Common use of Form and Timing of Severance Benefits Clause in Contracts

Form and Timing of Severance Benefits. The Severance Benefits described in Sections 3.3(a) and (b) will be paid in cash to the Executive in a single lump sum as soon as practicable following the Effective Date of Termination, but in no event more than thirty days after the Effective Date of Termination. The vesting of benefits under Section 3.3(c) shall occur on the Effective Date of Termination. The Severance Benefits described in subsection 3.3(d) will be provided by the Company to the Executive immediately upon the Effective Date of Termination and will continue to be provided until the second anniversary of the Effective Date of Termination. However, the Severance Benefits described in subsection 3.3(d) will be discontinued prior to the end of the two-year period immediately upon the Executive's receiving similar benefits from a subsequent employer, as determined by the Compensation Committee.

Appears in 5 contracts

Samples: Change in Control Severance Agreement (Mb Financial Inc /Md), Change in Control Severance Agreement (Mb Financial Inc /Md), Change in Control Severance Agreement (Mb Financial Inc /Md)

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Form and Timing of Severance Benefits. The Subject to Article XI below, the Severance Benefits described in Sections 3.3(a) and (b) will be paid in cash to the Executive in a single lump sum as soon as practicable following the Effective Date of Termination, but in no event more than thirty days after the Effective Date of Termination. The vesting of benefits under Section 3.3(c) shall occur on the Effective Date of Termination. The Severance Benefits described in subsection Section 3.3(d) will be provided by the Company to the Executive immediately upon the Effective Date of Termination and will continue to be provided until the second anniversary of the Effective Date of Termination. However, the Severance Benefits described in subsection Section 3.3(d) will be discontinued prior to the end of the two-year period immediately upon the Executive's ’s receiving similar benefits from a subsequent employer, as determined by the Compensation Committee.

Appears in 4 contracts

Samples: Change in Control Severance Agreement (Plymouth Industrial REIT, Inc.), Change in Control Severance Agreement (Plymouth Industrial REIT Inc.), Change in Control Severance Agreement (Plymouth Industrial REIT Inc.)

Form and Timing of Severance Benefits. The Subject to Article XII below, the Severance Benefits described in Sections 3.3(a) and (b) will be paid in cash to the Executive in a single lump sum as soon as practicable following the Effective Date of Termination, but in no event more than thirty days after the Effective Date of Termination. The vesting of benefits under Section 3.3(c) shall occur on the Effective Date of Termination. The Severance Benefits described in subsection 3.3(d) will be provided by the Company to the Executive immediately upon the Effective Date of Termination and will continue to be provided until the second anniversary of the Effective Date of Termination. However, the Severance Benefits described in subsection 3.3(d) will be discontinued prior to the end of the two-year period immediately upon the Executive's ’s receiving similar benefits from a subsequent employer, as determined by the Compensation Committee.

Appears in 4 contracts

Samples: Change in Control Severance Agreement (Mb Financial Inc /Md), Change in Control Severance Agreement (Mb Financial Inc /Md), Change in Control Severance Agreement (Mb Financial Inc /Md)

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Form and Timing of Severance Benefits. The Severance Benefits described in Sections 3.3(a), (b) and (bc) will be paid in cash to the Executive in a single lump sum as soon as practicable following the Effective Date of Termination, but in no event more than thirty days after the Effective Date of Termination. The vesting of benefits under Section 3.3(c) shall occur on the Effective Date of Termination. The Severance Benefits described in subsection 3.3(d) will be provided by the Company to the Executive immediately upon the Effective Date of Termination and will continue to be provided until the second first anniversary of the Effective Date of Termination. However, the Severance Benefits described in subsection 3.3(d) will be discontinued prior to the end of the twoone-year period immediately upon the Executive's ’s receiving similar benefits from a subsequent employer, as determined by the Compensation Committee.

Appears in 1 contract

Samples: Change in Control Severance Agreement (Mb Financial Inc /Md)

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