Cash Separation Payments Sample Clauses

Cash Separation Payments. Upon a termination of Executive's employment under circumstances described in Section 4(a), the Executive shall receive the following amounts in cash: - Executive's full base salary through the Date of Employment Termination, at the rate in effect ten (10) days prior to the Date of Employment Termination; plus - the product of (A) an amount equal to Executive's full base salary earned from the beginning of the calendar year in which Date of Employment Termination occurs through the Date of Employment Termination, and (B) the greater of (i) 20% and (ii) the percentage equal to the highest percentage of base salary paid to the Executive as an annual bonus for any of the three calendar years preceding the calendar year in which the Executive's termination of employment occurs (the "Prior Bonus Percentage"), reduced by any installment of cash bonus previously paid by the Company to Executive for said calendar year; plus - the full amount, if any, of any incentive or special award which Executive earned but which has not yet been paid; plus - three times the sum of (A) Executive's annual base salary, at the highest rate in effect at any time up to Date of Employment Termination, and (B) an amount equal to the product of (i) the annual base salary referred to in subclause (A) and (ii) the greater of (1) 20% and (2) the Prior Bonus Percentage; provided, however, that two-thirds of such amount (the "Forfeitable Amount") shall be subject to recapture by the Company in the event that a court of competent jurisdiction finds that the Executive breached any of the covenants contained in Section 7 in any material way; plus - an amount which, as of the Date of Employment Termination, is equal to the present value (calculated at a discount rate of 7% per annum) of (x) the lump sum value of the Retirement Pension to which Executive would have been entitled if the four (4) years after the Date of Employment Termination were added to his Credited Service under the EDO Corporation Employees Pension Plan, reduced by (y) the lump sum value of the Retirement Pension to which Executive will be entitled under the terms of such plan based upon termination of employment as of the Date of Employment Termination and assuming commencement of payment of Executive's pension benefits at age 65. The lump sum value of Executive's Retirement Pension shall be determined as of Executive's retirement at age 65, using the same methods and assumptions used at the Date of Employment Termination fo...
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Cash Separation Payments. Riverview shall pay to Executive the gross amount of $1,767,125 (less legally required tax withholdings) as follows: (1) $441,781.25 to be paid on the Bank’s next regular pay date following the 1st day of the seventh month after the Date Separation Agreement and Release of Resignation; and (2) 18 monthly installment payments of $73,630.21, paid on the Bank’s first regular payroll date of each month immediately thereafter (the “Separation Pay”). In addition, Riverview shall transfer ownership to Executive of the company automobile provided for Executive’s use as of his Date of Resignation, free and clear of all liens, at no cost to Executive, which shall include no cost incurred by Executive for any transfer taxes or fees associated with the transferring of the ownership of such company automobile.
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Cash Separation Payments. Upon your timely execution of this Agreement and in exchange for your full compliance with this Agreement and provided that you have met, and continue to meet, all of your obligations, agreements, and undertakings set forth herein, the Company agrees to pay you the gross amount of $7,500,000.00 (“Separation Pay”), less legally required withholdings, as follows: (i) $1,000,000.00 to be paid on the Employers’ next regular pay date following the expiration of the revocation period explained in Paragraph 14 of this Agreement without revocation, (ii) $3,500,000.00 shall be paid six (6) months from the execution of the Agreement, (iii) $1,500,000.00 shall be paid twelve (12) months from the execution of the Agreement, and (iv) $1,500,000.00 shall be paid eighteen (18) months from the execution of the Agreement. The total Separation Pay shall be paid within eighteen (18) months from the execution of the Agreement.
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Cash Separation Payments. The following payments will be made within thirty (30) days after you sign and timely return the Separation & General Release of Claims Agreement to the Company, provided you do not revoke your acceptance (if you have that right) in a timely manner. Severance Amount $375,000 Medical Insurance Replacement Amount $20,292.72 Life Insurance Replacement Amount $1,757.40 2011 Bonus Amount (for non-sales employees only) $73,356.16, which equals 100% of your annual target bonus, pro-rated based on the number of days that you were actively employed by Verisign in 2011. Any leave of absence days taken in 2011 will not be considered active employment and will not be factored in when calculating that year’s bonus.
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Cash Separation Payments. The following payments will be made within thirty (30) days after you sign and timely return the Separation & General Release of Claims Agreement to the Company, provided you do not revoke your acceptance (if you have that right) in a timely manner. Severance Amount $375,000 Medical, Dental and Vision Amount $13,130.04 Life Insurance Replacement Amount $3,900 2011 Bonus Amount (for non-sales employees only) $93,493.15, which equals 100% of your annual target bonus, pro-rated based on the number of days that you were actively employed by Verisign in 2011. Any leave of absence days taken in 2011 will not be considered active employment and will not be factored in when calculating that year’s bonus Vesting has been accelerated subject to exercise restrictions with respect to 25% of your “In-the-Money Options”, if any, that were scheduled to vest after your Scheduled Termination Date specified in your Termination Notice. “In-the-Money Options” are those options that have a per share exercise price less than the closing price of Verisign, Inc. common stock, as quoted on the Nasdaq Global Market, on the date of your Termination Notice. Accelerated vesting has been applied to the eligible unvested “In-the-Money Options” having the lowest exercise price first. The attached Equity Summary Statement reflects the Options that the Company will release for exercise within your E*Trade account, if any, subject to applicable post-employment exercise period limitations, as soon as administratively practicable (but in no event later than 30 days) after you sign and timely return the Separation & General Release of Claims Agreement to the Company and such Agreement becomes effective. All of such Options (together with any previously exercisable Options shown in your E*Trade account) will remain subject to the Verisign Stock Retention Policy for Verisign Board of Directors and Section 16 Officers (“the Verisign Stock Retention Policy”) as discussed below.
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Related to Cash Separation Payments

