Severance Months definition

Severance Months means: (i) in the case of an Involuntary Termination, (A) 6 months for all Eligible Officers other than the CEO and (ii) 12 months for the CEO; and (ii) in the case of a Change of Control Termination, (A) 12 months for all Eligible Officers other than the CEO and (ii) 18 months for the CEO.
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Severance Months means: (a) in the case of a Non-Change in Control Termination (i) 24 months for the CEO (ii) 18 months for all Section 16 Officers (other than the CEO) and (iii) 12 months for all other Eligible Officers, and (b) in the case of a Change in Control Termination (i) 36 months for the CEO (ii) 24 months for all Section 16 Officers (other than the CEO) and (iii) 15 months for all other Eligible Officers.
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Severance Months means 13 months plus one additional month on each anniversary of employment to a maximum of 24 months.
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Examples of Severance Months in a sentence

  • During the Enhanced Severance Period, the terms of the Company's Executive Severance and Change of Control Policy (the "Policy") applicable to Mr. Chopra would be modified such that he would be eligible for 12 Severance Months (as defined in the Policy) in the case of an Involuntary Termination (as defined in the Policy) and 18 Severance Months in the case of a Change in Control Termination (as defined in the Policy).


More Definitions of Severance Months

Severance Months means (a) three (3), in the event the period of time between the Effective Date and the Termination Date is less than one year; (b) six (6), in the event the period of time between the Effective Date and the Termination Date is one year or more, but less than two years; (c) nine (9), in the event the period of time between the Effective Date and the Termination Date is two years or more, but less than three years; and (d) twelve (12), in the event the period of time between the Effective Date and the Termination Date is more than three years.
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Related to Severance Months

  • Date of Termination means the date of receipt of the Notice of Termination or any later date specified therein, as the case may be; provided, however, that (i) if the Executive's employment is terminated by the Company other than for Cause or Disability, the Date of Termination shall be the date on which the Company notifies the Executive of such termination and (ii) if the Executive's employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Executive or the Disability Effective Date, as the case may be.

  • CIC means the Construction Industry Council.

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).