Certain Obligations of Employer Following Termination of the Employment Term. Following termination of the Employment Term under the circumstances described below, Employer shall pay to Executive or his estate, as the case may be, the following compensation and provide the following benefits in full satisfaction and final settlement of any and all claims and demands that Executive now has or hereafter may have hereunder against Employer. In connection with Executive's receipt of any or all monies and benefits to be received pursuant to this Section 3.3, Executive shall not have a duty to seek subsequent employment during the period in which he is receiving severance payments and the Severance Amount (as defined in Section 3.3.2 hereof) shall not be reduced solely as a result of Executive's subsequent employment by an entity other than Employer.
Certain Obligations of Employer Following Termination of the Employment Term. Following termination of the Employment Term under the circumstances described below, Par shall pay to Executive or his estate, as the case may be, the following compensation and provide the following benefits. All lump sum amounts shall be paid within forty-five (45) days of the Date of Termination in accordance with Par’s regular payroll practices. In connection with Executive’s receipt of any or all compensation and benefits to be received pursuant to this Section 3.3, Executive shall not have a duty to seek subsequent employment during the period in which he is receiving severance payments and the Severance Amount (as defined in Section 3.3.2 hereof) shall not be reduced solely as a result of Executive’s subsequent employment by an entity other than Employer. Executive must execute within thirty (30) days after the Date of Termination Employer’s standard form of Release Agreement attached as Exhibit A hereto.
Certain Obligations of Employer Following Termination of the Employment Term. Following termination of the Employment Term under the circumstances described below, Employer shall pay to Executive or his estate, as the case may be, the following compensation and provide the following benefits. In addition, the Company shall pay the following compensation and provide the following benefits only if the Executive incurs a separation from service under Treas. Reg. § 1.409A-1(b) (a “Separation of Service”). All lump-sum payments owed by Employer shall be made to Executive within forty-five (45) days of the date of termination in accordance with Employer’s regular payroll practices. The Executive must execute within thirty (30) days after the date of termination Employer’s standard form of Release Agreement substantially in the form attached as Exhibit A hereto.
Certain Obligations of Employer Following Termination of the Employment Term. Following termination of the Employment Term under the circumstances described below, Employer shall pay to Executive or his estate, as the case may be, the following compensation and provide the following benefits in full satisfaction and final settlement of any and all claims and demands that Executive now has or hereafter may have hereunder against Employer. Any lump-sum payments owed by Employer shall be made to Executive within ten (10) business days of the Date of Termination. In connection with Executive's receipt of any or all monies and benefits to be received pursuant to this Section 3.3, Executive shall not have a duty to seek subsequent employment during the period in which he is receiving severance payments and any Severance Amount (as defined in Section 3.3.2 hereof) shall not be reduced solely as a result of Executive's subsequent employment by an entity other than Employer.
Certain Obligations of Employer Following Termination of the Employment Term. Following termination of the Employment Term under the circumstances described below, Employer shall pay to Executive or his estate, as the case may be, the following compensation and provide the following benefits. All lump-sum payments owed by Employer shall be made to Executive within forty-five (45) days of the Date of Termination in accordance with the Employer’s regular payroll practices. In connection with Executive’s receipt of any or all compensation and benefits to be received pursuant to this Section 3.3, Executive shall not have a duty to seek subsequent employment while he is receiving such compensation and benefits, and such compensation and benefits shall not be reduced solely as a result of Executive’s subsequent employment by an entity other than Employer. The Executive must execute within thirty (30) days after the Date of Termination Employer’s standard form of Release Agreement attach as Exhibit A hereto.
Certain Obligations of Employer Following Termination of the Employment Term. Following termination of the Employment Term under the circumstances described below, Employer shall pay to Executive or his estate, as the case may be, the following compensation and provide the following benefits. In connection with Executive’s receipt of any or all monies and benefits to be received pursuant to this Section 3.3, Executive shall not have a duty to seek subsequent employment during the period in which he is receiving such monies and benefits payments and the Severance Amount (as defined in Section 3.3.2 hereof) shall not be reduced solely as a result of Executive’s subsequent employment by an entity other than Employer. The Executive must execute within thirty (30) days after the Date of Termination Employer’s standard form of Release Agreement attached as Exhibit A hereto.
Certain Obligations of Employer Following Termination of the Employment Term. Following termination of the Employment Term under the circumstances described below, Employer shall pay to Executive or his estate, as the case may be, the following compensation and provide the following benefits in full satisfaction and final settlement of any and all claims and demands that Executive now has and hereafter may have hereunder against Employer. Any and all payments referenced in Section 3.3 are contingent upon Executive’s execution within thirty (30) days after the Date of Termination of Employer’s standard form Release Agreement in effect at the Date of Termination. In connection with Executive’s receipt of any or all monies and benefits to be received pursuant to this Section 3.3, Executive shall not have a duty to seek subsequent employment during the period in which he is receiving such monies and benefits payments and the Severance Amount (as defined in Section 3.3.2 hereof) shall not be reduced solely as a result of Executive’s subsequent employment by an entity other than Employer. Any and all payments referenced in Section 3.3 are contingent upon Executive’s execution within thirty (30) days after the Date of Termination of Employer’s standard form of Release Agreement on the Date of Termination. No payments shall be made prior to execution of the release agreement.
Certain Obligations of Employer Following Termination of the Employment Term. Following termination of the Employment Term under the circumstances described below, Par shall pay to Executive or his estate, as the case may be, the following compensation and provide the following benefits; provided, however that Employer shall only pay such compensation and provide such benefits if Executive incurs a separation from service under Treas. Reg. § 1.409A-1(h), and all references to “termination of employment” and similar or correlative phrases shall be construed to require a “separation from service” (as so defined after giving effect to the presumptions contained therein). All lump-sum payments owed by Employer shall be made to Executive within forty-five (45) days of the date of termination in accordance with Par’s regular payroll practices. As a condition to the receipt of any payments or benefits under this Section 3.3, Executive must execute, within thirty (30) days after the date of termination, Employer’s standard form of Release Agreement, the present form of which is attached as Exhibit A hereto.
