Common use of Base Clause in Contracts

Base. The Employer shall pay to Employee a monthly cash payment in an amount that is equivalent to one-twelfth of the Base Salary of Employee that is then in effect (or if a new, higher Base Salary has been set by the Employer in a signed writing given to employee for an upcoming year, or if the Base Salary for any period during the prior 24 month period was greater, than by that higher Base Salary). The monthly cash payment above shall also include an amount that is equivalent to one-twelfth of any cash Bonus that was paid to Employee for the last full calendar year prior to the termination of employment. Payment shall commence in the first regular pay period following the date of termination. The monthly cash payments may be made monthly or otherwise (e.g., on a two week or semi-monthly cycle) under the then existing regular payroll payments dates of Employer.