Separation Payments. Provided that You satisfy the conditions of this Agreement, including the return of all Company property, and do not revoke this Agreement, the Company shall pay [DESCRIBE APPLICABLE BENEFITS] in accordance with Section [__] of the Employment Agreement, which together with Sections [15(c), 16, and 17] of the Employment Agreement, are incorporated herein (the “Separation Payments”). Notwithstanding the foregoing, in the event of a material, uncured breach of this Agreement, You acknowledge and agree that: (a) the Company shall have the right, upon five (5) days’ notice to You, to file a lawsuit against You to recover ninety-five percent (95%) of the Separation Payments, as such amount is not deemed earned absent Your compliance with this Agreement; and (b) the remaining five percent (5%) of the Separation Payments shall constitute full and complete consideration sufficient to support enforcement of this Agreement against You, including, but not limited to, enforcement of Your release of claims set forth below.
Appears in 6 contracts
Samples: Employment Agreement (Shift Technologies, Inc.), Employment Agreement (Shift Technologies, Inc.), Employment Agreement (Insurance Acquisition Corp.)
