Severance Benefits in Certain Events Clause Samples

Severance Benefits in Certain Events. If at the effective time of a “Change in Control Event” (as defined above) or any time within twelve (12) months immediately following a Change in Control Event, (i) the Employer terminates Employee’s employment without “Cause” (as defined above) or, (ii) the Employee terminates employment for “Good Reason” (as defined below), then in the event of either (i) or (ii), and subject to each of the following: (x) the limitations set forth herein and in Section 9 below, (y) compliance with the various loyalty obligations set forth in Sections 11 to 14, and (z) the Employee’s execution of a comprehensive Waiver and Release prepared by Employer that waives and releases all claims relating to or arising from Employee’s employment and the termination of that employment, the Employer shall pay or cause to be paid the following severance benefits: (a) an amount equal to the greater of (i) Employee’s annualized base salary for the calendar year preceding the year in which the Termination Date occurs or (ii) the annualized base salary for the calendar year in which the Termination Date occurs, and (b) if the Employee elects COBRA continuation coverage under the Employer’s health plan, then the Employer will pay on the Employee’s behalf the premiums required for employee-only COBRA coverage for up to a maximum of twelve (12) months. (A) Employee shall not be entitled to any severance benefits under this Agreement if no Change in Control Event occurs on or before May 31, 2020, as the Employer’s obligation to pay severance under this Agreement terminates no later than May 31, 2020 as specified in Section 10 below, unless the Employer extends the term by an amendment to this Agreement. Moreover, to avoid any confusion, Employee will not be entitled to any severance benefits under this Agreement, even if the Employer terminates the Employee without Cause (subject only to the protection provided by Section 4(C) below) or the Employee terminates employment for Good Reason during the term of this Agreement if no Change of Control Event has occurred at the time of termination of employment. (B) If at any time, even if a covered Change in Control Event occurs during the term of this Agreement, (i) the Employer terminates Employee’s employment for “Cause,” (ii) Employee voluntarily terminates Employee’s employment with Employer for Other than Good Reason, or (iii) Employee’s employment terminates or is terminated due to Employee’s death, Retirement or pursuant to a Determination o...

Severance Benefits in Certain Events. If Gen-Probe terminates the Executive’s employment for reasons other than Cause, or if the Executive terminates his employment for Good Reason, and such termination constitutes a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h) (a “Separation from Service”), the Executive shall be entitled to receive the following severance benefits:

Severance Benefits in Certain Events. This Agreement shall not apply to any termination of employment for which benefits are payable to the Executive under Sequenom’s Amended and Restated Change in Control Severance Benefit Plan (the “Change in Control Severance Plan”) and the Change in Control Severance Plan shall continue to apply to any such termination. Except in connection with a termination for which benefits are payable to the Executive under the Change in Control Severance Plan, if Sequenom terminates the Executive’s employment for reasons other than for Cause, or if the Executive terminates his employment for Good Reason (provided that (i) the Executive notified Sequenom in writing of his or her intent to terminate his employment for Good Reason within 90 days following the initial existence of the condition giving rise to Good Reason (a “Good Reason Condition”) and provided Sequenom with a period of 30 days following receipt of such written notice during which it may remedy the Good Reason Condition, (ii) Sequenom did not remedy the Good Reason Condition during such period, and (iii) the Executive terminates his employment for Good Reason based on the condition specified in the notice, and such termination occurs within one year after the initial existence of such Good Reason Condition), and in either case, such termination constitutes a “separation from service” within the meaning of Treasury Regulation Section l.409A-l(h) (a “Separation from Service”), the Executive shall be entitled to receive as liquidated damages, the severance benefits set forth in Sections 7(a) through 7(e) below, subject to Sections 7(f) through 7(i) below:

Severance Benefits in Certain Events. If Gen-Probe terminates the Executive’s employment for reasons other than for Cause, or if the Executive terminates his employment for Good Reason (provided that (i) Executive notified Gen-Probe of his or her intent to resign for Good Reason within 90 days of the initial existence of the condition giving rise to Good Reason (a “Good Reason Condition”) and provides Gen-Probe with a period of 30 days during which it may remedy the Good Reason Condition, (ii) Gen-Probe did not remedy the Good Reason Condition during such period, and (iii) Executive terminated for Good Reason based on the condition specified in the notice, and such resignation occurs within one year after the initial existence of such Good Reason Condition), and such termination constitutes a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h) (a “Separation from Service”), the Executive shall be entitled to receive as liquidated damages, the following severance benefits:

Severance Benefits in Certain Events. If Gen-Probe terminates the Executive’s employment for reasons other than Cause, or if the Executive terminates his employment for Good Reason, the Executive shall be entitled to receive the following severance benefits:

Severance Benefits in Certain Events. If your employment shall be involuntarily terminated by the Company other than for Cause, or if you terminate your employment for Good Reason, you shall be entitled to receive the following severance benefits: