Example ContractsClausesSeverance
Severance
Severance contract clause examples

Severance. Executive shall be entitled to receive benefits upon a termination of employment only as set forth in this Section 4:

Severance. You will be eligible to enter into a Change in Control and Severance Agreement (the “Severance Agreement”) applicable to you based on your position within the Company. Any Severance Agreement will become effective as of the effective date specified in such Severance Agreement. The Severance Agreement will specify the severance payments and benefits you may become entitled to receive in connection with certain qualifying terminations of your employment with the Company. For purposes of clarity, other than any vesting acceleration benefits set forth in the Company’s Amended and Restated 2020 Equity Incentive Plan and the award agreements thereunder governing the terms of your stock options to purchase shares of Company common stock granted thereunder (to the extent not modified or superseded by your Severance Agreement), any severance payments, benefits and arrangements that may have applied to you before the Effective Date no longer will apply, and you will have no rights or entitlements under any such plans, programs, agreements or arrangements.

Severance. A severance payment (the "Severance Amount") in the Amount set forth on [Schedule A]. Subject to [Section 5(c)] and [Section 6], the Severance Amount shall be paid to Employee in equal installments in accordance with the Company's normal payroll practices over a period set forth on [Schedule A] (the "Severance Period"); provided that no amount of the severance shall be payable until the revocation period for the Release described in [Section 5(c)] shall have expired (and Employee shall not have revoked Employee's agreements in the Release), and any amount that would have been paid to Employee but for this proviso shall be accrued and paid to Employee on the first payroll date immediately following the expiration of such revocation period. Notwithstanding the foregoing, and in addition to any other rights or remedies the Company may have at law or in equity, if Employee breaches any of the provisions of the Restrictive Covenant Agreement, Employee's right to receive further payments of the Severance Amount shall be terminated. Severance provided pursuant to this Agreement is in lieu of, and not in addition to, any severance that might be available to Employee by law, contract, policy, or otherwise, all of which are hereby waived by Employee. If Employee receives any other severance, the Severance Amount shall be reduced by the amount of such other severance.

Severance. The Company will pay Employee severance in a total gross amount of Six Hundred and Fifteen Thousand and Twenty-Four Dollars ($615,024), less withholding for taxes and other similar items (the “Severance”). The Severance will be paid over a one-year period in substantially equal installments pursuant to the Company’s normal payroll practices as in effect from time to time, starting as soon as practicable, but not later than thirty (30) days, following the Effective Date.

Severance. The Company hereby acknowledges that you are eligible to participate in the E2open Parent Holdings, Inc. Executive Severance Plan (the “Severance Plan”) in accordance with the terms and conditions as in effect from time to time. In consideration for your opportunity to participate in the Severance Plan, you hereby acknowledge and agree that you are no longer eligible to participate in any other severance plans, programs policies or practices of the Company Group.

Severance. You will be eligible to participate in the Company’s Change in Control and Severance Agreement (the “CIC Agreement”) established, and as may be in effect from time to time, for senior-level employees that is applicable to you consistent with your position within the Company.

Severance. The Company agrees to pay Employee a total of Four Hundred Seventy-Four Thousand Nine Hundred and Eighty-Six Dollars ($474,986), representing twelve (12) months of Employee’s base salary, at a rate of Thirty-Nine Thousand Five Hundred Eighty-Two Dollars ($39,582) per month, less applicable withholdings, for twelve (12) months from the Termination Date. The payments to be made pursuant to the prior sentence will commence no later than on the first business day following the sixtieth (60th) day following the Termination Date, with the first payment to include the payments due and owing prior to such first payment date but for the application of this sentence. For the avoidance of doubt, and not in consideration of Employee’s execution of this Transition Agreement, the Company shall issue Employee’s final paycheck, representing all outstanding wages earned prior to the Termination Date, in addition to eighty and one half (80.5) days of accrued but unused paid time off, on the Termination Date.

Severance. If any provision of this Contract or part thereof is rendered void, illegal or unenforceable in any respect under any Law, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

Severance. The Company shall pay, or cause to be paid, to the Executive a cash severance payment in an amount equal to the product of two times the sum of # the Executive’s annual base salary on the date of the Change in Control (or, if higher, the annual base salary in effect immediately prior to the giving of the Notice of Termination) and # the Executive’s target annual bonus (“Target Bonus”) in respect of the fiscal year of the Company (a “Fiscal Year”) in which the Termination occurs (or, if higher, the average annual bonus actually earned by the Executive in respect of the three full Fiscal Years prior to the year in which the Notice of Termination is given) under the Company’s annual incentive plan (the “Bonus Plan”). This cash severance amount shall be payable in a lump sum, calculated without any present value discount, within 10 business days after the Executive’s date of Termination, or, if later, the Change in Control.

Severance. If any provision or part-provision of the Supply Agreement is or becomes invalid, illegal or unenforceable, it shall be deemed deleted, but that shall not affect the validity and enforceability of the rest of the Supply Agreement. If any provision of the Supply Agreement is deemed deleted under this [Section 17.4] the Parties shall negotiate in good faith to agree a replacement provision

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