Common use of Severance Amount Clause in Contracts

Severance Amount. The Severance Amount (as defined below) will be subject to all applicable withholdings and will be payable by the Company to the Executive in one lump sum payment on the first regular payroll date following the date that the Release becomes effective and irrevocable or, if any component of the Severance Amount is subject to Section 409A (as defined below), beginning on the first regular Company payroll date after the sixtieth (60th) day following the Termination Date.

Appears in 7 contracts

Sources: Employment Agreement (Ocuphire Pharma, Inc.), Employment Agreement (Helius Medical Technologies, Inc.), Employment Agreement (Helius Medical Technologies, Inc.)

Severance Amount. The Severance Amount (as defined below) will be subject to all applicable withholdings and will be payable by the Company to the Executive in one lump sum payment six (6) equal monthly installments beginning on the first regular payroll date following the date that the Release becomes effective and irrevocable or, if any component of the Severance Amount is subject to Section 409A (as defined below), beginning on the first regular Company payroll date after the sixtieth (60th) day following the Termination Date.

Appears in 4 contracts

Sources: Employment Agreement (NeuroBo Pharmaceuticals, Inc.), Employment Agreement (Ocuphire Pharma, Inc.), Employment Agreement (NeuroBo Pharmaceuticals, Inc.)

Severance Amount. The Severance Amount (as defined below) will be subject to all applicable withholdings and will be payable by the Company to the Executive in one lump sum payment twelve (12) equal monthly installments beginning on the first regular payroll date following the date that the Release becomes effective and irrevocable or, if any component of the Severance Amount is subject to Section 409A (as defined below), beginning on the first regular Company payroll date after the sixtieth (60th) day following the Termination Date.

Appears in 2 contracts

Sources: Employment Agreement (BioPlus Acquisition Corp.), Employment Agreement (BioPlus Acquisition Corp.)

Severance Amount. The Severance Amount (as defined below) will be subject to all applicable withholdings and will be payable by the Company to the Executive in one lump sum payment twelve (12) equal installments beginning on the first regular payroll date following the date that the Release becomes effective and irrevocable or, if any component of the Severance Amount is subject to Section 409A (as defined below)409A, beginning on the first regular Company payroll date after the sixtieth (60th) day following the Termination Date.

Appears in 1 contract

Sources: Employment Agreement (Gemphire Therapeutics Inc.)

Severance Amount. The Severance Amount (as defined below) will be subject to all applicable withholdings and will be payable by the Company to the Executive Employee in one lump sum payment on the first administratively feasible regular payroll date following the date that the Release becomes effective and irrevocable or, if any component of the Severance Amount is subject to Section 409A (as defined below), beginning on the first regular Company payroll date after the sixtieth (60th) day following the Termination Date (but in any event no later than 74 days following the Termination Date).

Appears in 1 contract

Sources: Employment Agreement (Opus Genetics, Inc.)

Severance Amount. The Severance Amount (as defined below) will be subject to all applicable withholdings and will be payable by the Company to the Executive in one lump sum payment six (6) equal monthly installments beginning on the first regular payroll date following the date that the Release becomes effective and irrevocable or, if any component of the Severance Amount is subject to Section 409A (as defined below), beginning on the first regular Company payroll date after the sixtieth (60th) day following the Termination Date (but in any event no later than 74 days following the Termination Date).

Appears in 1 contract

Sources: Employment Agreement (Opus Genetics, Inc.)

Severance Amount. The Severance Amount (as defined below) will be subject to all applicable withholdings and will be payable by the Company to the Executive in one lump sum payment three (3) equal monthly installments beginning on the first regular payroll date following the date that the Release becomes effective and irrevocable or, if any component of the Severance Amount is subject to Section 409A (as defined below), beginning on the first regular Company payroll date after the sixtieth (60th) day following the Termination Date.

Appears in 1 contract

Sources: Employment Agreement (NeuroBo Pharmaceuticals, Inc.)

Severance Amount. The Severance Amount (as defined below) will be subject to all applicable withholdings and will be payable by the Company to the Executive in one lump sum payment nine (9) equal installments beginning on the first regular payroll date following the date that the Release becomes effective and irrevocable or, if any component of the Severance Amount is subject to Section 409A (as defined below)409A, beginning on the first regular Company payroll date after the sixtieth (60th) day following the Termination Date.

Appears in 1 contract

Sources: Employment Agreement (Ocuphire Pharma, Inc.)