Common use of CONDITIONS FOR SEVERANCE Clause in Contracts

CONDITIONS FOR SEVERANCE. (a) The severance payment payable to Executive pursuant to SECTION 3.2 shall be in consideration of Executive’s continuing obligations hereunder after such termination, including Executive’s obligations under ARTICLE 2. (b) As a condition to the receipt of any severance payment, Executive agrees to execute and deliver a mutually acceptable severance and release agreement, including a waiver of all claims except for any claims relating to benefits due under the plans described in SECTION 1.3(b) and any future amount which may be payable as a deferred bonus. The severance and release agreement shall be in a form reasonably acceptable to the Board and shall be delivered to the Executive at the time of termination; provided that such release shall not provide for a release of Executive’s right to indemnification under the Company’s organizational documents, indemnification agreement, if any, or directors and officers insurance against third party claims. (c) As a condition to the receipt of any severance payment, Executive agrees that any and all claims and any and all causes of action of any kind or character, including all claims and causes of action arising out of Executive’s employment with the Company, the termination of such employment, any claims or demands against the Company based upon Executive’s employment for any monies other than those specified in SECTION 3.2, and the actions by the officers, directors, executives and agents of Company shall be resolved through a dispute resolution process as provided in SECTION 4.11; PROVIDED, HOWEVER, that any determination as to whether and as of what date Executive has suffered a Permanent Disability are delegated to the Board and any objection by Executive with any such determination shall be limited to whether the Board reached such decision in good faith. (d) Except as expressly provided herein, Executive shall not be entitled to any other severance payment. The severance payments provided for herein are Executive’s sole remedy for termination of his employment at the Company.

CONDITIONS FOR SEVERANCE. (a) The severance payment payable to Executive pursuant to SECTION 3.2 shall be in consideration of of, and subject to, Executive’s continuing obligations hereunder after such termination, including Executive’s obligations under ARTICLE 2. (b) As a condition to the receipt of any severance payment, Executive agrees to execute and deliver deliver, by the Release Expiration Date, a mutually acceptable severance and release agreement, including a waiver of all claims except for any claims relating to benefits due under the plans described in SECTION 1.3(b) and any future accrued vested amount which may be payable as a deferred bonus. The severance and release agreement shall be in a form reasonably acceptable to the Board and shall be delivered to the Executive at the time of terminationBoard; provided that such release shall not provide for a release of Executive’s right to indemnification under the Company’s organizational documents, indemnification agreement, if any, or directors and officers insurance against third party claims. The “RELEASE EXPIRATION DATE” is that date that is 21 days following the date upon which the Company delivers the Release to Executive (which shall occur no later than seven days after the Executive’s termination date), or in the event that such termination of employment is “in connection with an exit incentive or other employment termination program” (as such phrase is defined in the Age Discrimination in Employment Act of 1967, as amended), the date that is 45 days following such delivery date. (c) As a condition to the receipt of any severance payment, Executive agrees that any and all claims and any and all causes of action of any kind or character, including all claims and causes of action arising out of Executive’s employment with the Company, the termination of such employment, any claims or demands against the Company based upon Executive’s employment for any monies other than those specified in SECTION 3.2, and the actions by the officers, directors, executives and agents of Company shall be resolved through a dispute resolution process as provided in SECTION 4.11; PROVIDED, HOWEVER, that any determination as to whether and as of what date Executive has suffered a Permanent Disability are delegated to the Board and any objection by Executive with any such determination shall be limited to whether the Board reached such decision in good faith. (d) Except as expressly provided herein, Executive shall not be entitled to any other severance paymentpayment or benefit. The severance payments provided for herein are Executive’s sole remedy for termination of his employment at the Company.

