{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "the-severance-amount", "type": "clause", "offset": [0, 20]}, {"key": "applicable-withholdings", "type": "definition", "offset": [63, 86]}, {"key": "payable-by-the-company", "type": "clause", "offset": [99, 121]}, {"key": "to-the-executive", "type": "clause", "offset": [122, 138]}, {"key": "lump-sum-payment", "type": "definition", "offset": [146, 162]}, {"key": "payroll-date", "type": "definition", "offset": [184, 196]}, {"key": "the-release", "type": "clause", "offset": [221, 232]}, {"key": "section-409a", "type": "definition", "offset": [326, 338]}, {"key": "beginning-on-the", "type": "clause", "offset": [359, 375]}, {"key": "following-the-termination-date", "type": "clause", "offset": [441, 471]}], "snippet": "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.", "size": 18, "samples": [{"hash": "5TDMpqP5AYv", "uri": "/contracts/5TDMpqP5AYv#severance-amount", "label": "Employment Agreement (Ocuphire Pharma, Inc.)", "score": 34.9274482727, "published": true}, {"hash": "lhBJNSGdXux", "uri": "/contracts/lhBJNSGdXux#severance-amount", "label": "Employment Agreement (Helius Medical Technologies, Inc.)", "score": 32.671459198, "published": true}, {"hash": "jRXu1rtBwmL", "uri": "/contracts/jRXu1rtBwmL#severance-amount", "label": "Employment Agreement (Helius Medical Technologies, Inc.)", "score": 32.4524307251, "published": true}], "hash": "58c23715d5426bab5733324e1ad0ec55", "id": 2}, {"snippet_links": [], "snippet": "[_______________].", "size": 9, "samples": [{"hash": "jp35dEtHwC1", "uri": "/contracts/jp35dEtHwC1#severance-amount", "label": "Employment Agreement (Bridgewater Bancshares Inc)", "score": 34.1772766113, "published": true}, {"hash": "fhcmMRCiWRD", "uri": "/contracts/fhcmMRCiWRD#severance-amount", "label": "Employment Agreement (Bridgewater Bancshares Inc)", "score": 34.1772766113, "published": true}, {"hash": "8OZaF6TXK55", "uri": "/contracts/8OZaF6TXK55#severance-amount", "label": "Employment Agreement (Bridgewater Bancshares Inc)", "score": 34.1772766113, "published": true}], "hash": "9aad984e5fcc761aeff2e356fffdbe4b", "id": 6}, {"snippet_links": [{"key": "equal-to", "type": "definition", "offset": [44, 52]}, {"key": "annual-compensation", "type": "clause", "offset": [69, 88]}, {"key": "the-severance-amount", "type": "clause", "offset": [133, 153]}, {"key": "excess-parachute-payment", "type": "definition", "offset": [170, 194]}, {"key": "the-company-shall", "type": "clause", "offset": [276, 293]}, {"key": "pay-to", "type": "definition", "offset": [294, 300]}, {"key": "additional-amount", "type": "definition", "offset": [316, 333]}, {"key": "amount-of-tax", "type": "clause", "offset": [364, 377]}, {"key": "code-section-4999", "type": "clause", "offset": [384, 401]}, {"key": "any-excess", "type": "definition", "offset": [439, 449]}, {"key": "with-respect-to", "type": "clause", "offset": [468, 483]}, {"key": "change-in-control", "type": "clause", "offset": [488, 505]}, {"key": "tax-rate", "type": "clause", "offset": [569, 577]}, {"key": "excise-tax", "type": "clause", "offset": [604, 614]}, {"key": "insurance-tax", "type": "definition", "offset": [631, 644]}, {"key": "state-income-tax", "type": "definition", "offset": [699, 715]}, {"key": "parachute-payments", "type": "clause", "offset": [944, 962]}, {"key": "base-amount", "type": "clause", "offset": [1042, 1053]}, {"key": "received-by", "type": "definition", "offset": [1372, 1383]}, {"key": "capped-amount", "type": "definition", "offset": [1419, 1432]}, {"key": "for-purposes-of-this-section", "type": "clause", "offset": [1599, 1627]}, {"key": "other-calculations", "type": "clause", "offset": [1708, 1726]}, {"key": "other-amounts", "type": "definition", "offset": [1782, 1795]}, {"key": "nationally-recognized", "type": "definition", "offset": [1862, 1883]}, {"key": "federal-income-taxes", "type": "definition", "offset": [1905, 1925]}, {"key": "as-selected", "type": "definition", "offset": [1926, 1937]}, {"key": "the-compensation-committee", "type": "clause", "offset": [1941, 1967]}, {"key": "binding-upon", "type": "clause", "offset": [2018, 