Accrued Salaries Sample Clauses

Accrued Salaries. This accrual shall include salary costs which have been recognised in the employee service period but have not yet been paid out.
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Accrued Salaries. Until such time as the Debentures are no longer outstanding, neither the Company nor any Subsidiary shall pay any salaries accrued up to and including the Closing Date.
Sample 1
Accrued Salaries. The unpaid and accrued salaries (the "Accrued Salary") of the Company as of May 15, 2006 is expected to be approximately $404,000. Effective as of the Initial Closing date, not less than $275,000 of the Accrued Salary shall have been forfeited or converted into shares of Common Stock at a price equal to the Purchase Price (with appropriate adjustment made to account for applicable payroll and withholding taxes which shall be paid by the Company).
Sample 1
Accrued Salaries. Due Personnel and/or Consultants of Company and RWT. The Company shall offer to pay all consultants and personnel of Company and RWT all accrued salaries and consulting fees by issuance of Company shares of common stock valued at $.01 per share (the "Compensation Shares"), said Compensation Shares to comprise 16,133,333 Shares to be issued to Altos Bancorp; 13,951,700 Shares to be issued to Martin Nielson; 3,900,000 Shares to be issued to Gary McNear; and 0,000,000 Xxares to be issued to Craig Conklxx. Xxx xf the Compensation Shares shall be registered xx x Xxxx X-0 (to the extent permitted under the rules for use of Form S-8) and the holders shall have the right to sell up to 1/4th of the Compensation Shares each quarter subject only to a right of the Board of Directors to limit the amount and timing if believed to be reasonably necessary. If any limitation is imposed, such limitation shall be applied prorate to the holders of Compensation Shares based on the number of Compensation Shares held by a holder to the total Compensation Shares proposed to be sold. All of the Company personnel and consultants will be required to agree to accept the Compensation Shares in full payment of the Company obligation to them before the issuance of such shares.
Sample 1
Accrued Salaries. Due Personnel and/or Consultants of Company and RWT. The Company shall offer to pay all consultants and personnel of Company and RWT all accrued salaries and consulting fees by issuance of Company shares of common stock valued at $.01 per share (the "Compensation Shares"). All of the Compensation Shares shall be registered on a Form S-8 (to the extent permitted under the rules for use of Form S-8) and the holders shall have the right to sell up to 1/4th of the Compensation Shares each quarter subject only to a right of the Board of Directors to limit the amount and timing if believed to be reasonably necessary. If any limitation is imposed, such limitation shall be applied prorate to the holders of Compensation Shares based on the number of Compensation Shares held by a holder to the total Compensation Shares proposed to be sold. All of the RWT personnel and consultants will be required to agree to accept the Compensation Shares in full payment of the RWT obligation to them before the issuance of such shares.
Sample 1
Accrued Salaries. Golf One acknowledges accrued salaries due from Golf One and it's wholly owned subsidiary Rhino Marketing, Inc. through January 31, 1998 to Consultant during his tenure as a corporate executive officer, and agrees to pay fifty percent (50%) of such accrued salaries from the proceeds of it's anticipated $1 million bridge loan financing. Golf One further agrees to pay the balance of the accrued salaries at the closing of Golf One's IPO.
Sample 1

Related to Accrued Salaries

  • Accrued Salary On the Separation Date, the Company will pay you all accrued salary earned through the Separation Date, subject to standard payroll deductions and withholdings. You will receive these payments regardless of whether or not you sign this Agreement.

  • Accrued Salary and Vacation On the Separation Date, the Company will pay you all accrued salary and all accrued and unused vacation earned through the Separation Date, subject to standard payroll deductions and withholdings. You will receive these payments regardless of whether or not you sign this Agreement.

  • Accrued Compensation On any termination of the Executive’s employment with the Company Group, the Executive will be entitled to receive all accrued but unpaid vacation, expense reimbursements, wages, and other benefits due to the Executive under any Company-provided plans, policies, and arrangements.

  • Accrued Salary and Paid Time Off On the Separation Date, the Company will pay you all accrued salary, and all accrued and unused vacation earned through the Separation Date, subject to standard payroll deductions and withholdings. You are entitled to these payments by law.

