Examples of Severance Payments in a sentence
Employee shall not be entitled to receive the Severance Payments and the Equity Acceleration, or the Change of Control Severance Payments and the Change of Control Equity Acceleration, as applicable, unless Employee executes and returns the Release to the Company, and such Release becomes effective and non-revocable, within sixty (60) days following Employee’s termination of employment (or such shorter period provided for in the Release).
If you breach any of the restrictive covenants set forth in this Section 13, any then-unpaid portion of the Payout, the Alternate Payout, or Severance Payments will be immediately forfeited.
As a condition to the receipt of any and all of the Severance Payments and the Alternate Payout, you shall execute and comply with the terms of a general release of all claims against the Company and its Affiliates and representatives, in form satisfactory to the Company (the “General Release”).
Notwithstanding anything to the contrary contained herein, no Severance Payments or Alternate Payout shall be paid until the General Release is signed and the revocation period has expired, and any amounts that would otherwise have been paid prior to such date shall be paid within a reasonable time after such date, without interest.