Common use of Severance Payment Clause in Contracts

Severance Payment. Executive will receive a lump sum severance payment equal to twelve (12) months (the “CIC Severance Period”) of Executive’s Base Salary as in effect immediately prior to the date of Executive’s termination of Employment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures, but no later than thirty (30) days following the Release Deadline.

Appears in 9 contracts

Sources: Employment Agreement (Weave Communications, Inc.), Employment Agreement (Weave Communications, Inc.), Employment Agreement (Weave Communications, Inc.)

Severance Payment. In exchange for Executive timely signing and not revoking the Release in accordance with the terms therein and in this Agreement, Executive will receive a lump sum severance payment equal to twelve (12) months (the “CIC Severance Period”) of Executive’s Base Salary as in effect immediately prior to the date of Executive’s termination of Employmentemployment plus applicable Cash Bonus, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures, but no later than thirty (30) days following the Release Deadline.

Appears in 6 contracts

Sources: Employment Agreement (Clover Health Investments, Corp. /De), Employment Agreement (Clover Health Investments, Corp. /De), Employment Agreement (Clover Health Investments, Corp. /De)

Severance Payment. Executive will receive a lump sum severance payment equal to twelve six (126) months (the “CIC Severance Period”) months’ of Executive’s Base Salary as in effect immediately prior to the date of Executive’s termination of Employmentemployment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures, but no later than thirty (30) days following the Release Deadline.

Appears in 6 contracts

Sources: Employment Agreement (Shutterstock, Inc.), Employment Agreement (Shutterstock, Inc.), Employment Agreement (Shutterstock, Inc.)

Severance Payment. Executive will receive a lump sum severance payment equal to twelve eighteen (1218) months (the “CIC Severance Period”) of Executive’s Base Salary base salary as in effect immediately prior to the date of Executive’s termination of Employmentemployment, less all required tax withholdings and other applicable deductions, which will be paid as soon as practicable following Executive’s termination of employment but in accordance with the Company’s regular payroll procedures, but no event later than thirty (30) days the next pay period following the Release DeadlineExecutive’s termination of employment.

Appears in 4 contracts

Sources: Severance and Change in Control Agreement (Resonant Inc), Severance and Change in Control Agreement (Resonant Inc), Severance and Change in Control Agreement (Resonant Inc)

Severance Payment. Executive will receive a lump sum severance payment equal to twelve (12) months (the “CIC Severance Period”) of Executive’s Base Salary base salary as in effect immediately prior to the date of Executive’s termination of Employmentemployment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures, but no later than thirty (30) days following the Release Deadline.

Appears in 4 contracts

Sources: Severance and Change in Control Agreement (Shutterstock, Inc.), Severance and Change in Control Agreement (Shutterstock, Inc.), Severance and Change in Control Agreement (Shutterstock, Inc.)

Severance Payment. Executive will receive a lump sum severance payment equal to twelve (12) months (the “CIC Severance Period”) of Executive’s Base Salary as Salary, at the rate in effect immediately prior to the date of Executive’s such termination of Employmentemployment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular first payroll procedures, but no later than thirty (30) days cycle following the Release Deadlinesixtieth day following Executive’s termination of employment.

Appears in 3 contracts

Sources: Employment Agreement (Shutterstock, Inc.), Employment Agreement (Shutterstock, Inc.), Employment Agreement (Shutterstock, Inc.)

Severance Payment. Executive will receive a lump sum severance payment equal to twelve eighteen (1218) months (the “CIC Severance Period”) of Executive’s Base Salary base salary as in effect immediately prior to the date of Executive’s termination of Employmentemployment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Companyas practicable following Executive’s regular payroll procedures, but no later than thirty (30) days following the Release Deadlinetermination of employment.

Appears in 3 contracts

Sources: Severance and Change in Control Agreement (Resonant Inc), Severance and Change in Control Agreement (Resonant Inc), Severance and Change in Control Agreement (Resonant Inc)

Severance Payment. Executive will receive a lump sum severance payment equal to twelve (12) months (the “CIC Severance Period”) of Executive’s Base Salary Salary, as then in effect immediately prior to the date of Executive’s termination of Employmenteffect, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures, but no later than thirty (30) days following procedures commencing as of the first payroll date occurring on or after the Release DeadlineDeadline (as defined in Section 7(a)).

