Additional Severance Payment Clause Samples
The Additional Severance Payment clause defines an extra monetary amount that an employer agrees to pay an employee upon termination, beyond any standard severance entitlements. This clause typically specifies the conditions under which the additional payment is triggered, such as termination without cause or following a change in company ownership, and may outline the calculation method or a fixed sum. Its core practical function is to provide enhanced financial security to the employee in certain termination scenarios, often serving as an incentive for retention or as compensation for loss of employment under specific circumstances.
Additional Severance Payment. If the Employee is covered by the Company health care plan, the Employee shall receive a cash payment equal to twelve (12) multiplied by the cost of a single month of COBRA coverage at the rates in effect on the date of termination. If such coverage included the Employee’s dependents immediately prior to the Employee’s termination of employment with the Company, such payment shall also include the cost of COBRA coverage for the Employee’s dependents.
Additional Severance Payment. Subject to the terms and conditions of the Agreement - NIS ___________
Additional Severance Payment. If the Employee’s Service Term at the time of termination is equal to or greater than twelve (12) months and the Employee is covered by the Company health care plan, then the Employee shall receive a lump sum cash payment equal to nine (9) multiplied by the cost of a single month of COBRA coverage at the rates in effect on the date of termination. If such coverage included the Employee’s dependents immediately prior to the Employee’s termination of employment with the Company, such payment shall also include the cost of COBRA coverage for the Employee’s dependents.
Additional Severance Payment. Subject to Executive’s continued compliance with this Agreement including without limitation, Executive’s obligations and undertakings pursuant to Section 1.3 and 3 hereof, and the Employment Agreement, the Company shall pay to Executive, in addition to any rights and entitlements under law and the Executive’s Employment Agreement, an amount equal to the sum of Executive’s Base Salary and Target Bonus, less applicable withholdings, in a cash lump sum as soon as administratively practicable following the date that the Release (as defined below) was executed by Executive.
Additional Severance Payment. Subject to your execution and non-revocation of this Agreement, you may be paid a single lump sum cash amount, based on provisions of the Annual Incentive Plan for such applicable fiscal year, in accordance with, and subject to, the terms and provisions of the Plan, as determined by Tyson in its sole discretion. This amount will be paid through ▇▇▇▇▇’▇ regular payroll practice beginning on the first payroll date commencing on or after July 9, 2023.
Additional Severance Payment. The Company will pay you an additional lump sum severance payment of $875,000.00, less all applicable withholdings and deductions, which will be paid to you on or before October 15, 2021. Although not earned, this amount is intended to be in lieu of the final equity award that you would be entitled to if your service with the Company continued through September 18, 2021 pursuant to Section 5 of the offer letter entered into by and between you and the Company, dated August 3, 2019 (your “Offer Letter”).
Additional Severance Payment. In addition to the amounts set forth in paragraphs 2 and 3 above, but subject to paragraph 15 hereof and to Gunter's full compliance with the terms of this Agreement including ▇▇▇ ▇▇▇ditions set forth below, the Company shall continue to pay Gunter his base salary at the rate of $130,000 per year from the Te▇▇▇▇▇▇ion Date until the date eighteen
Additional Severance Payment. In addition to any severance payments otherwise described in Sections 7 or 8, if Employee remains employed with the Company through March 1, 2018 and if the Company achieves pre‐tax net profits, determined in accordance with U.S. generally accepted accounting principles, of at least an aggregate of one million dollars over any rolling two consecutive Company fiscal quarters in fiscal 2017, he will be entitled to receive a lump‐sum cash severance payment equal to $1,250,000 upon his termination of employment for any reason on or after March 1, 2018, subject to any delay required by the provisions of Section 22.
Additional Severance Payment. Subject to the terms and conditions of the Agreement Certain capitalized terms used in this Release are defined in the Executive Severance Benefits Agreement (the “Agreement”), which I have executed and of which this Release is a part. I hereby confirm my obligations under the Company’s Employee Proprietary Information and Inventions Agreement. I also hereby confirm that of the date hereof, I have received all amounts and/or entitlements to which I am due as a result of or in connection with my employment with the Company including, without limitation, with respect to salary, wages, back wages, contributions to managers insurance (*) and education fund (**), severance pay, annual vacation, overtime pay, travel allowance, recreation pay (***), sick pay, commissions, incentives, bonuses, options, notice period or payment in lieu of notice, deferred compensation payments, expenses, benefits, and reimbursement of any kind and any other payment or benefits or rights whatsoever in connection with my employment with the Company or termination of my employment or that otherwise might be owed to me by the Company. In accordance with the termination of my employment at the Company I am entitled to all sums as described in the List of Final Payments, attached to this letter. I accept the payments described in the List of Final Payments as full, complete and unconditional payment, settlement and satisfaction of any and all obligations of the Company arising out of my employment or the termination of my employment, or that otherwise might be owed to me by the Company. Upon completion by the Company of the payments listed in the attached “List of Final Payments” in connection with my employment with the Company and/or the termination of such employment, neither myself, nor anyone on my behalf, has or will have any claim, demand and/or cause of action, including with respect to my dismissal and/or entitlement to severance pay, whether or not now known, suspected or claimed, which I have ever had, now have, or may claim to have against the Company and/or its affiliates (whether directly or indirectly) pursuant to the Employment Agreement or otherwise against Company and/or its affiliatesand/or anyone on its behalf, including its partners, investors, predecessors, successors, heirs, assigns, directors, employees or shareholders or any of their representatives of successors or affiliated corporations or organizations, whether previously or hereinafter affiliated in any mann...
Additional Severance Payment. Company will pay Employee, as an additional severance payment, 50% of the pro-rated bonus for 2023 (prorated based on target through the Termination Date), totaling $62,500.00. This amount will be paid in a lump sum, less deductions and withholdings, on the first payroll date following the Effective Date of this Agreement. The Company will pay Employee’s attorney(s) for documented attorney’s fees up to a max of $20,000. Any such invoices must be submitted to the Company no later than the Termination Date.