Common use of Conditions to Receipt of Severance Benefits Clause in Contracts

Conditions to Receipt of Severance Benefits. The receipt of the severance benefits set forth herein will be subject to Executive (or a representative from Executive’s estate in the event of Executive’s death) signing and not revoking a separation agreement and release of claims in a form satisfactory to the Company (the “Separation Agreement”) within a time period specified by the Company. No severance benefits will be paid or provided until the Separation Agreement becomes effective. Executive shall also resign from all positions and terminate any relationships as an employee, advisor, officer or director with the Company and any of its subsidiaries and/or affiliates, each effective on the date of termination.

Appears in 5 contracts

Samples: Employment Agreement (DigitalOcean Holdings, Inc.), Employment Agreement (DigitalOcean Holdings, Inc.), Employment Agreement (DigitalOcean Holdings, Inc.)

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Conditions to Receipt of Severance Benefits. The receipt of the severance benefits set forth herein will in Section 6.2 and Section 6.3 above shall be subject to Executive (or a representative from Executive’s estate in the event of Executive’s death) signing and not revoking a separation agreement and release of claims in a form reasonably satisfactory to the Company and Executive (the “Separation Agreement”) within a time period specified by no later than 60 days following the Companydate of termination. No severance benefits will be paid or provided unless and until the Separation Agreement becomes effectiveeffective and non-revocable. Executive shall also resign from all positions and terminate any relationships as an employee, advisor, officer or director with the Company and any of its subsidiaries and/or affiliates, each effective on the date of termination.

Appears in 3 contracts

Samples: Executive Employment Agreement (Neoleukin Therapeutics, Inc.), Executive Employment Agreement (Neoleukin Therapeutics, Inc.), Executive Employment Agreement (Neoleukin Therapeutics, Inc.)

Conditions to Receipt of Severance Benefits. The receipt of the severance benefits set forth herein will be subject to Executive (or a representative from Executive’s estate in the event of Executive’s death) signing and not revoking a separation agreement and release of claims in a form satisfactory to the Company (the “Separation Agreement”) within a time period specified by the Company. No severance benefits will be paid or provided until the Separation Agreement becomes effective. Executive shall also resign from all positions and terminate any relationships as an employee, advisor, officer or director with the Company and any of its subsidiaries and/or affiliatesGroup, each effective on the date of termination.

Appears in 2 contracts

Samples: Employment Agreement (DigitalOcean Holdings, Inc.), Employment Agreement (DigitalOcean Holdings, Inc.)

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Conditions to Receipt of Severance Benefits. The receipt of the severance benefits set forth herein will in Sections 6.2 and 6.3 above shall be subject to Executive (or a representative from Executive’s estate in the event of Executive’s death) signing and not revoking a separation agreement and release of claims in a form reasonably satisfactory to the Company and Executive (the “Separation Agreement”) within a time period specified by no later than 60 days following the Companydate of termination. No severance benefits will be paid or provided unless and until the Separation Agreement becomes effectiveeffective and non- revocable. Executive shall also resign from all positions and terminate any relationships as an employee, advisor, officer or director with the Company and any of its subsidiaries and/or affiliates, each effective on the date of termination.

Appears in 1 contract

Samples: Executive Employment Agreement (Neoleukin Therapeutics, Inc.)

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