Common use of Severance Pay and Benefits Clause in Contracts

Severance Pay and Benefits. Subject to the terms and conditions set forth in this Agreement, if Executive’s employment is terminated under Section 2(b) or by non-renewal of this Agreement, then the Company will provide Executive with the following severance pay and benefits (except in the event of a breach of the Release, as defined below); provided, for purposes of Section 409A, each payment of severance pay under this Section 4 shall be considered a separate payment:

Appears in 5 contracts

Samples: Executive Agreement (Penn National Gaming Inc), Executive Agreement (Penn National Gaming Inc), Executive Agreement (Penn National Gaming Inc)

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Severance Pay and Benefits. Subject to the terms and conditions set forth in this Agreement, if Executive’s employment is terminated under Section 2(b) or by non-renewal of this Agreement2(a), then the Company will provide Executive with the following severance pay and benefits (except in the event of a breach of the Release, as defined below); provided, for purposes of Section 409A, each payment of severance pay under this Section 4 shall be considered a separate payment:

Appears in 4 contracts

Samples: Executive Agreement (Penn National Gaming Inc), Executive Agreement (Penn National Gaming Inc), Executive Agreement (Penn National Gaming Inc)

Severance Pay and Benefits. Subject to the terms and conditions set forth in this Agreement, if Executive’s employment is terminated under Section 2(b3(b), under Section 4(b) or by the Company’s non-renewal of Executive’s employment under this AgreementAgreement on substantially-similar terms, then the Company will provide Executive with the following severance pay and benefits (except in the event of a breach of the Release, as defined below); provided, for purposes of Section 409A, each payment of severance pay under this Section 4 5 shall be considered a separate payment:

Appears in 3 contracts

Samples: Executive Agreement (PENN Entertainment, Inc.), Executive Agreement (PENN Entertainment, Inc.), Executive Agreement (PENN Entertainment, Inc.)

Severance Pay and Benefits. Subject to the terms and conditions set forth in this Agreement, if Executive’s employment is terminated under Section 2(b3(b) or by the Company’s non-renewal of Executive’s employment under this AgreementAgreement or substantially-similar terms, then the Company will provide Executive with the following severance pay and benefits (except in the event of a breach of the Release, as defined below); provided, for purposes of Section 409A, each payment of severance pay under this Section 4 5 shall be considered a separate payment:

Appears in 3 contracts

Samples: Executive Agreement (Penn National Gaming Inc), Executive Agreement (PENN Entertainment, Inc.), Executive Agreement (Penn National Gaming Inc)

Severance Pay and Benefits. Subject to the terms The Company and conditions set forth in this Agreement, if Executive’s employment is terminated under Section 2(b) or by non-renewal of this Agreement, then the Company will provide Executive with acknowledge and agree that the following constitutes the severance pay and benefits (except in the event of a breach to which Executive is entitled under Section 4(a) of the Employment Agreement (in addition to the Accrued Benefits and the payments described in paragraph 2 of this Release), as defined below); providedsubject to Executive’s timely execution, for purposes delivery, and nonrevocation of Section 409A, each payment of severance pay under this Section 4 shall be considered a separate paymentRelease:

Appears in 2 contracts

Samples: Separation and Release Agreement (Howard Hughes Corp), Separation and Release Agreement (Howard Hughes Corp)

Severance Pay and Benefits. Subject to the terms and conditions set forth in this Agreement, if Executive’s employment is terminated under Section 2(b3(b) or by non-renewal of this Agreement, then the Company will provide Executive with the following severance pay and benefits (except in the event of a breach of the Release, as defined below); provided, for purposes of Section 409A, each payment of severance pay under this Section 4 5 shall be considered a separate payment:

Appears in 2 contracts

Samples: Executive Agreement (Penn National Gaming Inc), Executive Agreement (Penn National Gaming Inc)

Severance Pay and Benefits. Subject to the terms and conditions set forth in this Agreement, if Executive’s employment is terminated under Section 2(b) or by the Company’s non-renewal of Executive’s employment under this AgreementAgreement or substantially-similar terms, then the Company will provide Executive with the following severance pay and benefits (except in the event of a breach of the Release, as defined below); provided, for purposes of Section 409A, each payment of severance pay under this Section 4 shall be considered a separate payment:

Appears in 2 contracts

Samples: Executive Agreement (Penn National Gaming Inc), Executive Agreement (Penn National Gaming Inc)

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Severance Pay and Benefits. Subject to the terms and conditions set forth in this Agreement, if Executive’s employment is terminated under Section 2(b3(b) or by the Company’s non-renewal of Executive’s employment under this AgreementAgreement on substantially-similar terms, then the Company will provide Executive with the following severance pay and benefits (except in the event of a breach of the Release, as defined below); provided, for purposes of Section 409A, each payment of severance pay under this Section 4 5 shall be considered a separate payment:

Appears in 1 contract

Samples: Executive Agreement (Penn National Gaming Inc)

Severance Pay and Benefits. Subject to the terms and conditions set forth in this Agreement, if Executive’s employment is terminated under Section 2(b) due to the expiration of the Term or by non-renewal by the Company or under Section 3(b) at or before the end of this Agreementthe Term, then the Company will provide Executive with the following severance pay and benefits (except in the event of a breach of the Release, as defined below); provided, for purposes of Section 409A, each payment of severance pay under this Section 4 5 shall be considered a separate payment:

Appears in 1 contract

Samples: Executive Agreement (Penn National Gaming Inc)

Severance Pay and Benefits. Subject to the terms and conditions set forth in this Agreement, if Executive’s employment is terminated under Section 2(b3(b) or by the Company's non-renewal of Executive's employment under this AgreementAgreement or substantially-similar terms, then the Company will provide Executive with the following severance pay and benefits (except in the event of a breach of the Release, as defined below); provided, for purposes of Section 409A, each payment of severance pay under this Section 4 5 shall be considered a separate payment:

Appears in 1 contract

Samples: Executive Agreement (Penn National Gaming Inc)

Severance Pay and Benefits. Subject to the terms and conditions set forth in this Agreement, if Executive’s 's employment is terminated under Section 2(b3(b) or by the Company's non-renewal of Executive's employment under this AgreementAgreement or substantially-similar terms, then the Company will provide Executive with the following severance pay and benefits (except in the event of a breach of the Release, as defined below); provided, for purposes of Section 409A, each payment of severance pay under this Section 4 5 shall be considered a separate payment:

Appears in 1 contract

Samples: Executive Agreement (PENN Entertainment, Inc.)

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