2030]}, {"key": "and-the-company", "type": "clause", "offset": [2053, 2068]}], "snippet": "\u2587\u2587. \u2587\u2587\u2587\u2587\u2587\u2587\u2587 shall be paid in cash an amount equal to three times his Annual Compensation (the \u201cSeverance Amount\u201d). If any portion of the Severance Amount constitutes an \u201cexcess parachute payment\u201d (as such term is defined under Code Section 280G (\u201cExcess Parachute Payment\u201d)), the Company shall pay to \u2587\u2587. \u2587\u2587\u2587\u2587\u2587\u2587\u2587 an additional amount calculated by determining the amount of tax under Code Section 4999 that he otherwise would have paid on any Excess Parachute Payment with respect to the Change in Control and dividing such amount by a decimal determined by adding the tax rate under Code Section 4999 (\u201cExcise Tax\u201d), the hospital insurance tax under Code Section 3101(b) (\u201cHI Tax\u201d) and federal and state income tax measured at the highest marginal rates (\u201cIncome Tax\u201d) and subtracting such result from the number one (1) (the \u201c280G Gross-up\u201d); provided, however, that no 280G Gross-up shall be paid unless the Severance Amount plus all other \u201cparachute payments\u201d to \u2587\u2587. \u2587\u2587\u2587\u2587\u2587\u2587\u2587 under Code Section 280G exceeds three (3) times \u2587\u2587. \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2019\u2587 \u201cbase amount\u201d (as such term is defined under Code Section 280G (\u201cBase Amount\u201d)) by ten percent (10%) or more; provided further, that if no 280G Gross-up is paid, the Severance Amount shall be capped at three (3) times \u2587\u2587. \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2019\u2587 Base Amount, less all other \u201cparachute payments\u201d (as such term is defined under Code Section 280G) received by \u2587\u2587. \u2587\u2587\u2587\u2587\u2587\u2587\u2587, less one dollar (the \u201cCapped Amount\u201d), if the Capped Amount, reduced by HI Tax and Income Tax, exceeds what otherwise would have been the Severance Amount, reduced by HI Tax, Income Tax and Excise Tax. 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"initial-public-offering", "type": "clause", "offset": [2856, 2879]}, {"key": "subject-to-section", "type": "clause", "offset": [2902, 2920]}, {"key": "to-receive", "type": "definition", "offset": [2955, 2965]}, {"key": "in-lieu-of", "type": "clause", "offset": [3004, 3014]}, {"key": "severance-benefits", "type": "clause", "offset": [3131, 3149]}, {"key": "severance-pay-plan", "type": "definition", "offset": [3187, 3205]}, {"key": "receives-payment", "type": "definition", "offset": [3307, 3323]}], "snippet": "If the Company is required to pay Executive severance by the express terms of Section 7(a) or 7(b), the Company shall pay Executive the following as severance:\n(1) Executive's Base Salary at the highest rate in effect prior to the Termination Date as salary continuation for a period of eighteen months commencing on the date on which Executive's employment with the Company is terminated (the \"TERMINATION DATE\") (the \"SEVERANCE PERIOD\"), payable in equal monthly installments pursuant to the Company's customary payroll practices for executive salaries; provided, however, that, at the option of the Company, the amounts payable under this Section 7(c) may be paid by the Company in one lump sum.\n(2) Executive, Executive's spouse, and Executive's dependents will continue to be eligible for coverage under the Company's group health plan or any successor plan on the same basis as active executive employees of the Company, their spouses, and their dependents for the duration of the Severance Period. If and when group health coverage under another employer's plan is made available to Executive, Executive's spouse, or Executive's dependents, the Company's obligations under this paragraph will cease with respect to each person to whom such coverage is made available, notwithstanding that such person may not in fact become covered under such other employer's plan. Executive's portion of the premium for such coverage shall be withheld from the salary continuation payments described in paragraph (1) immediately above or, if salary continuation has been paid in a lump sum, Executive shall reimburse the Company for Executive's portion of the premium on a monthly basis.