Appears in 3 contracts

Sources: Employment Agreement (OKYO Pharma LTD), Employment Agreement (OKYO Pharma LTD), Employment Agreement (OKYO Pharma LTD)

Severance Payment. Executive will receive a lump sum severance payment equal to twelve (12) months (the “CIC Severance Period”) months’ of Executive’s Base Salary as Salary, at the rate in effect immediately prior to the date of Executive’s such termination of Employmentemployment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures, but no later than thirty (30) sixty days following the Release Deadlinesuch termination of employment.

Appears in 3 contracts

Sources: Employment Agreement (Shutterstock, Inc.), Employment Agreement (Shutterstock, Inc.), Employment Agreement (Shutterstock, Inc.)

Severance Payment. The Executive will shall receive a single lump sum severance payment equal to twelve (12) 12 months (of the “CIC Severance Period”) base salary he received as of Executive’s Base Salary as in effect immediately prior to the date of Executive’s termination the Change of EmploymentControl, less all or the date of the Covered Termination (whichever is greater). This Severance Payment shall be subject to required deductions and tax withholdings and other applicable deductions, which will shall be paid in accordance with within ten (10) business days of the Company’s regular payroll procedures, but no later than thirty (30) days following effective date of the Release DeadlineRelease.

Appears in 3 contracts

Sources: Change of Control Agreement (Aradigm Corp), Change of Control Agreement (Aradigm Corp), Change of Control Agreement (Aradigm Corp)

Severance Payment. Executive will receive a lump sum severance payment equal to twelve (12) months (the “CIC Severance Period”) of Executive’s Base Salary annual base salary as in effect immediately prior to the date of Executive’s termination date or (if greater) at the level in effect immediately prior to the Change of Employment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures, but no later than thirty (30) days following the Release DeadlineControl.

Appears in 2 contracts

Sources: Severance and Change of Control Agreement (Netsuite Inc), Severance and Change of Control Agreement (Netsuite Inc)

Severance Payment. Executive will receive a lump sum severance payment equal to twelve eighteen (1218) months (the “CIC Severance Period”) of Executive’s Base Salary as in effect immediately prior to the date of Executive’s termination of Employment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures, but no later than thirty (30) days following the Release Deadline.

Appears in 2 contracts

Sources: Employment Agreement (Weave Communications, Inc.), Employment Agreement (Weave Communications, Inc.)

Severance Payment. Executive will receive a lump sum severance payment equal to twelve (12) months (the “CIC Severance Period”) months’ of Executive’s Base Salary as Salary, at the rate in effect immediately prior to the date of Executive’s such termination of Employmentemployment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular first payroll procedures, but no later than thirty (30) days cycle following the Release Deadlinesixtieth day following Executive’s termination of employment.

Appears in 2 contracts

Sources: Employment Agreement (Shutterstock, Inc.), Employment Agreement (Shutterstock, Inc.)

Severance Payment. Executive will receive a lump sum severance payment equal to twelve (12) months (the “CIC Severance Period”) of Executive’s Base Salary base salary as in effect immediately prior to the date of Executive’s termination of Employmentemployment, less all required tax withholdings and other applicable deductions, which will be paid as soon as practicable following Executive’s termination of employment but in accordance with the Company’s regular payroll procedures, but no event later than thirty (30) days the next pay period following the Release DeadlineExecutive’s termination of employment.

Appears in 2 contracts

Sources: Severance and Change in Control Agreement (Resonant Inc), Severance and Change in Control Agreement (Resonant Inc)

Severance Payment. Executive will receive a lump sum severance payment equal to twelve six (126) months (the “CIC Severance Period”) of Executive’s Base Salary as in effect immediately prior to the date of Executive’s termination of Employmentemployment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures, but no later than thirty (30) days following the Release Deadline.

Appears in 1 contract

Sources: Employment Agreement (Shutterstock, Inc.)

Severance Payment. Executive will receive a lump sum severance payment equal to twelve eighteen (1218) months (the “CIC Severance Period”) months’ of Executive’s Base Salary as Salary, at the rate in effect immediately prior to the date of Executive’s such termination of Employmentemployment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures, but no later than thirty (30) sixty days following the Release Deadlinesuch termination of employment.

Appears in 1 contract

Sources: Employment Agreement (Shutterstock, Inc.)

