Benefits definition
Examples of Benefits in a sentence
Provision of the COBRA Benefits shall automatically end upon the Executive commencing full-time employment with a subsequent employer.
Executive will not be eligible for, or entitled to any severance benefits, including (without limitation) the Severance Benefits and CIC Severance Benefits listed in Sections 7.2 and 7.3 above, if the Company terminates Executive’s employment for Cause, Executive resigns Executive’s employment without Good Reason, or Executive’s employment terminates due to Executive’s death or disability.
Notwithstanding the foregoing, if Executive is entitled to receive the Separation Benefits but violates any provisions of Sections 7 through 9 hereof after termination of employment, the Company will be entitled to immediately stop paying any further installments of the Separation Benefits, in addition to any other remedies that may be available to the Company in law or at equity.
For the avoidance of doubt, the Parties intend that the Separation Benefits satisfy, to the greatest extent possible, the exemptions from the application of Section 409A provided under Treasury Regulation Sections 1.409A-1(b)(4) and 1.409A-1(b)(9).
No Severance Benefits or CIC Severance Benefits will be paid hereunder prior to the Release Effective Date.