\n(3) An amount equal to the sum of amounts paid or payable to Executive as bonuses by the Company for the year prior to the year in which the Termination Date occurs. This amount will be payable in one lump sum, to Executive within 30 days after the end of the Severance Period.\n(4) Executive shall become 100% vested in all of the shares of restricted stock granted to Executive under the Mariner Energy, Inc. Equity Participation Plan to the extent Executive is less than 100% vested in such shares as of the Termination Date.\n(5) Executive shall become 50% vested in all of the rights and interests granted to Executive under the Company's stock and other equity plans (other than the Mariner Energy, Inc. Equity Participation Plan), including without limitation any stock options, restricted stock, restricted stock units, performance units, and/or performance shares to the extent Executive is less than 50% vested in such award as of the Termination Date.\n(6) Notwithstanding any other provision hereof, if the Company incurs an obligation to pay severance under this Section 7(c) in connection with the termination of Executive's employment after the consummation of an initial public offering by the Company, then, subject to Section 7(h), Executive shall be entitled to receive the amounts specified in Section 8(a) in lieu of the amounts specified in Sections 7(c)(1) and 7(c)(3).\n(7) Payments under this Section 7(c) shall be in lieu of any severance benefits otherwise due to Executive under any severance pay plan or program maintained by the Company that covers its employees or executives generally. If Executive receives payment under Section 8(a), payments otherwise payable under Section 7(c)(1) shall terminate.", "size": 40, "samples": [{"hash": "g0rf1aLLlsf", "uri": "/contracts/g0rf1aLLlsf#severance-amount", "label": "Employment Agreement (Mariner Energy Resources, Inc.)", "score": 18.0, "published": true}, {"hash": "92XqG1NF3sy", "uri": "/contracts/92XqG1NF3sy#severance-amount", "label": "Employment Agreement (Mariner Energy Resources, Inc.)", "score": 18.0, "published": true}, {"hash": "6mHcJJQUmM4", "uri": "/contracts/6mHcJJQUmM4#severance-amount", "label": "Employment Agreement (Mariner Energy Inc)", "score": 18.0, "published": true}], "hash": "9c904e2827bb15681e90ea5ebe1c8dab", "id": 1}, {"snippet_links": [{"key": "the-company-shall", "type": "clause", "offset": [0, 17]}, {"key": "the-executive", "type": "clause", "offset": [22, 35]}, {"key": "lump-sum-amount", "type": "clause", "offset": [38, 53]}, {"key": "equal-to", "type": "definition", "offset": [54, 62]}, {"key": "the-severance-amount", "type": "clause", "offset": [63, 83]}, {"key": "subject-to-section", "type": "clause", "offset": [85, 103]}, {"key": "after-the-termination-date", "type": "clause", "offset": [192, 218]}], "snippet": "The Company shall pay the Executive a lump sum amount equal to the Severance Amount. Subject to Section 3(c)(iii) above, the Severance Amount shall be paid on the date that is sixty (60) days after the Termination Date (or upon the Executive\u2019s death, if earlier).", "size": 14, "samples": [{"hash": "cVmvjfUEGbq", "uri": "/contracts/cVmvjfUEGbq#severance-amount", "label": "Employment Agreement (Gemphire Therapeutics Inc.)", "score": 30.2073917389, "published": true}, {"hash": "bv68cCC1Ini", "uri": "/contracts/bv68cCC1Ini#severance-amount", "label": "Employment Agreement (Twinlab Consolidated Holdings, Inc.)", "score": 29.5448322296, "published": true}, {"hash": "dUiCRbi1lAL", "uri": "/contracts/dUiCRbi1lAL#severance-amount", "label": "Employment Agreement (Twinlab Consolidated Holdings, Inc.)", "score": 27.7351131439, "published": true}], "hash": "5d46b63e8048e60bbafd1ec984d335df", "id": 4}, {"snippet_links": [{"key": "within-thirty", "type": "clause", "offset": [0, 