OPTIONAL SEVERANCE PAYMENT. Executive upon the event of the Corporation's obligation to pay severance, may in Executive's sole discretion and option elect to accept a number of shares of registered stock of the Corporation determined by dividing the severance amount due by $1.00 which number of shares when delivered shall be in full payment and satisfaction of the Corporation's obligation to Executive.
Appears in 5 contracts
Samples: Employment Agreement (Airtech International Group Inc), Employment Agreement (Humitech International Group Inc), Employment Agreement (Humitech International Group Inc)
OPTIONAL SEVERANCE PAYMENT. Executive upon the event of the Corporation's obligation to pay severanceseverence, may in Executive's sole discretion and option elect to accept a number of shares of registered stock of the Corporation determined by dividing the severance amount due by $1.00 which number of shares when delivered shall be in full payment and satisfaction of the Corporation's obligation to Executive.
Appears in 1 contract
Samples: Employment Agreement (Airtech International Group Inc)
