Additional Compensation Payments Sample Clauses
The 'Additional Compensation Payments' clause establishes the circumstances under which a party may be entitled to receive payments beyond the standard compensation outlined in the main agreement. Typically, this clause applies when unforeseen costs arise, such as changes in project scope, regulatory requirements, or delays caused by the other party. By specifying the conditions and procedures for claiming extra payments, the clause ensures that parties are fairly compensated for work or expenses not originally anticipated, thereby reducing disputes and promoting transparency in financial arrangements.
Additional Compensation Payments. So long as Employee remains in the continuous employ of Safeco or a Safeco subsidiary, then, with respect to the Shares that are to be issued on each Settlement Date hereunder, Safeco shall (i) pay to Employee during the period commencing with the date hereof and ending on such Settlement Date, as additional compensation, an amount of cash equal to the dividends that would have been payable to Employee during such period if Employee had owned such Shares (“Dividend Equivalents”) or (ii) if eligible and at the election of the Employee, defer the Dividend Equivalents pursuant to the terms and conditions of the Plan and the Deferred Compensation Plan for Executives. Such amounts shall be paid on the regular payroll date that coincides with, or next follows, the applicable dividend payment dates. Upon termination of employment, Employee’s right to receive Dividend Equivalents under this paragraph shall immediately cease; provided; however, that if the termination of employment was due to Employee’s death or disability (as defined in paragraph 4 above) and occurred after an ex-dividend date but prior to payment of the dividend, Employee or the personal representative of Employee’s estate shall be entitled to payment under this paragraph of an amount equivalent to such dividend.
Additional Compensation Payments. So long as Employee remains in the continuous employ of SAFECO or a SAFECO subsidiary, then, with respect to the Shares that are to be issued on each Target Date hereunder, SAFECO shall pay to Employee during the period commencing with the date hereof and ending on such Target Date, as additional compensation, an amount of cash equal to the dividends that would have been payable to Employee during such period if Employee had owned such Shares. Such amounts shall be paid as near in time as reasonably practical to the applicable dividend payment dates. Upon termination of employment, Employee's right to receive dividend equivalents under this paragraph shall immediately cease; provided; however, that if the termination of employment was due to Employee's death or disability or was without Cause (as defined in the Employment Contract) and occurred after an ex-dividend date but prior to payment of the dividend, Employee or the personal representative of Employee's estate shall be entitled to payment under this paragraph of an amount equivalent to such dividend.
Additional Compensation Payments. In order to induce the Executive to execute this Addendum and to be bound by its terms, including the provisions contained herein at Section 2, and to remain in the employment with the Bank and Bancorp through the date of the merger of Bancorp and ▇▇▇▇▇▇▇ (“Merger Date”), and to commence employment with ▇▇▇▇▇▇▇ as of the Merger Date and to remain employed with ▇▇▇▇▇▇▇ thereafter, ▇▇▇▇▇▇▇ shall make the following additional payments to the Executive as follows:
a. Provided that the Executive is an employee in good standing with ▇▇▇▇▇▇▇ as of the date that is one (1) month following the Merger Date, ▇▇▇▇▇▇▇ shall pay the Executive the sum of $______; and
b. Provided that the Executive is an employee in good standing with ▇▇▇▇▇▇▇ as of the date that is twelve (12) months following the Merger Date, ▇▇▇▇▇▇▇ shall pay the Executive the sum of $______;
Additional Compensation Payments. Schedule 5.5(a)(i) of the Company Disclosure Letter sets forth a true and complete list of all Persons to whom the Company or any of the Company Subsidiaries has or will have, as of the Effective Time or as a result of, or in connection with, the consummation of the transactions contemplated by this Agreement or the other Transaction Documents, an obligation to make any Additional Compensation Payments.
Additional Compensation Payments. There are no Persons to whom the Company or any of the Company Subsidiaries has or will have, as of the Closing Date or as a result of, or in connection with, the consummation of the transactions contemplated by this Agreement or the other Acquisition Documents, an obligation to make any Additional Compensation Payments.
Additional Compensation Payments. During the Restricted Period, Safeco shall pay to Director with respect to the shares underlying the Award, as additional compensation, an amount of cash equal to the dividends that would have been payable to Director during the Restricted Period if Director had owned such shares. Upon termination of service as a director, Director’s right to receive dividend equivalents under this paragraph shall immediately cease; provided; however, that if the termination of employment was due to Director’s death or disability (as defined in Section 5 below) and occurred after an ex-dividend date but prior to payment of the dividend, Director or the personal representative of Director’s estate shall be entitled to payment under this paragraph of an amount equivalent to such dividend.
Additional Compensation Payments. Notwithstanding anything in Section 5 hereof or otherwise herein to the contrary, the Board shall receive the following Additional Compensation Payments payable by the Company and City, respectively, as set forth below:
a. Company agrees to make a direct payment to the Board on or before March 31 in each of the years 2023 through and including 2037 equal to $15,000 annually comprised of (i) $10,000 used to purchase advertising opportunities for the Company within the Wadsworth City School District as approved by the Board and as mutually agreeable to the Board and Company; and (ii)
b. The City shall make the following annual direct payments to the Board in addition to other sums payable by the City as set forth in this Agreement in the amounts and on the dates set forth as follows: March 31, 2023 $5,000 March 31, 2024 $5,000 March 31, 2025 $5,000 March 31, 2026 $5,000 March 31, 2027 $5,000 March 31, 2028 $8,000 March 31, 2029 $8,000 March 31, 2030 $8,000 March 31, 2031 $8,000 March 31, 2032 $8,000 March 31, 2033 $13,000 March 31, 2034 $13,000 March 31, 2035 $13,000 March 31, 2036 $13,000 March 31, 2037 $13,000 In order to assist the City with respect to making the payments due in this Section 6 in a timely manner, the Board will send a written reminder notice to the City of the payment due under this Section 6 on or before March 1 of each year the payments are due; provided, however, nothing herein shall be interpreted to relieve the City of its obligation to make such payments in the amounts and on the dates set forth in this Section 6.
Additional Compensation Payments a. Provided that the Executive is an employee in good standing with ▇▇▇▇▇▇▇ as of the date that is one (1) month following the Merger Date, ▇▇▇▇▇▇▇ shall pay the Executive the sum of $50,000; and
b. Provided that the Executive is an employee in good standing with ▇▇▇▇▇▇▇ as of the date that is twelve (12) months following the Merger Date, ▇▇▇▇▇▇▇ shall pay the Executive the sum of $30,000;