Severance Pay

Example Definitions of "Severance Pay"
Severance Pay. Shall mean an amount equal to the sum of the Base Salary in effect on the date of termination of Executive's employment, plus the amount of the Target Bonus for the Executive for the year in which the Executive's employment is terminated, divided by twelve (12) (each of the 12 shares to constitute a "month's" Severance Pay); PROVIDED, HOWEVER, that in the event Executive terminates his employment for Good Reason based on a reduction in Base Salary, then the Base Salary to be used in calculating... Severance Pay shall be the Base Salary in effect immediately prior to such reduction in Base Salary. View More Arrow
Found in Vertex Pharmaceuticals Inc contract
Severance Pay. Shall mean an amount equal to the sum of the Base Salary in effect on the date of termination of Executive's employment, plus the amount of the a pro rated Target Bonus for which has been earned by Executive but not paid prior to the Executive for the year in which the Executive's employment is terminated, date of termination of employment, divided by twelve (12) (each of the 12 shares to constitute a "month's" Severance Pay); PROVIDED, HOWEVER, that in the event Executive terminates his... employment for Good Reason based on a reduction in Base Salary, then the Base Salary to be used in calculating Severance Pay shall be the Base Salary in effect immediately prior to such reduction in Base Salary. View More Arrow
Found in Vertex Pharmaceuticals Inc contract
Severance Pay. Shall mean an amount equal to the sum of the Base Salary in effect on the date of termination of the Executive's employment, plus the amount of the a pro rated Target Bonus for Award which has been earned by the Executive for but not paid prior to the year in which the Executive's employment is terminated, date of termination of employment, divided by twelve (12) (each of the 12 shares to constitute a "month's" Severance Pay); PROVIDED, HOWEVER, that in the event the Executive terminates his... employment for Good Reason based on a reduction in Base Salary, then the Base Salary to be used in calculating Severance Pay shall be the Base Salary in effect immediately prior to such reduction in Base Salary. 3 View More Arrow
Found in Vertex Pharmaceuticals Inc contract
View Variations (2) Arrow
Severance Pay. (a) in the event of a Termination prior to or on December 11, 2009, the greater of two (2) weeks of the Executive's base salary as of the date of Termination for each completed twelve-month period of the Executive's service prior to the Termination or $50,000; (b) in the event of a Termination following December 11, 2009, the greater of two (2) weeks of the Executive's base salary as of the date of Termination for each completed twelve-month period of the Executive's service prior to the... Termination or $100,000; in all cases less applicable withholding and other taxes View More Arrow
Found in LeMaitre Vascular, Inc. contract
Severance Pay. (a) in the event of a Termination prior to or on December 11, 2009, 2006, $50,000; (b) in the event of a Termination following December 11, 2006, the greater of $100,000 or two (2) weeks of the Executive's base salary as of the date of Termination for each completed twelve-month period of the Executive's service prior to the Termination or $50,000; (b) in the event of a Termination following December 11, 2009, the greater of two (2) weeks of the Executive's base salary as of the date of... Termination for each completed twelve-month period of the Executive's service prior to the Termination or $100,000; Termination, in all cases less applicable withholding and other taxes View More Arrow
Found in LeMaitre Vascular, Inc. contract
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Severance Pay. Shall mean any lump sum payment made to a Participant solely on account of eligibility to receive such payment under this Plan.
Found in HUDSON UNITED BANCORP contract
Severance Pay. The difference, if any, between (1) three months' pay at your then-current base salary and (2) your earned and unused Personal Days Payment; provided, however, that the payment of such Severance Pay is contingent upon your timely execution and delivery to BearingPoint of a Separation and Release Agreement (a "Release").
Found in BEARINGPOINT INC contract
Severance Pay. Or "Severance Payment" or "Severance Payments" means payments to eligible Employees pursuant to Section 4 hereof.
Found in Walter Energy, Inc. contract
Severance Pay. (e) "Severance Pay" means an amount equal to one-half of Executive's base salary as in effect on the Executive's last day of employment (exclusive of any other compensation).
Found in Merida Merger Corp. I contract
Severance Pay. Amounts payable as set forth in Sections 5(a) and (b).
Found in NII HOLDINGS INC contract
Severance Pay. An amount equal to the sum of the Base Salary in effect on the date of termination of Executive's employment, plus the amount of the Target Bonus for the Executive for the year in which the Executive's employment is terminated, divided by twelve (12)
Found in Vertex Pharmaceuticals Inc contract
Severance Pay. Severance Allowance as provided in Section 3(a) and Exhibit A plus Alternate AIP Award or Alternate SIP Award, as applicable, as provided in Section 3(c) and (d)
Found in Motorola Solutions Inc. contract
Severance Pay. (a) prior to a Change of Control, six (6) months of the Executive's base salary as of the date of Termination; and (b) following a Change of Control, nine-twelfths (9/12th) of the Executive's average Compensation for the two completed calendar years prior to the date of Termination, in each case less applicable withholding and other taxes
Found in LeMaitre Vascular, Inc. contract
All Definitions