Common use of Additional Severance Pay Clause in Contracts

Additional Severance Pay. Premier shall pay you a semi-monthly amount of $608.17 for a twelve (12) month period following your Separation Date and this Agreement’s Effective Date, whichever occurs later, less applicable withholdings as required by law, for use in paying COBRA premium expenses or as you otherwise deem appropriate, in your sole discretion (the “Additional Severance Pay”). The total pre-withholding amount payable under this provision is equal to $14,596 and is generally equivalent to the amount Premier would have otherwise paid for continued health insurance coverage for you and your dependents if you had remained an active employee during this payment period.

Additional Severance Pay. Premier shall pay you a semi-monthly amount of $608.17 578.24 for a twelve ten (1210) month period following your Separation Date and this Agreement’s Effective Date, whichever occurs later, less applicable withholdings as required by law, for use in paying COBRA premium expenses or as you otherwise deem appropriate, in your sole discretion (the “Additional Severance Pay”). The total pre-withholding amount payable under this provision is equal to $14,596 11,564.80 and is generally equivalent to the amount Premier would have otherwise paid for continued health insurance coverage for you and your dependents if you had remained an active employee during this payment period.