Special Termination Indemnity Payment definition

Special Termination Indemnity Payment means an amount equal to 24 months of the Executive's total cash compensation (i.e. base salary plus EPA Guideline amount) in effect on the date of termination of employment;
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Special Termination Indemnity Payment means an amount equal to 24 months
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Special Termination Indemnity Payment means an amount equal to 24 months --------------------------------------- of the Executive's total cash compensation (i.e. base salary plus EPA Guideline amount) in effect on the date of termination of employment;
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Examples of Special Termination Indemnity Payment in a sentence

  • To the extent the Special Termination Indemnity Payment is subject to Section 409A of the United States Internal Revenue Code of 1986, as xxxxxxx xxxx xxxx xx xxxx ("Xxxx"), such Payment shall be paid as provided in this Agreement upon separation from service with the Employer and all of its affiliates or, in the case of a Specified Employee, on the earliest to occur of (i) death, and (ii) 6 months after a separation from service with the Employer and all of its affiliates.


More Definitions of Special Termination Indemnity Payment

Special Termination Indemnity Payment means an amount paid in 36 equal monthly installments of the Executive's total cash compensation (i.e. base salary plus annual bonus guideline amount) in effect on the date of termination after having the Executive transferred to the non-active payroll of the Company in which case all benefit plan coverage continues at the previous level for that same number of months except for coverage under the Company's short-term and long-term disability plans, vacation program, eligibility in the Novelis Conversion Plan of 2005 or any other long-term incentive plans adopted by the Company and perquisite benefits (car, financial and tax counseling, club membership) all of which shall cease on Date of Termination. Monthly installments paid on the non-active payroll shall be excluded in the calculation of earnings for purposes of calculating the pension benefit while the duration on the non-active payroll shall be included as service for calculating years of service under the Company's pension plans. In the event of the Executive's death, these amounts will be payable immediately and the benefits will continue for the remainder of the 36-month period.
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Related to Special Termination Indemnity Payment

  • Lease Termination Payments means all payments received by or on behalf of any Seller with respect to a Lease with respect to any terminations, surrenders, modifications, renewals or amendments of any such Lease.

  • Indemnity Payment shall have the meaning set forth in Section 4.4(a).

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

  • Indemnification Period means the period of time during which Indemnitee shall continue to serve as a director or as an officer of the Corporation, and thereafter so long as Indemnitee shall be subject to any possible Proceeding arising out of acts or omissions of Indemnitee as a director or as an officer of the Corporation.

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

  • Indemnification Expenses shall have the meaning set forth in Section 6.11(a).

  • Swap Termination Payment Upon the designation of an “Early Termination Date” as defined in the Swap Agreement, the payment to be made by the Swap Administrator to the Swap Provider from payments from the Trust Fund, or by the Swap Provider to the Swap Administrator for payment to the Trust Fund, as applicable, pursuant to the terms of the Swap Agreement.

  • Indemnification Cap has the meaning set forth in Section 9.4(a).

  • Termination Costs means all documented Direct Costs and Indirect Costs incurred by Transmission Owner in connection with the performance of the Services (i) prior to the effective date of termination, including such costs incurred for materials, equipment, tools, construction equipment and machinery, engineering and other items, materials, assets or services that cannot reasonably be avoided, mitigated or cancelled, (ii) to unwind any work undertaken prior to or after the effective date of termination to the extent reasonably necessary to return the Projects to a configuration or condition in compliance with Good Utility Practice and applicable Law, and (iii) arising from cancellation costs relating to orders or contracts entered into in connection with the performance of Services by Transmission Owner prior to the effective date of the termination.

  • Indemnification Event means any event, action, proceeding or claim for which a Person is entitled to indemnification under this Agreement.

  • Indemnification Threshold has the meaning set forth in Section 11.5.

  • Applied Special Termination Advance has the meaning assigned to such term in Section 2.05.

  • Special Termination Advance means an Advance made pursuant to Section 2.02(g).

  • Indemnification Escrow Amount has the meaning set forth in Section 2.2(b).

  • Indemnity, Subrogation and Contribution Agreement means the Indemnity, Subrogation and Contribution Agreement among Xxxxx 0, the Borrower, the Subsidiary Loan Parties and the Collateral Agent, substantially in the form of Exhibit C-3.

  • Termination Payment Date means the date on which the RECIPIENT is required to repay to ECOLOGY any outstanding balance of the loan and all accrued interest.

  • Indemnification Escrow Fund has the meaning set forth in Section 2.12(a).

  • Termination Amount has the meaning set forth in Section 7.02(a).

  • Reverse Termination Fee shall have the meaning set forth in Section 9.2(b).

  • Termination Fee has the meaning set forth in Section 7.02(a).

  • Estimated Swap Termination Payment means, with respect to an Early Termination Date, an amount determined by Party A in good faith and in a commercially reasonable manner as the maximum payment that could be owed by Party B to Party A in respect of such Early Termination Date pursuant to Section 6(e) of the ISDA Master Agreement, taking into account then current market conditions.

  • Indemnification Obligation means any existing or future obligation of any Debtor to indemnify current and former directors, officers, members, managers, sponsors, agents or employees of any of the Debtors who served in such capacity, with respect to or based upon such service or any act or omission taken or not taken in any of such capacities, or for or on behalf of any Debtor, whether pursuant to agreement, letters, the Debtors’ respective memoranda, articles or certificates of incorporation, corporate charters, bylaws, operating agreements, limited liability company agreements, or similar corporate or organizational documents or other applicable contract or law in effect as of the Effective Date.

  • Termination Proceeds means any proceeds arising out of a sale of Receivables (or interests therein) pursuant to subsection 12.01(b) of the Agreement with respect to Series 2001-D.

  • Reimbursement Payment shall have the meaning given to that term in Subparagraph 2.02(c).

  • Indemnified Losses is defined in Section 5.03 of the Servicing Agreement.

  • Indemnification Notice has the meaning set forth in Section 11.3(a).