Separation Date definition
Examples of Separation Date in a sentence
During the time between the Effective Date and the Separation Date (the “Transition Period”), Consultant agrees, and shall use its best efforts, to provide the services set forth in Exhibit A hereto, as may be requested, required, or amended, from time to time, by the Company (the “Services”).
Consultant shall be entitled to reimbursement for all reasonable business expenses incurred through the Separation Date that were preapproved in writing by the Company, in accordance with the Company’s expense reimbursement policy.
Upon presentment by Consultant of appropriate and sufficient documentation, the Company shall reimburse Consultant for all such expenses within thirty (30) days following the later of (i) the Separation Date or (ii) timely submission of proper documentation in accordance with Company policy (but in no event later than the last day of the calendar year following the calendar year in which Consultant incurred the reimbursable expense).
Subject to the effectiveness of the General Release herein, the Company shall pay Consultant a lump-sum cash payment equal to eighteen (18) months of the Consulting Fee ($900,000), payable in a lump sum on the Company’s next regular payment date for payroll following the Separation Date.
Executive hereby acknowledges and agrees that, pursuant to Section 9(d) of the Employment Agreement, as of the Separation Date he shall automatically be deemed to have resigned from all positions he holds as an officer, director or fiduciary of the Company and any other entity that is part of the same consolidated group as the Company or in which capacity Executive serves at the direction of or as a result of his position with the Company.