Purpose Clause Example from Business Contracts

This example Purpose clause appears in 4 contracts from 4 companies

Purpose. The purpose of the Plan is to establish the conditions under which Covered Employees will receive the severance benefits described herein if employment with the Company (or its successor in a Change in Control) terminates under the circumstances specified herein. The severance benefits paid under the Plan are intended to assist Covered Employees in making a transition to new employment and are not intended to be a reward for prior service with the Company.
Found in Vor Biopharma Inc. contract
Schrodinger, Inc. Contracts

Schrödinger, Inc. Executive Severance and Change in Control Benefits Plan (Filed With SEC on January 10, 2020)

Dyne Therapeutics, Inc. Contracts

Dyne Therapeutics, Inc. Executive Severance and Change in Control Benefits Plan (Filed With SEC on August 25, 2020)

Vor Biopharma Inc. Contracts

Vor Biopharma Inc. Executive Severance and Change in Control Benefits Plan (Filed With SEC on February 1, 2021)

Acacia Communications, Inc. Contracts

Acacia Communications, Inc. Severance and Change in Control Benefits Plan (Filed With SEC on December 21, 2015)