Amount of Severance Pay. During the Continuation Period, the Company shall pay the Employee Severance Pay at an annual rate equal to the Employee's base compensation at the annual rate in effect on the date when the termination of his employment with the Company is effective. Such amount shall be paid pro-rata at periodic intervals in accordance with the Company's standard payroll procedures.
Appears in 3 contracts
Sources: Severance Agreement (Essential Therapeutics Inc), Severance Agreement (Microcide Pharmaceuticals Inc), Severance Agreement (Essential Therapeutics Inc)
Amount of Severance Pay. During the Continuation Period, the Company shall pay the Employee Severance Pay at an annual rate equal to the Employee's base compensation at the annual rate in effect on the date when the termination of his employment with the Company is effective. Such amount shall be paid pro-rata at periodic intervals in accordance with the Company's standard payroll procedures.
Appears in 3 contracts
Sources: Severance Agreement (Essential Therapeutics Inc), Severance Agreement (Essential Therapeutics Inc), Severance Agreement (Essential Therapeutics Inc)
Amount of Severance Pay. During the Continuation Period, the Company shall pay the Employee Severance Pay at an annual rate equal to the Employee's ’s base compensation at the annual rate in effect on the date 30 days prior to the date when the termination of his employment with the Company is effective. Such amount shall be paid pro-rata at periodic intervals in accordance with the Company's ’s standard payroll procedures.
Appears in 1 contract