shall be made, in the case of a Termination of Employment during the Limited Period, in accordance with the provisions governing payment of the Severance Amount or CIC Severance Amount under Section 4.1(c), and in the case of a Termination of Employment other than during the Limited Period, in the year following the year in which the Termination Date occurs but no later than March 15th of such year.

  • If the Change in Control is a “change in control event” as defined under Section 409A, (I) the CIC Severance Amount shall be paid in a lump sum within sixty (60) days following the Termination Date; and (II) the CIC Medical Benefit Payment shall be paid in a lump sum within sixty (60) days following the Termination Date.

  • In the event that any payment or benefit intended to be provided hereunder is required to be reduced pursuant to this Section, then the reduction shall occur in the following order: (a) reduction of the portion of the CIC Severance Amount described under Section 1.4(a); (b) reduction of the portion of the CIC Severance Amount described under Section 1.4(b); and (c) reduction of the cash reimbursements described in Section 4.6(a).

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  • In the event that your name is not listed on Schedule B at the time of a Change in Control, you shall not be eligible for any CIC Severance Amount and otherwise shall not be eligible for any payments or benefits under Article II.B. of the Plan, except to the extent specifically provided in Article II.B.3. and Schedule C.


More Definitions of CIC Severance Amount

CIC Severance Amount means, with respect to a Level 1 Executive, an amount equal to the sum of (i) the product of (A) 2.0 and (B) the sum of such Level 1 Executive’s (I) Base Salary and (II) Target Annual Bonus and (ii) such Level 1 Executive’s Pro-Rata Target Bonus.
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CIC Severance Amount means 2.99 multiplied by the sum of (A) your Base Salary plus (B) your Applicable Bonus Amount.
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CIC Severance Amount means the difference, if any, of (i) the aggregate value of all amounts payable by the Company or any of its Subsidiaries (including the employer portion of any withholding, payroll, social security, unemployment or other Taxes associated therewith) under the express contractual terms of any retention, change of control, incentive, termination, compensation, severance or similar contractual obligation, whether written or oral, to which the Company or any of its Subsidiaries is party and which is in effect immediately prior to the Closing (including any amounts payable by the Company or any of its Subsidiaries pursuant to or as a result of the plan described in Item 1 of Section (k) of the Developments Schedule), in each case, which are contingent upon, triggered or accelerated by, or otherwise become payable in connection with or as a result of (A) the transactions contemplated by this Agreement or the other Transaction Documents or (B) the termination of employment of any Company Service Provider, which are not paid prior to Closing, excluding any amounts payable pursuant to Section 11.03(c), minus (ii) $18,600,000. For the avoidance of doubt, in no event shall any Retention Pool Bonuses be included in the calculation of the CIC/Severance Amount.
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Related to CIC Severance Amount

  • 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 Payment shall have the same meaning as the term "parachute payment" defined in Section 280G(b)(2) of the Code.

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

  • 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 Benefit means the benefit set forth in Section 4.1 below.

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

  • Change in Control Benefits means the following benefits:

  • Change in Control Payments means any amounts payable by the Company, the Final Surviving Corporation or their Subsidiaries at or at any time after the Closing (or, to the extent such amounts are unpaid as of immediately prior to the Closing, at any time prior to the Closing) as a result of the execution and delivery of this Agreement or the consummation of the First Merger (whether or not conditioned upon a related or concurrent or subsequent termination of employment or the occurrence of any other event), plus the employer’s share of Taxes payable with respect to all such amounts.

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

  • 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.

  • Severance Benefits means the payment of severance compensation as provided in Section 3.3 herein.

  • Accrued Obligation means the sum of (i) Executive’s Base Salary earned through the Date of Termination and (ii) any accrued, unused vacation pay earned by Executive, in both cases, to the extent not theretofore paid.

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

  • 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.

  • Compensation Accrued at Termination means the following:

  • Accrued Obligations means (i) all accrued but unpaid Base Salary through the date of termination of Executive’s employment, (ii) any unpaid or unreimbursed expenses incurred in accordance with Section 7 hereof, and (iii) any benefits provided under the Company’s employee benefit plans upon a termination of employment, in accordance with the terms contained therein.

  • Severance Multiple has the meaning set forth on the first page of the Agreement.

  • Retention Bonus means an incentive bonus provided under

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

  • 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 Multiplier means, with respect to any termination of Employee’s employment hereunder by the Company without Cause or by Employee with Good Reason, 1; provided, however, that in the event such termination occurs within the two (2) year period following a Change in Control, the Severance Multiplier shall instead equal 2.

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

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

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

  • Accrued Amounts means any unpaid annual base salary accrued through the date of a Participant’s Qualifying Termination and any accrued but unpaid vacation pay.