Severance Participant definition

Severance Participant means a Participant who the Compensation Committee has designated as an individual eligible for the benefits set forth in Article 6. Exhibit A sets forth the list of Severance Participants as of the Effective Date, which may be amended by the Compensation Committee as described in Section 3.3.
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Severance Participant means an employee of the Company or its affiliates who has been selected by the Committee to participate in the severance portion of the Plan and is so designated in a writing, in the form of the “Acknowledgment Form” attached hereto as Exhibit A and identifying the Severance Period, executed by a duly authorized member of the Committee or the CEO, on behalf of the Company, and by such Participant for the purpose of affirming his agreement to be bound by the terms of the Plan.
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Severance Participant means each Participant who is entitled to severance benefits under Section 3.01 and who is not an Enhanced Severance Participant entitled to severance benefits under Section 3.02.
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Examples of Severance Participant in a sentence

  • For purposes of participation in the Reorganization Retention Plan, Executive shall be considered a Participant with a separate employment agreement with the Company and thus shall not be a Severance Participant under the terms of the Reorganization Retention Plan.

  • In addition to Cash Severance, Participant shall be paid his or her annual bonus determined under the MPP for the year of the Qualifying Termination prorated for the period beginning on the first day of the current bonus year and ending on the date of the Qualifying Termination.

  • Subject to certain conditions as established in the KERP Plan, the Enhanced Severance Participants will be entitled to receive a lump sum cash payment equal to the sum of the Severance Participant's current annual salary on the termination date plus such Enhanced Severance Participant's target annual bonus with respect to the year in which the termination date occurs, multiplied by the change of control severance multiplier applicable to such Enhanced Severance Participant.

  • In addition, the Severance Participant will continue to be covered by all life, health care, medical and dental insurance plans and programs (excluding disability) for a period of months equal to the Severance Participant's applicable severance multiplier multiplied by 12.

  • We understand racism as a dehumanizing ideology that is the single most critical barrier to building effective coalitions for social transformation.

  • The Plan Administrator shall provide each Participant with a notice in writing indicating that such Participant has been selected for participation in the Plan as a Severance Participant and/or CIC Participant, and the specific level (Tier I or Tier II) at which such Participant shall participate, as of the date designated by the Compensation Committee.

  • In addition, for a period of months equal to the Severance Participant’s applicable severance multiplier multiplied by twelve (12), such Severance Participant (or his or her beneficiary) shall continue to be covered by all life, health care, medical and dental insurance plans and programs (excluding disability) of the applicable Employer under which he or she was covered on the Termination Date.

  • Except as provided in Section 5.3 below, the Company’s obligation to make the payments provided for in this Plan and otherwise to perform its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against Severance Participant or others.

  • If the Company Terminates a Severance Participant (a) as part of a Reduction in Force or (b) without Cause, and (c) such Termination is either (i) not connected with a Change in Control or (ii) connected with a Change in Control but not within the Protected Period, then the Company will, except as otherwise provided in Section 8.1 hereunder, pay or provide to the Severance Participant the payments and benefits described in Article 6.

  • Severance Participant hereby acknowledges that Severance Participant has received and will continue to receive good and valuable consideration for the restrictions set forth in this Article Six in the form of the compensation and benefits provided for herein as well as other consideration.


More Definitions of Severance Participant

Severance Participant means each of the Participants listed on Schedule C.
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Severance Participant means the Class B and C officers of the Company. 2.32 “Specified Employee” means any Participant who is a “key employee” (as defined in Code Section 416(i) without regard to paragraph (5) thereof), as determined by the Company in accordance with its uniform policy with respect to all arrangements subject to Code Section 409A, based upon the 12 month period ending on each December 31st (such 12 month period is referred to below as the “identification period”). All Participants who are determined to be key employees under Code Section 416(i) (without regard to paragraph (5) thereof) during the identification period shall be treated as Specified Employees for purposes of the Plan during the 12 month period that begins on the first day of the fourth month following the close of such identification period. 2.33 “Subsidiary” means any corporation, partnership, venture or other entity in which the Company holds, directly or indirectly, a 50% or greater ownership interest. The Compensation Committee may, at its sole discretion, designate, on such terms and conditions as the Compensation Committee shall determine, any other corporation, partnership, limited liability company, venture or other entity a Subsidiary for purposes of this Plan. 2.34 “Termination” or “Terminates” means a “separation from service” from the Company or any member of its Controlled Group within the meaning of Treasury Regulation Section 1.409A-1(h).
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Severance Participant means the Class A, B and C officers of the Company.
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Related to Severance Participant

