Common use of Severance Benefits not in connection with Change in Control Clause in Contracts

Severance Benefits not in connection with Change in Control. In the event you experience a Separation by the Company for a reason other than for Cause (as defined above), death or Permanent Disability (as defined above) that does not occur in connection with, or within twelve months after, a Change in Control (as defined above), and you have satisfied the Conditions (as defined above) within the Deadline (as defined above), the Company shall continue to pay you (as severance pay), your regular bi-weekly base salary as in effect on the Termination Date (exclusive of bonus or any other compensation), for six (6) months, subject to applicable withholding and according to the Company’s standard payroll schedule, commencing on the Company’s first regular payroll date following the last day of the Deadline.

Appears in 6 contracts

Samples: Micrus Endovascular Corp, Micrus Endovascular Corp, Micrus Endovascular Corp

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Severance Benefits not in connection with Change in Control. In the event you experience a Separation by the Company for a reason other than for Cause (as defined above), death or Permanent Disability (as defined above) that does not occur in connection with, or within twelve months after, a Change in Control (as defined above), and you have satisfied the Conditions (as defined above) within the Deadline (as defined above), the Company shall continue to pay you (as severance pay), your regular bi-weekly base salary as in effect on the Termination Date (exclusive of bonus or any other compensation), for six (6) months, subject to applicable withholding and according to the Company’s 's standard payroll schedule, commencing on the Company’s 's first regular payroll date following the last day of the Deadline.

Appears in 1 contract

Samples: Micrus Endovascular Corp

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