Separation Terms Clause Samples

Separation Terms. PRA agrees to pay Releasor the following upon ▇▇▇▇▇▇▇▇’s execution of this agreement:

Separation Terms. Employee agrees not to contest his separation from employment as of , 20 (“Separation Date”) and to release all claims set for herein. Employee agrees that, as of the Separation Date, he will have already returned any and all equipment or other property belonging to Employer. In return, Employer agrees to pay Employee severance pay in the total amount equal to [ ]. This amount is in addition to compensation provided as final wages owed. The severance pay will be paid on Employer’s first regular payday following the Effective Date of this Agreement. The payment shall be subject to all lawful deductions and taxes applicable to Employee's wages, and further subject to the terms and conditions contained herein.

Separation Terms. In consideration for the Employee's execution, non-revocation of, and compliance with this Agreement, including the waiver and release of claims in Section 4, Employer or Privia, as applicable, agrees as follows: (a) The Employee shall not be entitled to the payment of any severance amounts. The Employer does hereby waive the thirty (30) day notice period as set forth in the Employee’s employment agreement, dated as of January 2, 2022 (the “Employment Agreement”) and in lieu of such additional service shall pay the Employee a lump sum payment amount equal to thirty (30) days of service to accelerate the Separation Date as set forth in this Agreement. Such lump sum amount shall be paid within three (3) business days of the Separation Date on the same terms and in the same manner as any final salary payment. (i) Although the Employee is a specified employee of a publicly traded company subject to Section 409A of the Internal Revenue Code and its implementing regulations, and as such the payment as set forth in Section 4(a) is excluded from Section 409A. (ii) The Employee will not be entitled to any further employer matching contributions after the Separation Date consistent with Employer’s treatment of other employees who voluntarily terminate their employment. (b) The Employee shall not be entitled to receive a pro rata portion of the Employee’s 2022 bonus compensation that the Employee would have been entitled to if the Employee had continued employment with the Employer. (c) The restrictive covenants set forth in the Employee’s Employment Agreement, including without limitation, the restrictive covenant, the non-solicitation covenants and the non-disparagement covenants shall continue per the terms of the Employment Agreement. (d) With respect to any grants of options or restricted stock units to Employee pursuant to the Privia Health Group, Inc. 2021 Omnibus Incentive Plan, the Parties agree and acknowledge that such grants are terminated and void as of the Separation Date. (e) The Employee shall be eligible for COBRA benefits after the Separation Date consistent with Employer’s treatment of other employees who voluntarily terminate their employment. (f) The Employee shall be paid his regular base salary through March 31, 2022.

Separation Terms. PRA agrees to pay Releasor the following upon ▇▇▇▇▇▇▇▇’s execution of this agreement: a. Standard Separation Payments: Releasor will receive standard separation payments which include (1) any earned and unpaid Annual Base Salary through the Separation Date; (2) any unreimbursed business and entertainment expenses that are reimbursable through the Separation Date; and (3) any accrued but unused PTO as of the Separation Date.

Separation Terms. As of the Effective Date of this Agreement, the following terms of separation shall apply: A. If Employee executes this Agreement and does not revoke his signature as provided in Section 14, then in exchange for the covenants, waiver and releases in this Agreement, IVGID will pay to Employee a gross amount equivalent to one month’s salary plus payment in lieu of health care benefits. Such total amount shall be $23,999.98 and will be paid in one lump sum payment paid no later than September 20, 2024. This payment timing is required by IVGID, and Employee understands and agrees that he has no entitlement or other right to receive any payment prior to the date specified. B. All payments under this Agreement are subject to applicable payroll taxes and withholdings, whether state or federal. C. No later than the payroll cycle immediately following the Separation Date above, Employee will be paid earned wages through the Separation Date and will be paid the cash value of his accrued but unused vacation hours. Employee expressly warrants and agrees that, as of the date of executing this Agreement, he does not dispute as inaccurate any wages previously paid to him.

Separation Terms. All compensation and benefits shall cease as of the Separation Date, except as expressly provided in this Agreement, the Severance Plan or as otherwise required by law. You shall have no authority to act on behalf of the Company or to bind it in any way after the close of business on the Separation Date.

Separation Terms. The Employee received notice of termination from the Employer on January 1, 2008 (“Notice Date”) that his employment with the Employer will terminate effective June 30, 2009 (the “Termination Date”).

