Common use of Severance Benefits Following a Change of Control Clause in Contracts

Severance Benefits Following a Change of Control. In the event that, within twenty four (24) months following a Change of Control, Employee’s employment is terminated without Cause or as a result of death or Disability, or Employee resigns for Good Reason, then, in addition to the payments described in Section 10(a), Employee shall be entitled to receive the Severance Benefits; provided, that the Severance Pay Period shall be twelve (12) months instead of six (6) months.

Appears in 3 contracts

Samples: Employment Agreement (Targanta Therapeutics Corp.), Employment Agreement (Targanta Therapeutics Corp.), Employment Agreement (Targanta Therapeutics Corp.)

AutoNDA by SimpleDocs

Severance Benefits Following a Change of Control. In the event that, within twenty four (24) months following a Change of Control, Employee’s employment is terminated without Cause or as a result of death or Disability, or Employee resigns for Good Reason, then, in addition to the payments described in Section 10(a), Employee shall be entitled to receive the Severance Benefits; provided, that the Severance Pay Period shall be twelve (12) months instead of six (6) months.

Appears in 1 contract

Samples: Employment Agreement (Targanta Therapeutics Corp.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!