- termination payment
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A payment made on termination of a contract.Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
termination payment
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eligible termination payment — noun a lump sum payment made by an employer to an employee on termination of employment. Also, ETP …
termination fee — USA Also known as a break fee or a termination fee. This term has a number of meanings. In the context of: • Mergers and acquisitions, a payment from the seller to the buyer if a merger or acquisition transaction is not completed as a result of… … Law dictionary
termination fee — payment that must be made for ending an activity, form of a financial penalty for canceling a transaction … English contemporary dictionary
Termination Date — The day on which a swap contract becomes invalid and no further exchanges will occur. A final payment is made upon a swap s termination. The termination date is also referred to as a swap s expiration date . Unlike futures contracts, swaps are… … Investment dictionary
severance payment — See termination payment. Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010 … Law dictionary
progress payment — Payment made as work progresses under a contract, upon the basis of costs incurred, of percentage of completion accomplished, or of a particular stage of completion. The term does not include payments for partial deliveries accepted by the… … Military dictionary
PAYG payment summary — noun (in the Australian tax system) a certificate issued by an employer to an employee at the end of a financial year or on termination of employment, detailing gross income, tax paid, contributions to superannuation, etc.; formerly known as a… …
Surrogatum — is a thing put in the place of another or a substitute. [New Shorter Oxford English Dictionary. 1997. Version 1.0.03] The Surrogatum Principle pertains to a Canadian income tax principle involving a person who suffers harm caused by another and… … Wikipedia
Credit default swap — If the reference bond performs without default, the protection buyer pays quarterly payments to the seller until maturity … Wikipedia
change of control clause — A contractual provision which gives a party to an agreement enhanced protection if the controlling shareholding of the other party is transferred. In commercial contracts a change of control clause will often give the party who is not subject to… … Law dictionary
