Severance Payment Amount definition

Severance Payment Amount means the sum of all Severance Payments payable to the Terminated Employees identified by the schedule to be provided by the Buyer pursuant to Section 8.15(a) and deducted from the Purchase Price in accordance with Section 3.1(b), including the cost of any benefit under any employee benefit plan maintained by Holdco or its Subsidiaries to which any such Terminated Employee becomes entitled pursuant to the terms of his or her Employment Agreement.
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Severance Payment Amount means, with respect to each Corporate Employee that becomes a Transferred Employee pursuant to Section 9.3(a), the amount listed opposite such Corporate Employee’s name on Schedule 9.3(a) under the column titled “50% Sellers’ Portion, if Hired”.
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Severance Payment Amount shall have the meaning ascribed to such term in Section 4.9 hereof.
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Examples of Severance Payment Amount in a sentence

  • No less than one (1) business day prior to the Closing Date, the Sellers’ Representative shall, or shall cause Holdco to, deliver to the Buyer a statement (the “ Estimated Closing Statement”) setting forth a good faith estimate, as of the opening of business on the Closing Date, of (v) Repaid Indebtedness; (w) Accrued Bonus Amount; (x) Severance Payment Amount; (y) Working Capital (the “ Estimated Working Capital”), and (z) Transaction Expenses.

  • In such event and pursuant to the terms of the Employee Escrow Agreement, an amount equal to a percentage (which percentage shall be as set forth in the Employee Escrow Agreement) of the Severance Payment Amount shall be paid from the Employee Escrow Account, to the Company (the “Escrow Reimbursement Amount”).


More Definitions of Severance Payment Amount

Severance Payment Amount means the product of (x) the highest annual base salary payable to the Executive during any calendar year of his employment with the Company (not including bonus), multiplied by (y) one (1). In addition, the Executive shall be entitled to continued receipt of all life insurance and health and medical benefits provided to the Executive as of the date of this Agreement for a period of twelve (12) months following the date of the Terminating Event, or equivalent value in cash. The Company shall be required to provide irrevocably for such benefits by pre-paid purchase of benefits with sound and reputable insurers, or else shall pay the Executive, in a lump sum, as additional severance pay, an amount in cash equal to the discounted present value of the cost to the Executive of purchasing an equivalent benefit for such period, as determined by actuaries and/or other suitable professional personnel reasonably acceptable to the Executive.
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Severance Payment Amount has the meaning set forth in Section 5.2(a).
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Related to Severance Payment Amount

  • 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 Amount means:

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

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

  • Closing Payment Amount will have the meaning set forth in Section 1.3(a).

  • 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.

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

  • Retention Amount means, in relation to any Retention Date, such sum as shall be the aggregate of:

  • Change in Control Severance Benefits means the benefits payable pursuant to Section 3 of this Agreement.

  • Termination Payment has the meaning set forth in Section 6.03.

  • Termination Payment Date means the earlier of the first Distribution Date following the liquidation or sale of the Receivables as a result of an Insolvency Event and the occurrence of the Scheduled Series 1995-1 Termination Date.

  • CVR Payment Amount has the meaning set forth in Section 2.4(a).

  • Change in Control Payment shall have the meaning stated in Section 6.4 hereof.

  • Principal Payment Amount For any Distribution Date, an amount equal to the related Principal Remittance Amount for such date minus the related Overcollateralization Release Amount, if any, for such date.

  • Change in Control Payments means all change in control, transaction, retention and similar bonuses or payments, paid or payable by the Acquired Companies to any current or former directors, managers, officers, employees, or other Persons as a result of the Closing of the Transactions or the execution of this Agreement, including any deferred compensation, in each instance, plus the employer portion of any employment Taxes due in connection with any such payments, but excluding, for the avoidance of doubt, severance payments relating to a termination of employment following the Closing.

  • Severance Benefits mean the payment of severance compensation as provided in Section 2.3 herein.

  • Change in Control Benefits means the following benefits:

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Change in Control Benefit means the benefit described in Section 2.4.

  • Accrued Amount has the meaning set forth in Section 3.1(b) of this Agreement.

  • Early Termination Amount means, in respect of any Note, its principal amount or such other amount as may be specified in, or determined in accordance with, these Conditions or the relevant Final Terms;

  • Termination Payments has the meaning specified in Section 10(a).

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Payment Amount as defined in Section 3.5.

  • Early Termination Payment is defined in Section 4.3(b) of this Agreement.

  • Incentive Payment means the payment to a STGU, including an AOBC Generation Unit, for RPS class I Renewable Generation Attributes and/or Environmental Attributes produced by these units, calculated pursuant to Section 7.0 below.