Company's Severance Payments. Contingent upon Executive executing this Agreement on or prior to the Deadline Date (defined below) and not revoking this Agreement during the Revocation Period (defined below), the Company agrees to provide the following consideration to Executive in connection with his resignation: # a severance payment of plus a one time payment for health and dental insurance for 18 months in the amount of . to be payable within ten (10) business days following the Effective Date (as defined below); # all options previously issued to Executive shall become fully vested immediately following Executive’s resignation on and he has the right to exercise these options for the full term of the option grants, provided, that any options that were not vested as of the date of termination shall not be exercisable until the Effective Date, and provided further, that should the Executive fail to execute this Agreement on or prior to the Deadline Date or should Executive revoke this Agreement during the Revocation Period, any unvested options as of the date of termination shall immediately expire and any vested options as of the date of termination shall be treated in accordance with the existing stock option documentation; # all shares of restricted stock previously issued to Executive shall become fully vested immediately following Executive’s resignation on , provided, that any shares of restricted stock that were not vested as of the date of termination shall not be sold, assigned, or otherwise transferred in any manner (and may remain in the custody of the Company) until the Effective Date, and provided further, that should the Executive fail to execute this Agreement on or prior to the Deadline Date or should Executive revoke this Agreement during the Revocation Period, all payments due under this paragraph and any unvested shares of restricted stock as of the date of termination shall immediately be forfeited back to the Company; ; and # payments to which Executive is due under all other Company benefit programs, including but not limited, to his and ESOP benefits.
Company's Severance Payments. Contingent upon Executive executing this Agreement on or prior to the Deadline Date (defined below) and not revoking this Agreement during the Revocation Period (defined below), the Company agrees to provide the following consideration to Executive in connection with his resignation: # a severance payment of plus a one time payment for health and dental insurance for 18 months in the amount of ., to be payable within ten (10) business days following the Effective Date (as defined below); # all options previously issued to Executive shall become fully vested immediately following Executive’Executive's resignation on and he has the right to exercise these options for the full term of the option grants, provided, that any options that were not vested as of the date of termination shall not be exercisable until the Effective Date, and provided further, that should the Executive fail to execute this Agreement on or prior to the Deadline Date or should Executive revoke this Agreement during the Revocation Period, any unvested options as of the date of termination shall immediately expire and any vested options as of the date of termination shall be treated in accordance with the existing stock option documentation; #(iii) (ii) all shares of restricted stock previously issued to Executive shall become fully vested immediately following Executive’Executive's resignation on , provided, that any shares of restricted stock that were not vested as of the date of termination shall not be sold, assigned, or otherwise transferred in any manner (and may remain in the custody of the Company) until the Effective Date, and provided further, that should the Executive fail to execute this Agreement on or prior to the Deadline Date or should Executive revoke this Agreement during the Revocation Period, all payments due under this paragraph and any unvested shares of restricted stock as of the date of termination shall immediately be forfeited back to the Company; ;# if Executive timely and properly elects continuation coverage under COBRA, the Company shall pay Executive's COBRA premiums for the Executive and his family for the lesser of # eighteen (18) months or # the shorter duration of such COBRA coverage; and # payments to which Executive is due under all other Company benefit programs, including but not limited, to his and ESOP benefits.
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