Severance Commencement Date definition

Severance Commencement Date means the date on or following the Date of Termination and on which the Release becomes effective and irrevocable in accordance with its terms; provided, however, that if the Date of Termination occurs within sixty (60) days prior to the end of a calendar year, the Severance Commencement Date will be the later of (i) the date on which the Release becomes effective and irrevocable in accordance with its terms, or (ii) the first day of the calendar year immediately following the Date of Termination.
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Severance Commencement Date means (x) if any stock of Employer or its affiliates is publicly traded on an established securities market or otherwise and the Board (or its delegate) determines that as of the date of termination of Executive’s employment that the Executive is a “key employee” (within the meaning of Section 416(i) of the Internal Revenue Code of 1986, as amended (the “Code”), as interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretive guidance issued thereunder) and that Section 409A of the Code applies with respect to payments to Executive pursuant to Section 5(c)(1)(ii) and (iii), the six-month anniversary of the date of the Executive’s “separation from service” (within the meaning of section 409A of the Code); or (y) if the Board (or its delegate) determines that Executive is not such a “key employee” as of date of Executive’s termination of employment (or that Section 409A of the Internal Revenue Code does not apply with respect to payments to the Executive pursuant to Section 5(c)(1)(ii) and (iii)), the date of Executive’s termination of employment. The payments described in this Section 5(c)(1)(i) shall be made within thirty (30) days of the date of Executive’s termination of employment.
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Severance Commencement Date means (x) if any stock of Employer or its affiliates is publicly traded on an established securities market or otherwise and the Parent Board (or its delegate) determines in its discretion that as of the Date of Termination the Executive is a "key employee" (within the meaning of Section 416(i) of the Internal Revenue Code of 1986, as amended (the "Code")), as interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretive guidance issued thereunder) and that Section 409A of the Code applies with respect to a payment to the Executive pursuant to Section 5(c)(1)(ii), the six-month anniversary of the Date of Termination; or (y) if the Parent Board (or its delegate) determines in its discretion that the Executive is not such a "key employee" as of the Date of Termination (or that Section 409A of the Internal Revenue Code does not apply with respect to a payment to the Executive pursuant to Section 5(c)(1)(ii)), the Date of Termination. The payments described in this Section 5(c)(1), except for those set forth in Section 5(c)(1)(ii) and (iv), shall be made within thirty (30) days of the Date of Termination.
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Examples of Severance Commencement Date in a sentence

  • The applicable Severance Commencement Date shall be the first regularly scheduled Company payroll date that is at least 45 days after the Executive’s Termination Date.

  • Executive shall be paid the Pro-Rata Bonus in a single cash payment on the Cash Severance Commencement Date.

  • Such payment shall be made in a single cash payment on the Cash Severance Commencement Date.

  • If the Termination Date occurs during the second, third or fourth quarter of a year, Executive shall be paid the Pro-Rata Bonus for that year, made in a single cash payment on the Cash Severance Commencement Date.

  • Except as otherwise provided below, the Severance Payment shall be payable in equal periodic installments in accordance with the Company’s payroll practices and subject to withholding taxes on each regular payroll date of the Company commencing on the applicable Severance Commencement Date and continuing through the six month anniversary thereof (the “Severance Period”).

  • Such amount shall be payable in a single cash payment on the Cash Severance Commencement Date.

  • All payments under clauses (i) - (v) of this Section 6.c. are conditioned on (A) Executive, on or before the Cash Severance Commencement Date, having executed and delivered a general waiver and release agreement in the form of Exhibit B, attached, or in a form and with substance satisfactory to the Company, that is no longer subject to revocation, and (B) Executive’s compliance with all applicable post-employment covenants with the Company, including those set forth in Section 8 of this Agreement.

  • Such payment shall be made in a single cash payment on the Cash Severance Commencement Date, provided that on or before the Cash Severance Commencement Date, Executive has executed, and delivered a general waiver and release agreement in the form of Exhibit B, attached, or in a form and with substance satisfactory to the Company, that is no longer subject to revocation.

  • All payments under clauses (i) - (iv) of this Section 7.b. are conditioned on (A) Executive, on or before the Cash Severance Commencement Date, having executed and delivered a general waiver and release agreement in the form of Exhibit B, attached, or in a form and with substance satisfactory to the Company, that is no longer subject to revocation, and (B) Executive’s compliance with all applicable post-employment covenants with the Company, including those set forth in Section 8 of this Agreement.

  • Executive shall be paid an amount equal to 12 months of COBRA premiums based on the terms of Company’s group health plan and Executive’s coverage under such plan as of the Termination Date (regardless of any COBRA election actually made by Executive or the actual COBRA coverage period under the Company’s group health plan), payable in a single cash payment on the Cash Severance Commencement Date.


