Common use of SECOND TERMINATION PAYMENT AND BENEFITS Clause in Contracts

SECOND TERMINATION PAYMENT AND BENEFITS. Provided that Executive does not resign from employment with Cadence and Cadence does not terminate Executive's employment with Cadence due to a breach by Executive of Executive's duties under this Agreement, upon the Termination Date, and in consideration for Executive's acceptance of this Agreement and Executive's further execution of a Release of Claims in the form of Attachment 2 to this Agreement, Cadence will provide to Executive within ten business days after the expiration of the revocation period of the Release of Claims (as defined in that document) the following termination payment to which Executive would not otherwise be entitled:

Appears in 2 contracts

Samples: Indemnity Agreement (Cadence Design Systems Inc), Indemnity Agreement (Cadence Design Systems Inc)

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SECOND TERMINATION PAYMENT AND BENEFITS. Provided that Executive does not resign from employment with Cadence and Cadence Cxxxxxx does not terminate Executive's employment with Cadence due to a breach by Executive of Executive's duties under this Agreement, upon the Termination Date, and in consideration for Executive's acceptance of this Agreement and Executive's further execution of a Release of Claims in the form of Attachment 2 to this Agreement, Cadence will provide to Executive within ten business days after the expiration of the revocation period of the Release of Claims (as defined in that document) the following termination payment to which Executive would not otherwise be entitled:

Appears in 1 contract

Samples: Indemnity Agreement (Cadence Design Systems Inc)

SECOND TERMINATION PAYMENT AND BENEFITS. Provided that Executive does not resign from employment with Cadence and Cadence does not terminate Executive's ’s employment with Cadence due to a breach by Executive of Executive's ’s duties under this Agreement, upon the Termination Date, and in consideration for Executive's ’s acceptance of this Agreement and Executive's ’s further execution of a Release of Claims in the form of Attachment 2 to this Agreement, Cadence will provide to Executive within ten business days after the expiration of the revocation period of the Release of Claims (as defined in that document) the following termination payment payment, to which Executive would not otherwise be entitled:: • a lump-sum payment of one year’s target bonus, or $400,000.00, less applicable tax deductions and withholdings provided.

Appears in 1 contract

Samples: Executive Release and Transition Agreement (Cadence Design Systems Inc)

SECOND TERMINATION PAYMENT AND BENEFITS. Provided that Executive does not resign from employment with Cadence and Cadence does not terminate Executive's ’s employment with Cadence due to a breach by Executive of Executive's ’s duties under this Agreement, upon the Termination Date, and in consideration for Executive's ’s acceptance of this Agreement and Executive's ’s further execution of a Release of Claims in the form of Attachment 2 to this Agreement, Cadence will provide to Executive within ten business days after the expiration of the revocation period of the Release of Claims (as defined in that document) the following termination payment payment, to which Executive would not otherwise be entitled:

Appears in 1 contract

Samples: Indemnity Agreement (Cadence Design Systems Inc)

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SECOND TERMINATION PAYMENT AND BENEFITS. Provided that Executive does not resign from employment with Cadence and Cadence does not terminate Executive's employment with Cadence due to a breach by Executive of Executive's duties under this Agreement, upon the Termination Date, and in consideration for Executive's acceptance of this Agreement and Executive's further execution of a Release of Claims in the form of Attachment 2 1 to this Agreement, Cadence will provide to Executive within ten business days after the expiration of the revocation period of the Release of Claims (as defined in that document) the following termination payment to which Executive would not otherwise be entitled:

Appears in 1 contract

Samples: Executive Transition and Release Agreement (Cadence Design Systems Inc)

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