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

Severance. If the employment of the Employee is terminated by the Company without cause before the end of the Term of this Agreement, the Employee shall be paid, as a severance payment at the time of such termination, the amount equal to the greater of # 50% of the annual base salary in effect at the time of termination and # the base salary payable through the end of the Term; except as limited by Sections 4I and 66] and subject to the Employee’s execution and non-revocation of a release in the form attached hereto as [Exhibit B] in accordance with its terms.

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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