Special Severance Bonus definition

Special Severance Bonus means: an amount equal to the aggregate bonus under the Executive Bonus Plan for the year in which the Executive incurs a Termination of employment to which the Executive would otherwise have been entitled had his employment not terminated.
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Special Severance Bonus means: an amount equal to the aggregate annual bonus under the Executive Bonus Plan for the year in which the Executive incurs a Termination of employment to which the Executive would otherwise have been entitled had her employment not been terminated, provided, however, for any bonus (or portion thereof) under the Executive Bonus Plan based on the individual attainment of goals and objectives, “Special Severance Bonus” shall mean, subject to the achievement of any metric or threshold as a precondition for eligibility to receive such bonus, an amount equal to the annual target bonus for the year in which the Executive incurs a Termination of employment, regardless of whether the Executive would otherwise have achieved such bonus had her employment not been terminated.
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Special Severance Bonus means: an amount equal to the aggregate annual bonus under the Executive Bonus Plan for the year in which the Executive incurs a Termination of employment to which the Executive would otherwise have been entitled had his employment not been terminated, provided, however, for any bonus (or portion thereof) under the Executive Bonus Plan based on the individual attainment of goals and objectives, “Special Severance Bonus” shall mean, subject to the achievement of any EBITDA threshold as a precondition for eligibility to receive such bonus, an amount equal to the annual target bonus for the year in which the Executive incurs a Termination of employment, regardless of whether the Executive would otherwise have achieved such bonus had his employment not been terminated.
Sample 1

Examples of Special Severance Bonus in a sentence

  • The Special Severance Bonus shall be paid to the Executive in a single lump sum cash payment on the date that bonuses are paid under the Executive Bonus Plan, but in no event later than March 15th of the calendar year following the calendar year in which the Executive’s employment terminates.

  • Subject to the provisions of this Agreement and the Executive’s compliance with Section 4 of this Agreement, in the event that the Executive incurs a Termination of employment pursuant to this Section 2.2, the Employer (or any successor thereto) shall pay to the Executive a single lump sum cash payment equal to the Special Severance Payment and the Special Severance Bonus.

  • Subject to the Release Requirement being met and the Executive’s compliance with the provisions of Section 3 of this Agreement, in the event that the Executive incurs a Termination of employment pursuant to this Section 2.2, the Employer (or any successor thereto) shall pay to the Executive a single lump sum cash payment equal to the Special Severance Payment and the Special Severance Bonus.

  • In addition, if your employment is terminated by the Company without cause or misconduct, as such terms are defined in your employment agreement or the Company's Employment Handbook ("INVOLUNTARY TERMINATION"), and you continue to comply with all post-employment obligations to the Company and its affiliates until the first anniversary of the date of Involuntary Termination, then on such first anniversary the Company will pay you a Special Severance Bonus.

  • The amount determined as set forth under the heading "Special Severance Bonus; Stay Incentive Bonus - Stay Incentive Bonus" below.

  • The Company shall pay the ---------------------------------------------- Special Severance Bonus, if elected by the Participant, promptly, and in no event later than 20 business days, after a Participant elects to receive such Special Severance Bonus.

  • The amount determined as set forth under the heading "Special Severance Bonus; Stay Incentive Bonus - Special Severance Bonus" below.

  • Special Severance Bonus; Stay Incentive Bonus --------------------------------------------- Special Severance Bonus.

  • AMOUNT OF SPECIAL DATE OF INVOLUNTARY TERMINATION SEVERANCE BONUS Before 1 January 2001 75,000 Pounds Sterling On or after 1 Jan 01 but before 1 July 01 152,000 Pounds Sterling On or after 1 July 01 but before 1 Jan 02 232,000 Pounds Sterling On or after 1 Jan 02 but before 1 July 02 314,000 Pounds Sterling On or after 1 July 02 400,000 Pounds Sterling [EXULT LOGO] If at the time for payment of any Longevity Bonus or Special Severance Bonus, you are indebted to the Company or Exult, Inc.

  • The amount of the Special Severance Bonus will correspond to the duration of your employment with the Company prior to Involuntary Termination, as determined according to the table below, provided that the Amount of the Special Severance Bonus will, in any case, be reduced by the total of all Longevity Bonus amounts paid or payable.


More Definitions of Special Severance Bonus

Special Severance Bonus means: an amount equal to the aggregate annual bonus under the Executive Bonus Plan for the year in which the Executive incurs a
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Related to Special Severance Bonus

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

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

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

  • Severance Amount means:

  • Retention Bonus means the amount equal to:

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

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

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

  • Change in Control Benefits means the following benefits:

  • Accrued Bonus means the bonus, which may be negative or positive, which is calculated in the manner set forth in Section V.A.

  • 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).

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

  • Leave Salary means the monthly amount paid by the University to an employee who is on leave.

  • Accrued Compensation means an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay and (iv) bonuses and incentive compensation (other than the "Pro Rata Bonus" (as hereinafter defined)).

  • Severance Period means the period of time commencing on the date of an occurrence of a Change of Control and continuing until the earlier of (i) the date which is one and one-half years following the occurrence of the Change of Control, and (ii) the Executive's death.

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

  • Pro Rata Bonus means an amount equal to the Bonus Amount multiplied by a fraction the numerator of which is the number of days in the fiscal year through the Termination Date and the denominator of which is 365.

  • Performance Bonus means the performance bonus in respect of each Class payable to the General Partner by the Partnership which will be equal to 20% of the product of: (a) the number of Units of that Class outstanding on the Performance Bonus Date; and (b) the amount by which the Net Asset Value per Unit of that Class on the Performance Bonus Date (prior to giving effect to the Performance Bonus) plus the aggregate value of all distributions per Unit of that Class during the Performance Bonus Term exceeds $25.00.

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

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

  • Employment benefits means all benefits provided or made

  • Severance Costs means the costs which the employers are legally obliged to pay to or in respect of the Crew as a result of the early termination of any employment contract for service on the Vessel.

  • Accrued Obligations are (i) Executive’s accrued but unpaid salary through the date of termination, (ii) any unreimbursed business expenses incurred by Executive payable in accordance with the Company’s standard expense reimbursement policies, and (iii) benefits owed to Executive under any qualified retirement plan or health and welfare benefit plan in which Executive was a participant in accordance with applicable law and the provisions of such plan.