Specified Benefits definition

Specified Benefits are as follows:

Specified Benefits are as follows: (A) the Company shall compensate Officer through the Date of Termination, as follows: (1) with respect to all amounts payable without regard to performance measures (including, without limitation, any amount payable to any entity then owned by Officer as reimbursement for the use of the aircraft owned by such entity), the full amount of such compensation on the Date of Termination; and (2) with respect to all amounts payable based on performance measures, any benefits or awards (including both cash and stock components) which pursuant to the terms of any plans have been earned or if partially earned then to the extent of the percentage to which such performance measure is attained , but which have not yet been paid to Officer, provided that all such amounts shall be paid at the time or times specified in such plans and not at the time for payment under (i)(B); (B) as severance pay and in lieu of any further salary for periods subsequent to the Date of Termination, the Company shall pay to Officer an amount in cash (subject to applicable taxes and withholdings) determined as follows: (1) One and one half times Officer’s annualized compensation without regard to performance measures (including, without limitation, any amount payable to any entity then owned by Officer as reimbursement for the use of the aircraft owned by such entity and any other recurring allowances to which Officer was entitled on the Date of Termination), payable at the rate in effect just prior to the time of the Notice of Termination paid in a lump sum on the date that is forty days (40) days after the Date of Termination; and (2) an amount equal to One Hundred percent (100%) of the aggregate amount of Officer’s Deemed Performance Amount, which amount shall be paid in a lump sum on a date that is forty days (40) after Date of Termination. (C) One hundred percent (100%) of unvested options to purchase the Company’s Common Stock held by Officer on the Date of Termination shall be accelerated so that such options are immediately exercisable; (D) for eighteen months after the Date of Termination, the Company shall arrange to provide Officer and Officer’s dependents with life, accident, medical and dental insurance benefits substantially similar to those which Officer was receiving immediately prior to the time of the Notice of Termination. Notwithstanding the foregoing, the Company shall not provide any benefit otherwise receivable by Officer pursuant to this paragraph (D) t...

Specified Benefits are as follows: (1) the company shall pay your full base salary through the Date of Termination at the rate in effect just prior to the time a Notice of Termination is given plus any benefits or awards (including both cash and stock components) which pursuant to the terms of any Plans have been earned or become payable, but which have not yet been paid to you (including amounts which previously had been deferred at your request); (2) as severance pay and in lieu of any further salary for periods subsequent to the Date of Termination, the Company shall pay to you in a single payment an amount in cash equal to two times the higher of (a) your annual base salary at the rate in effect just prior to the time a Notice of Termination is given or (b) your annual base salary in effect immediately prior to the change in control of the Company; (3) for a twenty-four (24) month period after the Date of Termination, the Company shall arrange to provide you and your dependents with life, accident, medical and dental insurance benefits substantially similar to those which you were receiving immediately prior to the change in control of the Company. Notwithstanding the foregoing, the Company shall not provide any benefit otherwise receivable by you pursuant to this paragraph (3) to the extent that a similar benefit is actually received by you from a subsequent employer during such twenty-four (24) month period, and any such benefit actually received by you shall be reported to the Company; and (4) the Company shall pay you for any vacation time earned but not taken at the Date of Termination, at an hourly rate equal to your annual base salary as in effect immediately prior to the time a Notice of Termination is given divided by 2080.

Examples of Specified Benefits in a sentence

• Upon Resignation of Executive, Specified Benefits to which Executive was entitled immediately prior to Resignation shall continue on the same terms and conditions as provided in Paragraph 7(e) in the case of Termination (including equivalent payments provided for therein), and Post-Period Benefits shall be provided on the same terms and conditions as provided in Paragraph 7(e) in the case of Termination.

• For purposes of determining whether Executive would receive a greater after-tax benefit from the Capped Benefit than from the Specified Benefits, there shall be taken into account all payments and benefits Executive will receive upon a change in control of the Company (collectively, excluding the Specified Benefits, the "Change of Control Payments").

• Upon Resignation of Executive, Specified Benefits to which Executive was entitled immediately prior to Resignation shall continue on the same terms and conditions as provided in Paragraph 7(e) in the case of Termination (including equivalent payments provided for therein).

• The Capped Benefit is the Specified Benefits, reduced by the amount necessary to prevent any portion of the Specified Benefits from being "parachute payments" as defined in section 280G(b)(2) of the Internal Revenue Code of 1986, as amended ("IRC"), or any successor provision.

• The Capped Benefit is the Specified Benefits, reduced by the amount necessary to prevent any portion of the Specified Benefits from being “parachute payments” as defined in Section 280G(b)(2) of the Internal Revenue Code of 1986, as amended (“IRC”), or any successor provision.

More Definitions of Specified Benefits

Specified Benefits are any amounts or benefits that would be subject to Code Section 409A penalties if the Company were to pay them, pursuant to this Agreement, on account of the Executive’s Separation from Service.

Specified Benefits are any amounts or benefits that would be subject to Section 409A penalties if the Company were to pay or otherwise settle such amounts or benefits, pursuant to this Agreement, on account of the Senior Officer’s separation from service. Within 14 calendar days after the end of the 409A Suspension Period, the Senior Officer shall be paid a lump sum payment in cash equal to any Specified Benefits delayed because of the preceding sentence, without interest. Thereafter, the Senior Officer shall receive any remaining payments or other benefits as if there had not been an earlier delay.

Specified Benefits has the meaning ascribed to it in Section 6.

Specified Benefits has the meaning set forth in Section 8.05(f).

Specified Benefits is defined in Section 7.2(b).

Specified Benefits means those community benefits requirements set out in Part One of the Community Benefit Project Plan.

Specified Benefits has the meaning set forth in Section 6.4(f).