  • Accrued 100% sick leave The use of sick leave under this subsection is at the employee's discretion.

  • Accrued Amounts The Company shall pay to the Executive all other amounts accrued or earned by the Executive through the Termination Date and amounts otherwise owing under the then existing plans and policies of the Company, including but not limited to all amounts of compensation previously deferred by the Executive (together with any accrued interest thereon) and not yet paid by the Company, and any accrued vacation pay not yet paid by the Company.

  • Accrued Compensation and Benefits Notwithstanding anything to the contrary in Section 2 and 3 above, in connection with any termination of employment upon or following a Change in Control (whether or not a Qualifying Termination or CIC Qualifying Termination), the Company or its subsidiary shall pay Executive’s earned but unpaid base salary and other vested but unpaid cash entitlements for the period through and including the termination of employment, including unused earned vacation pay and unreimbursed documented business expenses incurred by Executive prior to the date of termination (collectively “Accrued Compensation and Expenses”), as required by law and the applicable Company or its subsidiary, as applicable, plan or policy. In addition, Executive shall be entitled to any other vested benefits earned by Executive for the period through and including the termination date of Executive’s employment under any other employee benefit plans and arrangements maintained by the Company or its subsidiary, as applicable, in accordance with the terms of such plans and arrangements, except as modified herein (collectively “Accrued Benefits”). Any Accrued Compensation and Expenses to which the Executive is entitled shall be paid to the Executive in cash as soon as administratively practicable after the termination, and, in any event, no later than two and one-half (2-1/2) months after the end of the taxable year of the Executive in which the termination occurs or at such earlier time as may be required by applicable law or Section 10 below, and to such lesser extent as may be mandated by Section 9 below. Any Accrued Benefits to which the Executive is entitled shall be paid to the Executive as provided in the relevant plans and arrangements.

  • Base Salary and Benefits (a) During the Employment Period, the Company shall pay Executive an annual base salary of $535,600 (the “Base Salary”). As used herein, references to “Base Salary” shall include all subsequent increases in annual base salary during the Employment Period. The Base Salary shall be payable in regular installments in accordance with the Company’s general payroll practices (as in effect from time to time). (b) In addition to the Base Salary, during the Employment Period, Executive will be eligible to earn an annual bonus under a bonus plan to be established by the Company, payable in accordance with the Company’s customary practices, as determined by the Board, in its sole discretion based upon the Company’s achievement of budgetary and other objectives set by the Board; provided that, in determining the amount of the annual bonus, if any, to be paid to Executive, the Board shall, in determining whether the Company has achieved the budgetary and other goals set by the Board, disregard any payments by the Company and its subsidiaries to Onex (as defined below) and affiliates. (c) During the Employment Period, Executive shall be entitled to participate in all of the Company’s employee benefit programs for which senior executives of the Company and its subsidiaries are generally eligible. Without duplication of any employee benefits provided to all senior executives of the Company and its subsidiaries, the Company shall reimburse Executive for the annual premium cost of $1 million of term life insurance coverage purchased by Executive on his life, up to a maximum of Eleven Thousand Dollars ($11,000) per year. (d) During the Employment Period, the Company shall (without duplication of any employee benefits provided to Executive pursuant to other provisions of this Agreement) reimburse Executive for all reasonable business expenses incurred by him in the course of performing his duties and responsibilities under this Agreement which are consistent with the Company’s policies in effect from time to time with respect to travel, entertainment and other business expenses, subject to the Company’s requirements with respect to reporting and documentation of such expenses. (e) All amounts payable or otherwise provided to Executive pursuant to this Agreement shall be subject to all applicable withholding and deduction obligations.

  • Accrued Obligations Expiration or termination of this Agreement for any reason shall not release either Party from any obligation or liability which, at the time of such expiration or termination, has already accrued to the other Party or which is attributable to a period prior to such expiration or termination.

  • Base Salary The Company shall pay to the Executive an annual base salary of $200,000, payable on a monthly basis commencing on the Effective Date (as the same may be adjusted herein, the “Base Salary”). The Base Salary shall be paid in accordance with the Company’s payroll policies.

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