CONDITIONS FOR SEVERANCE. (a) The severance payment payable to Executive pursuant to SECTION 3.2 shall be in consideration of of, and subject to, Executive’s continuing obligations hereunder after such termination, including Executive’s obligations under ARTICLE 2. (b) As a condition to the receipt of any severance payment, Executive agrees to execute and deliver deliver, by the Release Expiration Date, a mutually acceptable severance and release agreement, including a waiver of all claims except for any claims relating to benefits due under the plans described in SECTION 1.3(b) and any future accrued vested amount which may be payable as a deferred bonus. The severance and release agreement shall be in a form reasonably acceptable to the Board and shall be delivered to the Executive at the time of terminationBoard; provided that such release shall not provide for a release of Executive’s right to indemnification under the Company’s organizational documents, indemnification agreement, if any, or directors and officers insurance against third party claims.. The “RELEASE EXPIRATION DATE” is that date that is 21 days following the date upon which the Company delivers the Release to Executive (which shall occur no later than seven days after the (c) As a condition to the receipt of any severance payment, Executive agrees that any and all claims and any and all causes of action of any kind or character, including all claims and causes of action arising out of Executive’s employment with the Company, the termination of such employment, any claims or demands against the Company based upon Executive’s employment for any monies other than those specified in SECTION 3.2, and the actions by the officers, directors, executives and agents of Company shall be resolved through a dispute resolution process as provided in SECTION 4.11; PROVIDED, HOWEVER, that any determination as to whether and as of what date Executive has suffered a Permanent Disability are delegated to the Board and any objection by Executive with any such determination shall be limited to whether the Board reached such decision in good faith. (d) Except as expressly provided herein, Executive shall not be entitled to any other severance paymentpayment or benefit. The severance payments provided for herein are Executive’s sole remedy for termination of his employment at the Company.

CONDITIONS FOR SEVERANCE. (a) The severance payment payable to Executive Employee pursuant to SECTION Section 3.2 shall be in consideration of Executive’s Employee's continuing obligations hereunder after such termination, including Executive’s Employee's obligations under ARTICLE Article 2. (b) As a condition to the receipt of any severance payment, Executive Employee agrees to execute and deliver a mutually acceptable severance and release agreement, including a waiver of all claims except for any claims relating to benefits due under the plans described in SECTION Section 1.3(b) and any future amount which may be payable as a deferred bonus. The severance and release agreement shall be in a form reasonably acceptable to the Board and shall be delivered to the Executive at the time of terminationBoard; provided that such release shall not provide for a release of Executive’s Employee's right to indemnification under the Company’s 's organizational documents, indemnification agreement, if any, documents or directors and officers insurance against third party claims. If Employee fails to execute and deliver such release, Employee agrees that he shall not be entitled to receive the severance payment described in Section 3.2. (c) As a condition to the receipt of any severance payment, Executive Employee agrees that any and all claims and any and all causes of action of any kind or character, including all claims and causes of action arising out of Executive’s Employee's employment with the Company, the termination of such employment, any claims or demands against the Company based upon Executive’s Employee's employment for any monies other than those specified in SECTION Section 3.2, and the actions by the officers, directors, executives employees and agents of Company shall be resolved through a dispute resolution process as provided in SECTION Section 4.11; PROVIDEDprovided, HOWEVERhowever, that any determination as to whether and as of what date Executive Employee has suffered a Permanent Disability are delegated to the Board and any objection by Executive Employee with any such determination shall be limited to whether the Board reached such decision in good faith. (d) Except as expressly provided herein, Executive Employee shall not be entitled to any other severance payment. The severance payments provided for herein are Executive’s sole remedy for termination of his employment at the Company.

CONDITIONS FOR SEVERANCE. (a) The severance payment payable to Executive Employee pursuant to SECTION Section 3.2 shall be in consideration of Executive’s Employee's continuing obligations hereunder after such termination, including Executive’s Employee's obligations under ARTICLE 2. (b) As a condition to the receipt of any severance payment, Executive Employee agrees to execute and deliver a mutually acceptable severance and release agreement, including a waiver of all claims except for any claims relating to benefits due under the plans described in SECTION 1.3(b1.3(B) and any future amount which may be payable as a deferred bonus. The severance and release agreement shall be in a form reasonably acceptable to the Board and shall be delivered to the Executive at the time of terminationBoard; provided that such release shall not provide for a release of Executive’s Employee's right to indemnification under the Company’s 's organizational documents, indemnification agreement, if any, documents or directors and officers insurance against third party claims. If Employee fails to execute and deliver such release, Employee agrees that he shall not be entitled to receive the severance payment described in SECTION 3.2. (c) As a condition to the receipt of any severance payment, Executive Employee agrees that any and all claims and any and all causes of action of any kind or character, including all claims and causes of action arising out of Executive’s Employee's employment with the Company, the termination of such employment, any claims or demands against the Company based upon Executive’s Employee's employment for any monies other than those specified in SECTION 3.2, and the actions by the officers, directors, executives employees and agents of Company shall be resolved through a dispute resolution process as provided in SECTION 4.11; PROVIDED, HOWEVER, that any determination as to whether and as of what date Executive Employee has suffered a Permanent Disability are delegated to the Board and any objection by Executive Employee with any such determination shall be limited to whether the Board reached such decision in good faith. (d) Except as expressly provided herein, Executive Employee shall not be entitled to any other severance payment. The severance payments provided for herein are Executive’s sole remedy for termination of his employment at the Company.

