Examples of Severance Payment Date in a sentence
Any installments of the Severance Payments that, in accordance with customary payroll practices, would have typically been made during the Release Consideration Period shall accumulate and shall then be paid on the Initial Severance Payment Date.
In addition, the Executive shall be paid, in a single lump-sum payment on the Severance Payment Date, an amount equal to the Executive’s full Target Bonus for the fiscal year in which the Date of Termination occurs (the “Bonus Severance”).
Any installments of the COBRA Payment that, in accordance with customary payroll practices, would have typically been made during the Release Consideration Period shall accumulate and shall then be paid on the Initial Severance Payment Date.
In addition, the Executive shall be paid, in a single lump-sum payment on the Severance Payment Date, an amount equal to the Executive’s full Target Bonus for the fiscal year in which the Date of Termination occurs.
In addition to the payment obligations described in the preceding sentence, if the Executive’s employment is terminated by the Company without Cause but not within the Protected Period (as defined below), or if the Executive resigns for Good Reason but not within the Protected Period, or the Company does not renew the Term of the Agreement as provided in Section 1, subject to Section 4(f) below, on the Initial Severance Payment Date, all unvested awards granted to the Executive under the MIP shall vest.