SEVERANCE PAY UPON TERMINATION. Amounts due under this Section 5.5 are in the nature of severance payments considered to be reasonable by the Company and are not in the nature of a penalty, provided that such payments shall be Executive's exclusive remedy relating to the termination of his employment hereunder.
Appears in 4 contracts
Samples: Employment Agreement (Sunbelt Automotive Group Inc), Employment Agreement (Sunbelt Automotive Group Inc), Employment Agreement (Sunbelt Automotive Group Inc)