Example ContractsClausesReceipt of Benefits
Receipt of Benefits
Receipt of Benefits contract clause examples

Conditions to Receipt of Severance Benefits. Severance Benefits will be subject to Executive signing and not revoking a release of claims in a form provided by the Company within 30 days after the Termination Date (the “Release”). The Release shall not impose any additional post-employment restrictive covenant obligations on Executive (other than those already reflected in any proprietary information agreement or similar provision or agreement to which Executive is then subject or a party), shall not require him to release any claims for benefits due under the terms of this Agreement or benefits under the then-existing terms of any agreement, plan or arrangement of the Company Parties or their affiliates, and shall become effective (if not revoked) seven days after Executive’s delivery of an executed copy to the Company. If a conforming Release is provided to Executive within 30 days after his Termination Date, no Severance Benefits will be paid or provided until the Release becomes effective. Executive shall also resign from all positions and terminate any relationships as an employee, advisor, officer or director with the Company and any of its affiliates, each effective on the Termination Date.

Receipt of Benefits. If Executive is entitled to receive benefits pursuant to Section 9(a) hereof:

Conditions to Receipt of Severance Benefits. The receipt of any and all severance benefits under this Agreement is expressly subject to and conditioned upon Employee signing and not revoking a separation agreement and release of claims in a form provided by the Company (the “Separation Agreement”) within the applicable time period set forth therein, and permitting such Separation Agreement to become fully effective in accordance with its terms, which shall in no event be later than 60 days following Employee’s Separation from Service (the “Separation Agreement Deadline”). No severance benefits will be paid unless and until the Separation Agreement becomes effective. As a condition to the receipt of severance benefits, Employee shall also be required to comply with the terms of this Agreement and the terms of the Employee Proprietary Information and Inventions Agreement referred to in Section 5(b) and Employee must resign from all positions and terminate any relationships as an employee, advisor, officer or director with the Company and any of its affiliates, each effective on the date of termination.

Conditions to Receipt of Severance Benefits. As a condition to receiving the payments and benefits set forth in Section 5.2 and Section 5.3, # Executive must execute and deliver to the Company a release of claims in a form reasonably acceptable to the Company and such release must have become effective and the revocation period provided therein must have expired without Executive having revoked such release within the 60-day period following the date of termination, and # Executive must not have revoked or breached the provisions of such

Receipt of Benefits. If Executive is entitled to receive benefits pursuant to Section 9(a) hereof:

Conditions to Receipt of Severance Benefits. The receipt of any applicable Severance Benefits pursuant to this Section 8 will be subject to you signing and not revoking a separation agreement and release of claims in a form reasonably satisfactory to the Company (the “Separation Agreement”). You shall also resign from all positions and terminate any relationships as an employee, advisor, officer or director with the Company and any of its affiliates, each effective on the date of termination. No Severance Benefits will be paid or provided until the Separation Agreement becomes effective.

Receipt of Benefits. If Executive is entitled to receive benefits pursuant to Section 9(a) hereof:

Conditions to Receipt of Severance Benefits. The receipt of the Severance Benefits provided in Section 5.3 and [Section 5.4] above will be subject to Executive signing and not revoking a separation agreement and release of claims in a form reasonably satisfactory to the Company (the “Separation Agreement”) within the time period set forth therein, which shall not exceed 50 days from the date of Executive’s Separation from Service (the “Release Period”). No Severance Benefits will be paid or provided until the Separation Agreement becomes effective. If the Release Period described in the preceding sentence spans two calendar years, then payment of Severance Benefits will in any event commence in the second calendar year to the extent required to comply with Section 409A of the Internal Revenue Code of 1986, as amended (“[Section 409A]”). Executive shall also resign from all positions and terminate any relationships as an employee, advisor, officer or director with the Company and any of its affiliates, each effective on the date of termination.

Receipt of Benefits. If Executive is entitled to receive benefits pursuant to Section 9(a) hereof:

Conditions to Receipt of Severance Benefits. The receipt of the Severance Benefits provided in Section 6.3 and Section 6.4 above, as applicable, will be subject to Employee signing and not revoking within the permitted timeframe a separation agreement and release of claims in substantially the form set forth on [Exhibit A] hereto (the “Separation Agreement and General Release”) within the time period set forth therein, which shall not exceed thirty (30) days from the date of Employee’s Separation from Service (the “Release Period”). No Severance Benefits will be paid or provided until the Separation Agreement and General Release becomes effective. If the Release Period described in the preceding sentence spans two calendar years, then payment of Severance Benefits will in any event commence in the second calendar year to the extent required to comply with Section 409A of the Internal Revenue Code of 1986, as amended (“[Section 409A]”). Employee shall also resign from all positions and terminate any relationships as an employee with the Company and any of its affiliates, each effective on the date of termination.

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