Common use of Cash Severance Clause in Contracts

Cash Severance. The Company shall pay you, as severance, the equivalent of twelve (12) months (the “CIC Severance Period”) of your Base Salary in effect as of the Separation Date, subject to standard payroll deductions and withholdings (the “CIC Severance”). The CIC Severance will be paid in a lump sum on the first regularly-scheduled payroll date following the sixtieth (60th) day after your Separation from Service, provided the Separation Agreement (as discussed in Section 7.8) has become effective.

Appears in 5 contracts

Sources: Business Combination Agreement (Phoenix Biotech Acquisition Corp.), Employment Agreement (Intrinsic Medicine, Inc.), Employment Offer Letter (Intrinsic Medicine, Inc.)

Cash Severance. The Company shall pay you, as severance, the equivalent of twelve six (126) months (the “CIC Severance Period”) of your Base Salary in effect as of the Separation Date, subject to standard payroll deductions and withholdings (the “CIC Severance”). The CIC Severance will be paid in as a lump sum continuation on the Company’s regular payroll, beginning no later than the first regularly-scheduled payroll date following the sixtieth (60th) day after your Separation from Service, provided the Separation Agreement (as discussed in Section 7.87.6) has become effective.

Appears in 4 contracts

Sources: Employment Agreement (Biocept Inc), Employment Agreement (Biocept Inc), Employment Agreement (Biocept Inc)

Cash Severance. The Company shall pay you, as severance, the equivalent of twelve (12) 18 months (the “CIC Severance Period”) of your Base Salary in effect as of the Separation Date, subject to standard payroll deductions and withholdings (the “CIC Severance”)withholdings. The CIC Severance will be paid in as a lump sum continuation on the Company’s regular payroll, beginning no later than the first regularly-scheduled payroll date following the sixtieth (60th) day after your Separation from Service, provided the Separation Agreement (as discussed in Section 7.88.4) has become effective.

Appears in 4 contracts

Sources: Offer of Employment (Inmune Bio, Inc.), Offer of Employment (Inmune Bio, Inc.), Employment Agreement (Inmune Bio, Inc.)

Cash Severance. The Company shall pay you, as severance, the equivalent of twelve (12) months (the “CIC Severance Period”) of your Base Salary in effect as of the Separation Date, subject to standard payroll deductions and withholdings (the “CIC Severance”). The CIC Severance will be paid in as a lump sum continuation on the Company’s regular payroll, beginning no later than the first regularly-scheduled payroll date following the sixtieth (60th) day after your Separation from Service, provided the Separation Agreement (as discussed in Section 7.8) has become effective.

Appears in 4 contracts

Sources: Employment Agreement (Intrinsic Medicine, Inc.), Employment Offer Letter (Intrinsic Medicine, Inc.), Employment Agreement (Intrinsic Medicine, Inc.)

Cash Severance. The Company shall pay you, as severance, the equivalent of twelve (12) months (the “CIC Severance Period”) of your Base Salary in effect as of the Separation Date, subject to standard payroll deductions and withholdings (the “CIC Severance”). The CIC Severance will be paid in as a lump sum continuation on the Company’s regular payroll, beginning no later than the first regularly-scheduled payroll date following the sixtieth (60th) day after your Separation from Service, provided the Separation Agreement (as discussed in Section 7.87.6) has become effective.

Appears in 4 contracts

Sources: Employment Agreement (Biocept Inc), Employment Agreement (Biocept Inc), Employment Agreement (Biocept Inc)