Common use of Timing of Severance Payments Clause in Contracts

Timing of Severance Payments. Unless otherwise required by Section 3(g), the Company will pay any severance payments in a lump sum as soon as practicable, but not later than the 60th day following Executive’s termination date; provided, however, that no severance or other benefits will be paid or provided until the release of claims discussed in Section 3(a) or 3(b) is effective within the time period set forth herein. If Executive is entitled to the severance payments pursuant to Section 3(a) or 3(b) and should die before all of the severance amounts have been paid, such unpaid amounts will be paid in a lump-sum payment promptly following such event to Executive’s designated beneficiary, if living, or otherwise to the personal representative of Executive’s estate.

Appears in 3 contracts

Samples: Change of Control and Severance Agreement (Solta Medical Inc), Control and Severance Agreement (Solta Medical Inc), Change of Control and Severance Agreement (Solta Medical Inc)

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Timing of Severance Payments. Unless otherwise required by Section 3(g), the Company will pay any severance payments in a lump sum as soon as practicable, but not later than the 60th day practicable following Executive’s termination date; provided, however, that no severance or other benefits will be paid or provided until the separation agreement and release of claims discussed in Section 3(a) becomes effective, and any severance amounts or 3(b) is benefits otherwise payable between Executive’s termination date and the date such release becomes effective within will be paid on the time period set forth hereineffective date of such release. If Executive is entitled to the severance payments pursuant to Section 3(a) or 3(b) and should die before all of the severance amounts have been paid, such unpaid amounts will be paid in a lump-sum payment promptly following such event to Executive’s designated beneficiary, if living, or otherwise to the personal representative of Executive’s estate.

Appears in 3 contracts

Samples: Control Severance Agreement (NetApp, Inc.), Control Severance Agreement (NetApp, Inc.), Change of Control Severance Agreement (NetApp, Inc.)

Timing of Severance Payments. Unless otherwise required by Section 3(g), the Company will pay any severance payments in a lump sum as soon as practicable, practicable but not later no longer than the 60th day 10 business days following Executive’s termination or resignation date; provided, however, that no severance or other benefits will be paid or provided until the release of claims discussed in Section 3(a) becomes effective, and any severance amounts or 3(b) is benefits otherwise payable between Executive’s termination or resignation date and the date such release becomes effective within will be paid on the time period set forth hereineffective date of such release. If Executive is entitled to the severance payments pursuant to Section 3(a) or 3(b) and should die before all of the severance amounts have been paid, such unpaid amounts will be paid in a lump-sum payment promptly following such event to Executive’s designated beneficiary, if living, or otherwise to the personal representative of Executive’s estate.

Appears in 2 contracts

Samples: Change in Control Severance Agreement (Riverbed Technology, Inc.), Control Severance Agreement (Riverbed Technology, Inc.)

Timing of Severance Payments. Unless otherwise required by Section 3(g2(g), the Company will pay any severance payments in a lump sum as soon as practicable, but not later than the 60th day practicable following Executive’s termination date; provided, however, that no severance or other benefits will be paid or provided until the separation agreement and release of claims discussed in Section 3(a) becomes effective, and any severance amounts or 3(b) is benefits otherwise payable between Executive’s termination date and the date such release becomes effective within will be paid on the time period set forth hereineffective date of such release. If Executive is entitled to the severance payments pursuant to Section 3(a) or 3(b) and should die before all of the severance amounts have been paid, such unpaid amounts will be paid in a lump-sum payment promptly following such event to Executive’s designated beneficiary, if living, or otherwise to the personal representative of Executive’s estate.

Appears in 2 contracts

Samples: Change of Control Severance Agreement (NetApp, Inc.), Change of Control Severance Agreement (NetApp, Inc.)

