Separation and Payment. The Executive performed his duties in accordance with the Employment Agreement through [_______]. The Executive’s Date of Termination (as such term is defined in Section 10(e) of the Employment Agreement) is [_______]. The Executive shall be entitled to the compensation and benefits set forth in Section 11 of the Employment Agreement, subject to compliance with the terms of the Employment Agreement and this Release. Other than the payments referred to in Section 11 of the Employment Agreement, the Executive has been paid all compensation due and owing to him under this Release and under any employment or other contract the Executive has or may have had with the Company (including but not limited to the Employment Agreement) or from any other source of entitlement, including all wages, salary, bonuses, incentive payments, profit-sharing payments, leave, severance pay or other benefits.
Separation and Payment. (a) I performed my regular duties with the University through October 26, 2012 and will be paid my base salary through Friday, January 4, 2013 (the "Separation Date"), on which date my employment with the University ended. The Parties agree that my separation shall be treated as a resignation. After October 26, 2012, I will not be obligated to perform any day-to-day services other than those identified in Section 6: Transition Assistance. There will be no restrictions on my consulting to other organizations following October 26, 2012 through June 30, 2013.
(b) I shall be paid at my current base salary rate through January 4, 2013. I shall be paid my 4th Quarter, 2012 additional compensation in the 1St Quarter of 2013. I am not eligible for and shall not receive any other 2012 year end compensation.
(c) As consideration for my entering into this Agreement, the University agrees to enter into a separate consulting agreement, to be mutually agreed upon by the Parties, whereby I will be engaged to provide certain consulting services, and which, among other terms and conditions, shall (i) have a term from January 1, 2013 through June 30, 2013, and (ii) provide for payment of a monthly retainer fee of $28,000.00 per month for the six months ending June 30, 2013. The first payment (January) will be advanced and paid in December 2012.
(d) As of the Separation Date, I shall not be eligible and am not eligible to participate in the University vacation, sick, Flexible Spending Account (FSA), retirement, life insurance and disability insurance benefits plans. My health, dental and vision insurance coverage (if applicable) will continue through the last day of the separation month, except to any extent provided by applicable law.
(e) Once all of the payments referred to in this paragraph 1 of this Agreement have been made, I shall have been paid all compensation due and owing to me under this Agreement and under any contract I have or may have had with the University or from any other source of entitlement, including all wages, salary, commissions, bonuses, incentive payments, profit-sharing payments, leave, severance pay or other benefits. I further acknowledge and agree that the payments referred to in this paragraph 1, in addition to compensating me fully for time worked and services rendered through the end of my employment, include consideration for my promises contained in this Agreement, and that such consideration is above and beyond any wages, salary, or other...
Separation and Payment. (a) The Executive performed his regular duties with the Company through May 22, 2012 (the “Separation Date”), on which date his employment with the Company voluntarily ended.
(b) The Executive shall receive twenty-four (24) twice-monthly payments of $19,775.00, payable to him by the Company, in accordance with the Company’s regular payroll procedures.
(c) If the Executive timely and properly elects continuation coverage under the Consolidated Omnibus Reconciliation Act of 1985 (“COBRA”), the Company shall reimburse the Executive for the difference between the monthly COBRA premium paid by the Executive for himself and his dependents and the monthly premium amount paid by similarly situated active executives. The Executive shall be eligible to receive such reimbursement until the earliest of: (i) the twelve-month anniversary of the Separation Date, and (ii) the date on which the Executive becomes eligible to receive substantially similar coverage from another employer.
(d) Except for compensation due and owing to the Executive through the Separation Date and the Executive’s accrued but unused vacation time, the Executive has been paid all compensation due and owing to him under any employment or other contract the Executive has or may have had with the Company or from any other source of entitlement, including all wages, salary, bonuses, incentive payments, profit-sharing payments, leave, severance pay or other benefits. The Executive further acknowledges and agrees that the payments referred to in this paragraph 1, in addition to compensating him fully for time worked and services rendered through the end of his employment, include consideration for his promises contained in this Agreement, and that such consideration is above and beyond any wages, salary, accrued but unused vacation, or other sums to which the Executive is entitled from the Company under any other contract or law in the absence of this Agreement. The Executive further acknowledges that, notwithstanding anything contained in this Agreement, any and all agreements between the Executive and the Company granting the Executive stock options prior to the Separation Date shall terminate pursuant to their terms.
Separation and Payment. (a) The Executive performed her regular duties with the Company through _______, 20___ (the “Separation Date”), on which date her employment with the Company ended.
(b) The Executive shall be entitled to the compensation and benefits set forth in Section 5 of her ● , 2012 Employment Agreement (the “Employment Agreement”), subject to compliance with the terms of the Employment Agreement and this Agreement.
Separation and Payment. (a) The Executive performed his regular duties with the Company through July 30, 2012 (the “Separation Date”), on which date his employment with the Company ended.
(b) The Executive shall be entitled to the compensation and benefits set forth in Section 5 of his July 30, 2012 Employment Agreement (the “Employment Agreement”), subject to compliance with the terms of the Employment Agreement and this Agreement.
(d) Other than payments referred to in Section 5 of the Employment Agreement, the Executive has been paid all compensation due and owing to him under the Employment Agreement and under any employment or other contract the Executive has or may have had with the Company or from any other source of entitlement, including all wages, salary, bonuses, incentive payments, profit-sharing payments, leave, and other benefits. The Executive further acknowledges and agrees that the payments referred to in this paragraph 1, in addition to compensating his fully for time worked and services rendered through the end of his employment, include consideration for his promises contained in this Agreement, and that such consideration is above and beyond any wages, salary, accrued but unused vacation, or other sums to which the Executive is entitled from the Company under the terms of his Employment Agreement or under any other contract or law in the absence of this Agreement.
Separation and Payment
