Example ContractsClausesconditions to receipt of severance benefitsVariants
Conditions to Receipt of Severance Benefits
Conditions to Receipt of Severance Benefits contract clause examples

will provide Rosengarten with the benefits in this Paragraph 3, to which she is not otherwise entitled (collectively, the “Severance Benefits”). Rosengarten acknowledges and agrees that the Severance Benefits are in full and complete satisfaction of any payments or benefits owed to her in connection with the separation of her employment with the Bank (except for any benefits to which Rosengarten may be entitled under the Bank’s Supplemental Executive Retirement Plan or any Stock Option Award Agreement or Restricted Stock Unit Award Agreement between Rosengarten and the Bank) and that, upon her receipt of the Severance Benefits, she will have no further right or claim to severance pay or any other benefits in connection with her separation under the Employment Agreement or any other Bank policy, manual or practice.

Entire Agreement between the Parties on Severance Benefits. The Parties acknowledge and agree that this Agreement sets forth all severance pay and other benefits to which Rosengarten is entitled in connection with the separation of her employment with the Bank (except any benefits to which Rosengarten may be entitled under the Bank’s Supplemental Executive Retirement Plan or any Stock Option Award Agreement or Restricted Stock Unit Award Agreement between Rosengarten and the Bank). This Agreement supersedes and replaces Section 6 of the Employment Agreement in its entirety, as well as any other prior agreements, understandings, discussions and practices concerning severance pay and other benefits upon separation including, but not limited to, any personnel documents, handbooks, policies, incentive or bonus plans or programs, and any prior customers or practices of the Bank. Rosengarten acknowledges and agrees that, upon her execution of and failure to revoke this Agreement within the Revocation Period, she shall have no further rights, and the Bank shall have no further obligations to her, under Section 6 of the Employment Agreement. All other provisions of the Employment Agreement which by their terms survive termination of Rosengarten’s employment, including, without limitation the restrictive covenants in Section 7, shall remain in full force and effect according to their terms. This Agreement may not be modified or supplemented except by a subsequent written agreement signed by the Party against whom enforcement is sought.

In connection with her separation, the Bank has agreed to provide Rosengarten the payments and benefits outlined herein, which Rosengarten acknowledges and agrees are in excess of any benefits Rosengarten may have been entitled to receive under Section 6 of the Employment Agreement. This Agreement sets forth all benefits to which Rosengarten is entitled in connection with the separation of her employment with the Bank (except for any benefits to which Rosengarten may be entitled under the Bank’s Supplemental Executive Retirement Plan or any Stock Option Award Agreement or Restricted Stock Unit Award Agreement between Rosengarten and the Bank), and it supersedes and replaces in its entirety Section 6 of the Employment Agreement.

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