Separation Payments and Benefits definition

Separation Payments and Benefits. Provided that Executive complies with her obligations under this Agreement, the Company shall pay Executive severance in the form of continuation of Executive’s base salary in effect on Executive’s Separation Date for the period of time from September 8, 2022 until September 30, 2023. These payments will be made on the Company’s ordinary payroll dates starting with the first pay date after Company receives a copy of this Agreement signed by Executive and the expiration of the Revocation Period without Executive revoking this Agreement, and the first payment will include any payments not yet made between September 8, 2022 and the date of the first payment. In the event that Executive obtains employment elsewhere before September 30, 2023, Executive shall promptly notify the Company of such new employment in writing, and the Company may elect to make one lump sum payment to Executive for all remaining severance amounts due to her under this Paragraph 2(a). All payments described in Paragraph 2 shall be subject to all standard deductions and withholdings, under applicable law, and shall be reported on a W-2 for the Company.
Sample 1
Separation Payments and Benefits means the following:
Sample 1

Examples of Separation Payments and Benefits in a sentence

  • In consideration of the Separation Payments and Benefits described in Paragraph 2, and for other good and valuable consideration, Employee releases the Releasees from all claims that Employee ever had, now has, or hereafter may have, whether known or unknown, asserted or unasserted, from the beginning of Employee's employment with the Company through the date of this Agreement.

  • For the avoidance of doubt, in the event the Company terminates Executive’s employment for other than Cause, then Executive shall continue to be paid as though Executive continued employment through the Planned Termination Date and, subject to the terms and conditions of Section 5, shall be entitled to the Separation Payments and Benefits described in Section 5.

  • Without admission of any liability, fact or claim, the Company hereby agrees, as consideration for Employee’s execution and non-revocation of this Agreement and Employee’s compliance with Employee’s continuing obligations pursuant to this Agreement and the post-employment obligations contained in his Employment Agreement, to provide Employee the Separation Payments and Benefits set forth below.

  • Employee acknowledges and agrees that the Separation Payments and Benefits referenced in this Section 4 constitute adequate and valuable consideration, in and of themselves, for the promises contained in this Agreement.

  • Executive acknowledges and agrees that he would not be entitled to all of the Separation Payments and Benefits in the absence of this Agreement.

  • For the avoidance of doubt, in the event the Company terminates Executive’s employment for other than Cause before the Planned Termination Date, then Executive shall be deemed to have continued employment through the Planned Termination Date and remain eligible for the Separation Payments and Benefits described in this Section 5, subject to the other terms and conditions set forth in the preceding sentence.

  • In exchange for the Consulting and Separation Payments and Benefits, the Executive agrees to execute and comply with the General Release and Agreement Not to Xxx set forth in Appendix B (the “Release”) both at the Separation Date and the termination or expiration of the Consulting Period.

  • Employee understands that if Employee revokes this Agreement, it will be null and void in its entirety, and Employee will not be entitled to the Separation Payments and Benefits or any other benefits set forth in this Agreement, other than as provided in Sections 2 and 3.

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  • You acknowledge and agree that you are not entitled to receive the Severance Payments and Benefits unless you sign (and do not revoke this Agreement), and that the Separation Payments and Benefits exceed all amounts and benefits to which you may otherwise be eligible if you did not sign this Agreement (except for the Wages set forth in Paragraph 2 above).

Related to Separation Payments and Benefits

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

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

  • Separation Payment means any lump sum cash payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.

  • 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)

  • 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.

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

  • Accrued Compensation means an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay and (iv) bonuses and incentive compensation (other than the "Pro Rata Bonus" (as hereinafter defined)).

  • Lease Termination Payments means all payments received by or on behalf of any Seller with respect to a Lease with respect to any terminations, surrenders, modifications, renewals or amendments of any such Lease.

  • Change in Control Benefits means the following benefits:

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

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive’s employment for reasonable and necessary expenses incurred by the Executive on behalf of the Employer for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, but subject to any deferral election then in effect, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained at the target level (reduced, but not below zero, by amounts paid under all such contingent bonus or incentive compensation awards upon the Change in Control of the Company to the extent such amounts relate to the same period of time); and (v) all other payments and benefits to which the Executive (or in the event of the Executive’s death, the Executive’s surviving spouse or other beneficiary) may be entitled on the Termination Date as compensatory fringe benefits or under the terms of any benefit plan of the Employer, excluding severance payments under any Employer severance policy, practice or agreement in effect on the Termination Date. Payment of Accrued Benefits shall be made promptly in accordance with the Company’s prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits; provided that payments pursuant to clause (iv)(B) shall be paid on the first day of the seventh month following the month in which the Executive’s Separation from Service occurs, unless the Executive’s Separation from Service is due to death, in which event such payment shall be made within 90 days of the date of Executive’s death.

  • 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.

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

  • Terms and Benefits means the Terms and Conditions together with the Benefit Schedule (including the Schedule of Surgical Procedures) and any related Supplement(s) as certified by the Government under this Certified Plan.

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

  • 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.

  • Employment benefits means all benefits provided or made

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

  • the Contributions and Benefits Act means the Social Security Contributions and Benefits Act 1992;

  • Compensation Accrued at Termination means the following:

  • 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.

  • Accrued Obligations are (i) Executive’s accrued but unpaid salary through the date of termination, (ii) any unreimbursed business expenses incurred by Executive payable in accordance with the Company’s standard expense reimbursement policies, and (iii) benefits owed to Executive under any qualified retirement plan or health and welfare benefit plan in which Executive was a participant in accordance with applicable law and the provisions of such plan.

  • Termination Payments has the meaning specified in Section 10(a).

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –