Payment of Separation Benefits. I understand that my employment with Homestore has terminated. Homestore has agreed that if I choose to sign this Release on or after my last day of employment, Homestore will pay me severance pursuant to Section 8(b) of my Employment Agreement (the "Employment Agreement") with Homestore dated March 6, 2002 (the "Severance Benefits"). I understand that I am not entitled to these Severance Benefits unless I sign this Release. I understand that in addition to the Severance Benefits and regardless of whether I sign this Release, Homestore will pay me all of my accrued salary and vacation earned through my date of termination and any remaining unpaid balance of my sign-on bonus, as well as all other amounts due to me now or in the future under my Employment Agreement or under any other arrangement or agreement with Homestore and Employee may exercise any option pursuant to the terms of the Employment Agreement.
Payment of Separation Benefits. (a) In return for Executive’s execution and nonrevocation of and compliance with this Agreement, including the release that forms a material part of this Agreement, Company shall pay Executive, an amount equal to $2,800,000, subject to deductions for state and federal withholding tax, social security and other employee taxes and payroll deductions. The payment will be made in a single lump sum on Company’s first regularly scheduled pay date that occurs after the Effective Date.
Payment of Separation Benefits. Executive hereby understands and agrees that Executive’s employment with the Company has terminated. The Company has agreed that if Executive chooses to sign this Release on or after Executive’s last day of employment, the Company will provide Executive separation benefits (the “Separation Benefits”) pursuant to the Company’s Retention and Severance Agreement for Executive Officers (the “Agreement”). Executive understands that Executive is not entitled to these Separation Benefits unless Executive signs this Release. Executive agrees to waive or terminate Executive’s rights to any cash severance or option or restricted stock acceleration or continued vesting under any agreement other than the Agreement (whether written or oral). This Release and the Agreement contain the entire understanding of the Company and Executive with respect to cash severance or option or restricted stock acceleration or continued vesting and supersede any prior agreements with respect to these matters. Executive understands that in addition to the Separation Benefits and regardless of whether Executive signs this Release, the Company will pay Executive all of Executive’s accrued salary and vacation earned through Executive’s date of termination.
Payment of Separation Benefits. I understand that my employment ------------------------------ with Oak Technology has terminated. Oak Technology has agreed that if I choose to sign this Release on or after my last day of employment, Oak Technology will provide me separation benefits pursuant to Oak Technology, Inc. Retention and Severance Plan (the "Plan") and the Agreement of Plan Participation (the ---- "Agreement") dated May 6, 2002 (the "Separation Benefits"). I understand that --------- ------------------- I am not entitled to these Separation Benefits unless I sign this Release. Executive agrees to waive or terminate his or her rights to any cash severance or option or restricted stock acceleration or continued vesting under any agreement other than the Agreement (whether written or oral) with Oak Technology that provides that upon a change of control or termination of employment Executive would be entitled to receive any cash severance or acceleration or continued vesting. This Release, the Plan and the Agreement contain the entire understanding of Oak Technology and Executive with respect to cash severance or option or restricted stock acceleration or continued vesting and supercede any prior agreements with respect to these matters. I understand that in addition to the Separation Benefits and regardless of whether I sign this Release, Oak Technology will pay me all of my accrued salary and vacation earned through my date of termination and any remaining unpaid balance of my sign-on bonus.
Payment of Separation Benefits. I understand that my employment with Cellegy has terminated. Cellegy has agreed that if I choose to sign this Release on or after my last day of employment, Cellegy will provide me separation benefits (the “Separation Benefits”) set forth in pursuant to the employment letter agreement between Cellegy and me dated , 2004 (the “Agreement”). I understand that I am not entitled to these Separation Benefits unless I sign this Release. Employee agrees to waive or terminate his or her rights to any cash severance or option or restricted stock acceleration or continued vesting under any agreement, other than as described in the Agreement (whether written or oral), with Cellegy that provides that upon a change of control or termination of employment Employee would be entitled to receive any cash severance or acceleration or continued vesting. This Release and the Agreement contain the entire understanding of Cellegy and Employee with respect to cash severance or option or restricted stock acceleration or continued vesting and supersede any prior agreements with respect to these matters. I understand that in addition to the Separation Benefits and regardless of whether I sign this Release, Cellegy has paid me all of my accrued salary and vacation earned through my date of termination and any remaining unpaid balance of my bonus that I am entitled to receive and that has not been paid. 2.
Payment of Separation Benefits. The Separation Benefits provided in paragraph 1 shall be made to CEO on the eighth (8th) day after CEO's execution of this Agreement.
Payment of Separation Benefits. The Company has agreed that if Employee signs this Release, it will provide Employee the benefits (the "Separation Benefits") set forth in the Confidential Agreement and General Release of Claims entered into by the parties as of September 10, 2001 (the "Separation Agreement"). Employee understands that he is not entitled to those Separation Benefits unless he signs this Release. Employee understands that in addition to the Separation Benefits the Company will pay him all of his accrued salary and vacation, to which Employee is entitled by law.
Payment of Separation Benefits. Except as otherwise required by law, or unless otherwise mutually agreed by the Parties, the severance pay referenced in Section 6.5.1(b) shall be paid by the Company to Employee as follows: (a) the amount set forth in 6.5.1(b)(i) shall be paid in equal installments over the course of the severance period in accordance with the Company’s standard payroll practices, and subject to any applicable taxes, withholdings and payroll deductions, beginning on the first regular payroll date following the effective date of the Separation Agreement; (b) the amount set forth in Section 6.5.1(b)(ii) shall be paid when the Annual Bonus payment would have been due for the year in which the termination became effective. Any equity awards can only be exercised pursuant to the terms and payment schedule of the underlying plans and programs.
Payment of Separation Benefits. Excite@Home has agreed that if ------------------------------ Employee signs this Release and signs an additional release on or after his last day of employment, it will provide Employee the benefits (the "Separation Benefits") set forth in Employee's Confidential Agreement and General Release of Claims dated April 23, 2001 (the "Separation Agreement"). Employee understands that he is not entitled to these Separation Benefits unless he signs this Release. Employee understands that in addition to the Separation Benefits the Company will pay him all of his accrued salary and vacation, to which Employee is entitled by law.
Payment of Separation Benefits. The Company shall pay to Employee a severance payment in a lump sum amount of $491,809 and provide the following benefits, subject to the Employee satisfying all specified conditions described herein: - Group Health/Dental Plan ("Health Plan") coverage for 18 months for Employee and spouse at no monthly contribution cost to Employee, subject to the terms and limitations contained in the Employment Agreement and further subject to the terms of the Health Plan. Spouse will only be eligible for this provision if she remains married to Employee throughout the time period. - Outplacement Services (capped at $15,000). Company will select the outplacement firm. - Company will extend the vesting dates for stock option grants through September 30, 2005 and the expiration dates for such stock option grants will remain in effect consistent with the information contained in the optionee statement dated December 31, 2002. Both of these benefits are subject to Board approval. - The Company agrees to waive, in its entirety, and without reservation, Section 17 of the Employment Agreement. Section 17 specifically pertains to a one year restrictive covenant imposed against the Employee, effective on the termination date, for performing any similar duties as those performed while at the company, either directly or indirectly, for customers of the company, or any affiliate or any business entity that sells, provides or develops products or services competitive with any products or services sold, provided or developed by the company or any affiliate. Notwithstanding the waiving of Section 17 in its entirety, all other restrictions contained in the Employment Agreement remain in full force and effect. Payment of the lump sum will be subject to normal payroll taxes and shall be mailed to Employee as soon as administratively feasible after his employment is terminated.
