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.
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.
If advantage is to be taken of the opportunities which GBS offers for strategic dialogue on environmental issues, then Development Partners need to be well geared up for these processes.
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).
The New Mexico Coalition of Public Safety Officers, and Santa Fe County Deputy Sheriff’s Association, filed a Prohibited Practices Complaint on December 9, 2021 alleging the County bargained in bad faith by unilaterally implementing its own proposal regarding the Revised Mandatory Vaccination Policy and that by refusing to proceed to mediation and binding arbitration the County violated PEBA’s impasse resolution procedures.
Subject to Section 19 of this Agreement, 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.
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.
Payment of the Severance Amount and the other benefits described in Sections 5(b)(ii) through 5(b)(v), payment of the CIC Severance Amount and the other benefits described in and Sections 5(e)(ii) through 5(e)(iv), as applicable, shall be conditioned upon the Executive’s ongoing compliance with the obligations set forth in Section 6.