  • Separation Payments Following Executive’s separation from service with Company on or after his Vesting Date (as defined in Section 7), Company shall pay to Executive the sum of THIRTY-SEVEN THOUSAND THREE HUNDRED SIXTEEN and 74/100 Dollars ($37,316.74) per month, beginning six months and one week after Executive’s date of separation for a period of ten (10) years, or until Executive’s death, whichever first occurs (the “Separation Payments”). Such payments shall be subject to any and all applicable withholding, Social Security, employment, income and other taxes or assessments, if any, under the applicable tax law. If Executive should die during the ten-year period during which payments are being made under this Paragraph 3, then those payments shall terminate and future payments, if any, shall be made to Executive’s designated beneficiary(ies) or Executive’s estate in accordance with the provisions of Paragraph 4 of this Agreement.

  • Separation Payment An ASF Member shall be compensated at the final rate of pay for all unused, accumulated vacation, leave time upon separation from state service, or movement to a vacation ineligible position. An employee on an unpaid leave of absence of more than one (1) year for a purpose other than accepting an unclassified position in state civil service, or an employee on layoff that results in separation from service, may elect to be compensated at the final rate of pay for unused accumulated vacation leave. This accumulated vacation payout shall not exceed two hundred and seventy-five (275) hours, except in the case of the ASF Member's death. Calculation of an ASF Member's hourly rate for purposes of computing vacation separation payment shall be based upon a base of two thousand eighty-eight (2,088) working hours per year. Appointment periods of less than one (1) year in duration shall be prorated on this basis. Except as provided in Article 16, Section C, Subdivision 4 which pertains to the separation payment to retirees, the separation payment will be made in cash.

  • Termination Payments In the event of termination of the employment of Executive, all compensation and benefits set forth in this Agreement shall terminate except as specifically provided in this paragraph 4:

