Conditions to Receipt of Severance Benefits Contract Clauses (98)

Conditions to Receipt of Severance Benefits. To be eligible for the Severance Benefits pursuant to Section 7.2 above, Executive must satisfy the following release requirement (the "Release Requirement"): return to the Company a signed and dated general release of all known and unknown claims in a termination agreement acceptable to the Company (the "Release") within the applicable deadline set forth therein, but in no event later than forty-five (45) calendar days following Executive's termination date, and permit the Release to become eff...ective and irrevocable in accordance with its terms (such effective date of the Release, the "Release Effective Date"). No Severance Benefits will be provided hereunder prior to the Release Effective Date. Accordingly, if Executive refuses to sign and deliver to the Company an executed Release or signs and delivers to the Company the Release but exercises Executive's right, if any, under applicable law to revoke the Release (or any portion thereof), then Executive will not be entitled to any severance, payment or benefit under this Agreement. View More

Conditions to Receipt of Severance Benefits. In order to receive any Severance Benefits, the termination of Executive's employment must constitute a "separation from service" (as defined under Treasury Regulation Section 1.409A-1(h), without regard to any alternative definition thereunder, a "Separation from Service"), and Executive must be in compliance with the terms of this Agreement. Further, the receipt of the Severance Benefits will be conditioned on Executive signing, not revoking, and complying with a separation agreement and relea...se of claims in a form reasonably satisfactory to the Company (the "Separation Agreement"). No Severance Benefits will be paid or provided until the Separation Agreement becomes effective. View More

Conditions to Receipt of Severance Benefits. The receipt of the Severance Benefits provided in Section 6.3 and Section 6.4 above will be subject to Executive signing and not revoking a separation agreement and release of claims in a form reasonably satisfactory to the Company (the "Separation Agreement") within the time period set forth therein, which shall not exceed 50 days from the date of Executive's Separation from Service (the "Release Period"). No Severance Benefits will be paid or provided until the Separation Agreement becomes eff...ective. If the Release Period described in the preceding sentence spans two calendar years, then payment of Severance Benefits will in any event commence in the second calendar year. Executive shall also resign from all positions and terminate any relationships as an employee, advisor, officer or director with the Company and any of its affiliates, each effective on the date of termination. View More

Conditions to Receipt of Severance Benefits. Prior to and as a condition to your (or your estate's, as applicable) receipt of the Severance Benefits described above, you (or your estate, as applicable) shall execute and deliver to the Company an executive release of claims in favor of and in a form that is customary for similarly situated executives and reasonably acceptable to the Company (the "Release") within the timeframe set forth therein, but not later than forty-five (45) days following your Separation from Service Date, and allow t...he Release to become effective according to its terms (by not invoking any legal right to revoke it) within any applicable time period set forth therein (such latest permitted effective date, the "Release Deadline"). View More

Conditions to Receipt of Severance Benefits. 8.1. Release Agreement. Notwithstanding any contrary Plan provision, as a condition to receiving any Severance Benefits, a Participant (or, after a Participant's death, an authorized representative of the Participant's estate) will be required to sign and not revoke a separation and release of claims agreement in a form reasonably satisfactory to the Company (the "Release"). In all cases, the Release must become effective and irrevocable no later than the sixtieth (60th) day following the Partic...ipant's Involuntary Termination (the "Release Deadline Date"). If the Release does not become effective and irrevocable by the Release Deadline Date, the Participant will forfeit any right to any Severance Benefits. In no event will any Severance Benefits be paid or provided to the Participant until the Release becomes effective and irrevocable. 8.2. Other Requirements. A Participant's receipt of Severance Benefits will be subject to the Participant continuing to comply with the provisions of the Participant's Release and the terms of any confidentiality, proprietary information and inventions agreement and any other written agreement or agreements between the Participant and the Employer under which the Participant has a material duty or obligation to the Employer. Any Severance Benefits will terminate immediately for a Participant if the Participant, at any time, violates any such agreement and/or his or her Release, and Participant will be obligated to repay all Severance Benefits paid or provided to the Participant. 6 9. Timing of Severance Benefits. Except as otherwise provided in a Participant's Participation Agreement and subject to Section 11, any Severance Benefits that are payable to a Participant in cash will be paid (or in the case of Severance Benefits scheduled to be paid in installments, will commence) on the first Employer payroll date following the Release Deadline Date (such payment date, the "Severance Start Date"), with any payments due thereafter to be made as provided in this Plan or the applicable Participation Agreement. View More