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Severance Benefits
Severance Benefits contract clause examples
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If you # enter into and comply with this Agreement, # provide Transitional Services to the Company, # are not terminated by the Company for Cause, # comply with your obligations under the Confidentiality Agreement, all as consistent with Paragraph 10, below, and # sign and do not revoke the “Supplemental Release” attached hereto as Exhibit A, the Company will provide you with the following “Severance Benefits”:

Severance Benefits. The benefits payable to a Participant in accordance with [Section 7.1] (Description of Severance Benefits for All Participants).

Severance Benefits. A Participant who has a Qualifying Termination is entitled to a “Severance Benefit” in the amount described in Section 4.1(a), unless otherwise specified in the Participant’s Participation Agreement. The Severance Benefit shall be paid in the time and form specified in Section 4.2(b) and shall be conditioned upon the Participant’s timely execution of a release as provided in Article 6.

Severance Benefits. Upon a Covered Termination (as defined in [Section 7.11]), and subject to the limitations and conditions set forth in this Agreement, Executive shall be eligible to receive the benefits set forth in this [Article 3]. The receipt of any severance payments or benefits pursuant to this Agreement is subject to Executive signing and not revoking a separation agreement and general release of claims (the “Release”), in substantially the form attached hereto and incorporated herein as Exhibit A, Exhibit B, or Exhibit C, as appropriate, which Release must become effective and irrevocable no later than the sixtieth (60th) day following Executive’s termination of employment (the “Release Deadline Date”). If the Release does not become effective and irrevocable by the Release Deadline Date, Executive will forfeit any right to severance payments or benefits under this Agreement. In no event will severance payments or benefits be paid or provided until the Release actually becomes effective and irrevocable.

Severance Benefits. Upon a Change in Control Termination (as defined in [Section 7.6]), and subject to the limitations and conditions set forth in this Agreement, Executive shall be eligible to receive the benefits set forth in this [Article 4]. The receipt of any severance payments or benefits pursuant to this Agreement is subject to Executive signing and not revoking the appropriate Release, which Release must become effective and irrevocable by the Release Deadline Date. If the Release does not become effective and irrevocable by the Release Deadline Date, Executive will forfeit any right to severance payments or benefits under this Agreement. In no event will severance payments or benefits be paid or provided until the Release actually becomes effective and irrevocable.

Severance Benefits. The Company will provide you with the Severance Benefits pursuant to the terms of the Severance Policy. The cash payment portions of the Severance Benefits shall be subject to applicable tax-related deductions and withholdings and shall commence within 60 days following the Separation Date. With respect to the accelerated vesting portion of the Severance Benefits, if the Separation Date occurs after the Effective Date (defined in Section 8(i) below), then the accelerated vesting will occur on the Separation Date.2 Alternatively, if the Effective Date occurs after the Separation Date, then any termination or forfeiture of the unvested portion of the Equity Grants that would otherwise occur under the Equity Documents on the Separation Date in the absence of this Agreement (and its accelerated vesting benefit) becoming effective # will be delayed until the Effective Date and # will only occur if

Termination without Cause or for Good Reason. Subject to the terms and conditions of eligibility for Executive’s receipt of severance benefits under this Agreement, including the timely execution and delivery (and non-revocation) by Executive of the Separation Agreement and General Release as set forth in SECTION 6.10, if the Company terminates Executive’s employment without Cause or Executive terminates her employment for Good Reason, the Company shall pay to Executive, as severance benefits, which amounts are in addition to the Compensation upon Termination set forth in SECTION 3.3 herein:

Severance Benefits. In consideration for the Executive’s promises as set forth herein, the Employer shall pay Executive the following severance benefits:

Severance Benefits. If Executive’s employment with the Company is terminated for reasons described in Section 5.3 prior to February 10, 2025 (the “Severance Eligibility Term”), then, provided that: # Executive executes and does not rescind a written document (a “Release”) releasing the Company and its affiliates, shareholders, directors, employees, agents, attorneys, representatives, predecessors, successors and assigns from any and all known claims or causes of action based upon any fact, circumstance, or event, existing at or prior to the date of termination (in a form determined by the Company), and # Executive strictly complies with all terms of this Agreement (including any attachments hereto) and any other agreement between Executive and the Company or any of its affiliates, then Executive will be entitled to (the “Severance Benefits”):

Termination For Any Reason Other Than Cause Or Permanent Disability Not In Connection With A Change of Control. If the Company terminates your employment for any reason other than Cause or Permanent Disability (both as defined herein) and a Separation occurs after the one year anniversary of the Start Date, and the Separation is not in connection with a Change of Control, then you will be entitled to the benefits described in Sections 7 (i)-(iv) below; any severance payments contemplated by Section 7(a)(i) and 7(a)(ii) below are conditioned upon you also # returning all Company property and confidential information in your possession on or within seven (7) days of the Separation; and # on or within sixty (60) days after the Separation (“Release Deadline”) executing a general release (the “Release”) of all known and unknown claims that you may have against the Company or persons affiliated with the Company in the form prescribed by the Company, without alterations , and you allow such release to become fully effective. If the Release does not become effective by the Release Deadline, you will forfeit any rights to severance or benefits under this Section 7 or elsewhere in this Agreement.

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