Company Severance Policy definition

Company Severance Policy has the meaning given such term in Section 5.11(b).
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Company Severance Policy means the Company's severance policy as in effect on the date hereof (a copy of which has been made available to Parent).
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Examples of Company Severance Policy in a sentence

  • Change in Control and Severance Policy, as in effect from time to time (the "Company Severance Policy"), subject to the terms of such Policy, the Executive's Participation Agreement relating thereto and the terms of this Agreement.

  • If the Executive’s employment by the Company is terminated in a Qualifying Termination during the three (3) months preceding or twenty four (24) months following a “Change in Control” (as defined in the Company Severance Policy), the Company shall pay or provide the Executive with the same benefits described in Section 9(d), provided that the benefits described in Section 9(d)(ii) shall be doubled.

  • This Policy applies solely to eligible employees of the Company who have an annual Regular Base Salary of $60,000 or more on their Termination Date, other than employees who are eligible for The Western Union Company Severance Policy (Senior Vice President-Level) or The Western Union Company Severance/Change in Control Policy (Executive Committee Level).

  • The terms of the Company Severance Policy will be provided to you upon request.

  • Payments and benefits provided in this Section 9(e) shall be in lieu of any termination or severance payments or benefits for which the Executive may be eligible under any of the plans, policies or programs of the Company, including without limitation the Company Severance Policy, or under the Worker Adjustment Retraining Notification Act of 1988 or any similar state statute or regulation, subject to the following.

  • Aurora, CO 80016 Dear Raj: In the event of your termination of employment for an eligible reason under the terms of The Western Union Company Severance Policy (Banded Executive Level) (the “Policy”), you will be eligible to receive severance pay equal to the sum of your current annual base salary and your current annual target bonus (the “Severance Pay”).

  • For the avoidance of doubt, nothing in the Plan shall affect a Key Employee’s eligibility to receive severance payments or benefits under an applicable Company Severance Policy in connection with a Non-Change in Control Termination.

  • In addition, your severance benefit under the Severance Policy will be reduced (but not below zero) by all amounts of severance pay or similar pay to which you may be entitled to under any other Company Severance Policy, benefits mandated by state or federal law, payment in lieu of WARN notification or any individual written employment agreement or other written agreement relating to payment upon separation from employment or change of control of the Company.

  • You will be required to repay a prorated portion of the cash portion of the signing bonus received (based on the number of full months remaining of the 24 after your termination date), if you terminate your employment with Western Union, other than a termination for Good Reason following a Change of Control pursuant to the Company Severance Policy, within 24 months of your date of hire.

Related to Company Severance Policy

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

  • Executive Severance Plan means the Company’s Senior Executive Employee Severance Pay Plan, as in effect from time to time.

  • 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.

  • Change in Control Benefits means the following benefits:

  • 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)

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

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

  • Company Equity Award means a Company Stock Option or a Company Stock Award or a phantom stock award, as the case may be.

  • Severance Amount means:

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

  • Company Employee Agreement means any management, employment, severance, change in control, transaction bonus, consulting, repatriation or expatriation agreement or other contract between any Group Company and any current or former employee, director or officer of such Group Company.

  • Nonqualifying Termination means a termination of the Executive’s employment (1) by the Company for Cause, (2) by the Executive for any reason other than a Good Reason, (3) as a result of the Executive’s death or (4) by the Company due to the Executive’s absence from his duties with the Company on a full-time basis for at least 180 consecutive days as a result of the Executive’s incapacity due to physical or mental illness.

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

  • Severance Date means the date on which an Executive incurs a Severance, which shall be the date of termination as determined under Section 5.2.

  • Company Equity Awards means the Company Options and the Company RSUs.

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

  • Severance Plan means any severance plan maintained by the Company that is applicable to the Participant.

  • 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).

  • Severance Agreement means the Amended and Restated Key Executive Severance Agreement, dated as of the date hereof, between the parties, as it may be amended from time to time, that provides for certain benefits related to termination of the Executive’s employment that are unrelated to a Change of Control.

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

  • Company Employee means an employee of the Company or any of its Subsidiaries.

  • Retention Bonus means the amount equal to:

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

  • Non-Exempt Severance Arrangement means a severance arrangement or other agreement between the Participant and the Company that provides for acceleration of vesting of an Award and issuance of the shares in respect of such Award upon the Participant’s termination of employment or separation from service (as such term is defined in Section 409A(a)(2)(A)(i) of the Code (and without regard to any alternative definition thereunder) (“Separation from Service”) and such severance benefit does not satisfy the requirements for an exemption from application of Section 409A provided under Treasury Regulations Section 1.409A-1(b)(4), 1.409A-1(b)(9) or otherwise.