Payment in Lieu of Notice definition

Payment in Lieu of Notice has the meaning assigned thereto in Section 2(b) hereof.
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Payment in Lieu of Notice for the purposes of this Agreement means a sum equal to: (i) the Executive’s Salary (as referred to in clause 8.1, at the rate in force at the time such payment is made) that he would have been entitled to receive under this Agreement during the applicable notice period referred to at clause 12.2 if the applicable notice had been given (or, if notice has already been given, during the remainder of the applicable notice period) (the “Relevant Period”); (ii) the cost to the Company of providing the benefits referred to at clauses 8.5 to 8.9 that the Executive would have been entitled to receive during the Relevant Period or, if the Company in its absolute discretion decides, a sum equal to 20 per cent of Salary during the Relevant Period in satisfaction of the benefits under clauses 8.5 to 8.9; and (iii) an amount in respect of the Executive’s bonus, and in calculating such bonus, the Executive shall be treated in like manner to his fellow executive officers still employed by the Company, provided that any such bonus will be pro-rated to take account of the time the Executive was actually employed by the Company during the relevant bonus year.
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Payment in Lieu of Notice means a payment that can be made instead of actually allowing the Contractor to work through the notice period.
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Examples of Payment in Lieu of Notice in a sentence

  • The Payment in Lieu of Notice shall be paid on such date as is required by law, but no later than thirty (30) days after the date of the Executive’s Separation from Service.

  • The Payment in Lieu of Notice shall be paid on such date as is determined by the Company within thirty (30) days after the date of the Executive’s Separation from Service; provided, however, that if the Executive is a Specified Employee on the date of his or her Separation from Service, such Payment in Lieu of Notice shall be paid as provided in Section 10 hereof.

  • The Payment in Lieu of Notice shall be paid on such date as is required by law, but no later than thirty (30) days after the date of the Executive’s Separation from Service; provided, however, that if the Executive is a Specified Employee on the date of his or her Separation from Service, such Payment in Lieu of Notice shall be paid as provided in Section 9 hereof.

  • The employment of the Employee shall be deemed to have ceased on the date of the receipt of the Payment in Lieu of Notice.

  • Payment in Lieu of Notice - During a reduction of force, an employee may be offered six weeks of payment either in a lump sum or paid out over 3 pay periods when prior notice of separation is not provided.

  • A summary of the payment in lieu of notice is presented in the Appendix 1, A3 Payment in Lieu of Notice worksheet (“A3 PILON sheet”).

  • In each case, the period in respect of which the Payment in Lieu of Notice is to be calculated shall be the RELEVANT PERIOD.

  • If the customer wishes to reduce the Contract Minimum Demand before the required notice period, a Payment in Lieu of Notice (PILON) is required.

  • Any entitlement that the Employee has or may have under any plan referred to under clause 5 and any future stock or other incentive plan shall be determined in accordance with the rules of the relevant plan and shall not be affected by the Employee's receipt of the Payment in Lieu of Notice.

  • The Payment in Lieu of Notice shall be made in full and final settlement of any claims the Executive may have against the Company or any Group Company in connection with his notice period.


More Definitions of Payment in Lieu of Notice

Payment in Lieu of Notice has the meaning assigned thereto in Section 2(b) hereof. “Person” means any person, entity or “group” within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, except that such term shall not include (1) Sempra Energy or any of its Affiliates, (2) a trustee or other fiduciary holding securities under an employee benefit plan of Sempra Energy or any of its Affiliates, (3) an underwriter temporarily holding securities pursuant to an offering of such securities, (4) a corporation owned, directly or indirectly, by the shareholders of Sempra Energy in substantially the same proportions as their ownership of stock of Sempra Energy, or (5) a person or group as used in Rule 13d-1(b) under the Exchange Act. “Post-Change in Control Severance Payment” has the meaning assigned thereto in Section 5 hereof. “Pre-Change in Control Severance Payment” has the meaning assigned thereto in Section 4 hereof. “Principal Location” has the meaning assigned thereto in clause (b)(iii) of the definition of Good Reason, above. “Proprietary Information” has the meaning assigned thereto in Section 14(a) hereof. “Pro Rata Bonus” has the meaning assigned thereto in Section 5(b) hereof. “Release” has the meaning assigned thereto in Section 4 hereof. “Section 409A Payments” means any payments under this Agreement which are subject to Section 409A of the Code. “Sempra Energy Control Group” means Sempra Energy and all persons with whom Sempra Energy would be considered a single employer under Section 414(b) or 414(c) of the Code, as determined from time to time. “Separation from Service” has the meaning set forth in Treasury Regulation Section 1.409A-1(h). “SERP” has the meaning assigned thereto in Section 5(c) hereof. “Specified Employee” shall be determined in accordance with Section 409A(a)(2)(B)(i) of the Code and Treasury Regulation Section 1.409A-1
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Payment in Lieu of Notice shall be equal to:
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Payment in Lieu of Notice refers to a payment amount as described in Article 32.3(a)(ii) which the affected Society-represented lawyer(s) may choose to receive in lieu of their Working Notice period and entitlements to displacement, redeployment and recall as set out in this Article.
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Payment in Lieu of Notice means:(a)the payment received by You in relation to the notice period the employer should have given according to the terms of Your employment or letter of appointment; or(b)any part of a compensation payment for loss of employment (including any part of a payment under a settlement agreement) that is directly or indirectly related to the notice period the employer should have given to You under the employment or letter of appointment.
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Related to Payment in Lieu of Notice

  • Payment Notice has the meaning assigned to it in Section 8.06(c).

