Common use of Annual Base Salary Continuation Clause in Contracts

Annual Base Salary Continuation. For a period of twelve (12) months beginning in the month immediately subsequent to the month in which the Date of Termination occurs, the Company shall pay to Employee, on a bi-weekly basis consistent with its then-existing payroll practices, an amount equal to one/twenty-fourth (1/24th) of the Employee’s then-current Annual Base Salary; provided, however, that during months seven (7) through twelve (12) of such period, the amount of such payments shall be reduced by the amounts, if any, earned by the Employee during such months as a result of self-employment and/or employment with another employer. As a condition of payment during months seven (7) through twelve (12), the Employee agrees to provide the Company with verification, reasonably acceptable to Company, substantiating the amounts of any such earnings or the Employee’s lack of other employment as the case may be.

Annual Base Salary Continuation. For a period of twelve (12) months beginning in the month immediately subsequent to the month in which the Date of Termination occurs, the Company shall pay to the Employee, on a bi-weekly basis consistent with its then-existing payroll practices, an amount equal to one/twenty-fourth six (1/24th1/26th) of the Employee’s then-current Annual Base Salary; provided, however, that during months seven (7) through twelve (12) of such period, the amount of such payments shall be reduced by the amounts, if any, earned by the Employee during such months as a result of self-employment and/or employment with another employer. As a condition of payment during months seven (7) through twelve (12)twelve, the Employee agrees to provide the Company with verification, reasonably acceptable to the Company, substantiating the amounts of any such earnings or the Employee’s lack of other employment employment, as the case may be. The Company at any time may elect to pay the balance of such payments then remaining in a lump sum, without discount.

Annual Base Salary Continuation. For a period of twelve (12) months beginning in the month immediately subsequent to the month in which the Date of Termination occurs, the Company shall pay to the Employee, on a bisemi-weekly monthly basis consistent with its then-existing payroll practices, an amount equal to one/twenty-fourth (1/24th) of the Employee’s then-current Annual Base Salary; provided, however, that during months seven (7) through twelve (12) of such period, the amount of such payments shall be reduced by the amounts, if any, earned by the Employee during such months as a result of self-employment and/or employment with another employer. As a condition of payment during months seven (7) through twelve (12)twelve, the Employee agrees to provide the Company with verification, reasonably acceptable to the Company, substantiating the amounts of any such earnings or the Employee’s lack of other employment employment, as the case may be. The Company at any time may elect to pay the balance of such payments then remaining in a lump sum, without discount.

Annual Base Salary Continuation. For a period of twelve (12) months beginning in the month immediately subsequent to the month in which the Date of Termination occurs, the Company shall pay to the Employee, on a bi-weekly basis consistent with its then-existing payroll practices, an amount equal to one/twenty-fourth twenty sixth (1/24th1/26th) of the Employee’s then-current Annual Base Salary; provided, however, that during months seven (7) through twelve (12) of such period, the amount of such payments shall be reduced by the amounts, if any, earned by the Employee during such months as a result of self-employment and/or employment with another employer. As a condition of payment during months seven (7) through twelve (12)twelve, the Employee agrees to provide the Company with verification, reasonably acceptable to the Company, substantiating the amounts of any such earnings or the Employee’s lack of other employment employment, as the case may be. The Company at any time may elect to pay the balance of such payments then remaining in a lump sum, without discount.