Severance Program definition

Severance Program means a program providing certain severance benefits that are paid while the program’s participants are on a severance leave of absence that is determined by the Plan Administrator to qualify for recognition as Service under Section B.3 and Credited Service under Section B.4 of Article B.
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Severance Program means that certain severance program by and between the Debtors and certain current executive and senior management employees, in effect as of the date hereof, including any letters, contracts, agreements, or obligations with respect thereto.
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Severance Program means the program adopted by the Government and GWCL generally describing the terms and conditions for separation of the employees of GWCL, including severance payments thereunder;
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Examples of Severance Program in a sentence

  • Notwithstanding the foregoing, one hundred percent (100%) of the Stock Option Award will vest if you Terminate employment after a Change in Control and are eligible for a severance pay benefit under the Chevron Corporation Change in Control Surplus Employee Severance Program for LTIP Eligible Participants in Salary Grades 43 and Below, as may be amended.

  • This Agreement supersedes and replaces applicable provisions of General Policy Memorandum (GPM) No. 31 and GPM 31-1 concerning Executive Severance Program for Corporate Officers.

  • You agree to maintain the utmost confidentiality of the existence and the terms of this Agreement and all documentation or records relating to this Agreement and the Executive Retention Bonus and Severance Program and not to disclose these matters to any person or entity without the prior written consent of the Company unless required otherwise by law or court order.

  • The Parties agree that the primary purpose of a Severance Program is to recognize the contribution of Employees, to allow Employees to leave the system with dignity, to minimize disruption, and to ensure the quality and continuity of services.

  • Participant has been selected to participate in the STMG Key Employee Severance Program (“KESP”) by the Compensation Committee of the STMG Board of Directors, by the full Board, or by the Chief Executive Officer of STMG.

  • The purpose of this Schedule is to provide benefits for certain Participants of the Plan who retire under the 1994 Wolverine Special Severance Program (the “1994 Program”).

  • Notwithstanding the foregoing, if you Terminate employment after a Change in Control and are eligible for a severance pay benefit under the Chevron Corporation Change in Control Surplus Employee Severance Program for LTIP Eligible Participants in Salary Grades 43 and Below, as may be amended, then one hundred percent (100%) of the Restricted Stock Unit Award will vest on [DATE] following the fifth (5th) anniversary of the Grant Date.

  • The benefits under the Severance Program shall inure to the benefit of and be enforceable by your legal representatives.

  • A member electing to be laid off will be covered under the provisions of Policy 2.40 Staff Severance Program and will be laid off at the conclusion of the working notice period.

  • In no event shall you be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to you under the provisions of this Agreement, and except as provided in the Severance Program with respect to certain medical, prescription and dental benefits, such amounts shall not be reduced whether or not you obtain other employment.


More Definitions of Severance Program

Severance Program means the Special Temporary Severance Program for Certain Regular, Full-Time, Non-Union, Salaried Employees of Exeter Drilling Company and Subsidiaries, as in effect on the date of this Agreement.
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Severance Program means the program(s) listed on Exhibit A, as amended and in effect from time to time, that provide the specific benefit entitlement(s) available under this Plan to a Participant at the time of the Qualifying Termination. The terms of each such Severance Program shall be incorporated herein and made a part hereof. No Participant shall be entitled to Severance Benefits under more than one Severance Program and the Administrator shall have sole discretion to determine which Severance Program shall apply to a Participant.
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Severance Program means the Post-Petition Modified Severance Program approved by the Court in the Chapter 11 Cases by its Order Approving Debtors’ Key Employee Retention Plan and Post-Petition Modified Severance Program and Authorizing Payments to Be Made Pursuant to the Terms Thereunder Without Further Order of the Court entered on May 19, 2004.
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Severance Program means the employee severance program implemented by the Debtors and approved by the Bankruptcy Court on August 19, 2008.
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Severance Program means the program(s) listed on Exhibit A, as amended and in effect from time to time, that provide the specific benefit entitlement(s) available under this
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Severance Program has the meaning specified in Section 8.9(e)(v).
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Related to Severance Program

  • Severance Plan means any severance plan maintained by the Company that is applicable to the Participant.

  • Employee Assistance Program means an established program capable of providing expert assessment of employee personal concerns; confidential and timely identification services with regard to employee drug or alcohol abuse; referrals of employees for appropriate diagnosis, treatment and assistance; and follow-up services for employees who participate in the program or require monitoring after returning to work. If, in addition to the above activities, an employee assistance program provides diagnostic and treatment services, these services shall in all cases be provided by the program.

  • Executive Severance Plan means the Company’s Senior Executive Employee Severance Pay Plan, as in effect from time to time.

  • Health benefits plan means a benefits plan which pays or

  • Compensation and Benefits Programs means all compensation and benefit plans, policies, and programs of the Debtors, and all amendments and modifications thereto, applicable to the Debtors’ employees, former employees, retirees, and non-employee directors and the employees, former employees and retirees of their subsidiaries, including all savings plans, retirement plans, health care plans, disability plans, and incentive plans, deferred compensation plans, and life, accidental death, and dismemberment insurance plans.

  • Separation Plan means the Company’s Separation Plan Amended and Restated Effective August 13, 2006, as may be amended from time to time or any successor plan, program, arrangement or agreement thereto.

  • Severance Term means the twelve (12) month period following Employee’s termination by the Company without Cause (other than by reason of death or Disability) or by Employee for Good Reason.

  • Health Benefits means health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits.

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

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

  • 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 Period means the period of time commencing on the date of the first occurrence of a Change in Control and continuing until the earlier of (i) the second anniversary of the occurrence of the Change in Control and (ii) the Executive’s death.

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

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

  • Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.

  • Change in Control Benefits means the following benefits:

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • 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).

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

  • Dependent care assistance program or "DCAP" means a benefit plan whereby school employees may pay for certain employment related dependent care with pretax dollars as provided in the salary reduction plan under chapter 41.05 RCW pursuant to 26 U.S.C. Sec. 129 or other sections of the Internal Revenue Code.

  • Company Incentive Plan shall have the meaning assigned to it in Section 1.7 hereof.

  • Incentive Compensation Plan means any plan, agreement or other arrangement that provides for the grant or issuance of equity or equity-based awards and that is now in effect or is hereafter adopted by the Company or the Manager for the benefit of any of their respective employees or other service providers (including directors, advisers and consultants), or the employees or other services providers (including directors, advisers and consultants) of any of their respective Affiliates or Subsidiaries.

  • Incentive Compensation Plans means annual incentive compensation plans and long-term incentive compensation plans of the Company, which long-term incentive compensation plans may include plans offering stock options, restricted stock and other long-term incentive compensation.

  • Nonqualifying Termination means a termination of the Executive’s employment (1) by the Company for Cause, (2) by the Executive for any reason other than a Good Reason, (3) as a result of the Executive’s death or (4) by the Company due to the Executive’s absence from his duties with the Company on a full-time basis for at least 180 consecutive days as a result of the Executive’s incapacity due to physical or mental illness.

  • Medical Assistance Program means the medical assistance provided pursuant to Chapter 319v of the Connecticut General Statutes (CGS) and authorized by Title XIX of the Social Security Act. The program is also referred to as Medicaid.

  • Medical Benefits Schedule means the Medicare Schedule of Benefits produced by the Department of Health to which all fees and benefits relate for inpatient hospital services.