13]}, {"key": "days-after", "type": "definition", "offset": [19, 29]}, {"key": "date-of-termination", "type": "clause", "offset": [34, 53]}, {"key": "the-company-shall", "type": "clause", "offset": [55, 72]}, {"key": "to-the-executive", "type": "clause", "offset": [77, 93]}, {"key": "severance-pay", "type": "definition", "offset": [97, 110]}, {"key": "lump-sum", "type": "definition", "offset": [116, 124]}, {"key": "equal-to", "type": "definition", "offset": [145, 153]}, {"key": "of-the-executive", "type": "clause", "offset": [172, 188]}, {"key": "annual-base-salary", "type": "clause", "offset": [204, 222]}, {"key": "target-bonus", "type": "clause", "offset": [228, 240]}, {"key": "the-year", "type": "definition", "offset": [245, 253]}, {"key": "change-in-control-date", "type": "definition", "offset": [267, 289]}, {"key": "cash-incentive-plan", "type": "definition", "offset": [327, 346]}], "snippet": "Within thirty (30) days after the Date of Termination, the Company shall pay to the Executive as severance pay in a lump sum, in cash, an amount equal to 1.5 times the sum of the Executive\u2019s then-current Annual Base Salary plus Target Bonus for the year in which the Change in Control Date occurs. Payments under any long term cash incentive plan are not part of or included in this calculation.", "size": 9, "samples": [{"hash": "lrv5akt2N4Y", "uri": "/contracts/lrv5akt2N4Y#severance-amount", "label": "Termination Compensation Agreement (Rehabcare Group Inc)", "score": 22.1581115723, "published": true}, {"hash": "6yQPGiqHaTK", "uri": "/contracts/6yQPGiqHaTK#severance-amount", "label": "Termination Compensation Agreement (Rehabcare Group Inc)", "score": 21.0, "published": true}, {"hash": "cLqDWgIb3DB", "uri": "/contracts/cLqDWgIb3DB#severance-amount", "label": "Termination Compensation Agreement (Rehabcare Group Inc)", "score": 18.0, "published": true}], "hash": "325827b7d175823264113dc99d03e3af", "id": 7}, {"snippet_links": [{"key": "the-company-shall", "type": "clause", "offset": [0, 17]}, {"key": "the-executive", "type": "clause", "offset": [22, 35]}, {"key": "lump-sum-amount", "type": "clause", "offset": [38, 53]}, {"key": "equal-to", "type": "definition", "offset": [54, 62]}, 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"title": "Severance Amount", "id": "severance-amount", "related": [["severance-payment", "Severance Payment", "Severance Payment"], ["severance-payments", "Severance Payments", "Severance Payments"], ["severance-benefit", "Severance Benefit", "Severance Benefit"], ["severance-pay", "Severance Pay", "Severance Pay"], ["change-of-control-severance-benefits", "Change of Control Severance Benefits", "Change of Control Severance Benefits"]], "related_snippets": [], "updated": "2026-01-22T05:43:19+00:00", "also_ask": ["What negotiation levers can increase or decrease the severance amount?", "Which drafting elements are essential to ensure the severance amount is enforceable?", "What are the most common legal pitfalls or ambiguities in severance amount clauses?", "How does this severance amount compare to statutory or market standards?", "What factors do courts consider when assessing the fairness of a severance amount?"], "drafting_tip": "Specify the calculation method, define payment timing, and clarify tax treatment to ensure clarity, prevent disputes, and comply with legal requirements.", "explanation": "The Severance Amount clause defines the specific payment or benefits an employee is entitled to receive upon termination of employment under certain conditions, such as without cause or due to a company restructuring. Typically, this clause outlines how the severance is calculated\u2014often based on factors like length of service, salary, or position\u2014and may include additional benefits such as continued health coverage or outplacement assistance. Its core function is to provide financial security to the departing employee while also clarifying the employer\u2019s obligations, thereby reducing the risk of disputes related to termination compensation."}, "json": true, "cursor": ""}}