Terms of Separation Clause Samples

Terms of Separation. In consideration of the agreements by the Employee provided herein, including, without limitation, the release by the Employee in Section 4 below, the Company agrees as follows:

Terms of Separation. In consideration of the agreements by Employee provided herein, including without limitation the release by the Employee in Paragraph 4 hereof, the Company agrees to provide the following payments and benefits to the Employee [as soon as practicable after this Agreement becomes irrevocable pursuant to the provisions of Section 10 hereof:] (a) The Company shall pay to the Employee in full satisfaction of any claims by him against the Company or any Affiliate for salary, bonus, vacation, holiday, [expense or similar reimbursement,] pension or profit sharing benefits, separation or severance pay and any other claim for compensation or benefits of any kind whatsoever under the Employment Agreement or otherwise, (i) a single lump sum payment of $337,500 (less applicable withholding for payroll and other taxes), which amount shall be applied in payment of those expenses, advances, loans, other amounts owed to the Company and its Affiliates and other items listed in Exhibit D hereto which are presently known to the Company, and (ii) an additional payment totaling $112,500 to be paid in six equal monthly installments of $18,750 (less applicable withholdings for payroll and other taxes), which amount shall be reduced by the amount of any expenses, advances, loans, other amounts owed to the Company and its Affiliates or similar items which the Company or its Affiliates may become obligated to pay after the date hereof but which are not presently known to the Company and its Affiliates. Such payments shall be made by depositing such amount to the Employee's checking account or such other account, or by check, as Employee may authorize in writing. (b) The Company and the Employee agree that any stock options and restricted stock or other awards which may have been granted to Employee under the Company's Long Term Incentive Plan are hereby canceled and the Employee hereby waives any claims to or in respect of such stock options or stock awards. Immediately following the Termination Date, the Company agrees that it shall award to Employee an option to purchase an aggregate of 200,000 shares of the Company's common stock at an exercise price of $1.50 per share, which option shall be exercisable in whole or in part at any time prior to June 20, 1999. If not exercised by June 20, 1999, such stock option shall expire. The terms and conditions of such stock option award shall reflected in a written option agreement between the Company and the Employee in the form attached he...

Terms of Separation. Dear ▇▇▇▇▇▇: This letter confirms the agreement between you and Silver Spring Networks, Inc. (the “Company”) concerning the terms of your separation and offers you the separation compensation we discussed in exchange for a release of claims.

Terms of Separation. The City Council may terminate this Agreement at any time. Upon termination of this Agreement, the City shall compensate the Interim City Manager up to the date of termination and the City shall owe no further benefit to the Interim City Manager. The Interim City Manager may resign at any time with a 30 days’ notice to the City Council. Resignation not consistent with this provision shall forfeit any payments to be received by the Interim City Manager under this Agreement that have not already been paid.

Terms of Separation. Dear ▇▇▇: This letter confirms the agreement (this “Agreement”) between you and Ipsidy Inc. (the “Company”), concerning your separation from the Company. You and the Company shall collectively be referred to as the “Parties.”

Terms of Separation. In consideration of the agreements by the Employee provided herein, the Company agrees as follows: (a) In full satisfaction of any claims by the Employee in connection with his employment by the Company or the termination of his employment by the Company, including any claims for compensation (but subject to Section 6(d) and (e) below), severance payments or benefits, and the like, the Company shall pay to the Employee a lump sum amount equal to $165,750, less all applicable deductions, within five (5) business days following the Separation Date. (b) The Employee shall cease participation in all employee benefit plans of the Company effective as of the Separation Date, and the Company shall not be liable for any payments to or on behalf of the Employee in respect of any fringe benefits incurred after the Separation Date. The foregoing shall not be in lieu of any continued health care coverage to which the Employee or his dependents would otherwise, at the Employee's expense, be entitled in accordance with the requirements of Code Section 4980B by reason of termination of his employment. (c) The Company will deduct and withhold, from the compensation payable to the Employee under this Agreement, any and all Federal, State and local income and employment withholding taxes and any other amounts required to be deducted or withheld by the Company under the applicable statute or regulation.

Terms of Separation. In the event Employee is terminated by the City without cause, the City will award to the Employee a lump sum payment of four (4) months base salary, plus continue

Terms of Separation. The Company agrees to provide Employee, upon -------------------- receipt of the signed Agreement, and the expiration of any revocation period set forth in Paragraph 5.C. below, the following compensation and benefits, provided that Employee does not exercise any right to revocation contained herein:

Terms of Separation. In consideration of the agreements by the Employee provided herein, including without limitation the releases by the Employee in Paragraph 4 below, the Company agrees as follows: (a) The Company shall deliver to the Employee, in full satisfaction of any claims by him under the Employment Agreement, including but not limited to any claims for compensation, bonus payments, fringe benefits, disability benefits, ownership rights, severance benefits, change in control benefits and options, the following two promissory notes: (i) The first promissory note ("Note A") shall be in the amount of $215,000 and shall be payable in regular semimonthly installments through the Company's regular payroll system during the period ending October 1, 1996. Each installment under Note A shall be equal to the amount payable to the Employee as base salary under the Employment Agreement prior to the Separation Date, provided that the Company shall treat each payment under Note A as employment compensation to the Employee for all purposes and shall deduct and withhold from each such payment any and all Federal, state and local taxes, deductions and withholdings related to employment, taxes or compensation required to be withheld or deducted by the Company under applicable law. Payments under Note A shall be accelerated to the extent that Note B (described below) is prepaid in full due to one or more Asset Sales (described below) and there are Asset Sale Proceeds remaining after prepayment in full of Note B with which to prepay Note A. Note A shall not bear interest except that any amounts due and payable thereunder that are not paid by the Company on or before October 1, 1996 shall bear interest at the maximum rate permitted by applicable law. (ii) The second promissory note ("Note B") shall be in the amount of $750,000 and shall be provided to the Employee on account of the pain and suffering sustained by the Employee in connection with the termination of his employment by the Company. Note B shall be due and payable in full on October 1, 1996 except that payments shall be accelerated to the extent of any Asset Sale Proceeds (described below). Note B shall not bear interest except that any amounts due and payable that are not paid by the Company on or before October 1, 1996 shall bear interest at the maximum rate permitted by applicable law. (iii) In the event that the Company sells or finances any asset or business of the Company (such as, for example, KENETECH Resource Recovery,...