Common use of Release Severance Clause in Contracts

Release Severance. Executive may elect to receive the following severance benefits upon agreeing to a general release of all claims known and unknown: The Company shall pay Executive: (i) a lump sum equal to twelve month’s base salary of the Executive; (ii) any and all accrued but unpaid bonuses and (iii) any and all target bonuses for the twelve month period following such termination of employment, in all such cases within 30 days from the effective date of the termination (the “Release Severance”). .

Release Severance. Executive may elect to receive the following severance benefits upon agreeing to a general release of all claims known and unknown: The Company shall pay Executive: (i) a lump sum equal to twelve month’s base salary of the Executive; (ii) any and all accrued but unpaid bonuses and (iii) any and all target bonuses for the twelve month period following such termination of employment, in all such cases within 30 days from the effective date of the termination (the “Release Severance”). .