Common use of Xxxxxxxxx Payment and Benefits Clause in Contracts

Xxxxxxxxx Payment and Benefits. In accordance with and subject to the terms of that certain Executive Severance and Change in Control Letter Agreement between Employee and ChannelAdvisor dated _________________ (the “Agreement”) in particular, the requirement that this Severance Agreement becomes effective by the twenty-ninth (29th) day following the Separation Date as provided in Paragraph 11 of this Severance Agreement, ChannelAdvisor will: a. pay Employee an amount equal to $___________ pursuant to Section 2(B)(1) of the Agreement, which total amount shall be paid in a one-time lump sum payment on the next available regularly scheduled payroll date within sixty (60) days following the Separation Date, and, b. if Employee timely and properly elects COBRA continuation coverage under ChannelAdvisor’s group health plan for medical or dental coverage, ChannelAdvisor will pay the monthly premium for the coverage directly to the insurance provider for a period of up to 12 months. If Employee receives subsequent employment that includes one or both of these benefits, then upon the first date Employee is eligible to receive the benefits, Employee shall promptly notify ChannelAdvisor in writing. Upon receipt of Employee’s notice, ChannelAdvisor shall cease payment for any benefits that are being provided by Employee’s new employer. If Employee delays in notifying ChannelAdvisor of the change in benefits status, Employee shall promptly return all overpayments.

Xxxxxxxxx Payment and Benefits. In accordance with and subject to the terms of that certain [Amended and Restated] Executive Severance and Change in Control Letter Agreement between Employee and ChannelAdvisor dated _________________ (the “Agreement”) in particular, the requirement that this Severance Agreement becomes effective by the twenty-ninth sixtieth (29th60th) day following the Separation Date as provided in Paragraph 11 of this Severance Agreement, ChannelAdvisor will: a. pay Employee an amount equal to $___________ pursuant to Section 2(B)(1) of the Agreement, which total amount shall be paid in a one-time lump sum payment on the next available regularly scheduled payroll date within sixty (60) days following the Separation Date, and, b. if Employee timely and properly elects COBRA continuation coverage under ChannelAdvisor’s group health plan for medical or dental coverage, ChannelAdvisor will pay the monthly premium for the coverage directly to the insurance provider for a period of up to 12 months. If Employee receives subsequent employment that includes one or both of these benefits, then upon the first date Employee is eligible to receive the benefits, Employee shall promptly notify ChannelAdvisor in writing. Upon receipt of Employee’s notice, ChannelAdvisor shall cease payment for any benefits that are being provided by Employee’s new employer. If Employee delays in notifying ChannelAdvisor of the change in benefits status, Employee shall promptly return all overpayments.

Xxxxxxxxx Payment and Benefits. In accordance with and subject to the terms of that certain Executive Severance and Change in Control Letter Agreement between Employee and ChannelAdvisor dated _________________ (the “Agreement”) in particular, the requirement that this Severance Agreement becomes effective by the twenty-ninth sixtieth (29th60th) day following the Separation Date as provided in Paragraph 11 of this Severance Agreement, ChannelAdvisor will: a. pay Employee an amount equal to $___________ pursuant to Section 2(B)(1) of the Agreement, which total amount shall be paid in a one-time lump sum payment on the next available regularly scheduled payroll date within sixty (60) days following the Separation Date, and, b. if Employee timely and properly elects COBRA continuation coverage under ChannelAdvisor’s group health plan for medical or dental coverage, ChannelAdvisor will pay the monthly premium for the coverage directly to the insurance provider for a period of up to 12 months. If Employee receives subsequent employment that includes one or both of these benefits, then upon the first date Employee is eligible to receive the benefits, Employee shall promptly notify ChannelAdvisor in writing. Upon receipt of Employee’s notice, ChannelAdvisor shall cease payment for any benefits that are being provided by Employee’s new employer. If Employee delays in notifying ChannelAdvisor of the change in benefits status, Employee shall promptly return all overpayments.