Severance Clause Example from Business Contracts

This example Severance clause appears in 4 contracts from 1 company

Severance. You will participate in the Company's Change in Control and Severance Policy (the "Policy"). The Policy and a participation agreement thereunder (the "Participation Agreement") will specify the severance payments and benefits you will become entitled to receive in connection with certain qualifying terminations of your employment with the Company. These protections will supersede all other severance payments and benefits to which you otherwise may be entitled, or may become entitled in the futur...e, under any plan, program or policy that the Company may have in effect from time to time. For purposes of clarification, any severance plans, programs, agreements or arrangements that may have applied to you before the Effective Date no longer will apply and you no longer will have any rights or entitlements under any such plans, programs, agreements or arrangements. View More