Severance Classification definition

Severance Classification means, with respect to any Participant, the Participant’s designation as a Tier 1 Participant or a Tier 2 Participant.
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Severance Classification means, with respect to any Participant, his or her designation as a “Tier 1,” “Tier 2” or “Tier 3” participant in the Plan.
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Severance Classification means, with respect to any Participant, the Participant’s Severance Classification as approved by the Administrator and set forth in the individual’s Participation Notice.
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Examples of Severance Classification in a sentence

  • The Administrator shall, pursuant to a Participation Notice, notify each Participant that such Participant has been selected to participate in the Plan and of such Participant’s Severance Classification.

  • The Company shall pay to the Participant an amount in cash equal to a number of months of the Participant’s Base Salary equal to the number of months of such Participant’s Severance Period (as determined in accordance with Exhibit A attached hereto based on the Participant’s Severance Classification) (the “Cash Salary Severance”).


More Definitions of Severance Classification

Severance Classification means, with respect to any Participant, his or her designation as the CEO or as a “Tier 1” or “Tier 2” Participant in the Plan.
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Related to Severance Classification

  • Potential Change in Control means the occurrence of any of the following events:

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

  • Medical Benefits Schedule means the Medicare Schedule of Benefits produced by the Department of Health to which all fees and benefits relate for inpatient hospital services.

  • Nonqualifying Termination means a termination of the Executive’s employment (1) by the Company for Cause, (2) by the Executive for any reason other than a Good Reason, (3) as a result of the Executive’s death or (4) by the Company due to the Executive’s absence from his duties with the Company on a full-time basis for at least 180 consecutive days as a result of the Executive’s incapacity due to physical or mental illness.

  • Section 409A Deferred Compensation means compensation provided pursuant to an Award that constitutes nonqualified deferred compensation within the meaning of Section 409A.

  • Excess Compensation means Compensation in excess of the following Integration Level: (Choose (1) or (2))

  • Covered Compensation means any Incentive-Based Compensation granted, vested or paid to a person who served as an Executive Officer at any time during the performance period for the Incentive-Based Compensation and that was Received (i) on or after October 2, 2023 (the effective date of the Nasdaq listing standards), (ii) after the person became an Executive Officer, and (iii) at a time that the Company had a class of securities listed on a national securities exchange or a national securities association such as Nasdaq.

  • Final compensation of a member means: