Standard Severance Benefits Sample Clauses

Standard Severance Benefits. No benefits shall be payable to Executive under this Agreement unless and until all conditions specified herein are met, including, without limitation, the occurrence of a Change of Control with the necessary subsequent effect on Executive's employment. Prior to the occurrence of a Change of Control, any severance benefits due to Executive upon termination of employment with Company will be determined solely under the Officer Agreement. Executive agrees that, if at any time Executive qualifies for benefits under this Agreement, the Officer Agreement will terminate automatically and the terms of the Officer Agreement will be given no further effect whatsoever (except to the extent such terms are incorporated herein or items in this Agreement are determined with reference to such terms), Executive will have no rights whatsoever arising under or in connection with the Officer Agreement, no payment of any benefits provided for in the Officer Agreement will be made to Executive and this Agreement will constitute the sole and exclusive authority for payment of severance benefits to Executive. Regardless of anything to the contrary in the preceding sentence, if at any time Executive begins receiving Standard Severance Benefits, this Agreement will terminate automatically and its terms will be given no further effect whatsoever, Executive will have no rights whatsoever arising under or in connection with this Agreement, no payment of any benefits provided for herein will be made to Executive and the Officer Agreement will constitute the sole and exclusive authority of payment of severance benefits to Executive.
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Standard Severance Benefits. Standard Severance Benefits" shall mean the benefits described in Section 3(A) of the Officer Agreement.
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Standard Severance Benefits. The Executive shall have no further right to receive any other compensation or benefits after such termination or resignation of employment, except as described in Section 2 or, if applicable, Section 4(b). Except as otherwise required under Section 6(b), the Standard Severance Benefits shall be paid to the Executive in a lump sum no later than the forty-fifth (45th) day immediately following the Executive's Separation from Service (as defined below), provided that the Executive first executes a release of any and all claims against the Company (set forth in Section 4(d), below) and the revocation period specified therein has expired without the Executive revoking such release. Notwithstanding the foregoing and for avoidance of doubt, if the Executive's employment is terminated by the Company for the Executive's death, the Executive's Disability or Cause or by the Executive without Good Reason at any time, then the Executive shall not be entitled to or receive the Standard Severance Benefits.
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Standard Severance Benefits 
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Related to Standard Severance Benefits

  • Change in Control Severance Benefits If there is a Change in Control, and within one (1) year of such Change in Control, the Executive’s employment is terminated under the circumstances described in Sections 4(a) through 4(f) above, the Executive shall be entitled to the following: (I) if such termination is a termination by the Company without Cause pursuant to Section 4(a) or the Executive resigns for Good Reason pursuant to Section 4(b), the Company shall pay the Executive the Accrued Obligations and, in addition, subject to the provisions of Section 19, (A) an amount equal to twenty-four (24) months of the Executive’s Base Salary at the rate in effect on the date of termination or resignation, payable in a lump sum within sixty (60) calendar days of the date of termination or resignation; and (B) provided the Executive timely elects continuation coverage under COBRA, the Company shall also pay, on the Executive’s behalf, the portion of monthly premiums for the Executive’s group health insurance, including coverage for the Executive’s dependents, that the Company paid immediately prior to the date of termination or resignation, during the eighteen (18) month period following the date of termination or resignation, subject to the Executive’s continued eligibility for COBRA coverage. The Company will pay for such COBRA coverage for eligible dependents only for those dependents who were enrolled immediately prior to the date of termination or resignation. The Executive will continue to be required to pay that portion of the premium for the Executive’s health coverage, including coverage for the Executive’s eligible dependents, that the Executive was required to pay as an active employee immediately prior to the date of termination or resignation. Notwithstanding the foregoing, in the event that under applicable guidance the reimbursement of COBRA premiums causes the Company’s group health plan to violate any applicable nondiscrimination rule, the parties agree to negotiate in good faith a mutually agreeable alternative arrangement; and (II) if such termination is a termination or resignation under the circumstances described in Sections 4(c), 4(d), 4(e) or 4(f), the Executive shall be entitled to the compensation and benefits for which the Executive is eligible under such sections.

  • Lump Sum Severance Payment Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the Release required by Paragraph 4(g) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.

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