Severance Fee definition

Severance Fee has the meaning set forth in the Third Amendment to Employment Agreement.
View Source

Examples of Severance Fee in a sentence

  • If Company terminates this Agreement for Cause or if Employee terminates this Agreement other than for Good Reason or as set forth in Section 6.2 below, Employee shall have no right to the Severance Fee or salary continuation of any kind.

  • If the Company elects not to renew the Term of this Agreement, Convers shall be entitled to receive the Base Management Fee then payable under Article 4.1 for a further 18 (eighteen) months (the "Severance Period") following the End Date of this Agreement such fee to be paid in accordance with Article 4.1 (the "Severance Fee").

  • If Company fails to pay when due any amount owed to Employee hereunder, including Base Salary, Severance Fee and reasonable business expenses incurred pursuant to Section 4.3, Martek shall pay the amount owed within thirty (30) days following receipt of notice from Employee that Company failed to pay such amount, subject in all cases to the right of Company and/or Martek to dispute in good faith whether the amount in question is owed to Employee.

  • Client shall have the right to request in writing that any Development Team Member cease performing services to Client at any time, provided that if Client makes such request more than ninety (90) days after such Development Team Member’s commencement of such services, Client shall pay to Service Provider the Severance Fee set forth in the Order Form for such Development Team Member.

  • If such Default is cured after 30 days and Range pays all fees due, including the Severance Fee, ATS agrees to provide Range the right to continue ASP Services at a monthly price of $600 per user per month for up to six Processing Cycles after the expiration of the three Processing Cycle notice period and to license the ATS Software at its then current rates.

  • Notwithstanding the above, in the case that a Change of Control has taken effect, and this Agreement is terminated by the successor organization, such Severance Fee shall be equal to twelve (12) months base salary.

  • For purposes only of determining the Severance Fee through December 14, 2005, salary is defined as a $15,000 per month payment.

  • The “Lump Sum Severance Fee” shall be an amount equal to the lesser of (i) Eight Million One Hundred Four Thousand Six Hundred Thirty Five and 18/100 Dollars ($8,104,635.18) and (ii) the sum of all remaining monthly Lease Severance Fee payments for the remainder of the Term during which the Lease Severance Fee is payable, discounted to present value at a rate equal to the 5-Year U.S. Treasury Rate plus Two Percent (2%) per annum in effect upon the date of determination.

  • In the event this Agreement is terminated pursuant to this Section 4.6, Range will be obligated to pay ATS an early termination fee of $250,000 (subject to adjustment by Section 4.10), the Severance Fee and all other fees due up to the effective date of termination.

  • Range shall pay all fees due, including the Severance Fee, within 15 days after the effective date of termination.

Related to Severance Fee

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

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

  • 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.