General Severance Period definition

General Severance Period means the period of time designated in Section 4(b) herein.
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General Severance Period means, for a particular Participant, the period commencing on the Participant’s Effective Date of Termination and continuing for one month for every year of service with the Company, subject to a minimum General Severance Period of 12 months. The maximum benefit for Tier I executives shall be capped at 24 months and for Tier II executives at 18 months.
Sample 1Sample 2
General Severance Period means, for a particular Participant, the period commencing on the Participant's Effective Date of Termination and continuing for one month for every year of service with the Company, subject to a minimum General Severance Period of 12 months.
Sample 1Sample 2

Examples of General Severance Period in a sentence

  • Without the prior written consent of the Company, during the Term of this Agreement and during the General Severance Period (as set forth in Section 6.5 hereof), Executive shall not engage directly or indirectly (whether as an employee, investor, officer, director, partner, member, manager, shareholder, lender, consultant or otherwise), in any business or enterprise that is “in competition” (as defined in Section 10.1 of the Severance Plan) with the Company or its successors or assigns.

  • For Tier II Executives: A continuation of the welfare benefits of medical insurance, dental insurance, and group term life through the earlier of (1) the end of the General Severance Period or (2) until the participant obtains eligibility of welfare benefits from a subsequent employer.

  • A continuation of the welfare benefits of medical, dental and vision insurance, and group term life through the earlier of (1) the end of the General Severance Period or (2) until the participant obtains eligibility of welfare benefits from a subsequent employer Benefits provided under this Section 4.3(d) shall be provided to Participants at the same premium cost, and at the same coverage level, as in effect as of the Participant’s Effective Date of Termination.

  • A continuation of the welfare benefits of medical insurance, dental insurance, and group term life through the earlier of (1) the end of the General Severance Period or (2) until the participant obtains eligibility of welfare benefits from a subsequent employer.

  • Any General Severance Allowance will be paid in equal monthly installments, less all applicable withholding taxes, over the Eligible Officer’s General Severance Period as determined in accordance with the following table: The installment payments will commence on the sixtieth (60) day following the Termination Date provided the terminated Eligible Officer has timely executed and not revoked the Agreement required under Section 5 of this Plan.

  • The term "Severance Covered Period" shall mean a period of time commencing upon the effective date of this Agreement and ending on the last day of the Change in Control Severance Period or General Severance Period, as applicable.

  • A continuation of the welfare benefits of medical insurance, dental insurance, and group term life insurance through the end of the General Severance Period.

  • Any expense associated with the continuation of any health care coverage beyond the Former Employee’s General Severance Period will be the sole responsibility of the Former Employee.

  • Continued regular payments of the Participant's Base Salary, at the highest annual rate in effect at any time up to and including the Effective Date of Termination, through the end of the General Severance Period; In the event a Participant obtains subsequent employment during the General Severance Period, payments under this Section 4.3(a) shall be offset by Base Salary payments received by the Participant from his or her subsequent employer.

  • In the event the Former Employee and his family members become eligible for group health care coverage elsewhere on terms generally no less favorable to the Former Employee during the General Severance Period, the Former Employee shall provide notice to Tekelec, and Tekelec reserves the right to discontinue paying for such coverage under Tekelec’s group health plans.

Related to General Severance Period

  • 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.

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

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

  • Change in Control Benefits means the following benefits:

  • 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 Term means the twenty-four (24) month period following Executive’s termination by the Company without Cause (other than by reason of death or Disability) or by Executive for Good Reason.

  • Severance Benefits mean the payment of severance compensation as provided in Section 2.3 herein.

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

  • 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 Company and its Affiliates 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, 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; 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 as compensatory fringe benefits or under the terms of any benefit plan of the Employer, including severance payments under the Employer's severance policies and practices in the form most favorable to the Executive that were in effect at any time during the 180-day period prior to the Effective Date. Payment of Accrued Benefits shall be made promptly in accordance with the Employer'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.

  • Severance Amount means:

  • Compensation Accrued at Termination means the following:

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

  • 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.

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

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

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

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

  • 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.

  • 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)).

  • Employment benefits means all benefits provided or made

  • Qualifying Termination means a termination of the Executive’s employment either (i) by a Company Group member without Cause (excluding by reason of Executive’s death or Disability) or (ii) by the Executive for Good Reason, in either case, during the Change in Control Period (a “Qualifying CIC Termination”) or outside of the Change in Control Period (a “Qualifying Non-CIC Termination”).

  • Employment Termination Date means, with respect to a Participant, the first day upon which the Participant no longer has an employment or service relationship with the Company or any Related Company.

  • Extended benefits means benefits, including benefits payable to federal civilian employees and to ex-servicemen under 5 U.S.C. Chapter 85, payable to an individual under the provisions of this section for weeks of unemployment in his eligibility period.

  • COBRA Continuation Period means the continuation period for medical and dental insurance to be provided under the terms of this Agreement which shall commence on the first day of the calendar month following the month in which the date of termination falls and generally shall continue for an 18 month period.