Severance Conditions definition
Severance Conditions. (1) the Employee has resigned from all officer and director positions the Employee may have held with the Company, if requested by the Company; (2) the Employee has returned all material Company property in the Employee’s possession; (3) the Employee has materially complied with the Employee’s obligations under the EIACNA and continues to materially comply with such obligations; and (4) the Employee has executed a general release of all known and unknown claims that the Employee may have against the Company or persons affiliated with the Company on the Company’s standard form approved by the Company (the “Release”) and the Release becomes effective and irrevocable.
Severance Conditions means the Executive’s execution, non-revocation, and delivery to the Company of a full and final release of claims (the “Release”) against the Company, its subsidiaries, affiliates, and each of their predecessors, successors and assigns and past, present and future stockholders, owners, investors, officers, directors, employees, agents, attorneys and benefit plans in a form acceptable to the Company provided that the executed Release has been delivered to the Company and become irrevocable on or prior to the fifty-fifth (55th) day following the Date of Termination, provided, however, that the Release shall exclude (and not release) any claims for indemnification, claims for coverage under officer and director policies, and claims as a direct or indirect security holder of the Company (subject, in each case, to any terms, conditions and applicable limitations).
Severance Conditions means your (i) signing a separation agreement that contains a general release of claims and non-disparagement covenant in favor of the Company (among other terms) in a form reasonably acceptable to the Company (the “Separation Agreement”) within twenty one (21) days following the Severance Date (or such longer period as may be necessary to obtain an effective general release of all claims), and your not revoking the Separation Agreement during the seven-day period after you sign it; and (ii) complying with the terms of the Separation Agreement and the Confidentiality Agreement (as defined below).
Examples of Severance Conditions in a sentence
If you resign your employment for Good Reason, as defined below, within twelve (12) months after or three (3) months before a Change of Control, you will be entitled to the Severance Benefits, contingent on your compliance with the Severance Conditions.
In the event of Executive’s resignation for Good Reason, Executive will be entitled to receive Executive’s Base Salary then in effect, prorated to the date of termination, Accrued Benefits, and the Severance Package described in subsection 7.2 above, provided Executive complies with all of the Severance Conditions in subsection 7.2 above.
No payment of any part of a Severance Package or Change in Control Severance Package, or pursuant to Section 5(d), shall be made unless the Employee (or Employee’s estate) has complied with the Severance Conditions.
If Employee (or Employee’s estate) has complied with the Severance Conditions, then any payment that would have become payable prior to the execution of the Release and the end of the revocation period shall be made at the expiration of the 30 day period.
If Executive does not fulfill the Severance Conditions then (i) the Company shall immediately cease the provision of any payments or benefits made under this Section 3, other than the Accrued Payments, and (ii) Executive shall promptly pay to the Company an amount equal to the value of any payments or benefits Executive has previously received under this Section 3, other than the Accrued Payments.
More Definitions of Severance Conditions
Severance Conditions means (i) your executing and not revoking a release for the benefit of the Company Group, as may be amended from time to time upon advice of counsel (the “General Release”), (ii) such General Release becoming effective and irrevocable within 60 days following your termination of employment with the Company Group or such shorter period specified in the General Release (the “Release Deadline”), and (iii) your executing other related materials pertaining to your separation from the Company Group by the Release Deadline.
Severance Conditions means the Executive’s execution and delivery to the Company by the Release Expiration date (and non-revocation in any time provided to do so) a release in a form acceptable to the Company, which such release shall be provided by the Company within five (5) days after the Date of Termination and shall release all claims against the Company, its affiliates and their respective predecessors, successors, affiliates, directors, officers, equity holders, partners, managers, members, employees, agents, representatives, insurers and benefit plans (and the fiduciaries and trustees of such plans), with the exception of any claims: (A) to severance as described in this Agreement, (B) vested benefits under an ERISA plan; or (C) that cannot be released by law.
Severance Conditions. (1) the Employee has resigned from all officer and director positions the Employee may have held with the Company, if requested by the Company; (2) the Employee has returned all material Company property (or deleted all material Company property that is maintained on any personal electronic device) in the Employee’s possession; (3) the Employee has materially complied with the Employee’s obligations under the EIACNA and continues to materially comply with such obligations; and (4) the Employee has executed a general release of all known and unknown claims that the Employee may have against the Company or persons affiliated with the Company on the substantially the form attached hereto as Exhibit A (the “Release”) and the Release becomes effective and irrevocable in accordance with its terms.
Severance Conditions means a Participant’s execution and delivery to the Company on or prior to the 60th day following the Date of Termination of a release of claims agreement in a form prescribed by the Company which shall exclude claims for indemnification, claims for coverage under officer and director policies, and claims as a stockholder of the Company and which may be amended by the Company to reflect changes in applicable laws and regulations and, where applicable, Participant’s non-revocation of such release.
Severance Conditions means that (i) solely outside of a Change in Control Coverage Period, the Participant continues to comply with any restrictive covenants applicable to the Participant by Company policy or by specific written agreement and (ii) no later than the 60th day following the applicable Termination Date, the Participant has delivered to the Company an executed Separation and Release Agreement and such Separation and Release Agreement has become effective, enforceable and irrevocable in accordance with its terms.
Severance Conditions means the Recipient’s execution, on or before the 45th day following the Date of Separation, and delivery to the General Partner of a release of claims agreement in the General Partner’s customary form following the Date of Separation, which shall exclude (and not release) claims for indemnification, claims for coverage under officer and director policies, claims arising out of a breach of, or non-compliance with, the provisions of this Agreement, and claims as a direct or indirect equity holder of the Partnership and/or the General Partner and which may be amended by the General Partner to reflect changes in applicable laws and regulations, and the Recipient’s subsequent non-revocation of such release on or before the 53rd day following the Date of Separation.
Severance Conditions means that the Executive (i) signs an employment termination agreement with the Company under which the Executive agrees not to dispute a possible dismissal on the part of the Company or the terms and conditions for such a dismissal, and releases any and all claims against the Company or any of its affiliates and their respective affiliates, directors, officers, employees, agents and representatives in form and substance acceptable to the Company, and (ii) immediately complies with any request from the Company to actually terminate the Executive's employment and/or is released from the duty to work and/or to perform other duties.