Severance Pay Benefits definition

Severance Pay Benefits means the aggregate benefits payable to a Participant upon his or her Separation from Service, as determined pursuant to the provisions of Section V or VI below.
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Severance Pay Benefits means the benefits payable to the Participant pursuant to subsection 4.2 of the Plan.
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Examples of Severance Pay Benefits in a sentence

  • The present value of the future Retirement Severance Pay Benefits and Early Retirement Program Plan benefits will be reduced by the Social Security and Medicare taxes (FICA) that would have been payable if the Severance Benefits and Retirement Bridge had been paid directly to the employee.

  • The ISTA Financial Services Corporation has been selected to determine the present value of the unfunded Retirement Severance Pay Benefits and the Early Retirement Program benefits described in the Prior Agreement.

  • The purpose of this Agreement is to provide Executive with "Special Severance Pay Benefits" in the event of, or following, a Change In Control.

  • The Educational Services Corporation has been selected to determine the present value of the unfunded Retirement Severance Pay Benefits and the Social Security and Medicare Bridge Benefits described in the Prior Agreement.

  • The purpose of this Agreement is to provide Executive with Special Severance Pay Benefits in the event of certain terminations of Executive's employment in connection with a Change in Control, as such terms are defined in this Agreement.

  • In addition, in the event that a Participant has attained age 50 years prior to his or her Employment Termination Date, the Participant shall be eligible to receive an additional Severance Pay Benefit of four (4) weeks of Base Pay, subject to the other applicable conditions of this Section 4, and subject to the applicable maximum Severance Pay Benefits in subparagraph (a) or (b) above, whichever is applicable to the Participant.

  • The Employee shall not be entitled to any Severance Pay Benefits if she voluntarily resigns her employment.

  • The “applicable subsidization period” shall be eighteen (18) months for Executive Vice Presidents, and for all other Participants shall be a number of months equal to the number of whole months (not to exceed nine) of their respective Severance Pay Benefits.

  • In accordance with the Employment Insurance Act and Regulations, payments in respect of Guaranteed Annual Remuneration, or in respect of deferred remuneration or Severance Pay Benefits are not reduced or increased by payments received under this Plan.

  • The purpose of this Agreement is to provide Executive with "Special Severance Pay Benefits" in the event of, or following, a Change in Control.