Timing of Severance Payments. Unless otherwise required by Section 3(g), the Company will pay any severance payments in a lump sum as soon as practicable, but not later than the 60th day practicable following Executive’s 's termination date; provided, however, that no severance or other benefits will be paid or provided until the separation agreement and release of claims discussed in Section 3(a) becomes effective, and any severance amounts or 3(b) is benefits otherwise payable between Executive's termination date and the date such release becomes effective within will be paid on the time period set forth hereineffective date of such release. If Executive is entitled to the severance payments pursuant to Section 3(a) or 3(b) and should die before all of the severance amounts have been paid, such unpaid amounts will be paid in a lump-sum payment promptly following such event to Executive’s 's designated beneficiary, if living, or otherwise to the personal representative of Executive’s 's estate.

Appears in 2 contracts

Samples: Change of Control Severance Agreement (Axos Financial, Inc.), Change of Control Severance Agreement (BofI Holding, Inc.)

Timing of Severance Payments. Unless otherwise required by Section 3(g4(g), the Company will pay any severance payments in a lump sum as soon as practicable, but not later than the 60th day practicable following Executive’s termination date; provided, however, that no severance or other benefits will be paid or provided until the release of claims discussed in Section 3(a4(a) becomes effective, and any severance amounts or 3(b) is benefits otherwise payable between Executive’s termination date and the date such release becomes effective within will be paid on the time period set forth hereineffective date of such release. If Executive is entitled to the severance payments pursuant to Section 3(a) or 3(b) and should die before all of the severance amounts have been paid, such unpaid amounts will be paid in a lump-sum payment promptly following such event to Executive’s designated beneficiary, if living, or otherwise to the personal representative of Executive’s estate.

Appears in 1 contract

Samples: Change of Control Severance Agreement (Catapult Communications Corp)

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Timing of Severance Payments. Unless otherwise required by Section 3(g), the Company will pay any severance payments in a lump sum as soon as practicable, but not later than the 60th day following in a lump sum one (1) month after Executive’s termination date; provided, however, that no severance or other benefits will be paid or provided until the release of claims discussed in Section 3(a) or 3(b) is becomes effective, and any severance amounts or benefits otherwise payable between Executive’s termination date and the date such release becomes effective within will be paid on the time period set forth hereineffective date of such release. If Executive is entitled to the severance payments pursuant to Section 3(a) or 3(b) and should die before all of the severance amounts have been paid, such unpaid amounts will be paid in a lump-sum payment promptly following such event to Executive’s designated beneficiary, if living, or otherwise to the personal representative of Executive’s estate.

Appears in 1 contract

Samples: Change of Control and Severance Agreement (Thermage Inc)

Timing of Severance Payments. Unless otherwise required by Section 3(g), the Company will pay any severance payments in a lump sum as soon as practicable, but practicable (not later than the 60th day one (1) month) following Executive’s termination date; provided, however, that no severance or other benefits will be paid or provided until the release of claims discussed in Section 3(a) or 3(b) is becomes effective, and any severance amounts or benefits otherwise payable between Executive’s termination date and the date such release becomes effective within will be paid on the time period set forth hereineffective date of such release. If Executive is entitled to the severance payments pursuant to Section 3(a) or 3(b) and should die before all of the severance amounts have been paid, such unpaid amounts will be paid in a lump-sum payment promptly following such event to Executive’s designated beneficiary, if living, or otherwise to the personal representative of Executive’s estate.

Appears in 1 contract

Samples: Change of Control and Severance Agreement (Thermage Inc)

Timing of Severance Payments. Unless otherwise required by Section 3(g), the Company will pay any severance payments in a lump sum as soon as practicable, but not later than the 60th day following one (1) month after Executive’s termination date; provided, however, that no severance or other benefits will be paid or provided until the release of claims discussed in Section 3(a) or 3(b) is becomes effective, and any severance amounts or benefits otherwise payable between Executive’s termination date and the date such release becomes effective within will be paid on the time period set forth hereineffective date of such release. If Executive is entitled to the severance payments pursuant to Section 3(a) or 3(b) and should die before all of the severance amounts have been paid, such unpaid amounts will be paid in a lump-sum payment promptly following such event to Executive’s designated beneficiary, if living, or otherwise to the personal representative of Executive’s estate.

Appears in 1 contract

Samples: Change of Control and Severance Agreement (Thermage Inc)

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