More Definitions of Severance Commencement Date

Severance Commencement Date means the six-month anniversary of the Date of Termination.
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Severance Commencement Date means the first payroll period commencing on or after the date the Release becomes effective and after the expiration of the seven (7) day revocation period (as described in Section 5(g) hereof). Notwithstanding anything to the contrary in this Agreement, payments of amounts under Section 5(b)(ii) and (iii), the Pro-Rata Bonus under Section 5(c) if Executive’s employment is terminated by reason of Disability, and amounts under Section 5(d)(ii) and (iii) (as applicable, the “Severance Pay”), and continued provision of the Severance Benefits, shall be conditioned on Executive having signed and returned a Release and the seven (7) day revocation period (as described in Section 5(g) hereof) for the signed Release having expired, in all instances, within sixty (60) days of Executive’s termination date (the “Release Period”). If a signed Release is not returned, Executive revokes the Release or the seven (7) day revocation period has not expired within the Release Period, Executive shall forfeit all Severance Pay and the right to any continued Severance Benefits (as of the date of revocation or the Severance Commencement Date, whichever is earlier). All taxes and other deductions required by law, and any additional undisputed sums owing the Company shall be deducted from any Severance Pay and/or Severance Benefits. Any benefits that accrue under this Section 5, if any, are net of any such amount other than taxes and other deductions required by law. Notwithstanding the foregoing, if the Release Period begins in one calendar year (the “earlier year”) and ends in the subsequent calendar year, then in no event shall any payment under this Section 5 that is contingent upon the return and effectiveness of the Release be made in the earlier year and, if such payment is delayed under this sentence to the subsequent year (and is otherwise required to be made under this Agreement), such payment shall be made as soon as administratively practicable in the subsequent year and the remaining payments shall continue until the expiration of the Severance Pay Period, if applicable, subject to the provisions of this Agreement.
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Severance Commencement Date means (i) if the Board (or its delegate) determines in its discretion that the Employee is a Key Employee as of the date of termination of employment and that Section 409A of the Code applies with respect to a payment to the Employee hereunder pursuant to 0, the six-month anniversary of the date of termination of employment; or (ii) if the Board (or its delegate) determines in its discretion that the Employee is not a Key Employee as of the date of termination of employment (or that Section 409A of the Internal Revenue Code does not apply with respect to a payment to the Executive pursuant to Section 3(a)), the date of termination of employment.
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Severance Commencement Date has the meaning specified in Section 5.6.
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Related to Severance Commencement Date

  • Employment Commencement Date means the date on which the Employee first performs an Hour of Service.

  • Benefit Commencement Date means, for any Participant or beneficiary, the date as of which the first benefit payment, including a single sum, from the Participant’s Account is due, other than pursuant to a withdrawal under Article VIII.

  • Vesting Commencement Date means the Grant Date or such other date selected by the Committee as the date from which an Award begins to vest.

  • Service Commencement Date means the date the Transmission Provider begins to provide service pursuant to the terms of an executed Service Agreement, or the date the Transmission Provider begins to provide service in accordance with Tariff, Part II, section 15.3 or Tariff, Part III, section 29.1.

  • Lease Commencement Date means the Closing Date. The “Lease Expiration Date” shall mean the later of (i) the date of the final payment in full of the French Advances and (ii) the Vehicle Lease Expiration Date for the last Lease Vehicle leased by the Lessee hereunder. The “Term” of this Agreement shall mean the period commencing on the Lease Commencement Date and ending on the Lease Expiration Date.

  • Policy Commencement Date means the date of commencement of the Policy as specified in the Schedule.

  • the commencement date means the date on which the Contract shall take effect, as notified by the Authority to the Contractor in a letter awarding the Contract.

  • Commencement Date means the date of this Agreement;

  • Reemployment Commencement Date means the first day following a One-Year Period of Severance on which an Employee is entitled to be credited with an Hour of Service described in Paragraph (a)(1) of the definition of “Hour of Service” in this Article.

  • Payment Commencement Date means the date payments of amounts deferred begin pursuant to Article III, Section 6.

  • Rent Commencement Date means [Insert date or description] or any later date calculated in accordance with paragraph 3.3 of Part 5 of the Schedule;

  • Severance Term means the twenty-four (24) month period following Executive’s termination by the Company without Cause (other than by reason of death or Disability) or by Executive for Good Reason.

  • Pay Out Commencement Date means the date on which a Trust Pay Out Event is deemed to occur pursuant to Section 9.01 of the Agreement or a Series 2001-D Pay Out Event is deemed to occur pursuant to Section 7 hereof.

  • Severance Date means the date on which an Executive incurs a Severance, which shall be the date of termination as determined under Section 5.2.

  • Date of Commencement means the date designated in the Notice to Proceed for Contractor to commence the Work.

  • Services Commencement Date means the date delivery of the Services shall commence as specified in the Key Provisions. If no date is specified in the Key Provisions this date shall be the Commencement Date;

  • Annuity Commencement Date is the first day of the month an annuity begins under this contract. This date may not be later than the date a Participant's periodic benefits are required to commence under the Code.

  • Start Date for Term Calculation Purposes Only: Regardless of actual award/effective date of Contract, for Agreement “term” calculation purposes only, the Agreement “start date” is the last day of the month that Award Notifications are anticipated as published in the Solicitation. Example: If the anticipated award date published in the Solicitation is August 27, 2020 but extended negotiations delay award until September 24, 2020 the end date of the resulting initial “two-year” term Agreement, (which is subject to an extension(s)) will still be August 31, 2022 in this example

  • Offering Commencement Date means the first day of each Offering Period.

  • Billing Commencement Date means the earlier of:

  • Accumulation Commencement Date means January 1, 2021, or such later date as the Calculation Agent on behalf of the Issuer determines in accordance with Section 2.11 hereof.

  • Loan Commencement Date means, with respect to each Growth Capital Loan: (a) the first day of the first full calendar month following the Borrowing Date of such Loan if such Borrowing Date is not the first day of a month; or (b) the same day as the Borrowing Date if the Borrowing Date is the first day of a month.

  • Distribution Commencement Date means the Issue Date or such other date as may be specified as the Distribution Commencement Date on the face of such Perpetual Security;

  • Lease Termination Date means the last day of the Lease Term.

  • Offer Commencement Date means the date on which Purchaser commences the Offer, within the meaning of Rule 14d-2 under the Exchange Act.

  • commencement day means the day on which the State Administrative Tribunal (Conferral of Jurisdiction) Amendment and Repeal Act 2004 Part 2 Division 29 comes into operation;