Service Multiple definition

Service Multiple shall have the meaning ascribed to it in Section 7.4(c).
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Service Multiple shall be equal to the quotient resulting from a formula the numerator of which is the lesser of (a) full number of completed months that have elapsed since the Effective Date of this Agreement (but not less than 6 months) and (b) eighteen (18); and the denominator of which is twelve (12);
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Service Multiple means two if the Executive has served for two or less full years as an executive officer of the Company, or three if the Executive has served for more than two full years as an executive officer of the Company. For the purpose of determining the length of the Executive’s length of service as an executive officer, the Executive shall be deemed to continue in his or her position as an executive officer following a Change in Control for as long as the Executive remains an employee of the Company or its successor, notwithstanding any change in the title or position of the Executive.
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Examples of Service Multiple in a sentence

  • USDA Forest Service: Multiple Use-Sustained Yield Act of 1960, 16 U.S.C. 528-531.

  • For purposes of this Agreement, the “Service Multiple” shall be a fraction, the numerator of which is the number of full months (up to twenty-four (24) months) that Executive was employed with the Company prior to the date of termination and the denominator of which is twenty-four (24); provided that, the Service Multiple shall in no event be less than one-half (1/2) nor more than one (1).

  • USDA Forest Service: Multiple Use-Sustained Yield Act of 1960, 16 U.S.C. § 528-531.


More Definitions of Service Multiple

Service Multiple means 1.75. b. Paragraph 4(a)(ii) of the Termination Agreement shall be deleted in its entirety. c. Paragraph 4(a)(iii) of the Termination Agreement shall be amended as follows: (a) (iii) in lieu of any further base salary payments to the Executive for periods subsequent to the date that the termination of the Executive’s employment becomes effective, the Company shall pay as severance pay to the Executive a lump-sum cash amount equal to the Service Multiple (as defined in Section 3(g), as amended by the terms of this Agreement, Waiver and Release Agreement) times the Executive’s Annualized Salary. The severance pay due pursuant to this section shall be the total amount of severance pay payable to Executive subsequent to a change of control and shall be in lieu of any other severance payment granted or promised to Executive under any other agreements or policies of the Company, and, in the event Executive has been paid any severance payment prior to the time the severance pay under this section 4(a)(iii) becomes due and payable, the previous payment shall be deducted from the severance pay due hereunder. d. The paragraph reference “4(a)(ii)” shall be deleted from the fifth line of Paragraph 4(d). 2. All other terms, provisions, conditions and obligations of the Termination Agreement, not specifically amended hereby, shall remain in full force and effect. 3. The Executive hereby expressly releases the Company from obligations to the Executive which were eliminated, terminated or otherwise modified by the terms of this Amendment, Waiver and Release Agreement. 4. The parties hereby affirm and acknowledge that the amendments, waivers, and releases set forth, established by, and contained herein are for the limited purpose of enabling the Company to negotiate and enter into the Transaction specifically described above, and for no other purpose or transaction, and, in the event that the Transaction is not consummated by December 31, 2005, this Amendment, Waiver and Release Agreement shall automatically terminate and be of no further force or effect thereafter. 5. This Amendment, Waiver and Release Agreement is irrevocable to the fullest extent provided under the laws of the State of Georgia and may not be amended or otherwise modified without the prior written consent of the Company. 6. This Amendment, Waiver and Release Agreement shall be governed by and construed in accordance with the laws of the State of Georgia.
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Related to Service Multiple

  • Severance Multiple means 2.50; provided, however, that notwithstanding the foregoing, for each full month that elapses during the period beginning on the date the Executive attains age 63 and ending on the date the Executive attains age 65, the Severance Multiple shall be reduced by an amount equal to the product of (i) 1/24 and (ii) the excess of (A) the original Severance Multiple set forth above over (B) 1.0 (rounded to the nearest hundredth).

  • Applicable Multiplier means, with respect to any Rate Period for any Series of RVMTP Shares, the percentage set forth opposite the applicable credit rating most recently assigned to such Series by the Rating Agency in the table below on the Rate Determination Date for such Rate Period: *And/or the equivalent ratings of any other Rating Agency then rating the RVMTP Shares utilizing the highest of the ratings of the Rating Agencies then rating the RVMTP Shares.

  • Loop Concentrator/Multiplexer or "LCM" is the Network Element that does one or more of the following: aggregates lower bit rate or bandwidth signals to higher bit rate or bandwidth signals (multiplexing); disaggregates higher bit rate or bandwidth signals to lower bit rate or bandwidth signals (demultiplexing); aggregates a specified number of signals or channels to fewer channels (concentrating); performs signal conversion, including encoding of signals (e.g., analog to digital and digital to analog signal conversion); or in some instances performs electrical to optical (E/O) conversion. LCM includes DLC, and D4 channel banks and may be located in Remote Terminals or Central Offices.

  • Severance Multiplier means, with respect to any termination of Employee’s employment hereunder by the Company without Cause or by Employee with Good Reason, 1; provided, however, that in the event such termination occurs within the two (2) year period following a Change in Control, the Severance Multiplier shall instead equal 2.

  • Multiplier means the Multiplier specified in the Table.