Common use of Conditions to Severance Pay Clause in Contracts

Conditions to Severance Pay. To be eligible for Severance Pay, you must meet the following conditions: (i) You must promptly sign and continue to honor a general release, in a form acceptable to the Company, of any and all claims that you might otherwise have relating to the termination of your employment, or relating to any other act, omission or statement up to the date on which you execute the general release, against the Company, the Company’s Affiliates (defined as other entities controlling, controlled by, or under common control with the Company), and the officers, directors, employees, owners, and agents of the Company and each Affiliate, provided that the release will not waive your right to the Severance Pay, your Vested Rights (as defined above), or any rights you may otherwise have to indemnification under the Company’s Articles of Incorporation or Bylaws for acts or omissions during your employment with the Company. (ii) You must resign (upon written request by Company) from all positions with or representing the Company or any Affiliate, including but not limited to membership on boards of directors. (iii) You must provide the Company for a period of 90 days after the employment termination date with consulting services regarding matters within the scope of your former duties, upon request by the Company’s President & CEO, provided that you will only be required to provide those services by telephone at your reasonable convenience and without substantial interference with your other activities or commitments. (iv) To maintain continuing eligibility for Severance Pay, you must comply with the Covenant Not to Compete and all other provisions of Section 9 below.

Conditions to Severance Pay. To be eligible for Severance Pay, you Executive must meet the following conditions: : (i) You Executive must comply with Executive's obligations under this Agreement that continue after termination of the Employment; (ii) Executive must not claim unemployment compensation for any week for which Executive receives salary continuation under Section 6(a)(i) above; (iii) Executive must promptly sign and continue to honor a general release, in a form acceptable to the Company, of any and all claims arising out of or relating to Executive's Employment or its termination and that you Executive might otherwise have relating to the termination of your employment, or relating to any other act, omission or statement up to the date on which you execute the general release, against the Company, the Company’s Affiliates (defined as other entities controlling's Affiliates, controlled by, or under common control with the Company), and the any of their officers, directors, employees, owners, employees and agents of the Company and each Affiliateagents, provided that the release will not waive your Executive's right to the Severance Pay, your Vested Rights (as defined above)any payments due under this Section or Section 5, or any rights you may otherwise have right of Executive to liability insurance coverage under any liability insurance policy or to indemnification under the Company’s 's Articles of Incorporation or Bylaws for acts or omissions during your employment with the Company. any written indemnification agreement; (iiiv) You Executive must reaffirm in writing upon request by Company Executive's obligations under Sections 7, 8 and 9 of this Agreement; (v) Executive must resign (upon written request by Company) Company from all positions with or representing the Company or any Affiliate, including but not limited limited, to membership on boards of directors. , and (iiivi) You Executive must provide the Company for a period of 90 ninety (90) days after the employment Employment termination date with consulting services regarding matters within the scope of your Executive's former dutiesduties upon request; provided, upon request by the Company’s President & CEOhowever, provided that you Executive will only be required to provide those services by telephone at your Executive's reasonable convenience and without substantial interference with your Executive's other activities or commitments. (iv) To maintain continuing eligibility for Severance Pay, you must comply with the Covenant Not to Compete and all other provisions of Section 9 below.

Conditions to Severance Pay. To be eligible for Severance Pay, you Executive must meet the following conditions: : (i) You Executive must comply with Executive’s obligations under this Agreement that continue after termination of the Employment; (ii) Executive must not claim unemployment compensation for any week for which Executive receives payment under Section 6(a)(i) above; (iii) Executive must promptly sign and continue to honor a general release, in a form acceptable to the Company, of any and all claims arising out of or relating to Executive’s Employment or its termination and that you Executive might otherwise have relating to the termination of your employment, or relating to any other act, omission or statement up to the date on which you execute the general release, against the Company, the Company’s Affiliates (defined as other entities controlling, controlled byAffiliates, or under common control with the Company), and the any of their officers, directors, employees, owners, employees and agents of the Company and each Affiliateagents, provided that the release will not waive your Executive’s right to the Severance Pay, your Vested Rights (as defined above)any payments due under this Section or Section 5, or any rights you may otherwise have right of Executive to liability insurance coverage under any liability insurance policy or to indemnification under the Company’s Articles of Incorporation or Bylaws for acts or omissions during your employment with the Company. any written indemnification agreement; (iiiv) You Executive must reaffirm in writing upon request by Company Executive’s obligations under Sections 7, 8 and 9 of this Agreement; (v) Executive must resign (upon written request by Company) Company from all positions with or representing the Company or any Affiliate, including but not limited to membership on boards of directors. ; and (iiivi) You Executive must provide the Company for a period of 90 ninety (90) days after the employment Employment termination date with consulting services regarding matters within the scope of your Executive’s former duties, upon request by the Company’s President & CEO, provided that you Chief Executive Officer; Executive will only be required to provide those services by telephone at your Executive’s reasonable convenience and without substantial interference with your Executive’s other activities or commitments. (iv) To maintain continuing eligibility for Severance Pay, you must comply with the Covenant Not to Compete and all other provisions of Section 9 below.

Conditions to Severance Pay. To In order to be eligible for the Severance Pay, you Employee must meet the following conditions: (i) You i. Employee must comply with Employee's obligations under Paragraphs 8, 9 and 10 of this Agreement; ii. Employee must not claim unemployment compensation for any week for which Employee receives Severance Pay; iii. Employee must promptly sign and continue to honor a general release, in a form acceptable to the Company, of any and all claims that you might otherwise have relating to the termination of your employment, or relating to any other act, omission or statement up to the date on which you execute the general release, against the Company, the Company’s Affiliates its affiliates (defined for purposes of this Agreement as subsidiaries and other entities controlling, controlled by, or under common control with in which the CompanyCompany has an ownership interest), and the all of their officers, directors, employeesemployees and agents, owners, and agents of to the Company and each Affiliate, provided extent that the such claims relate in any way to Employee's Employment or its termination. The release will not waive your the Employee's right to the Severance Pay, your Vested Rights (as defined above)any payments due under this Paragraph 6, or Employee's rights to any rights you may otherwise have vested benefits accrued prior to indemnification the date of Employment termination under the Company’s Articles terms of Incorporation or Bylaws for acts or omissions during your employment with the Company.any written benefit plan; (ii) You iv. Employee must resign (resign, upon written request by Company) , from all positions with or representing the Company or any Affiliate, including but not limited to membership on boards of directors.; and (iii) You v. Employee must provide Company during the Company for a period term of 90 days after the employment termination date this Agreement with consulting services regarding matters within the scope of your Employee's former duties, upon request by the Company’s President & CEOBoard of Directors, provided that you Employee will only be required to provide those such services by telephone at your Employee's reasonable convenience convenience, and without substantial interference with your other activities or commitmentsnot for more than five (5) hours in any month. (iv) To maintain continuing eligibility for Severance Pay, you must comply with the Covenant Not to Compete and all other provisions of Section 9 below.