Parent Severance Plan definition

Parent Severance Plan means the (i) International Paper Company Salaried Employee Severance Plan and (ii) any other severance plan or policy of any member of the Parent Group applicable to Business Employees.
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Parent Severance Plan has the meaning assigned in Section 6.09(d).
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Parent Severance Plan means the Midstates Severance Benefit Plan for Non-Officers as in effect on the date hereof.
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Examples of Parent Severance Plan in a sentence

  • For the avoidance of doubt, Employees who are Involuntarily Terminated during the six-month period following the Effective Time shall be deemed to meet all eligibility requirements to receive severance benefits pursuant to the Parent Severance Plan.

  • In the event that an employee who would otherwise be a SpinCo employee does not accept a transfer from Parent Group to the SpinCo Group, if such employee would be entitled to severance under the Parent Severance Plan, SpinCo shall be responsible for severance payments and benefits, if any, for such employee and shall provide such payments and benefits.

  • Your Separation Benefits will be paid according to Section 5 of the Parent Severance Plan, to the extent such treatment is consistent with the requirements for exemption from (or compliance with) Section 409A of the Internal Revenue Code of 1986, as amended.

  • During the Continuation Period, Parent will continue to maintain the Parent Severance Plan or a more favorable severance plan for the benefit of Continuing Employees, and Parent shall ensure the ongoing eligibility of any Continuing Employee who is employed by Parent as of December 31, 2019 and who, as of the Effective Time, was eligible to receive a payment under such plan based on continued service through December 31, 2019.

  • There will be no “Change of Control Proceeds” (as defined in the Parent Severance Plan) in connection with the Merger or the transactions contemplated by this Agreement, and as such no proceeds payable under Section 4(a)(i) of the Parent Severance Plan.

  • However, following the Retention Date, Parent will reasonably review any request by you to terminate your employment pursuant to the Parent Severance Plan.


More Definitions of Parent Severance Plan

Parent Severance Plan means each of [insert the names of the severance benefit plans that currently apply to U.S and expatriate employees].
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Parent Severance Plan means the Parent’s Senior Executive Severance Plan, adopted on June 24, 2015, as may be amended from time to time.
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Parent Severance Plan means that certain Anesiva, Inc. Amended and Restated Executive Change In Control and Severance Benefit Plan, effective as of July 29, 2005, as amended.
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Parent Severance Plan means a plan, in which all employees of the Company who are employed by the Company, Parent, or French Parent following the Closing are participants, providing for the same payments upon termination as provided for in the Company Severance Plan and, for the purposes of such plan, recognizing the service of such former Company employees with the Company and its Subsidiaries for purposes of eligibility, vesting and level of benefits but which plan shall terminate on the date which is six months and one day following the Closing Date.
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Parent Severance Plan has the meaning assigned in Section 6.09(d). “Parent Shareholders Meeting” has the meaning assigned in Section 6.04.
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Related to Parent Severance Plan

  • 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.

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

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

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

  • Change in Control Benefits means the following benefits:

  • Health benefits plan means a benefits plan which pays or

  • Separation Plan means the Company’s Separation Plan Amended and Restated Effective August 13, 2006, as may be amended from time to time or any successor plan, program, arrangement or agreement thereto.

  • 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 of the Company means the occurrence of any of the following events:

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

  • Change in Control of the Corporation means a change in control of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities Exchange Act of 1934, as amended ("Exchange Act"), or any successor thereto, whether or not the Corporation is registered under the Exchange Act; provided that, without limitation, such a change in control shall be deemed to have occurred if (i) any "person" (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the "beneficial owner" (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Corporation representing 25% or more of the combined voting power of the Corporation's then outstanding securities; or (ii) during any period of two consecutive years, individuals who at the beginning of such period constitute the Board of Directors of the Corporation cease for any reason to constitute at least a majority thereof unless the election, or the nomination for election by stockholders, of each new director was approved by a vote of at least two-thirds of the directors then still in office who were directors at the beginning of the period.

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

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Compensation and Benefits Programs means all compensation and benefit plans, policies, and programs of the Debtors, and all amendments and modifications thereto, applicable to the Debtors’ employees, former employees, retirees, and non-employee directors and the employees, former employees and retirees of their subsidiaries, including all savings plans, retirement plans, health care plans, disability plans, and incentive plans, deferred compensation plans, and life, accidental death, and dismemberment insurance plans.

  • Deferred Compensation Plan means any plan, agreement or arrangement maintained by the Company from time to time that provides opportunities for deferral of compensation.

  • Incentive Compensation Plan means any plan, agreement or other arrangement that provides for the grant or issuance of equity or equity-based awards and that is now in effect or is hereafter adopted by the Company or the Manager for the benefit of any of their respective employees or other service providers (including directors, advisers and consultants), or the employees or other services providers (including directors, advisers and consultants) of any of their respective Affiliates or Subsidiaries.

  • Compensation Plans shall have the meaning set forth in Section 3.8(b).

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

  • Incentive Compensation Plans means annual incentive compensation plans and long‑term incentive compensation plans of the Company, which long‑term incentive compensation plans may include plans offering stock options, restricted stock and other long‑term incentive compensation.

  • 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.

  • Company Equity Incentive Plan means the Company’s omnibus equity plan, last approved by Company Shareholders on November 6, 2018 and as proposed to be amended at the Company’s May 7, 2019 shareholders’ meeting.

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

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

  • 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.

  • Compensation and Benefit Plans has the meaning set forth in Section 5.03(m)(i).

  • Long-Term Incentive Plan or “LTIP” means a plan providing compensation intended to motivate performance over a period greater than one financial year. LTIPs do not include option or SAR plans or plans for compensation through shares or units that are subject to restrictions on resale;