Severance Liabilities definition

Severance Liabilities means all Liabilities for severance compensation or benefits incurred or payable by the Company or any of its Subsidiaries to any Company Employee or Company Independent Contractor in connection with his or her termination of employment or service.

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Severance Liabilities has the meaning set forth in Section 10.10(d).

Severance Liabilities as defined in Section 7.5(a)(iv)(y).

Examples of Severance Liabilities in a sentence

Seller shall use commercially reasonable efforts to transfer employees through use of Retention Bonuses and/or Assumed Severance Liabilities, rather than Cash Severance Payments.
To the extent that any such Severance Liabilities are incurred by any member of the Air Products Group, Versum shall indemnify such Air Products Group member for such Liability.
The Sellers shall assume, be responsible for, and shall perform and discharge, or cause to be performed and discharged, and shall indemnify and hold harmless the Purchaser Group and its Affiliates from and against, all Severance Liabilities that arise out of the termination of employment by any member of the Seller Group or the Acquired Company of any employees of the Business prior to the applicable Closing.
The Purchaser and the Sellers shall each assume, be responsible for, and shall perform and discharge, or cause to be performed and discharged, and shall indemnify and hold harmless each other and their respective Affiliates from and against, fifty percent (50%) of all Severance Liabilities, if any, that arise out of the termination of employment of an Employee of the Business who received an offer compliant with Section 10.10(b) that does not accept such offer.
For the avoidance of doubt, the Purchaser shall not be responsible for any Severance Liabilities or Termination Liabilities arising from the termination of any Designated Employees that were reassigned to other positions at a member of the Seller Group at the Initial Closing pursuant to Section 10.8(b), other than those Designated Employees that were reassigned on a temporary basis to account for notice or other similar requirements under applicable Law.

More Definitions of Severance Liabilities

Severance Liabilities means any pension, retirement, deferred compensation, profit sharing, incentive compensation, bonus, stock purchase, stock option, welfare, hospitalization or insurance plan or arrangement or any vacation pay, severance costs, COBRA benefit, obligations or responsibilities, or any other employee benefit arrangement relating to Seller’s employees listed on Schedule 1.3 hereto and all former employees of Seller.

Severance Liabilities means any Liabilities that may result in respect of claims for statutory, contractual or common law severance or other separation benefits or other legally mandated payment obligations (including claims for wrongful dismissal, notice of termination of employment or pay in lieu of notice and including salary payments, costs of labor court proceedings and termination costs), together with the employer-paid portion of any employment or payroll taxes related thereto.

Severance Liabilities means any written obligation to pay any severance, termination, bonus, retention, change in control, or any similar payment to any employee or independent contractor of the Company in connection with the termination of employment of any such employee or independent contractor as a result of the consummation of the Transactions, other than any

Severance Liabilities means the amount of the severance pay, other than WARN Obligations as set forth in Section 11.13 with respect to Seller's facility in Kingman, Arizona and Watkinsville, Georgia, that is actually paid as a result of effects bargaining or in accordance with Seller's severance policies in effect on the date hereof to, or on behalf of, Seller's employees in the Business who meet all of the following conditions:

Severance Liabilities means any severance or other termination costs, expenses or Liabilities (including without limitation compensation during any required notice period or otherwise and any bonuses, provision of any benefits, or any other retention payments) associated with the termination of any of the CPAM Employees.

Severance Liabilities all Liabilities in respect of severance, redundancy and similar pay, salary continuation, and similar obligations relating to the termination or alleged termination of any such individual's employment, whether or not arising under a Severance Plan, but excluding Liabilities under individual employment agreements.

Severance Liabilities has the meaning set forth in Section 6.1.5. ---------------------