No Severance Payments Clause Samples
The "No Severance Payments" clause establishes that an employee will not be entitled to receive any severance compensation upon the termination of their employment. In practice, this means that if the employment relationship ends—whether due to resignation, dismissal, or other reasons—the employer is not obligated to provide additional payments beyond what is legally required, such as final wages or accrued benefits. This clause is primarily used to limit the employer's financial obligations and to clarify that no extra compensation will be provided upon termination, thereby reducing potential disputes over severance entitlements.
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No Severance Payments. No severance, “golden parachute” or other similar payments have been made or are due to the Company’s personnel as a result of the Merger.
No Severance Payments. Except as set forth in SCHEDULE 3.27, the Seller will not owe a severance payment or similar obligation to any of its Employees, officers, or directors, as a result of the transactions contemplated by this Agreement, nor will any of such persons be entitled to an increase in severance payments or other benefits as a result of the transactions contemplated hereby, nor in the event of the subsequent termination of their employment.
No Severance Payments. If the Executive's Date of Termination occurs --------------------- during or after the end of the Agreement Term, or because of (i) the Executive's death, (ii) his being Permanently Disabled (paragraph 3(b)), (iii) his termination for Cause (paragraph 3(c)), or (iv) his resignation (paragraph 3(e)), then, except as otherwise expressly provided for in this Agreement, no payments shall be due to the Executive under this Agreement for periods after the Date of Termination.
No Severance Payments. There are no agreements, --------------------- including, without limitation, any employment or consulting agreements to which the Company or any of its Subsidiaries is a party that will require the Company or any of its Subsidiaries to make a severance payment or incur or assume any other liability as a result of the transactions contemplated by this Agreement and the Ancillary Agreements, including, without limitation, any obligation to make any payments upon the occurrence of a change of control.
No Severance Payments. No Shareholders shall be entitled to severance or change of control payments by VRCL as a result of this Agreement being performed.
No Severance Payments. The Company is prohibiting any payment that is prohibited by law as a result of the Company’s participation in the CPP. Such prohibited payments include, but are not limited to, severance, golden parachute or other payments related to the executive’s departure from the Company.
No Severance Payments. Except for the potential bonus payment to Joe Cheatham described in th▇ ▇▇▇▇▇▇▇▇▇ hereto, the Company will not owe a severance payment or similar obligation to any of its employees, officers, or directors, as a result of the transactions contemplated by this Agreement, nor will any of such persons be entitled to an increase in severance payments or other benefits as a result of the transactions contemplated hereby, nor in the event of the subsequent termination of their employment.
No Severance Payments. No Shareholders shall be entitled to severance or change of control payments by Sphere as a result of this Agreement being performed.
No Severance Payments. None of the Company or the Subsidiary will owe a severance payment or similar obligation to any of their respective current or former employees, officers or directors as a result of the transactions contemplated by this Agreement, nor will any of such persons be entitled to an increase in severance payments or other benefits payable by the Company or the Subsidiary as a result of the transactions contemplated by this Agreement in the event of the subsequent termination of their employment.
No Severance Payments. No Shareholders shall be entitled to severance or change of control payments by Poly Inc. as a result of this Agreement being performed.