Common use of Entitlement to Severance Clause in Contracts

Entitlement to Severance. Subject to the other terms and conditions of this Agreement, Executive shall be entitled to the Accrued Benefits, and to the severance benefits described in Section 5(c), in either of the following circumstances while this Agreement is in effect: (i) Executive’s employment is terminated by Xxxxxxx without Cause, except in the case of death or Disability; or (ii) Executive terminates his or her employment with the Company for Good Reason. For the avoidance of doubt, if Executive dies or becomes Disabled after receiving a notice by Xxxxxxx that Executive is being terminated without Cause, or after providing notice of termination for Good Reason, then Executive’s estate, heirs and beneficiaries, in the case of the Executive’s death, or Executive or his or her personal representative, in the case of Executive’s Disability, shall be entitled to the Accrued Benefits and the severance benefits described in Section 5(c) at the same time such amounts would have been paid or benefits provided to Executive had he or she lived or not become Disabled.

Appears in 4 contracts

Samples: Executive Employment and Severance Agreement (Whiting Petroleum Corp), Executive Employment and Severance Agreement (Whiting Petroleum Corp), Executive Employment and Severance Agreement (Whiting Petroleum Corp)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!