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Conditions to Receipt of Severance Benefits
Conditions to Receipt of Severance Benefits contract clause examples

Severance. In the event that Employee's employment is terminated pursuant to Section 1 of this Agreement (exclusive of a termination after a change in control where severance is governed by the provisions contained in Section 13 herein and exclusive of termination pursuant to Section 5, where material breach is committed by the Employee), the Employee shall receive severance pay for a period of one (1) year following termination of employment. Severance will be paid in accordance with normal and customary payroll practices of the Employer. The aggregate severance will be equal to the Employee's then current, annual base compensation.

Severance. In the event that Employee's employment is terminated pursuant to Section 1 of this Agreement (exclusive of a termination after a change in control where severance is governed by the provisions contained in Section 13 herein and exclusive of termination pursuant to Section 5, where material breach is committed by the Employee), the Employee shall receive severance pay for a period of one (1) year following termination of employment. Severance will be paid in accordance with normal and customary payroll practices of the Employer. The aggregate severance will be equal to the Employee's then current, annual base compensation.

Severance. In the event that Employee’s employment is terminated by Employer pursuant to Section 1 of this Agreement (exclusive of a termination after a change in control where severance is governed by the provisions contained in Section 14 herein and exclusive of termination pursuant to Section 5), the Employee shall receive one (1) year of severance pay following termination of employment. Severance will be paid in accordance with normal and customary payroll practices of the Employer. The aggregate severance will be equal to the Employee’s then current, annual base compensation.

Severance. Notwithstanding anything else contained in this Agreement, in the event that Employee’s employment is terminated prior to the end of the Employment Contract Term by Employer pursuant to Section 6(a) of this Agreement or by Employee under Section 6(e), the Employee shall receive severance pay equal to base salary for the greater of # the remainder of the Employment Contract Term or # twelve (12) months following termination of employment. Severance will be paid in accordance with normal and customary payroll practices of the Employer. The aggregate severance will be based on the Employee’s then current, annual base compensation. No severance shall be due if Employee is terminated pursuant to Sections 6 [(b), (c) or (d) herein]n].

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