Common use of Cessation of Severance Benefits Clause in Contracts

Cessation of Severance Benefits. If Executive violates any provision of Sections 3 or 4 of this Agreement or the Employee Proprietary Information and Inventions Agreement, either during employment or thereafter, then, notwithstanding anything herein to the contrary, the Company shall have the right upon written notice to Executive to immediately cease payment of any severance benefits being provided to Executive, and Executive will not be entitled to any further compensation from the Company.

Appears in 4 contracts

Samples: Executive Employee Agreement (Ista Pharmaceuticals Inc), Executive Employee Agreement (Ista Pharmaceuticals Inc), Employee Agreement (Ista Pharmaceuticals Inc)

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Cessation of Severance Benefits. If Executive violates any provision of Sections 3 or 4 of this Agreement or the Employee Proprietary Information and Inventions Agreement, either during employment or thereafter, then, notwithstanding anything herein to the contrary, the Company shall have the right upon written notice to Executive to immediately cease payment of any severance benefits being provided to Executive, and Executive will not be entitled to any further compensation from the Company.

Appears in 1 contract

Samples: Executive Employment Agreement (Tenby Pharma Inc)

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