Severance Employee definition
Examples of Severance Employee in a sentence
In consideration for the payment of Special Severance, Employee agrees to the terms and provisions set forth in this Release.
Upon Severance, Employee shall immediately turn over to the Company all Company property and other materials generated by Employee during employment or used by Employee in connection with employment at the Company or any of its predecessors, including copies thereof, in Employee's possession or control.
As a condition to the payment of Severance, Employee will execute a complete release in the form of Exhibit A.
Upon Severance, Employee shall immediately turn over to the Company all Company property and other materials generated by Employee during employment or used by Employee in connection with employment at the Company or any of its predecessors, including copies thereof, in Employee's possession or control except as noted in Section III.7 above.
In consideration of the Company’s willingness to enter into this Agreement and the payment of compensation for the Transition Services and, as applicable, the Severance, Employee agrees to execute and deliver, within twenty-one (21) days (or forty-five (45) days if necessary to comply with applicable law) following the Termination Date, a general release in the form attached as Exhibit A.
With regard to the amount of the Bonus Severance, Employee will be treated exactly as, i.e., given the arithmetic mean of the salary percentage awarded to the following other Company officers, Chief Executive Officer, Chief Scientific Officer, Chief Financial Officer and Chief Legal Officer, who have been employed at Company for a full calendar year.
As a condition of receiving this Severance, Employee must (i) comply with all provisions of this Agreement and any other obligations owed to the Company; and (ii) sign the General Release attached as Exhibit B after employment ends and not rescind any portion thereof.
For the sake of clarity, on the Date of Termination prior to the receipt of the Fixed Severance, Employee (or her heirs, executors, administrators or personal representatives, as applicable) shall execute another general release in the form of Exhibit 2.
As a condition to receipt of Severance, Employee shall sign, deliver and not revoke the U.S. Release Agreement, in the form and substance set forth in Exhibit B, hereto, and the Canadian Release Agreement, in form and substance set forth in Exhibit C hereto, releasing all claims related to Employee’s employment, other than those that cannot be released as a matter of law.
For the avoidance of doubt, to the extent a Severance Employee remains employed by the Company or any of its Subsidiaries beyond the date that is sixty (60) days following the Closing, the obligation of Seller to reimburse the Company pursuant to this Section 10.05 shall terminate with respect to such Severance Employee.