Common use of Entitlement to Severance Pay and Benefits Clause in Contracts

Entitlement to Severance Pay and Benefits. The employee shall be entitled to receive the severance pay described in Section 7 (the "Severance Pay") and the benefits described in Section 8 from the Company if, and only if, one of the following events occurs (each a "Termination Event"): a) Within the first 12-month period after the occurrence of a Change in Control, the Employee voluntarily resigns his employment for Good Reason; or b) Within the first 12-month period after the occurrence of a Change in Control, the Company terminates the Employee's employment for any reason other than Cause.

Appears in 3 contracts

Samples: Severance Agreement (Essential Therapeutics Inc), Severance Agreement (Essential Therapeutics Inc), Severance Agreement (Essential Therapeutics Inc)

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Entitlement to Severance Pay and Benefits. The employee Employee shall be entitled to receive the severance pay described in Section 7 (the "Severance Pay") and the benefits described in Section 8 from the Company if, and only if, one of the following events occurs (each a "Termination Event"): (a) Within the first 12-month period after the occurrence of a Change in Control, the Employee voluntarily resigns his employment for Good Reason; or or (b) Within the first 12-month period after the occurrence of a Change in Control, the Company terminates the Employee's employment for any reason other than Cause.

Appears in 1 contract

Samples: Severance Agreement (Microcide Pharmaceuticals Inc)

Entitlement to Severance Pay and Benefits. The employee Employee shall be entitled to receive the severance pay described in Section 7 (the "Severance Pay") and the benefits described in Section 8 from the ------------- Company if, and only if, one of the following events occurs (each a "Termination ----------- Event"):): ----- (a) Within the first 12-12 month period after the occurrence of a Change in Control, the Employee voluntarily resigns his employment for Good Reason; or or (b) Within the first 12-12 month period after the occurrence of a Change in Control, the Company terminates the Employee's employment for any reason other than Cause.

Appears in 1 contract

Samples: Severance Agreement (Essential Therapeutics Inc)

Entitlement to Severance Pay and Benefits. The employee Employee shall be entitled to receive the severance pay described in Section 7 (the "Severance Pay") and the benefits described in Section 8 from the --------- --- Company if, and only if, one of the following events occurs (each a "Termination ----------- Event"):): ----- (a) Within the first 12-12 month period after the occurrence of a Change in Control, the Employee voluntarily resigns his employment for Good Reason; or or (b) Within the first 12-12 month period after the occurrence of a Change in Control, the Company terminates the Employee's employment for any reason other than Cause.

Appears in 1 contract

Samples: Severance Agreement (Essential Therapeutics Inc)

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Entitlement to Severance Pay and Benefits. The employee Employee shall be entitled to receive the severance pay described in Section 7 (the "Severance Pay") and the benefits described in Section 8 from the ------------- Company if, and only if, one of the following events occurs (each a "Termination Event"): (a) Within the first 12-month period after the occurrence of a Change in Control, the Employee voluntarily resigns his employment for Good Reason; or or (b) Within the first 12-month period after the occurrence of a Change in Control, the Company terminates the Employee's employment for any reason other than Cause.

Appears in 1 contract

Samples: Severance Agreement (Microcide Pharmaceuticals Inc)

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