Example ContractsClausesConditions to Receipt of Severance Benefits
Conditions to Receipt of Severance Benefits
Conditions to Receipt of Severance Benefits contract clause examples
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Severance. If the Company terminates Employee’s employment without Cause or the Employee terminates the Employee’s employment for Good Reason, the Partnership shall pay to the Employee, in cash, the following:

Severance. If Executive's employment is terminated pursuant to a Qualifying Termination, Executive will receive an amount equal to twice the Base Salary plus twice the APP award target or other annual cash incentive target of Executive at the time of termination, payable in 24 substantially equal monthly installments (the “Severance Amount”). Executive's right to receive the Severance Amount is contingent upon Executive's continuing compliance with the provisions of Sections 8, 9 and 10 of this Agreement and subject to the Executive having executed and delivered to the Company an effective release of any and all claims in such form as is reasonably acceptable to the Company. Executive will not be required to mitigate the amount of payments under this Section 6, nor will any earnings that Executive may receive from any other source reduce any the Severance Amount. For purposes of this Agreement,

Severance. No severance will be due under this Agreement. However, Employee will be eligible for statutory benefits under Florida labor law, if any.

Severance. Employer shall pay severance to Employee in the amount of Five Thousand Dollars ($5,000.00), less applicable withholdings, within ten (10) days after Employee executes the Agreement and returns the executed Agreement to Employer, provided the employee does not revoke the Agreement as set forth in Section 17 (the “Severance Payment”). As additional consideration, Employer and Employee (collectively the “Parties”) agree that Employee shall be provided the following “Additional Equity” as set forth on Exhibit A.

Severance. Executive shall be entitled toSeverance”, which shall mean that Executive shall have the right to receive the following:

Severance. NWL shall pay to the Executive in a single lump sum, within 10 business days following the date of the employment termination, an amount equal to two times the sum of the Executive’s annual base salary plus his target bonus.

Severance. Without limiting the foregoing provisions of this Section 5.07, for a one (1)-year period following the Closing, for any termination of employment by Buyer other than for cause (as determined in Buyer’s reasonable discretion), Buyer shall provide, or shall cause to be provided, severance benefits to each Continuing Employee that include at least two weeks of base pay for every year of service with Seller (or any Affiliate thereof) and any respective predecessor, subject to a maximum of fifty-two (52) weeks of base pay per Continuing Employee.

Severance. If Employee’s employment is terminated either by the Company without Cause (as defined above) (and not for death or Disability), or by Employee pursuant to [Section 4(c)] above, then, subject to their execution and non-revocation of a reasonable and customary general release of claims in favor of the Company and its affiliates, Employee shall be entitled to receive the following:

Severance Benefits.Severance Benefits” means the Severance Pay and any other benefit payable pursuant to this Plan.

3.1Right to Severance Benefits. The Executive will be entitled to receive from the Company Severance Benefits, as described in this Article 3 herein, if the Executive satisfies the conditions set forth in this Article 3. Except with respect to the Accrued Obligations (and subject to [Section 3.3], as applicable), in no event herein, except as may be required by applicable federal and/or state law, shall the Executive be entitled to receive any other Severance Benefits if the Executive’s employment is terminated # for Cause or # due to a voluntary termination without Good Reason.

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