Payment of Severance. Unless otherwise set forth herein, any Severance Benefits owed to Executive pursuant to Section 5 hereof shall be paid out monthly by the Company for a minimum of one (1) year after the Termination Date and, subject to delivery of a Severance Notice pursuant to this Section 5.6, during the entire Restricted Period (as defined below) commencing on the sixtieth (60th) day following the Termination Date and in accordance with the Company’s standard payroll schedule and practices; provided, however, that Severance Benefits owed to Executive shall immediately cease and no Severance Benefits shall be paid by the Company to Executive if at any time after the first anniversary of the Termination Date, the Company provides written notice (such notice, the “Severance Notice”) to Executive stating (a) the obligations and restrictions set forth in Section 6.1 of this Agreement no longer apply to Executive and (b) the final end date of the Restricted Period. Executive acknowledges and agrees that no Severance Benefits will be paid by the Company to Executive following delivery of a Severance Notice to Executive.
Appears in 6 contracts
Samples: Employment Agreement (Oak Street Health, Inc.), Employment Agreement (Oak Street Health, Inc.), Employment Agreement (Oak Street Health, Inc.)
