Common use of Severance Benefits in the Event of a Change in Control Clause in Contracts

Severance Benefits in the Event of a Change in Control. If Executive’s employment with Serena (or, upon a Change in Control, the successor company or its affiliates, as applicable) terminates because of a Termination Without Cause or a Resignation for Good Reason within twelve (12) months after consummation of a Change in Control, and if Executive complies with the Restrictive Covenant set forth below, then Executive shall be entitled to receive the following severance benefits:

Appears in 2 contracts

Sources: Change in Control Agreement (Serena Software Inc), Change in Control Agreement (Serena Software Inc)