Examples of Separation Period in a sentence
The Separation Benefit payable to an Eligible Employee with respect to any Separation Period shall be reduced (but not below zero) by the amount of any disability benefit payable from any disability plan or program sponsored or contributed to by an Employing Company.
For purposes of determining eligibility (but not the time of commencement of benefits) of the Participant for retiree medical, dental and life insurance benefits under the Company’s plans, practices, programs and policies, the Participant shall be considered to have remained employed during the Separation Period and to have retired or terminated employment on the last day of such period.
Notwithstanding anything in the Plan to the contrary, the Separation Period for an Eligible Employee shall never exceed the amount of time permitted under ERISA to maintain this Plan as a welfare benefit plan.
The “COBRA” continuation period for a Participant shall commence following the last day of the Separation Period.
All stock options and other incentive awards held by the Executive shall become fully vested and exercisable during the Separation Period.