  • date of notification means the date on which a notice is served as contemplated in section 35 or published in the media or Provincial Gazette;

  • CAFA Notice refers to the notice requirements imposed by 28 U.S.C. § 1715(b).

  • Xxxxx Notice means the Notice of Grant of Stock Option accompanying the Agreement, pursuant to which Optionee has been informed of the basic terms of the option evidenced hereby.

  • Form of Notice of Conversion means the “Form of Notice of Conversion” attached as Attachment 1 to the Form of Note attached hereto as Exhibit A.

  • Step-In Notice has the meaning set out in Section 3.1;

  • Acceptance and Prepayment Notice means a notice of the Borrower’s acceptance of the Acceptable Discount in substantially the form of Exhibit M.

  • Tax Notice has the meaning set forth in Section 2.06(a).

  • Certified mills means the lesser of 18 mills or the number of mills of school operating taxes levied by the district in 1993-94.

  • OJEU Notice means the contract notice published in the Official Journal of the European Union.

  • Repayment Notice Each notice required to be delivered by the Borrower pursuant to Section 2.3 in respect of any reduction in the Facility Amount or repayment of Advances Outstanding, in the form of Exhibit A-2.

  • Mandatory Tender Notice means, in connection with the Mandatory Tender of VRDP Shares, a notice, substantially in the form attached to the VRDP Shares Remarketing Agreement as Annex II, delivered by the Fund or the Tender and Paying Agent on behalf of the Fund to the Holders and the Liquidity Provider in accordance with this Agreement and specifying a Mandatory Tender Event and Purchase Date.

  • Consent Notice has the meaning set forth in Section 4.6(a).

  • Repurchase Request Withdrawal As defined in Section 2.03(a) of this Agreement.

  • Accelerated Purchase Notice means, with respect to any Accelerated Purchase made pursuant to Section 2(b) hereof, an irrevocable written notice from the Company to the Investor directing the Investor to buy a specified Accelerated Purchase Share Amount on the applicable Accelerated Purchase Date pursuant to Section 2(b) hereof at the applicable Accelerated Purchase Price.

  • Requisite Notice means a notice delivered in accordance with Section 10.02.

  • Repurchase Response Notice means a notice delivered by the Indenture Trustee at the direction of the Administrator to a Noteholder or Note Owner indicating that a Repurchase Request is unresolved.

  • Repurchase Request shall have the meaning assigned to such term in Section 2.4(a) of the Sale and Servicing Agreement.

  • Purchase Request or "purchase requisition" means that document whereby a using

  • Additional Accelerated Purchase Notice means, with respect to an Additional Accelerated Purchase made pursuant to Section 2(c) hereof, an irrevocable written notice from the Company to the Investor directing the Investor to purchase the applicable Additional Accelerated Purchase Share Amount at the Additional Accelerated Purchase Price for such Additional Accelerated Purchase in accordance with this Agreement, and specifying any Additional Accelerated Purchase Minimum Price Threshold determined by the Company.

  • Mandatory Purchase Notice means, in connection with the Mandatory Purchase of VRDP Shares, a notice substantially in the form attached to the VRDP Shares Purchase Agreement as Exhibit B, delivered by the Fund or the Tender and Paying Agent on behalf of the Fund to the Holders and the Liquidity Provider in accordance with the VRDP Shares Purchase Agreement specifying a Mandatory Purchase Date.

  • Repurchase Notice has the meaning set forth in Section 8.6(a).

  • VWAP Purchase Notice means an irrevocable written notice from the Company to the Buyer directing the Buyer to buy Purchase Shares on the VWAP Purchase Date pursuant to Section 1(c) hereof as specified by the Company therein at the applicable VWAP Purchase Price with the applicable VWAP Purchase Share Percentage specified therein.

  • Written Notice means a notice or communication in writing and shall be deemed to have been duly served if delivered in persons to the individual or to a member of the contractors firm or to an office of the company for whom it is intended, or if delivered at or sent by registered mail to the last business address known to him who gives the notice.

  • Notice of Settlement means the form attached hereto as Exhibit A.

  • Notice of Purchase Withdrawal Has the meaning specified in the Deposit Agreement.