Common use of Entitlement to Severance Benefit Clause in Contracts

Entitlement to Severance Benefit. If the provisions of Paragraph 6.4 of this Agreement apply, and provided that Employee executes and does not revoke a general release of any employment-related claims in Employer’s favor in a form acceptable to Employer within the time period specified therein, but in no event later than sixty (60) days after termination of employment (collectively, the “Conditions to Severance”), then, in addition to any other benefits payable under this Agreement, Employer shall provide to Employee the severance benefits set forth in Paragraph B below. No such severance benefits shall be payable under this Agreement for Employee’s termination of employment for any other reason, including, but not limited to, Employee’s voluntary termination of employment (for other than Good Reason) or Employer’s termination of Employee’s employment for Reasonable Cause, death or incapacitating disability. A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits that constitute “nonqualified deferred compensation” within the meaning of Section 409A (as defined below) upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Section 409A.