Severance Provisions. Effective upon the termination of this Agreement, the Employer will be obligated to pay the Executive (or, in the event of death, his designated beneficiary as defined below) only such compensation as is provided in this Section in settlement and complete release of all claims the Executive may have against the Employer. The Executive acknowledges and agrees that the severance benefits of his employment, under this Section 4 shall be the Executive’s sole remedy in the event of a termination of Executive’s employment.
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Samples: Employment Agreement (GPO Plus, Inc.), Employment Agreement (GPO Plus, Inc.), Employment Agreement (GPO Plus, Inc.)
Severance Provisions. Effective upon the termination of this Agreement, the Employer will be obligated to pay the Executive (or, in the event of death, his her designated beneficiary as defined below) only such compensation as is provided in this Section in settlement and complete release of all claims the Executive may have against the Employer. The Executive acknowledges and agrees that the severance benefits of his her employment, under this Section 4 shall be the Executive’s sole remedy in the event of a termination of Executive’s employment.
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