Payment in Lieu of Notice definition

Payment in Lieu of Notice has the meaning assigned thereto in Section 2(b) hereof.
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Payment in Lieu of Notice refers to a payment amount as described in Article 32.3(a)(ii) which the affected Society-represented lawyer(s) may choose to receive in lieu of their Working Notice period and entitlements to displacement, redeployment and recall as set out in this Article.
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Payment in Lieu of Notice for the purposes of this Agreement means a sum equal to: (i) the Executive’s Salary (as referred to in clause 8.1, at the rate in force at the time such payment is made) that he would have been entitled to receive under this Agreement during the applicable notice period referred to at clause 12.2 if the applicable notice had been given (or, if notice has already been given, during the remainder of the applicable notice period) (the “Relevant Period”); (ii) the cost to the Company of providing the benefits referred to at clauses 8.5 to 8.9 that the Executive would have been entitled to receive during the Relevant Period or, if the Company in its absolute discretion decides, a sum equal to 20 per cent of Salary during the Relevant Period in satisfaction of the benefits under clauses 8.5 to 8.9; and (iii) an amount in respect of the Executive’s bonus, and in calculating such bonus, the Executive shall be treated in like manner to his fellow executive officers still employed by the Company, provided that any such bonus will be pro-rated to take account of the time the Executive was actually employed by the Company during the relevant bonus year.
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Examples of Payment in Lieu of Notice in a sentence

  • The Payment in Lieu of Notice shall be paid on such date as is required by law, but no later than thirty (30) days after the date of the Executive’s Separation from Service.

  • The Payment in Lieu of Notice shall be paid on such date as is determined by the Company within thirty (30) days after the date of the Executive’s Separation from Service; provided, however, that if the Executive is a Specified Employee on the date of his or her Separation from Service, such Payment in Lieu of Notice shall be paid as provided in Section 10 hereof.

  • The Payment in Lieu of Notice shall be paid on such date as is required by law, but no later than thirty (30) days after the date of the Executive’s Separation from Service; provided, however, that if the Executive is a Specified Employee on the date of his or her Separation from Service, such Payment in Lieu of Notice shall be paid as provided in Section 9 hereof.

  • The employment of the Employee shall be deemed to have ceased on the date of the receipt of the Payment in Lieu of Notice.

  • Payment in Lieu of Notice - During a reduction of force, an employee may be offered six weeks of payment either in a lump sum or paid out over 3 pay periods when prior notice of separation is not provided.

  • The Payment in Lieu of Notice shall be made in full and final settlement of any claims the Executive may have against the Company or any Group Company.

  • Executive agrees that the terms of Clauses 2 and 3 of this Agreement are intended to satisfy, and do in fact satisfy, the Company’s obligations under Clauses 3.2 (Duration and Notice) and 3.3 (Payment in Lieu of Notice) of the Service Agreement.

  • Payment in Lieu of Notice In the event Employee's employment is terminated in a Termination Other Than for Cause, Employee will be paid as severance pay Employee's Base Salary for the period commencing on the date that Employee's employment is terminated and ending on the date which is six (6) months thereafter, on the dates specified in Section 3.1 for payment of Employee's Base Salary.

  • The Payment in Lieu of Notice shall be subject to such deductions as may be required by law and shall be made in full and final settlement of any claims the Employee may have against the Company or any Group Company arising from the Employment or the termination thereof.

  • Any entitlement that the Employee has or may have under any plan referred to under clause 5 and any future stock or other incentive plan shall be determined in accordance with the rules of the relevant plan and shall not be affected by the Employee's receipt of the Payment in Lieu of Notice.


More Definitions of Payment in Lieu of Notice

Payment in Lieu of Notice means a payment that can be made instead of actually allowing the Contractor to work through the notice period.
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Payment in Lieu of Notice has the meaning assigned thereto in Section 2(b) hereof. “Person” means any person, entity or “group” within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, except that such term shall not include (1) Sempra Energy or any of its Affiliates, (2) a trustee or other fiduciary holding securities under an employee benefit plan of Sempra Energy or any of its Affiliates, (3) an underwriter temporarily holding securities pursuant to an offering of such securities, (4) a corporation owned, directly or indirectly, by the shareholders of Sempra Energy in substantially the same proportions as their ownership of stock of Sempra Energy, or (5) a person or group as used in Rule 13d-1(b) under the Exchange Act. “Post-Change in Control Severance Payment” has the meaning assigned thereto in Section 5 hereof. “Pre-Change in Control Severance Payment” has the meaning assigned thereto in Section 4 hereof. “Principal Location” has the meaning assigned thereto in clause (b)(iii) of the definition of Good Reason, above. “Proprietary Information” has the meaning assigned thereto in Section 14(a) hereof. “Pro Rata Bonus” has the meaning assigned thereto in Section 5(b) hereof. “Release” has the meaning assigned thereto in Section 4 hereof. “Section 409A Payments” means any payments under this Agreement which are subject to Section 409A of the Code. “Sempra Energy Control Group” means Sempra Energy and all persons with whom Sempra Energy would be considered a single employer under Section 414(b) or 414(c) of the Code, as determined from time to time. “Separation from Service” has the meaning set forth in Treasury Regulation Section 1.409A-1(h). “SERP” has the meaning assigned thereto in Section 5(c) hereof. “Specified Employee” shall be determined in accordance with Section 409A(a)(2)(B)(i) of the Code and Treasury Regulation Section 1.409A-1
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Payment in Lieu of Notice shall be equal to:
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