Separation Terms. You and the Company agree to the following: A. Your final paycheck for the final 2 weeks of 2020 in the amount of Seven-Thousand-Six-Hundred-Ninety-Two Dollars and 31/100 ($7,692.31) will be paid out on January 8th 2021 according to the Company’s regular payroll process. B. Payment for what was referred to in your offer letter as the deferred portion of your compensation will be calculated at Two-Thousand-Eight-Hundred-Eighty-Four Dollars and 61/100 ($2,884.61) per week. Your employment with the Company extended between December 23, 2019 and December 31, 2020. The total amount of what was referred to as the deferred portion of your compensation will be One-Hundred-Fifty-Five-Thousand-Seven-Hundred-Sixty-Nine Dollars and 23/100 ($155,769.23), less applicable taxes and withholdings, to be paid January 8th 2021. C. The Company will process Twenty-Five-Thousand-Five-Hundred Dollars and 00/100 ($25,500.00) from the total deferred amount identified in subparagraph B, above, ($155,769.23), into your 401K ABG (Alliance Benefit Group) account, pursuant to the plan terms and regulations governing such contributions. D. The Company will process Six-Thousand-Five-Hundred Dollars and 00/100 ($6,500.00) from the total deferred amount identified in subparagraph B, above, ($155,769.23), into your HSA (Health Savings account) pursuant to applicable guidelines and regulations related to such contributions. E. The Company will pay you a lump sum payment equal to approximately two (2) months’ payment for continuing health benefits under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) in the amount of Eight-Hundred-Three Dollars and 50/100 ($803.50), less lawfully required withholdings, payable within fifteen (15) business days following the Effective Date of this Agreement. F. As agreed by the Harvest Executive team for the year 2020, of which you were a part, no executive with the Company will be eligible for, and/or will be receiving, a bonus for the year 2020 and You agree and understand that this means you are not entitled to any bonus for the year 2020. You further understand and agree that you would not have been eligible for a bonus for the year 2020 even had your employment with the Company continued; and G. In response to any future reference inquiries, the Company will provide, on Your behalf, a neutral reference and confirmation of your employment, the dates thereof, and the title you held. All such reference inquiries should be directed to the attenti...

Separation Terms. Subject to the conditions stated herein, the Company will: Make payment to you by wire transfer after the receipt of this fully executed Agreement as follows: (i) Payment for time employed up to your termination date paid on your termination effective date. (ii) Payment equivalent to six (6) months of employment in lieu of the notice period pursuant to the Notice of Termination to Be Given by the Company section of your Agreement with such payment being made in six (6) equal monthly instalments paid through the following six (6) payrolls using the existing payroll calendar (4th Thursday of each month), starting on the 30th day following your date of execution of the Form Of Acceptance. (iii) Ex-gratia payment €16,415.38. (iv) Stipend for legal advice up to €1,500 and paid upon presentation of your lawyer’s bill for services rendered. (b) The Company will continue to pay your Healthcare contributions up to September 30, 2022. You should then make your own Healthcare arrangements. Company service provider, VHI, will be in contact with you directly regarding same. (c) Should you have any business expenses pending submission, please forward these through our Expense portal within 7 days of the date you sign the Form of Acceptance and these will be paid in due course. (d) You have vested in 70,000 options to purchase common stock of EBET, INC. at an exercise price of $2.00 per share and exercisable in accordance with the EBET 2020 Equity Plan which is as of the 90th day from the date of your effective date of termination. (e) You have vested in 5,000 RSUs of EBET, Inc. (f) The Company has agreed to pay you a one-time cash bonus of EUR 85,360 (“Separation Bonus”) to be paid to you upon EBET, Inc.’s next fundraising/offering closing so long as such closing involves net cash to EBET, Inc. of no less than $4,000,000 (“Qualified Offering”). Should a Qualified Offering not occur prior to November 1, 2022, then it is agreed that the Company shall pay you the Separation Bonus in equal monthly instalments over a 12-month period commencing October 1, 2022. (g) You will be placed on Garden leave for 2 weeks from the date you sign the Form of Acceptance below. (h) You shall return the Company laptop to ▇▇▇ ▇▇▇▇▇▇▇ no later than October 31, 2022. Please note that given this termination any Stock Options/Restricted Stock Units (“RSUs”) offered to you that have not yet vested up to this termination date or that are not delineated hereinabove will no longer remain valid and an...