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • FTR Participant means any Market Participant that provides or is required to provide Collateral in order to participate in PJM’s FTR auctions.

  • 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.

  • Covered Participant means a Participant who is a “covered employee” as defined in Section 162(m)(3) of the Code, and the regulations promulgated thereunder, and any individual the Committee determines should be treated as such a covered employee.

  • Active Participant means, with respect to any day or date, a Participant who is in Service on such day or date; provided, that a Participant shall cease to be an Active Participant (i) immediately upon a determination by the Committee that the Participant has ceased to be an Employee or Independent Contractor, or (ii) at the end of the Plan Year that the Committee determines the Participant no longer meets the eligibility requirements of the Plan.

  • Plan Participant means a person who is eligible to receive, and is receiving, a pension benefit from the Plan.

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.

  • Eligible Executive means any employee of the Company or an Affiliate of the Company who (i) is designated by the Committee as an “Eligible Executive” who is eligible to participate in the Plan; (ii) has executed and returned a Participation Agreement to the Company; (iii) is not covered under any other severance plan, policy, program or arrangement sponsored or maintained by the Company or any of its Affiliates; and (iv) is not a party to an employment or severance agreement with the Company or any of its Affiliates pursuant to which such employee is eligible for severance payments or benefits. The Committee shall have the sole discretion to determine whether an employee is an Eligible Executive. Eligible Executives shall be limited to a select group of management or highly compensated employees within the meaning of Sections 201, 301 and 401 of ERISA.

  • Other Participant means a cooperative project participant other than the United States.

  • Disabled Participant with respect to a loan if it has no right to exercise any voting or other control rights with respect to such loan (other than the right to approve amendments to the material economic terms of such loan).

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

  • Eligible Employee means full-time and part-time employees in the bargaining unit who have completed four hundred and fifty (450) hours of service and who are not prohibited from contributing to the Plan by legislation or the Plan rules because of their age or because they are in receipt of a pension from the Plan.

  • Participant has the meaning specified in Section 10.06(d).

  • L/C Participant shall have the meaning provided in Section 3.3(a).

  • Retired Participant means a person who has been a Participant, but who has become entitled to retirement benefits under the Plan.

  • Terminated Participant means a person who has been a Participant, but whose employment has been terminated other than by death, Total and Permanent Disability or retirement.

  • U.S. Participant means a Participant who is a citizen of the United States or a resident of the United States, as defined in section 7701(a)(30)(A) and section 7701(b)(1) of the Code and any other Participant who is subject to tax under the Code with respect to compensatory awards granted pursuant to the Plan;

  • Major Participant means each Equity Member and each member of the Proposer’s organization: (a) with primary responsibility for design; (b) with primary responsibility for construction; or (c) with a proposed subcontract with a value greater than or equal to 5% of the contract price or $20 million, whichever is greater.

  • Former Participant means a person who has been a Participant, but who has ceased to be a Participant for any reason.

  • Eligible Participant means an employee, officer, consultant or director of the Company or any Affiliate.

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • Change in Control Benefit means the benefit set forth in Section 4.1 below.

  • CDS Participant means a participant in CDS that holds security entitlements in Units on behalf of beneficial owners of those Units;

  • Employee Participant means an Employee who holds an outstanding Award under the terms of the Plan.

  • 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 Compensation means the compensation set forth in (i), (ii), and (iv) above.