Base Salary Continuation Benefit. Continuation of Employee's base salary in effect on Employee's termination date for a period of 12 (months) months following such termination date, with such base salary to be paid in installments on the Company's regular payroll dates beginning on the earlier of (A) the first regular payroll date following the date on which the Release (as defined in Section 5) becomes effective and (B) the seventy-fourth (74th) day following Employee’s termination date; provided that if such seventy-four (74) day period spans two calendar years, the installment payments shall begin in the second such calendar year. The initial payment of continued base salary will include a catch-up payment consisting of the installments that otherwise would have been paid on the regular payroll dates occurring between Employee’s termination date and such initial payment date.
Base Salary Continuation Benefit. Continuation of Employee's base salary in effect on Employee's termination date for a period of twelve (12) months WEST\258814678.2
Base Salary Continuation Benefit. Continuation of Employee's base salary in effect on Employee's termination date for a period of twelve (12) months following such termination date, with such base salary to be paid in installments on the Company's regular payroll dates beginning on the earlier of (A) the first regular payroll date following the date on which the Release (as defined in Section 5) becomes effective and (B) the seventy-fourth (74th) day following Employee’s termination date; provided that if such seventy-four (74) day period spans two calendar years, the installment payments shall begin in the second such calendar year. The initial payment of continued base salary will include a catch-up payment consisting of the installments that otherwise would have been paid on the regular payroll dates occurring between Employee’s termination date and such initial payment date. If any severance is paid to the Employee by the Company or any subsidiary of the Company as mandated under applicable labor laws under the People’s Republic of China (“PRC”), the severance pay in this clause will be reduced by the amount of the mandated severance or will be refunded to the Company by Employee, if the Company has already made the severance payment to Employee.
Base Salary Continuation Benefit. The Company will pay you cash severance in an amount equivalent to fifteen (15) months of your Base Salary (totaling $400,000), subject to standard payroll deductions and withholdings (the “Base Salary Severance”). The Base Salary Severance will be paid to you in substantially equal installments on the Company’s normal payroll periods during the fifteen (15) month period following your Separation Date, provided, however, that any payments scheduled to be made prior to the Effective Date of this Agreement (as defined in Section 11(d)), shall instead accrue and be paid to you in a single lump sum during the first payroll period following the Effective Date.
Base Salary Continuation Benefit. Continuation of Employee's base salary in effect on Employee's termination date for a period of twelve (12) months following such termination date, with such base salary to be paid in installments on the Company's regular payroll dates beginning on the first regular payroll date following the date on which the Release (as defined in Section 5) becomes effective. The initial payment of continued base salary will include a catch-up payment consisting of the installments that otherwise would have been paid on the regular payroll dates occurring between Employee’s termination date and such initial payment date. If any severance is paid to the Employee by the Company or any subsidiary of the Company as mandated under applicable labor laws of the People’s Republic of China (“PRC”) or Hong Kong, the severance pay in this clause will be reduced by the amount of the mandated severance or will be refunded to the Company by Employee, if the Company has already made the severance payment to Employee. For purpose of this Agreement and to avoid confusion, base salary under this Section 2 (a) and under Section 4(a), below, shall include the components of “annual compensation amount” provided in the Offer Letter issued by the CEO of the Company to the Employee on December 19, 2013 which are base salary and monthly non-taxable reimbursements, which for example at the date of this Agreement collectively amounting to 2,492,160 RMB annually.
Base Salary Continuation Benefit. Continuation of Employee's base salary in effect on Employee's termination date for a period of twelve (12) months following such termination date, with such base salary to be paid in installments on the Company's regular payroll dates beginning on the first regular payroll date following the date on which the Release (as defined in Section 5) becomes effective. The initial payment of continued base salary will include a catch-up payment consisting of the installments that otherwise would have been paid on the regular payroll dates occurring between Employee’s termination date and such initial payment date. If any severance is paid to the Employee by the Company or any subsidiary of the Company as mandated under applicable labor laws of the People’s Republic of China (“PRC”) or Hong Kong, the severance pay in this clause will be reduced by the amount of the mandated severance or will be refunded to the Company by Employee, if the Company has already made the severance payment to Employee.
