Common use of Basic Severance Payment Clause in Contracts

Basic Severance Payment. If Employee does not enter into this Agreement, Employer will pay Employee the equivalent of two (2) weeks of Employee’s last base pay, which equals the gross amount of $14,124.42 and will be subject to all applicable withholding taxes (the “Basic Severance Payment”). The Basic Severance Payment will automatically be paid on the Separation Date and does not constitute consideration for the signing of this Agreement and General Release.

Basic Severance Payment. If Employee does not enter into this Agreement, Employer will pay Employee the equivalent of two (2) weeks of Employee’s last base pay, which equals the gross amount of $14,124.42 14,700.00 and will be subject to all applicable withholding taxes (the “Basic Severance Payment”). The Basic Severance Payment will automatically be paid on the Separation Date and does not constitute consideration for the signing of this Agreement and General Release.