Involuntary Termination other than for Cause. Death or Disability Prior to a Change of Control or after Twelve Months Following a Change of Control. If, prior to a Change of Control or after twelve (12) months following a Change of Control, the Company (or any parent or subsidiary of the Company employing Employee) terminates Employee’s employment with the Company (or any parent or subsidiary of the Company) without Employee’s consent and for a reason other than (x) Cause, (y) Employee becoming Disabled or (z) Employee’s death, (any such termination, an “Involuntary Termination”) and Employee signs, delivers and does not revoke a separation agreement and release of claims in a form satisfactory to the Company (the “Release”) within the time period required by the Release (but in no event later than two and one-half (2½) months following the end of the calendar year in which the Involuntary Termination occurs), then following such termination of employment, or, if later, the effective date of the Release, Employee will receive the following payments and other benefits from the Company:
Appears in 6 contracts
Samples: Severance Agreement (Giga Tronics Inc), Severance Agreement (Giga Tronics Inc), Severance Agreement (Giga Tronics Inc)
Involuntary Termination other than for Cause. Death or Disability Prior to a Change of Control or after Twelve Months Following a Change of Control. If, prior to a Change of Control or after twelve (12) months following a Change of Control, the Company (or any parent or subsidiary of the Company employing Employee) terminates Employee’s employment with the Company (or any parent or subsidiary of the Company) without Employee’s consent and for a reason other than (x) Cause, (y) Employee becoming Disabled or (z) Employee’s death, (any such termination, an “Involuntary Termination”) and Employee signs, delivers and does not revoke a separation agreement and release of claims in a form reasonably satisfactory to the Company (the “Release”) and such Release become irrevocable (the date when Release becomes irrevocable, “Release Date”) within the time period required by the 60 days following termination date (“Release (but in no event later than two and one-half (2½) months following the end of the calendar year in which the Involuntary Termination occursPeriod”), then following such termination of employment, or, if later, the effective date of the Release, Employee will receive the following payments and other benefits from the Company:
Appears in 2 contracts
Samples: Severance Agreement (Giga Tronics Inc), Severance Agreement (Giga Tronics Inc)