Common use of Severance Agreement and Release Clause in Contracts

Severance Agreement and Release. In the event that Executive incurs a termination of employment pursuant to (i) a Termination Without Cause (as defined in Section 4.2 above), or (ii) a Termination With Good Reason (as defined in Section 4.3 above), payment by the Company of the amounts described in said sections shall be subject to the execution by Executive of the Company's standard severance agreement and release (the "Release"). The Release shall be delivered to Executive, in the case of a Termination Without Cause, at the time of delivery of the Termination Notice, and, in the case of a Termination With Good Reason, upon delivery of written notice by the Executive to the Company. Executive shall have a period of thirty (30) days after the effective date of termination of this Agreement (the "Consideration Period") in which to execute and return the original, signed Release to the Company. If Executive delivers the original, signed Release to the Company prior to the expiration of the Consideration Period, then the Severance Period shall be deemed to have commenced as of the first day of the Consideration Period and Executive shall be entitled to the amounts and benefits set forth in Section 4.2 or 4.3, as the case may be. If Executive does not deliver the original, signed Release to the Company prior to the expiration of the Consideration Period, then:

Appears in 4 contracts

Samples: Employment Agreement (Ascent Media Group Inc), Employment Agreement (Liberty Livewire Corp), Employment Agreement (Ascent Media Group Inc)

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Severance Agreement and Release. In the event that Executive incurs a termination of employment pursuant to (i) a Termination Without Cause (as defined in Section 4.2 above), or (ii) a Termination With Good Reason (as defined in Section 4.3 above), payment by the Company of the amounts described in said sections shall be subject to the execution by Executive of the Company's ’s standard severance agreement and release (the "Release"). The Release shall be delivered to Executive, in the case of a Termination Without Cause, at the time of delivery of the Termination Notice, and, in the case of a Termination With Good Reason, upon delivery of written notice by the Executive to the Company. Executive shall have a period of thirty 21 days (30or, if required by applicable law, a period of 45 days) days after the effective date of termination of this Agreement (the "Consideration Period") in which to execute and return the original, signed Release to the Company. If Executive delivers the original, signed Release to the Company prior to the expiration of the Consideration Period, then the Severance Reimbursement Period shall be deemed to have commenced as of the first day of the Consideration Period and Executive shall be entitled to the amounts and benefits set forth in Section 4.2 or 4.3, as the case may be. If Executive does not deliver the original, signed Release to the Company prior to the expiration of the Consideration Period, then:

Appears in 2 contracts

Samples: Employment Agreement (Ascent Capital Group, Inc.), Employment Agreement (Ascent Capital Group, Inc.)

Severance Agreement and Release. In the event that Executive incurs a termination of employment pursuant to (i) a Termination Without Cause (as defined in Section 4.2 above), or (ii) a Termination With Good Reason (as defined in Section 4.3 above), payment by the Company of the amounts described in said sections shall be subject to the execution by Executive of the Company's ’s standard severance agreement and release (the "Release"). The Release shall be delivered to Executive, in the case of a Termination Without Cause, at the time of delivery of the Termination Notice, and, in the case of a Termination With Good Reason, upon delivery of written notice by the Executive to the Company. Executive shall have a period of thirty twenty-one (3021) days (or, if required by applicable law, a period of forty-five (45) days) after the effective date of termination of this Agreement (the "Consideration Period") in which to execute and return the original, signed Release to the Company. If Executive delivers the original, signed Release to the Company prior to the expiration of the Consideration Period, then the Severance Reimbursement Period shall be deemed to have commenced as of the first day of the Consideration Period and Executive shall be entitled to the amounts and benefits set forth in Section 4.2 or 4.3, as the case may be. If Executive does not deliver the original, signed Release to the Company prior to the expiration of the Consideration Period, then:

Appears in 1 contract

Samples: Employment Agreement (Ascent Media CORP)

Severance Agreement and Release. In the event that Executive incurs a termination of employment pursuant to (i) a Termination Without Cause (as defined in Section 4.2 above), or (ii) a Termination With Good Reason (as defined in Section 4.3 above), payment by the Company of the amounts described in said sections shall be subject to the execution by Executive of the Company's ’s standard severance agreement and release (the "Release"). The Release shall be delivered to Executive, in the case of a Termination Without Cause, at the time of delivery of the Termination Notice, and, in the case of a Termination With Good Reason, upon delivery of written notice by the Executive to the Company. Executive shall have a period of thirty twenty-one (3021) days after the effective date of termination of this Agreement (the "Consideration Period") in which to execute and return the original, signed Release to the Company. If Executive delivers the original, signed Release to the Company prior to the expiration of the Consideration Period, then the Severance Reimbursement Period shall be deemed to have commenced as of the first day of the Consideration Period and Executive shall be entitled to the amounts and benefits set forth in Section 4.2 or 4.3, as the case may be. If Executive does not deliver the original, signed Release to the Company prior to the expiration of the Consideration Period, then:

Appears in 1 contract

Samples: Employment Agreement (Ascent Media CORP)

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Severance Agreement and Release. In the event that Executive Employee incurs a termination of employment pursuant to (i) a Termination Without Cause (as defined in Section 4.2 7(b) above), or (ii) a Termination With Good Reason (as defined in Section 4.3 7(c) above), payment by the Company of the amounts described in said sections shall be subject to the execution by Executive Employee of the Company's standard severance agreement and release (the "Release"), a copy of which is attached hereto as Exhibit "A" and made a part hereof. The Release shall be delivered to ExecutiveEmployee, in the case of a Termination Without Cause, at the time of delivery of the Termination Notice, and, in the case of a Termination With Good Reason, upon delivery of written notice by the Executive Employee to the Company. Executive Employee shall have a period of thirty (30) days after the effective date of termination of this Agreement (the "Consideration Period") in which to execute and return the original, signed Release to the Company. If Executive Employee delivers the original, signed Release to the Company prior to the expiration of the Consideration Period, then the Severance Period shall be deemed to have commenced as of the first day of the Consideration Period and Executive Employee shall be entitled to the amounts and benefits set forth in Section 4.2 7(b) or 4.37(c), as the case may be. If Executive Employee does not deliver the original, signed Release to the Company prior to the expiration of the Consideration Period, then:

Appears in 1 contract

Samples: Employment Agreement (Positron Corp)

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