Severance Terms definition
Examples of Severance Terms in a sentence
For services to be rendered hereunder, Executive shall receive a base salary as set forth in Section 1 of the Compensation and Severance Terms Schedule, attached hereto as Exhibit A.
If the Company terminates Executive’s employment at any time without Cause, Executive shall be entitled to severance benefits as set forth in Section 4.1 of the Compensation and Severance Terms Schedule, attached hereto as Exhibit A.
For services to be rendered hereunder, Executive shall receive a base annual salary as set forth in Section 1 of the Compensation and Severance Terms Schedule, attached hereto as Exhibit A.
Subject to the Executive’s compliance with the terms and conditions of this Agreement, the Executive shall be entitled to the payments and benefits described in the Severance Terms attached as Exhibit A to this Agreement (the “Severance Terms”).
If the Company terminates Executive’s employment at any time without Cause, Executive shall be entitled to those severance benefits specifically set forth in Section 3.1 of the Compensation and Severance Terms Schedule, attached hereto as Exhibit A.
If the Company terminates Executive's employment at any time without Cause, Executive shall be entitled to severance benefits as set forth in Section 4.1 of the Compensation and Severance Terms Schedule, attached hereto as Exhibit A.
Individuals receiving severance other than in connection with a Relocation Request more than 90 days but less than 365 days after the Closing shall receive the greater of (X) severance pursuant to the terms of the Severance Terms attached hereto as Exhibit N, and (Y) such severance as is required by applicable law; provided, however, that this provision shall not result in duplication of benefits regarding severance with respect to Continuing Employees as provided in the preceding sentence.
The Executive agrees that if he breaches any of the terms of paragraphs (including subparagraphs) 3 through 7, it shall constitute a material breach of this Agreement as to which the MBIA Entities and Persons may seek all available relief under law, including, but not limited to, recoupment of the amounts paid to the Executive pursuant to the Severance Terms.
I hereby acknowledge receipt of the Summary of Severance Terms (the “Severance Summary”) which is annexed hereto.
To the extent necessary to comply with Section 409A, any references to the termination of Executive’s employment with the Company or similar terms in this Agreement (or as relates to the Severance Terms under the Employment Agreement) will mean Executive’s separation from service, within the meaning of Section 409A, with the Company.