Executive Severance definition

Executive Severance means: (i) twelve months of the Executive's then current monthly salary (without taking into account any reductions which may have occurred at or after the date of a Change in Control); plus (ii) an amount equal to the greater of (a) the Executive's average annual award actually paid under Primex's short-term annual incentive compensation plans or programs ("ICP") for the three years (or for such fewer years as the ICP may have been in effect) immediately preceding the date of Termination or (b) the Executive's then current ICP standard annual award. (iii) The Executive will not be entitled to receive any other severance otherwise payable to the Executive under any other severance plan of Primex. (iv) If on the Termination date the Executive is eligible and is receiving payments under any then existing Primex disability plan, then the Executive agrees that all such payments may, and will be, suspended and offset for 12 months following the Termination date. If after such period the Executive remains eligible to receive disability payments, then such payments shall resume in the amounts and in accordance with the provisions of the applicable Primex disability plan.
Executive Severance means: (i) twelve months of the Executive's then current monthly salary (without taking into account any reductions which may have occurred at or after the date of a Change in Control); plus (ii) an amount equal to the greater of the Executive's average annual award actually paid under Primex's short-term annual incentive compensation plans or programs ("ICP") for the three years (or for such fewer years as the ICP may have been in effect) immediately preceding the date of Termination or the Executive's then current ICP standard annual award. (iii) The Executive will not be entitled to receive any other severance otherwise payable to the Executive under any other severance plan of Primex. (iv) If on the Termination date the Executive is eligible and is receiving payments under any then existing Primex disability plan, then the Executive agrees that all such payments may, and will be, suspended and offset for 12 months following the Termination date. If after such period the Executive remains eligible to receive disability payments, then such payments shall resume in the amounts and in accordance with the provisions of the applicable Primex disability plan.
Executive Severance means: (i) twelve months of the Executive's then current monthly salary (without taking into account any reductions which may have occurred at or after the date of a Change in Control); plus (ii) an amount equal to the greater of (A) the Executive's average annual award actually paid under Arch Chemicals' short-term annual incentive compensation plans or programs ("ICP") (including zero if nothing was paid or deferred but including any portion thereof the Executive has elected to defer) for the three completed fiscal years immediately preceding the date of Termination (or if the Executive has not participated in ICP for such three completed fiscal years, the average of any such awards for the shorter period of years in which the Executive was a participant) and (B) the Executive's then current ICP standard annual award.

Examples of Executive Severance in a sentence

  • Executive Severance and Change in Control Plan, but only to the extent applicable to you as an eligible participant in such Plan.

  • Upon any Termination of Employment entitling the Employee to payments under this Agreement, the Employee shall receive all accrued but unpaid salary and all benefits accrued and payable under any plans, policies and programs of the Company and its Subsidiaries or Affiliates, provided that the Employee shall not receive severance benefits under the Executive Severance Plan or any other severance plan of the Company or a Subsidiary or Affiliate.

  • If the Executive receives the Executive Severance (including the amount referred to in Paragraph 1(d)(ii)), the Executive shall not be entitled to an ICP award for the calendar year of Termination if Termination occurs during the first calendar quarter.

  • The claim should be sent to the attention of the Plan Administrator of the Executive Severance Plan at the address set forth for Umpqua in Section 20.

  • Even if the Executive receives the Executive Severance (including the amount referred to in Paragraph 1(d)(ii)), if Termination occurs during or after the second calendar quarter, the Executive shall also be entitled to a prorated ICP award for the calendar year of Termination which shall be determined by multiplying his or her then current ICP standard by a fraction the numerator of which is the number of weeks in the calendar year prior to the Termination and the denominator of which is 52.


