Separation Benefit definition

Separation Benefit means the benefit provided for under this Plan as determined under Article III.

Separation Benefit means the benefit payable in accordance with Section 2(a)(1) of this Plan.

Separation Benefit means the amount, if any, pursuant to section

Examples of Separation Benefit in a sentence

• A Participant entitled to payment of a Separation Benefit or any other amounts under the Plan shall remain a Participant in the Plan until the full amount of the Separation Benefit and any other amounts payable under the Plan have been paid to the Participant.

• The Separation Benefit is conditioned upon Employee executing a release of claims in a form satisfactory to the Company (the “Release”) within the time specified therein, which Release is not revoked within any time period allowed for revocation under applicable law.

• Executive acknowledges that Executive would not be entitled to the Separation Benefit provided for in paragraph 3 above in the absence of Executive’s signing of this Agreement, that the Separation Benefit constitutes a substantial economic benefit to Executive, and that it constitutes good and valuable consideration for the various commitments undertaken by Executive in this Agreement.

• The Separation Benefit will be payable to Employee over time in accordance with the Company’s payroll practices and procedures beginning on the sixtieth (60th) day following the termination of Employee’s employment with the Company, provided that the Company, in its sole discretion, may begin the payments earlier.

• Neither an Employing Company nor any fiduciary of this Plan shall be liable for any taxes incurred by an Eligible Employee or Beneficiary for Separation Benefit payments made pursuant to this Plan.

More Definitions of Separation Benefit

Separation Benefit means the amount, if any, pursuant to section 59-1359, Idaho Code.

Separation Benefit means the amount, if any, payable upon or sub- sequent to separation from service.

Separation Benefit means the benefit set forth in Article 5.

Separation Benefit means the benefits payable in accordance with Section 2(a)(ii)-(iv) of this Plan.

Separation Benefit means, for any Participant, the amount of Benefits payable to such Participant pursuant to Section 3.3(a).

Separation Benefit means a special benefit determined in accordance with Section 7.1.

Separation Benefit. Upon retirement, death, or resignation of an employee, or termination by dismissal through no fault or delinquency of his own, the Town shall pay to the employee or his estate, as the case may be, an amount of money equal to 25% of the employee's accumulated unused sick leave up to a maximum of 120 days as of the effectivedate of retirement, resignation, or termination by dismissal through no fault or delinquency of his own, or the day of death.