Severance Benefits Continuation definition
Examples of Severance Benefits Continuation in a sentence
For purposes of clarification only, Employee is not entitled to Severance Pay or Severance Benefits Continuation if his employment terminates by reason of death or Inability to Perform, by reason of his resignation without Good Reason, by reason of notice of non-extension given by Employee, or by reason of the termination of his employment for Cause.
For purposes of clarification only, Executive is not entitled to Severance Pay or Severance Benefits Continuation if his employment is terminated by reason of death or Inability to Perform, by the Company for Cause, by Executive without Good Reason, or by reason of the occurrence of the Expiration Date.
Severance Pay: 1.75x Base Salary and 1.75x Bonus Target Months of Severance Benefits Continuation (limited to applicable COBRA continuation period): 18 months Restriction Period: 21 months following the Termination Date.
Severance Pay: 2x Base Salary and 2x Bonus Target Months of Severance Benefits Continuation (limited to applicable COBRA continuation period): 18 months Restriction Period: 24 months following the Termination Date.
The Notice Salary Continuation, Benefits Continuation, Vesting Continuation, Severance Salary Continuation, Severance Benefits Continuation, and Outplacement Benefit (collectively, “Separation Benefits”) are contingent upon the Company receiving an executed copy of this Agreement before June 2, 2014 and Employee promising to sign this Agreement a second time on the Separation Date.