Basic Severance Benefits Clause Samples

Basic Severance Benefits. If within twenty-four months after a Change of Control your employment with AKS is involuntarily terminated without Cause by AKS pursuant to Section C(1) or you voluntarily terminate your employment for Good Reason pursuant to Section C(3), AKS will pay you, regardless of whether or not you execute a Release of Claims (as defined in Section E(2) below), severance pay equal to your base salary for a period of six months from your Date of Termination. The aggregate of such severance pay shall be paid to you in a single, undiscounted, lump sum payment within ten days following the Date of Termination unless you previously have requested in writing to receive such amount in regular monthly payments during the Severance Pay Period.

Basic Severance Benefits. If your employment with AKS is involuntarily terminated without Cause by AKS pursuant to Section C(1), AKS will pay you, regardless of whether or not you execute a Release of Claims (as defined in Section E(2) below), severance pay equal to your base salary for a period of six months from your Date of Termination. The aggregate of such severance pay shall be paid to you in a single, undiscounted lump sum payment within ten days following your Date of Termination.

Basic Severance Benefits. The benefits described in Sections 1.1, 1.2, and 1.3 below are subject to the limitations set forth in Sections 4.1 (which requires an election among applicable agreements providing severance benefits if more than one such agreement would apply in the particular circumstances of the termination of the Executive's employment and stipulates that any payments received under this Agreement are in lieu of other claims or rights), 4.2 (regarding withholding), and 4.3 (requiring the execution of a waiver and release by the Executive). 1.1 IF EMPLOYMENT IS TERMINATED WITHOUT CAUSE, ETC., WITHIN TWO YEARS OF A CHANGE OF CONTROL. If, within two years following the occurrence of a Change of Control, the Executive's employment with Key and its Subsidiaries is terminated by Key or its Subsidiary for any reason other than Cause, Disability, or death or by the Executive after a Reduction of Base Salary or a Mandatory Relocation has occurred:

Basic Severance Benefits. As long as you work through the Separation Date (defined below in numbered Paragraph 1), you are eligible for a severance payment representing two weeks of your base salary, less deductions (the “Basic Severance”); or

Basic Severance Benefits. In the event of the Officer's termination of employment under any circumstances, Officer shall be entitled to the basic severance benefits described below. 2.1.1 All salary and accrued vacation earned through the date of Officer's termination shall be paid to Officer. 2.1.2 Within ten (10) days of submission of proper expense reports by the Officer, the Company shall reimburse the Officer for all expenses reasonably and necessarily incurred by the Officer in connection with the business of the Company prior to Officer's termination of employment. 2.1.3 Officer shall receive the benefits, if any, under the Company's 401(k) Plan, nonqualified deferred compensation plan, employee stock purchase plan and other Company benefit plans to which Officer may be entitled pursuant to the terms of such plans.

Basic Severance Benefits. If within twenty-four months after a Change of Control your employment with AKS is involuntarily terminated without Cause by AKS pursuant to Section C(1) or you voluntarily terminate your employment for Good Reason pursuant to Section C(3), [(CEO & GENERAL COUNSEL ONLY) or you voluntarily terminate your employment within six months after a Change of Control pursuant to Section C(4),] AKS will pay you, regardless of whether or not you execute a Release of Claims (as defined in Section E(2) below), severance pay equal to your base salary for a period of six months from your Date of Termination. The aggregate of such severance pay shall be paid to you in a single, undiscounted lump sum payment within ten days following your Date of Termination.”

Basic Severance Benefits. If within twenty-four months after a Change of Control your employment with AKS is involuntarily terminated without Cause by AKS pursuant to Section C(1) or you voluntarily terminate your employment for Good Reason pursuant to Section C(3), or if you voluntarily terminate your employment within six months after a Change of Control pursuant to Section C(4), AKS will pay you, regardless of whether or not you execute a Release of Claims (as defined in Section E(2) below), severance pay equal to your base salary for a period of six months from your Date of Termination. The aggregate of such severance pay shall be paid to you in a single, undiscounted, lump sum payment within ten days following the Date of Termination unless you previously have requested in writing to receive such amount in regular monthly payments during the Severance Pay Period.

Basic Severance Benefits. The severance benefits provided under this Section 5 shall be in addition to payment of all salary and vacation earned or accrued through the date of Munro's termination of empl▇▇▇▇▇▇, payment of any bonuses earned through the date of termination of employment, reimbursement of any expenses incurred prior to termination of employment pursuant to the Company's expense reimbursement policy, and any and all benefits as may be payable as a result of termination of employment under the Company's 401(k) plan, and any other compensation or benefit programs.