Severance Payment. Executive will receive a lump sum severance payment equal to twelve (12) months (the “CIC Severance Period”) of Executive’s Base Salary as in effect immediately prior to the date of Executive’s termination of Employmentemployment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures, but no later than thirty (30) days following the Release Deadline.

Appears in 1 contract

Sources: Employment Agreement (Shutterstock, Inc.)

Severance Payment. Executive will receive a lump sum severance payment equal equivalent to twelve [WEEKS] (12x) months (the “CIC Severance Period”) weeks of base pay of Executive’s Base Salary as in effect immediately prior to the date of Executive’s termination of Employmentemployment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures, but no later than thirty (30) days following the Release Deadline.

Appears in 1 contract

Sources: Employment Agreement (Yumanity Therapeutics, Inc.)

Severance Payment. Executive will receive a lump sum severance payment equal to twelve the sum of (12A) eighteen (18) months (the “CIC Severance Period”) of Executive’s Base Salary and (B) 1.5 times Target Bonus Percentage, in each case, as in effect immediately prior to the date of Executive’s termination of Employmentemployment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures, but no later than thirty (30) days following the Release Deadline.

Appears in 1 contract

Sources: Employment Agreement (Dave Inc./De)

Severance Payment. Executive will receive a lump sum severance payment equal to twelve eighteen (1218) months (the “CIC Severance Period”) of Executive’s Base Salary base salary as in effect immediately prior to the date of Executive’s termination of Employmentemployment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures, but no later than thirty (30) days following the Release Deadline.

Appears in 1 contract

Sources: Severance and Change in Control Agreement (Fulcrum Bioenergy Inc)

Severance Payment. Executive will receive a lump lump-sum severance payment (less applicable withholding taxes) within thirty (30) days after the Release Deadline equal to twelve (12) months ([●]% of the “CIC Severance Period”) sum of the Executive’s Base Salary as annual base salary plus the Executive’s target bonus, each at the level in effect immediately prior to Executive’s termination date or, if greater, at the level in effect immediately prior to the date Change of Executive’s termination of Employment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures, but no later than thirty (30) days following the Release DeadlineControl.

Appears in 1 contract

Sources: Change of Control Severance Agreement (Quality Systems, Inc)

Severance Payment. Executive will receive a lump sum severance payment equal to twelve six (126) months (the “CIC Severance Period”) months’ of Executive’s Base Salary as in effect immediately prior to the date of Executive’s termination of Employmentemployment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures; provided, but no later than however, that the severance payment due under this Section 6(b)(ii) shall not be made until at least thirty (30) days following after the Release Deadlinedate of Executive’s termination.

Appears in 1 contract

Sources: Employment Agreement (Shutterstock, Inc.)

Severance Payment. In exchange for Executive timely signing and not revoking the Release in accordance with the terms therein and in this Agreement, Executive will receive a lump sum severance payment equal to twelve (12) 18 months (the “CIC Severance Period”) of Executive’s Base Salary as in effect immediately prior to the date of Executive’s termination of Employmentemployment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures, but no later than thirty (30) days following the Release Deadline.

Appears in 1 contract

Sources: Employment Agreement (Clover Health Investments, Corp. /De)

Severance Payment. Executive will receive a lump sum severance payment in an amount equal to twelve (12) months (the “CIC Severance Period”) of Executive’s Base Salary base salary as in effect immediately prior to the date of Executive’s termination of Employmentemployment, less all required tax withholdings and other applicable deductions, which will be paid as soon as practicable following Executive’s termination of employment but in accordance with the Company’s regular payroll procedures, but no event later than thirty (30) days following the Release Deadlinenext pay period after Executive’s termination of employment.

Appears in 1 contract

Sources: Executive Employment Agreement (Solar Integrated Roofing Corp.)

Severance Payment. Executive will receive a lump sum severance payment equal to the sum of (A) twelve (12) months (the “CIC Severance Period”) of Executive’s Base Salary and (B) the product of (x) the Target Bonus Percentage and (y) Executive’s Base Salary, in each case, as in effect immediately prior to the date of Executive’s termination of Employmentemployment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures, but no later than thirty (30) days the first regular payroll date following the Release Deadline.

Appears in 1 contract

Sources: Employment Agreement (Dave Inc./De)