Define: Payment in Lieu of Notice

How is Payment in Lieu of Notice defined in a legal contract?

• Payment in Lieu of Notice means a sum equal to the salary that the executive would have received under this agreement during the applicable notice period, the cost of providing benefits the executive would have received during the relevant period, and an amount in respect of the executive's bonus. Seen in 1 SEC filing
• Payment in Lieu of Notice refers to a payment amount which the affected lawyer may choose to receive in lieu of their working notice period and entitlements to displacement, redeployment, and recall. Seen in 1 SEC filing
• Payment in Lieu of Notice means a payment that can be made instead of allowing the Contractor to work through the notice period. Seen in 1 SEC filing
• Payment in Lieu of Notice means the payment received by you in relation to the notice period the employer should have given according to the terms of your employment or letter of appointment; or any part of a compensation payment for loss of employment that is directly or indirectly related to the notice period the employer should have given to you under the employment or letter of appointment. Seen in 1 SEC filing

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of payment in lieu of notice' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Payment in Lieu of Notice means an amount given instead of the necessary notice period, equivalent to the salary and benefits due in that period.

Relevant Contract Types

• Employment Contract
• Executive Agreement
• Partnership Agreement
• Independent Contractor Agreement
• Director Service Agreement

Relevant Circumstances

• Employee termination
• Contract dissolution
• Restructuring of roles

Relevant Sectors

• Financial Services
• Information Technology
• Construction
• Healthcare
• Retail

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Genie Definition 2

• Payment in Lieu of Notice means a chosen compensation amount received in place of working through the stipulated notice period.

Relevant Contract Types

• Employment Contract
• Severance Agreement
• Independent Contractor Agreement

Relevant Circumstances

• Early termination of contract
• Employee dismissal

Relevant Sectors

• Information Technology
• Manufacturing
• Healthcare
• Retail
• Telecommunications

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