Severance Agreement definition

Severance Agreement means the Key Executive Severance Agreement, dated as of the date hereof, between the parties, as it may be amended from time to time, that provides for certain benefits related to termination of the Executive’s employment that are unrelated to a Change of Control.

Severance Agreement means any Severance Agreement solely between the Employee and the Company in effect as of the date of this Agreement, as such may be amended or superseded from time to time.

Severance Agreement means a severance or other similar agreement, in form acceptable to the Company and containing such terms as may be specified by the Company in the exercise of its discretion (which discretion may include, but shall not be limited to, requiring restrictive covenants in favor of the Company).

Examples of Severance Agreement in a sentence

• Mr./Ms. further agrees that his/her violation of this paragraph shall constitute a material breach of this Severance Agreement and Release.

• In the event of any inconsistency between the provisions of this Agreement and any severance agreement, employment agreement or other similar written agreement then in effect between Participant, on the one hand, and Corporation or the Successor, on the other hand (the “Severance Agreement”), the terms of the Severance Agreement will control.

• The Executive and the Company shall enter into a separate Change in Control and Severance Agreement contemporaneously with the execution of this Agreement.

• If the Participant, prior to the Final Exercise Date, is discharged by the Company (or a Subsidiary or Affiliate) for “Cause” (as defined in Section 1.2 of the Severance Agreement), the right to exercise this Option shall terminate immediately upon the effective date of such discharge.

• Except as provided above, the terms and conditions of the Executive Severance Agreement will remain in full force and effect, including, but not limited to, the requirement that you execute the Release described in Section 3(c) as amended by this Amendment.

More Definitions of Severance Agreement

Severance Agreement means that certain Officer Severance Agreement, dated as of the date hereof, between the Executive and the Company.

Severance Agreement has the meaning set forth in Section 5.2(f).

Severance Agreement means a written change in control and severance agreement between the Optionee and the Company.

Severance Agreement means a written agreement in a form satisfactory to the Administrator in exchange for payment of Severance Benefits as provided in Article 6. In the sole discretion of the Administrator, such agreement may include without limitation, but is not limited to, provisions relating to (i) non-disparagement and non-disclosure; (ii) non-solicitation of customers, clients and employees; (iii) use of confidential and proprietary information; (iv) return of company property; (v) cooperation with investigations, arbitrations, and litigation; (vi) release and waiver of all legal claims; and (vii) authorized deductions (if any). To be effective, a Severance Agreement must be signed and returned by the Return Date (and not revoked during any applicable Revocation Period). Severance Agreements are not required to be identical among Participants.

Severance Agreement shall have the meaning set forth in Section 2.3.

Severance Agreement means the Severance Agreement entered into by and between SPI and Executive, as amended and restated effective August 3, 2000.

Severance Agreement means that certain Amended and Restated Change of Control Severance Agreement, dated as of May 5, 2023, by and between the Company, Invacare Corporation, and the Executive.