Separation Compensation Sample Clauses

Separation Compensation. In exchange for Employee’s agreement to the general release and waiver of claims and covenant not to s▇▇ set forth in Sections 8 and 9 below and Employee’s other promises herein, the Company agrees to provide Employee with the following separation compensation (“Separation Compensation”):

Separation Compensation. Pursuant to the terms of the Offer Letter, if You timely sign this Agreement and this Agreement becomes effective in accordance with Section 9 below, the Company will provide You with the Separation Compensation as defined and described in Attachment A to the Offer Letter within ten (10) days of the Effective Date (as defined below).

Separation Compensation. Provided that you adequately provide the Transition Services, then in exchange for your agreement to the general release and waiver of claims and covenant not to sue in this Agreement and as set forth in Exhibit A (the “Second Release”), to be signed no earlier than the Separation Date, and your other promises herein, the Company agrees as follows:

Separation Compensation. In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the [Severance Benefits / Change in Control Severance Benefits] (as defined in the Offer Letter, dated as of September 29, 2017, between you and the Company). By signing below, you acknowledge that you are receiving the separation compensation outlined in this paragraph in consideration for waiving your rights to claims referred to in this Agreement and that you would not otherwise be entitled to the separation compensation.

Separation Compensation. In exchange for your agreement to the waiver and release of claims set forth in paragraph 6, below, the Company agrees to: (a) commencing on the first standard Company payroll date following the effective date of this Agreement (as defined in paragraph 12, below), pay you an amount equal to 6 months of your current base salary, less applicable payroll deductions and required withholdings, in substantially equal installments in accordance with the Company’s standard payroll practices over the Company’s 13 pay periods following the effective date of this Agreement (as defined in paragraph 12, below); (b) pay you $20,997, less applicable payroll deductions and required withholdings, which the parties agree satisfies in full the Company’s obligation set forth in your offer letter, dated December 13, 2006, to pay all costs that the Company would otherwise have incurred to maintain your health, welfare and retirement benefits if you had continued for 6 continuous months after the Separation Date. The Company will pay the amount set forth in this paragraph 3(b) in substantially equal installments commencing on and continuing in accordance with the same schedule described in paragraph 3(a); (c) accelerate vesting and extend the time to exercise vested shares subject to your stock option granted on December 20, 2006 (the “2006 Option”), as follows: The 2006 Option granted you an option to purchase up to 250,000 shares of the Company’s common stock at a price of $2.57 per share. Your right to purchase these shares was subject to a vesting schedule and, immediately prior to the Separation Date, the 2006 Option was vested as to 78,125 shares and unvested as to 171,875 shares. In exchange for your agreement to the waiver and release of claims set forth in paragraph 6, below, the Company agrees to: accelerate vesting as to 31,250 of the unvested shares, which would result in the 2006 Option being vested as to a total of 109,375 shares. By signing below, you acknowledge that you are receiving the separation compensation outlined in this paragraph 3 in consideration for waiving and releasing your rights to claims referred to in this Agreement and your agreement regarding such claims, as well as your agreement in paragraphs 8 and 9 of this Agreement, and that you would not otherwise be entitled to such separation compensation.

Separation Compensation. If you are entitled to Separation Compensation under Section 1 above, your “Separation Compensation” will include each of the following, as well as the applicable vesting acceleration terms described in Section 7:

Separation Compensation. In exchange for your agreement to the general release and waiver of claims and covenant not to ▇▇▇ set forth below and your other promises herein, the Company agrees to provide you with the [Severance Benefits / Change in Control Severance Benefits] (as defined in the employment contract, dated [insert date], 20[__], between you and the Company). By signing below, you acknowledge that you are receiving the separation compensation outlined in this paragraph in consideration for waiving your rights to claims referred to in this Agreement and that you would not otherwise be entitled to the separation compensation. The Company will pay the [Severance Benefits / Change in Control Severance Benefits] in the amount of CHF [XXX] gross in accordance with Section 3.5 [and Section 7] of your employment contract, if you do not dispute that the contract ended on the Separation Date set in Section 1 above and if you confirm once again in writing your consent to this Agreement after [insert date], but before [insert date]. The payment of the first instalment of the [Severance Benefits / Change in Control Severance Benefits] will be made within 30 days of the receipt of the written confirmation to the bank account used by the Company for salary payments. If, for any reason you dispute that the contract ended on the Separation Date set in Section 1 above, at the latest, and/or if you do not confirm once again in writing your consent to this Agreement in due time, you will not be entitled to the [Severance Benefits / Change in Control Severance Benefits], but this Agreement remains valid. Moreover, you will not be entitled to the [Severance Benefits / Change in Control Severance Benefits] and will pay them back to the Company if you have already received them, if you dispute the validity of part or all of this Agreement, for example the validity of the general release and waiver of claims and covenant not to ▇▇▇ set forth below.

Separation Compensation. If Employee's employment terminates pursuant to Section 7.1(a), (b), (c), (d) or (e) of this Agreement, Employee shall be entitled to receive the Base Salary and other compensation and benefits provided for under this Agreement through the date of termination, but shall not be entitled to receive any severance pay or non-vested employment benefits or options, or any other termination benefits, except to the extent otherwise required to be paid under applicable California law. If Employee's employment terminates for any reason other than pursuant to the provisions of this Agreement referred to in the immediately preceding sentence, then Employee shall be entitled to receive (i) the Base Salary and other compensation and benefits provided for under this Agreement through the date of termination, and (ii) an amount equal to one and one-half times Employee's then current annual Base Salary. The amount specified in clause (ii) above shall be payable in eighteen (18) equal monthly installments, commencing immediately following the termination of Employee's employment. The Company and Employee both agree that the amount of the severance payment specified by the immediately preceding sentence is reasonable under the circumstances existing at the time of the execution of this Agreement.

Separation Compensation. If you are entitled to Separation Compensation under Section 1 above, your “Separation Compensation” will include each of the following: