Cash Severance Benefit

Example Definitions of "Cash Severance Benefit"
Cash Severance Benefit. One or more cash payments by Nuvelo to, or on behalf of, a Participant on account of the employee's termination of employment with Nuvelo or in lieu of severance benefits. Such payments may be paid in a lump sum or over time. The manner by which the amount of such benefit is determined shall not affect the characterization of the benefit as a Cash Severance Benefit; provided, however, that salary, vacation pay, and bonuses that are earned but unpaid as of the date of such termination of... employment and distributions from any Elective Deferral Plans as defined in Section 2(b) shall not constitute Cash Severance Benefits. For example, payments pursuant to Section 5(b) shall constitute Cash Severance Benefits. View More
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