CIC Severance Payments definition

CIC Severance Payments shall have the meaning set forth in Section 6.1 hereof.
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CIC Severance Payments means payments equal to:
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CIC Severance Payments mean the severance payments to which you may become entitled under Part Three hereof in the event of your Termination Without Cause or Resignation for Good Cause.
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Examples of CIC Severance Payments in a sentence

  • In addition to the remedies the Company may have at law or in equity, violation of Sections 7 or 8 herein will entitle the Company at its sole option not to pay the Average Bonus or the CIC Severance Payments, to discontinue the Salary Continuation Payments to the Executive, and to seek repayment from the Executive of any Severance Payments or CIC Severance Payments already paid to him by the Company.

  • Such Special CIC Severance Payments shall end upon expiration of the COBRA CIC Payment Period.

  • Should you become totally and permanently disabled as defined ---------- in the Company's long-term disability program after your Termination Without Cause or Resignation for Good Reason under Part Two of this Agreement but before receipt of the CIC Severance Payments to which have become entitled under Part Two, then those payment(s) shall be made to you in accordance with the provisions of this Agreement.

  • Should you die after your Termination Without Cause or Resignation ----- for Good Reason under Part Two of this Agreement but before receipt of the CIC Severance Payments to which you have become entitled under Part Two of this Agreement, then those payment(s) shall be made to the executors or administrators of your estate.

  • Notwithstanding the foregoing, if the 60 day period following Executive’s termination ends in a calendar year after the year in which Executive’s employment terminates, the CIC Severance Payments shall be made no earlier than the first day of such later calendar year.

  • The CIC Severance Payments shall not be considered compensation for any benefit calculation or other purpose under any retirement plan or other benefit plan maintained by the Company.

  • The CIC Severance Payments will be paid to you in a lump sum, net of all applicable withholding taxes, within 15 days after your date of termination, and, if not timely paid, will bear interest at the lower of ten percent per annum and the maximum rate permitted by California law.

  • You shall be entitled to CIC Severance Payments in ---------------------- an aggregate amount equal to three times your Total Compensation.

  • For purposes of Code Section 409A (including, without limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), your right to receive any installment payments under this Agreement (whether Severance Benefits, CIC Severance Payments, Death or Disability Payments, reimbursements or otherwise) shall be treated as a right to receive a series of separate payments and, accordingly, each installment payment hereunder shall at all times be considered a separate and distinct payment.

  • Subject to Section 10 below, the CIC Severance Payments shall be made on the Company’s regular payroll schedule over the period of twelve (12) months following your Separation from Service date; provided, however that any such payments that are otherwise scheduled to be made prior to the Release Effective Date shall instead accrue and be made on the first regular payroll date following the Release Effective Date.


More Definitions of CIC Severance Payments

CIC Severance Payments means (A) twenty-four (24) months of Base Salary in a lump sum and (B) a pro-rated annual incentive bonus payment (based on the number of days worked in that fiscal year) for the fiscal year in which termination of employment occurs based on the target bonus for such fiscal year in a lump sum, at the times provided in subsection (iii). The Company, its successor or such other entity that would be required to provide COBRA continuation coverage to “M&A qualified beneficiaries” shall provide group health benefits under that entity’s then-current group health plans for Executive and Executive’s spouse and dependents, if applicable, for up to twenty-four (24) months following Executive’s termination of employment on the same basis as if Executive had continued to be employed during that period (such continuation coverage hereinafter referred to as the “Health Care Continuation”), provided that (1) Executive timely pays the premiums toward the cost of such benefits that an active employee would be required to pay for the same benefits, and (2) Executive has not obtained health coverage from any other source and is not eligible to receive health coverage from any other employer. The Health Care Continuation shall terminate on the earlier of the effective date of Executive’s health coverage from any other source or Executive’s eligibility to receive health coverage from any other employer of Executive. Further, the COBRA health care continuation coverage period under Section 4980B of the Code shall run concurrently with the Health Care Continuation period. In addition, the Health Care Continuation will be on an after-tax basis with the portion of the monthly cost of coverage paid by the Company (or another entity) being taxable income to Executive. The treatment of Executive’s incentive compensation provided under Section 2.2 hereof shall be governed by the terms of the Company’s applicable plans or grant agreements, except as explicitly provided to the contrary pursuant to this Agreement.
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Related to CIC Severance Payments

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

  • 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.

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

  • 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.

  • CIC Severance Plan means the Company’s Change in Control Severance Plan, as may be amended from time to time, or any successor plan, program or arrangement thereto.

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

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

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

  • Change in Control Benefits means the following benefits:

  • 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.

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

  • 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.

  • Retention Bonus means an incentive bonus provided under

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

  • Compensation Accrued at Termination means the following:

  • Accrued Compensation means an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay and (iv) bonuses and incentive compensation (other than the "Pro Rata Bonus" (as hereinafter defined)).

  • Accrued Obligations are (i) Executive’s accrued but unpaid salary through the date of termination, (ii) any unreimbursed business expenses incurred by Executive payable in accordance with the Company’s standard expense reimbursement policies, and (iii) benefits owed to Executive under any qualified retirement plan or health and welfare benefit plan in which Executive was a participant in accordance with applicable law and the provisions of such plan.

  • Severance means the complete separation and dismemberment of the part from the body.

  • Lease Termination Payments means all payments received by or on behalf of any Seller with respect to a Lease with respect to any terminations, surrenders, modifications, renewals or amendments of any such Lease.

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

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

  • Incentive Payments means any and all federal or state governmental subsidies, payments, transfers or other benefits, whether now or hereafter established, received by the Borrower in any fiscal year aged less than 120 days.

  • Change in Control Payments means any payments made or to be made by the Company to the Company Key Employees or any other Person pursuant to that certain Data Management & Research, Inc. Change in Control Plan dated as of August 1, 2000 or otherwise as a result of the consummation of the transactions contemplated by this Agreement, including any Taxes paid or payable by the Company as a result of such payments.

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