Executive Severance Benefits definition

Executive Severance Benefits means the benefits described in Section 3(B) hereof.
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Executive Severance Benefits. All compensation and benefits (including all employment tax liabilities in respect thereof) required to be provided under the terms of the Executive Severance Arrangements.
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Examples of Executive Severance Benefits in a sentence

  • The Company has agreed that if I choose to sign this Release, the Company will provide me with the severance benefits described in that certain Executive Severance Benefits Agreement (the "AGREEMENT") between me and the Company dated _____, 2004.

  • If at any time after Executive Severance Benefits become payable hereunder and prior to the completion of the payment of such benefits Executive is charged with a felony, or other crime involving moral turpitude, which crime relates to activities of Executive occurring during the period Executive was employed by Company or its predecessor(s) under this Agreement, then Company may suspend such payments until such criminal charge is resolved.

  • If Executive is Disabled during any period while Executive is entitled to Executive Severance Benefits hereunder, then, during any such period that Executive is Disabled, any amounts payable under Section 3(B) hereof during such period shall be reduced (but not to less than zero) by the amounts paid or to be paid with respect to such period to Executive pursuant to any long-term disability plan maintained by Company.

  • Executive Severance Benefits" shall mean the benefits described in Section 3(B) hereof.

  • Certain capitalized terms used in this Release are defined in the Amended and Restated Executive Severance Benefits Agreement, which I have executed and of which this Release is a part.

  • Certain capitalized terms used in this Release are defined in the Executive Severance Benefits Agreement, which I have executed and of which this Release is a part.

  • This Agreement shall supersede any other agreement relating to cash severance benefits and health benefits in the event of Executive's severance from employment with the Company following a Change in Control, including that certain Executive Severance Benefits Agreement between the Company and Executive dated as of February 2, 1999 (the "Prior Agreement").

  • For the purposes of Cigna’s Executive Severance Benefits Plan, this Agreement shall be considered an individual agreement that provides severance benefits and payments upon a termination of employment pursuant to Section 3 hereof shall be considered severance benefits.

  • Xxxxxxx Title: Chief Executive Officer Exhibit A: Release (Individual Termination) Exhibit B: Release (Group Termination) EXHIBIT A (INDIVIDUAL TERMINATION) Certain capitalized terms used in this Release are defined in the Executive Severance Benefits Agreement (the “Agreement”) which I have executed and of which this Release is a part.

  • Without limiting the generality of --------------------------------- the foregoing, and also for and in consideration of the Company's agreement to provide Executive Severance Benefits described in Article 3 of the Agreement, Executive specifically acknowledges and agrees that he does hereby knowingly and voluntarily release Mirant, the Company and all other Released Parties from any and all claims arising under the Age Discrimination in Employment Act, 29 U.S.C. ss.

Related to Executive Severance Benefits

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

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

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

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

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

  • Employment benefits means all benefits provided or made

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

  • Change in Control Benefits means the following benefits:

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

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

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive’s employment for reasonable and necessary expenses incurred by the Executive on behalf of the Employer for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, but subject to any deferral election then in effect, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained at the target level (reduced, but not below zero, by amounts paid under all such contingent bonus or incentive compensation awards upon the Change in Control of the Company to the extent such amounts relate to the same period of time); and (v) all other payments and benefits to which the Executive (or in the event of the Executive’s death, the Executive’s surviving spouse or other beneficiary) may be entitled on the Termination Date as compensatory fringe benefits or under the terms of any benefit plan of the Employer, excluding severance payments under any Employer severance policy, practice or agreement in effect on the Termination Date. Payment of Accrued Benefits shall be made promptly in accordance with the Company’s prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits; provided that payments pursuant to clause (iv)(B) shall be paid on the first day of the seventh month following the month in which the Executive’s Separation from Service occurs, unless the Executive’s Separation from Service is due to death, in which event such payment shall be made within 90 days of the date of Executive’s death.

  • Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.

  • 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 Term means the twelve (12) month period following Employee’s termination by the Company without Cause (other than by reason of death or Disability) or by Employee for Good Reason.

  • Vested Benefits means amounts which are vested or which Executive is otherwise entitled to receive under the terms of or in accordance with any plan, policy, practice or program of, or any contract or agreement with, the Company or any of its subsidiaries, at or subsequent to the date of his termination without regard to the performance by Executive of further services or the resolution of a contingency.

  • 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.

  • Retention Bonus means an incentive bonus provided under

  • 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)).

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

  • Public Benefits means the provision of benefits to the community by the Developer in the form and at the times specified in Schedule 3.

  • 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.

  • Executive Employee means those employees of the Company of Grade Level 10 or above.

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

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;