Severance Benefit Plan definition

Severance Benefit Plan means any plan, policy or arrangement providing severance benefits for executive officers (and any other employees) of the Company.
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Severance Benefit Plan means the Lincoln National Corporation Executives’ Severance Benefit Plan, as it may be amended from time to time.
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Severance Benefit Plan means the iPass Inc. Severance Benefit Plan, established effective January 1, 2001, as amended and restated effective August 1, 2009.
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Examples of Severance Benefit Plan in a sentence

  • In the event of a change of control (as defined in the Company’s Change of Control Severance Benefit Plan), the terms of this Agreement shall inure to the benefit of, and be assumed by, the acquiring person (as defined in the Company’s Change of Control Severance Benefit Plan).

  • In such case, the cash severance benefits under this Agreement shall be in lieu of the cash severance benefits payable under the Company's Executive Severance Benefit Plan.

  • As is more fully set forth in Section 6 hereof, the Employee shall not be entitled to duplicative payments under this Agreement and the Executive Severance Benefit Plan.

  • Executive Severance Benefit Plan (the “Severance Plan”), subject to the terms and conditions of such plan.

  • If this Agreement would provide better cash severance benefits to the Employee than the Company's Executive Severance Benefit Plan, the Employee shall receive the cash severance benefits under this Agreement, as well as any other benefits or coverages available under this Agreement.

  • If at any time the Company's Executive Severance Benefit Plan would provide better cash severance benefits to the Employee than this Agreement, the Employee may elect to receive such better cash severance benefits in lieu of the cash severance benefits provided under Subsections 5(a)(i) and 5(a)(ii), or Subsection 5(a)(v), of this Agreement, whichever is applicable, while continuing to receive any other benefits or coverages available under this Agreement.

  • Amounts which the Employee or the Employee’s dependents or beneficiaries are otherwise entitled to receive under any such plan, policy, practice or program shall not be reduced by this Agreement except as provided in Section 6 hereof with respect to payments under the Executive Severance Benefit Plan if cash payments of annual base salary are made hereunder.

  • In making such determination, the Committee shall consider the nature of such Change of Control, whether continuation of the Plan and the awards for the Performance Cycle are feasible, and whether the resulting corporate entity, if any, offers or commits to offer awards of comparable economic value; provided, however, that the Committee’s determination shall be consistent with existing LNC plans, such as the Plan and the LNC Executives’ Severance Benefit Plan.

  • If this Agreement would provide better cash severance benefits to the Employee than the Company’s Executive Severance Benefit Plan, the Employee shall receive the cash severance benefits under this Agreement, as well as any other benefits or coverages available under this Agreement.

  • In such case, the cash severance benefits under this Agreement shall be in lieu of the cash severance benefits payable under the Company’s Executive Severance Benefit Plan.


More Definitions of Severance Benefit Plan

Severance Benefit Plan means the Company's 2003 Severance Benefit Plan.
Sample 1

Related to Severance Benefit Plan

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

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

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

  • 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.

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

  • Seller Benefit Plan means each Benefit Plan sponsored, maintained or contributed to by Seller or any of its Subsidiaries or with respect to which Seller or any of its Subsidiaries is a party and in which any Employee is or becomes eligible to participate or derive a benefit.

  • Health benefit plan means a policy, contract, certificate or agreement offered or issued by a health carrier to provide, deliver, arrange for, pay for or reimburse any of the costs of health care services.

  • Change in Control Benefits means the following benefits:

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

  • Parent Benefit Plan means an Employee Benefit Plan sponsored, maintained, or contributed to (or required to be contributed to) by Parent or any of its Subsidiaries, or under or with respect to which Parent or any of its Subsidiaries has any current or contingent liability or obligation.

  • Foreign Benefit Plan means any Employee Benefit Plan established, maintained or contributed to outside of the United States of America or which covers any employee working or residing outside of the United States.

  • Qualified Benefit Plan has the meaning set forth in Section 3.20(c).

  • Pension Benefit Plan means at any time any employee pension benefit plan (including a Multiple Employer Plan, but not a Multiemployer Plan) which is covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code and either (i) is maintained by any member of the Controlled Group for employees of any member of the Controlled Group; or (ii) has at any time within the preceding five years been maintained by any entity which was at such time a member of the Controlled Group for employees of any entity which was at such time a member of the Controlled Group.

  • Welfare Benefit Plan means each welfare benefit plan maintained or contributed to by the Company, including, but not limited to a plan that provides health (including medical and dental), life, accident or disability benefits or insurance, or similar coverage, in which Executive was participating at the time of the Change in Control.

  • Company Benefit Plan has the meaning specified in Section 4.13(a).

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

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

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

  • Severance means the complete separation and dismemberment of the part from the body.

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

  • Health benefits plan means a benefits plan which pays or

  • Seller Benefit Plans shall have the meaning ascribed thereto in Section 4.11(a) hereof.

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

  • Buyer Benefit Plans has the meaning set forth in Section 6.10(f).

  • Parent Benefit Plans has the meaning set forth in Section 5.07(b).

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