More Definitions of Executive Severance

Executive Severance means the obligations of the Company or any of its Subsidiaries to the Executives for severance or termination payments on the change of control of the Company pursuant to any agreements or severance or retention policy (excluding for greater certainty pursuant to any Incentive Awards).
Executive Severance means: (i) twelve months of the Executive's then current monthly salary (without taking into account any reductions which may have occurred at or after the date of a Change in Control); plus (ii) an amount equal to the greater of (a) the Executive's average annual award actually paid under Primex's short-term annual incentive compensation plans or programs ("ICP") for the three years (or for such fewer years as the ICP may have been in effect) immediately preceding the date of Termination or (b) the Executive's then current ICP Target Incentive. (iii) The Executive will not be entitled to receive any other severance otherwise payable to the Executive under any other severance plan of Primex. (iv) If on the Termination date the Executive is eligible and is receiving payments under any then existing Primex disability plan, then the Executive agrees that all such payments may, and will be, suspended and offset for 12 months following the
Executive Severance means the charges and expenses set forth on Schedule 1 to the First Amendment and all other charges related thereto.
Executive Severance means: (i) twelve months of Executive’s then current monthly salary; plus (ii) an amount equal to the greater of (A) Executive’s average annual award actually paid in cash (or, in the event that the award in respect of the calendar year immediately prior to the year in which the date of Termination occurs has not yet been paid, the amount of such award that would have been payable in cash in the year in which the date of Termination occurs had Executive not incurred a Termination) under Olin’s short-term annual incentive compensation plans or programs (“ICP”) (including zero if nothing was paid or deferred but including any portion thereof Executive has elected to defer and, for the avoidance of doubt, excluding any portion of an annual award that Executive does not have a right to receive currently in cash) in respect of the three calendar years immediately preceding the calendar year in which the date of Termination occurs (or if Executive has not participated in ICP for such three completed calendar years, the average of any such awards in respect of the shorter period of years in which Executive was a participant) and (B) Executive’s then current ICP standard annual award in respect of the year in which the date of Termination occurs.
Executive Severance means: (i) twelve months of the Executive's then current monthly salary (without taking into account any reductions which may have occurred at or after the date of a Change in Control); plus (ii) an amount equal to the greater of the Executive's average annual award actually paid under Olin's short-term annual incentive compensation plans or programs ("ICP") for the three years immediately preceding the date of Termination or the Executive's then current ICP standard annual award. (iii) The Executive will not be entitled to receive any other severance otherwise payable to the Executive under any other severance plan of Olin. (iv) If on the Termination date the Executive is eligible and is receiving payments under any then existing Olin disability plan, then the Executive agrees that all such payments may, and will be, suspended and offset for 12 months following the Termination date. If after such period the Executive remains eligible to receive disability payments, then such payments shall resume in the amounts and in accordance with the provisions of the applicable Olin disability plan.
Executive Severance means, in the case of a Participant’s Qualifying Termination, the Participant’s applicable Severance Multiple times the sum of (i) twelve months of the Participant’s Base Salary, plus (ii) the Participant’s Target Bonus.
Executive Severance means: (i) twelve months of the Executive’s then current monthly salary (without taking into account any reductions which may have occurred at or after the date of a Change in Control); plus (ii) an amount equal to the greater of (A) the Executive’s average annual award actually paid in cash (or, in the event that the award in respect of the calendar year immediately prior to the year in which the date of Termination occurs has not yet been paid, the amount of such award that would have been payable in cash in the year in which the date of Termination occurs had Executive not incurred a Termination) under Olin’s short-term annual incentive compensation plans or programs (“ICP”) (including zero if nothing was paid or deferred but including any portion thereof the Executive has elected to defer and, for the avoidance of doubt, excluding any portion of an annual award that is credited to an Executive’s bonus “bank” or that the Executive otherwise does not have a right to receive currently in cash) in respect of the three calendar years immediately preceding the calendar year in which the date of Termination occurs (or if the Executive has not participated in ICP for such three completed calendar years, the average of any such awards in respect of the shorter period of years in which the Executive was a participant) and (B) the Executive’s then current ICP standard annual award in respect of the year in which the Date of Termination occurs. Notwithstanding the foregoing, in the event that an amount is payable to the Executive under Section 4(b), such additional amount shall also be treated as “executive severance” for purposes of any Olin benefit plan that takes payments of “executive severance” into account in determining benefits payable under such plan.