Monthly Severance Amount definition

Monthly Severance Amount means an amount equal to one-twelfth of Executive’s Annual Compensation.

Monthly Severance Amount means an amount equal to one-twelfth of Executive’s Annual Base Salary.

Monthly Severance Amount means an amount equal to one-twelfth of Executive's annual base salary pursuant to paragraph 3.1 in effect immediately prior to Executive's Involuntary Termination; and

Examples of Monthly Severance Amount in a sentence

• The provisions of this Section 5.7 shall also apply, to the extent required under Section 409A of the Code, to any payment of the Monthly Severance Amount to Executive pursuant to Section 7.1(b).

• Company may set off any amounts owed by Executive to Company or any of its affiliates against any obligation to pay the Monthly Severance Amount.

• Any change to the technical and other information set out in the CSDs will follow the change process as set out in CSD 0501 (Change Management).

• No remuneration or wages earned by Executive during or with respect to the Severance Period (whether earned as an employee, independent contractor, sole proprietor, joint venturer, or otherwise) shall reduce Company’s obligation to pay the Monthly Severance Amount each month during the Severance Period.

• Provided Executive elects to continue health coverage under COBRA following the date of termination, the Company will pay a portion of the premiums to continue Executive’s medical, vision and dental insurance for the period during which Executive is entitled to receive the Monthly Severance Amount, regardless of whether Executive is legally entitled to COBRA benefits during such period (the “Health Benefits Continuation”).

More Definitions of Monthly Severance Amount

Monthly Severance Amount means an amount equal to the quotient of (i) the Base Salary as of the date of termination divided by (ii) 12.

Monthly Severance Amount means the sum of (i) Participant’s Monthly Base Salary plus (ii) one-twelfth (1/12) of Participant’s Annual Bonus.

Monthly Severance Amount means an amount equal to one-twelfth of Employee’s annual base salary pursuant to paragraph 3.1 in effect immediately prior to the termination of Employee’s employment;

Monthly Severance Amount shall equal (x) one times (1x) the sum of (A) Employee’s Base Salary in effect immediately before the termination of Employee, plus (B) Employee’s Target Bonus for the applicable calendar year at the time of Employee’s termination, divided by (y) eighteen (18).

Monthly Severance Amount means, as specified in the Participation and Restrictive Covenant Agreement for a Participant, either (i) the Participant’s Monthly Base Salary or (ii) the 3sum of (x) Participant’s Monthly Base Salary plus (y) one-twelfth (1/12) of Participant’s Annual Bonus.

Monthly Severance Amount shall equal (i) 150% of Employee’s Base Salary in effect immediately before the termination of Employee divided by (ii) twelve (12). Upon a Termination without Cause, a Good Reason Termination or a Disability Termination, Employee shall (a) be immediately vested in any outstanding Unvested Equity Awards as of the date of such termination and (b) be entitled to retain any Vested Equity Awards as of the date of such termination, subject, in the case of clauses (a) and (b) of this sentence, to the repurchase provisions of the Stockholders’ Agreement and any other applicable grant documents or plan. If the Company delivers a Non-Renewal Notice, Employee (and his assigns and transferees) shall (i) forfeit any Unvested Equity Awards as of the first day after the Term in which such Non-Renewal Notice is delivered and (ii) be entitled to retain any Vested Equity Awards, subject to the repurchase provisions of the Stockholders’ Agreement and any other applicable grant documents or plan. Employee shall not be entitled to receive any Severance Payments or Severance Benefits pursuant to this Section 3.5, and shall forfeit any Unvested Equity Awards held by him, unless within sixty (60) days following his termination of employment during Employee’s lifetime (or, if later, within thirty (30) days of the Company providing notice to Employee that he is required to deliver a release pursuant to this sentence) and provided that Employee is alive and competent to do so, Employee has executed (and not revoked) and delivered to the Company a general release of all claims that Employee may have or assert against the Company and its Affiliates relating to Employee’s employment and the terms hereunder in the form attached hereto as Exhibit A. If the Company has notified Employee that Employee’s employment with the Company has been terminated for Cause, then Employee will not be obligated to provide the release contemplated by this Section 3.5 and shall not, solely are a result of Employee’s failure to have provided the release contemplated by this Section 3.5, if it is subsequently determined that Employee was not properly terminated for Cause, forfeit or lose his right to receive any Severance Payments, Severance Benefits or other rights pursuant to this Section 3.5, and shall not forfeit or lose any Unvested Equity Awards held by him as of the date of such termination.

Monthly Severance Amount means Participant’s Monthly Base Salary.Except with respect to the amendments described herein, all terms of the Plan and your Participation and Restrictive Covenant Agreement shall continue to apply without modification.To confirm your understanding of and agreement to the foregoing, please sign below and return one duplicate original of this letter to Christina Flint. You should keep the other duplicate original for your records.Sincerely, Diplomat Pharmacy, Inc. By: /s/ Brian Griffin Name: Brian Griffin Title: Chairman & CEO