Change in Control Severance Benefit definition

Change in Control Severance Benefit means the severance benefit provided for in Recipient’s Change in Control Severance Agreement with the Company or a parent or subsidiary of the Company; provided, however, that such severance benefit is a “Change in Control Severance Benefit” for purposes of this Agreement only if, under the terms of Recipient’s Change in Control Severance Agreement, Recipient becomes entitled to the severance benefit (i) after a Change in Control of the Company has occurred, (ii) because Recipient’s employment with the Employer has been terminated by Recipient for good reason in accordance with the terms and conditions of the Change in Control Severance Agreement or by the Employer other than for cause, and (iii) because Recipient has satisfied any other conditions or requirements specified in the Change in Control Severance Agreement and necessary for Recipient to become entitled to receive the severance benefit. For purposes of this Section 3.3(a), the terms “change in control,” “good reason,” “cause” and “disability” shall have the meanings set forth in Recipient’s Change in Control Severance Agreement.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Change in Control Severance Benefit means the benefit provided for in Paragraph D of the Plan.

Change in Control Severance Benefit means the severance benefit provided for in Recipient’s Change in Control Severance

Examples of Change in Control Severance Benefit in a sentence

Such amount is referred to hereinafter as the “Change in Control Severance Benefit.” Subject to Section 5.7(a), the Company shall pay the Change in Control Severance Benefit to the Executive in substantially equal installments in accordance with the Company’s standard payroll practices over a period of twelve (12) consecutive months, with the first installment payable in the month following the month in which the Executive’s Separation from Service (as such term is defined in Section 5.5) occurs.
If Recipient is a party to a Change in Control Severance Agreement with the Company, all outstanding RSUs shall immediately vest if Recipient becomes entitled to a Change in Control Severance Benefit (as defined below).
In the event that either the Change in Control Severance Benefit Period exceeds the maximum continuation coverage period permissible under COBRA or such coverage is not available for any other reason, the Company shall reimburse Executive directly for the expenses incurred by him or her or his or her dependents, if any, to obtain substantially similar benefits during the remainder of the Change in Control Severance Benefit Period.
Employee hereby agrees that the execution of this Agreement and the application of the terms hereof shall not in any event constitute “Good Reason” as such term is defined in the Biosite Incorporated Change in Control Severance Benefit Plan effective October 22, 2004 (the “Biosite Severance Plan”) prior to the Effective Time.
This Section 5(c)(ii) shall be interpreted and applied to permit the payment of the Change in Control Severance Benefit prior to the date that is six months and one day after Executive’s Separation from Service with the Company only to the extent such payments would not thereby constitute a deferral of compensation subject to Code Section 409A.
Notwithstanding anything to the contrary set forth herein, Employee’s obligations under Sections 2(b), 2(c) and 2(d) shall immediately terminate and be of no further force or effect if the Employer or Company fails to make the payments or provide benefits to Employee required under the Agreement or Employer’s Change in Control Severance Benefit Plan, and fails to cure within thirty (30) days following receipt of written notice from Employee of its failure to pay.
If Recipient is a party to a Change in Control Severance Agreement with the Company or a parent or subsidiary of the Company, all outstanding RSUs shall immediately vest if Recipient becomes entitled to a Change in Control Severance Benefit (as defined below).
Second Amended and Restated Change in Control Severance Benefit Plan for Key Employees or any other such plans.
Notwithstanding any interpretation to the contrary, in no event shall the Employee be entitled to both the Basic Severance Benefit and the Change in Control Severance Benefit.
Change in Control Severance Benefit Plan for Key Employees, As Amended and Restated June 12, 1997 or any similar plan and waives any and all rights to participate in the Nortek, Inc.

More Definitions of Change in Control Severance Benefit

Change in Control Severance Benefit means the compensation and other benefits the Covered Employee will be provided pursuant to Section 4.

Change in Control Severance Benefit means the severance benefit provided for in Recipient’s Change in Control Severance Agreement with the Company; provided, however, that such severance benefit is a “Change in Control Severance Benefit” for purposes of this Agreement only if, under the terms of Recipient’s Change in Control Severance Agreement, Recipient becomes entitled to the severance benefit (a) after a change in control of the Company has occurred, (b) because Recipient’s employment with the Company has been terminated by Recipient for good reason in accordance with the terms and conditions of the Change in Control Severance Agreement or by the Company other than for cause, and (c) because Recipient has satisfied any other conditions or requirements specified in the Change in Control Severance Agreement and necessary for Recipient to become entitled to receive the severance benefit. For purposes of this

Change in Control Severance Benefit means the payment to be made to a Participant under section 8.

Change in Control Severance Benefit means a benefit, the eligibility for which, and the amount and form of payment of which, are determined under this Plan, but utilizing the relevant provisions of a Change-in-Control Agreement between an Executive and the Company, which is payable in accordance with Section 2.2(d) and the terms and conditions of this Plan.

Change in Control Severance Benefit means the benefit payable pursuant to Section 4.1.

Related to Change in Control Severance Benefit

Filter & Search

Related Definitions