New Severance Arrangement definition

New Severance Arrangement means (i) any employment, severance or separation agreement entered into with an Executive Officer, or any plan or policy established by the Company, after the Effective Date to the extent it provides eligibility for Cash Severance Benefits, and (ii) any amendment to an employment, severance or separation agreement with an Executive Officer, or to a plan or policy, that is in effect on the Effective Date that increases the Cash Severance Benefits for which an Executive Officer is eligible and are payable to an Executive Officer thereunder. For purposes of clarity under this Policy, (a) any increase in an Executive Officer’s base salary or incentive compensation target or opportunity made in the ordinary course of business shall not be deemed to increase the Cash Severance Benefits for which an Executive Officer is eligible under any such agreement, plan or policy; (b) any renewal or extension of any such agreement, plan or policy in effect on the Effective Date shall not, by itself, be considered the entry into a New Severance Arrangement or an amendment thereto; and (c) an agreement, plan or policy that is assumed by the Company as a result of a business combination or acquisition shall not be considered a New Severance Arrangement or an amendment thereto.
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New Severance Arrangement means any employment, severance or separation agreement, or severance plan or policy, entered into after the Effective Date (subject to (c) below), to the extent it provides Cash Severance Benefits. For the sake of clarity: (a) any amendment to an employment, severance or separation agreement, or severance plan or policy, that is in effect on the Effective Date that increases the Cash Severance Benefits shall be considered a New Severance Arrangement for purposes of this Policy, provided that any amendment to an existing agreement that increases an Executive Officer’s base salary or incentive compensation target or opportunity shall not, in any event, be deemed to increase the Cash Severance Benefits under the agreement; (b) any renewal or extension of an agreement in effect on the Effective Date shall not be considered a New Severance Arrangement or an amendment thereto for purposes of this Policy; and (c) an agreement that is assumed by the Company as a result of a business combination or acquisition shall not be considered a New Severance Arrangement or an amendment thereto for purposes of this Policy.
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New Severance Arrangement means (i) any employment, severance or separation agreement entered into with an Executive Officer, or any plan or policy established by the Company, after the Effective Date to the extent it provides eligibility for Cash Severance Benefits, and (ii) any amendment to an employment, severance or separation agreement with an Executive Officer, or to a plan or policy, that is in effect on the Effective Date that increases the Cash Severance Benefits for which an Executive Officer is eligible or are payable to an Executive Officer thereunder.
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More Definitions of New Severance Arrangement

New Severance Arrangement means, except as otherwise provided herein, any new employment, retention, severance, or separation agreement with any Executive Officer of the Company, or any new severance plan or policy covering any Executive Officer of the Company that is entered into or adopted after the Effective Date to the extent it provides for Cash Severance
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Related to New Severance Arrangement

  • 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.

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

  • CIC Severance Plan means the Company’s Change in Control Severance Plan, as may be amended from time to time, or any successor plan, program or arrangement thereto.

  • Change in Control Benefits means the following benefits:

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

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

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

  • 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)

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

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

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

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

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

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

  • 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.

  • Share Compensation Arrangement means any stock option, stock option plan, employee stock purchase plan or any other compensation or incentive mechanism involving the issuance or potential issuance of Shares, including a share purchase from treasury which is financially assisted by the Corporation by way of a loan, guarantee or otherwise;

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

  • Change in Control Period means the period beginning three (3) months prior to a Change in Control and ending twelve (12) months following a Change in Control.

  • Change in Control Termination means an “Involuntary Termination Without Cause” or “Resignation for Good Reason,” either of which occurs on, or within three (3) months prior to, or within twelve (12) months following, the effective date of a Change in Control, provided that any such termination is a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h). Death and disability shall not be deemed Change in Control Terminations.

  • Severance Costs means the costs which the employers are legally obliged to pay to or in respect of the Crew as a result of the early termination of any employment contract for service on the Vessel.

  • Section 409A Change in Control means a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the Company’s assets, as provided in Section 409A(a)(2)(A)(v) of the Code and Treasury Regulations Section 1.409A-3(i)(5) (without regard to any alternative definition thereunder).

  • 409A Change in Control means a "Change in Control" which also constitutes a change in ownership or effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company, all within the meaning of § 409A.

  • Change in Control Agreement means a written Change in Control Agreement between an employee and the Company or an Affiliate.