CONDITIONS FOR SEVERANCE. (a) The severance payment payable to Executive pursuant to SECTION Section 3.2 shall be in consideration of Executive’s 's continuing obligations hereunder after such termination, including Executive’s 's obligations under ARTICLE 2. (b) As a condition to the receipt of any severance payment, Executive agrees to execute and deliver a mutually acceptable reasonable severance and release agreement, including a waiver of all claims except for any claims relating to benefits due under the plans described in SECTION 1.3(b1.3(B) and any future amount which may be payable as a deferred bonus. The severance and release agreement shall be in a form reasonably acceptable to the Board and shall be delivered to the Executive at the time of termination; provided that such release shall not provide for a release of Executive’s 's right to indemnification under the Company’s 's organizational documents, indemnification agreement, if any, documents or directors and officers insurance against third party claims. (c) As a condition to the receipt of any severance payment, Executive agrees that any and all claims and any and all causes of action of any kind or character, including all claims and causes of action arising out of Executive’s 's employment with the Company, the termination of such employment, any claims or demands against the Company based upon Executive’s 's employment for any monies other than those specified in SECTION 3.2, and the actions by the officers, directors, executives Executives and agents of Company shall be resolved through a dispute resolution process as provided in SECTION 4.11; PROVIDED, HOWEVER, that any determination as to whether and as of what date Executive has suffered a Permanent Disability are delegated to the Board and any objection by Executive with any such determination shall be limited to whether the Board reached such decision in good faith. (d) Except as expressly provided herein, Executive shall not be entitled to any other severance payment. The severance payments provided for herein are Executive’s sole remedy for termination of his employment at the Company.

CONDITIONS FOR SEVERANCE. (a) The severance payment payable to Executive Employee pursuant to SECTION Section 3.2 shall be in consideration of Executive’s Employee's continuing obligations hereunder after such termination, including Executive’s Employee's obligations under ARTICLE Article 2. (b) As a condition to the receipt of any severance payment, Executive Employee agrees to execute and deliver a mutually acceptable severance and release agreement, including a waiver of all claims except for any claims relating to benefits due under the plans described in SECTION 1.3(bSection 2.0( ) and any future amount which may be payable as a deferred bonus. The severance and release agreement shall be in a form reasonably acceptable to the Board and shall be delivered to the Executive at the time of terminationBoard; provided that such release shall not provide for a release of Executive’s Employee's right to indemnification under the Company’s 's organizational documents, indemnification agreement, if any, documents or directors and officers insurance against third party claims. If Employee fails to execute and deliver such release, Employee agrees that he shall not be entitled to receive the severance payment described in Section 3.2. (c) As a condition to the receipt of any severance payment, Executive Employee agrees that any and all claims and any and all causes of action of any kind or character, including all claims and causes of action arising out of Executive’s Employee's employment with the Company, the termination of such employment, any claims or demands against the Company based upon Executive’s Employee's employment for any monies other than those specified in SECTION Section 3.2, and the actions by the officers, directors, executives employees and agents of Company shall be resolved through a dispute resolution process as provided in SECTION Section 4.11; PROVIDEDprovided, HOWEVERhowever, that any determination as to whether and as of what date Executive Employee has suffered a Permanent Disability are delegated to the Board and any objection by Executive Employee with any such determination shall be limited to whether the Board reached such decision in good faith. (d) Except as expressly provided herein, Executive Employee shall not be entitled to any other severance payment. The severance payments provided for herein are Executive’s sole remedy for termination of his employment at the Company.