Common use of ERISA Severance Plan Benefits Clause in Contracts

ERISA Severance Plan Benefits. Executive shall be eligible to participate in the Company’s Severance Plan; benefits available under that Severance Plan are contingent on Executive’s continued eligibility for that plan as well as actions required to be taken by Executive in order to be considered a “Participant” in that Severance Plan. Company acknowledges and agrees that, as of the Effective Date, Executive has taken all actions to be considered a “Participant” in the Severance Plan and, accordingly, will remain a “Participant” during the Term. Any amounts or benefits payable under the Severance Plan shall be governed by the terms and conditions of that plan, and shall not be governed by this Agreement.

ERISA Severance Plan Benefits. Executive shall be eligible to participate in the Company’s Severance Plan; benefits available under that Severance Plan are contingent on Executive’s continued eligibility for that plan as well as actions required to be taken by Executive in order to be considered a “Participant” in that Severance Plan. Company acknowledges and agrees that, as of the Effective Date, Executive has taken all actions to be considered a “Participant” in the Severance Plan and, accordingly, will remain a “Participant” during the Term. Any amounts or benefits payable under the Severance Plan shall be governed by the terms and conditions of that plan, plan and shall not be governed by this Agreement.