Common use of Description of Severance Benefits Clause in Contracts

Description of Severance Benefits. For purposes of this Agreement, "Severance Benefits" are defined as severance pay equivalent to twelve (12) months of your Base Salary (defined below) in effect as of your last day of employment with PeoplePC (the "Termination Date"). The severance pay will be paid in a single lump sum within seven (7) days after the effective date of the release described below, and will be subject to standard payroll deductions and withholdings. To receive the Severance Benefits, you must first sign a general release of claims in favor of the Company in the form attached hereto as Exhibit B.

Description of Severance Benefits. For purposes of this Agreement, "Severance Benefits" are defined as severance pay equivalent to twelve six (126) months of your Base Salary (defined below) in effect as of your last day of employment with PeoplePC (the "Termination Date"). The severance pay will be paid in a single lump sum within seven (7) days after the effective date of the release described below, and will be subject to standard payroll deductions and withholdings. To receive the Severance Benefits, you must first sign a general release of claims in favor of the Company in the form attached hereto as Exhibit B.

Description of Severance Benefits. For purposes of this Agreement, "Severance Benefits" are defined as severance pay equivalent to twelve four (124) months of your Base Salary (defined below) in effect as of your last day of employment with PeoplePC (the "Termination Date"). The severance pay will be paid in a single lump sum within seven (7) days after the effective date of the release described below, and will be subject to standard payroll deductions and withholdings. To receive the Severance Benefits, you must first sign a general release of claims in favor of the Company in the form attached hereto as Exhibit B.