Severance Pay. The Company shall pay you severance pay consisting of nine (9) months of your final base salary rate (the “Severance Pay”). The Company shall pay you Severance Pay in a single lump sum payment during the first two weeks of January, 2021.
Severance Pay. The Company will pay you a lump sum severance payment (the “Severance Pay”) in an amount equal to twelve (12) months of your Base Salary less the amount of Base Salary you receive during the Transition Period. The Company will pay you the Severance Pay, subject to tax-related deductions and withholdings, within thirty-five (35) days of the Separation Date provided the Supplemental Release (as defined in the Supplemental Release) has become fully effective. You acknowledge and agreed that you are not entitled to any bonus for 2019, 2020 or otherwise and that the Severance Pay shall be your sole post-employment compensation.
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