  • Retention Payment Subject to your compliance with Sections 6 and 7 of this letter agreement, if you remain an active full-time employee of the Company, Parent or any of their respective subsidiaries through the expiration of the 6-month period beginning on the day following the Closing Date (as defined in the Merger Agreement) (the “Vesting Date”), you will receive a cash payment equal to (i) the aggregate amount described in Section 6.2(a) of the Employment Agreement, determined as if your employment with the Company was terminated by the Company without Cause as of the Closing plus (ii) an amount equal to the portion of the premiums the Company would need to pay to provide you with the benefits under Sections 6.2(b) and (c) for the 12 month period following the Vesting Date, based on the premium costs in effect as of the Closing and assuming for this purpose that your employment terminated on the Vesting Date and that you timely elected to receive all such benefits, plus (iii) the Retention Bonus. The aggregate of these amounts will be paid to you in a lump sum on the third business day following the Release Effective Date (as defined below). You hereby agree that, notwithstanding anything contained in the Employment Agreement or any other agreement between you and the Company providing for severance or separation payments or benefits, you may either receive payment of amounts set forth in Section 2(a) or in Section 4, but in no event shall you be entitled to receive payment of both amounts; furthermore, you shall not be entitled to any severance or separation payments or benefits under the Employment Agreement (including under Sections 5 and 6 thereof) or under any other plan, program, policy, agreement or arrangement maintained by the Company, Parent or any of their respective affiliates, and all of your rights to such payments and benefits under the Employment Agreement and any such other plan, program, policy, agreement or arrangement will immediately terminate, in each case, except as otherwise provided herein. If you continue to be employed by Parent or its subsidiaries following the Vesting Date, you shall be eligible for severance benefits under either the applicable severance policy of Parent or one of its subsidiaries, as determined by Parent; provided, however, that you shall not receive credit for your service with Parent or the Company, or any of their respective subsidiaries, for the periods of employment that precede the Closing Date for any purpose under such policy, including eligibility, vesting or calculation of benefits.

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).

  • Separation Payments and Benefits Provided that Executive: (x) executes this Agreement and returns a copy of this Agreement that has been executed by Executive to the Company so that it is received by Cameron Turtle, Chief Operating Officer, 221 Crescent Street, Built 17, Suite 102B, Waltham, MA 02453 (email: ) no later than 5:00 pm CT on September 22, 2023; (y) does not revoke this Agreement during the Release Revocation Period (as defined below); and (z) remains in compliance with the other terms and conditions set forth in this Agreement (including under Section 5), Executive shall receive the following separation payments and benefits: (a) the Company shall pay to Executive aggregate severance payments of $623,000 (the “Severance Amount”), which Severance Amount shall be paid through salary continuation in equal installments in accordance with the Company’s standard payroll procedures, with the initial payment to occur on the first payroll date following the 60th day following the Separation Date, with the first installment to include a catchup payment for amounts covering the period from the date of Separation Date through the first payment date; (b) if Executive timely elects continued coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), the Company shall pay the full amount of Executive’s COBRA premiums on behalf of the Executive for the Executive’s continued coverage under the Company’s health, dental and vision plans, including coverage for the Executive’s eligible dependents, for the Severance Period (as defined in the Severance Agreement); (c) the Company shall pay to Executive a lump sum payment of $168,246.58 (the “Retention Bonus”) in accordance with the terms of that certain Incentive Agreement between Executive and the Company dated June 21, 2023 (the “Incentive Agreement”), which Retention Bonus shall be paid following the expiration of the Release Revocation Period but in no event later than December 31, 2023; (d) effective as of the last day of the Consulting Period, all unvested Options scheduled to vest within the 12-month period following the last day of the Consulting Period shall immediately become fully vested and exercisable; (e) all vested Options (after giving effect to Section 2(d) and Section 5(c)) will remain outstanding for six months following the last day of the Consulting Period and may be exercised during such period in accordance with the terms of the Award Agreements; and (f) in the event that any sale, licensing, disposition, or monetization transaction or multiple transactions relating to pegtarviliase or any of the Company’s legacy development-stage assets is consummated prior to June 23, 2024, then, and only then, the Company will pay to Executive a cash bonus equal to: (i) 1.0% of the value of the upfront consideration received by the Company in such transactions, plus (ii) 0.5% of the risk-adjusted net present value of the contingent consideration payable to the Company in such transactions, in each case, to be paid within 30 days of the end of the calendar quarter in which such transaction is consummated, in each case, in accordance the parameters established by the Compensation Committee of the Board of Directors of the Company on August 1, 2023. Executive acknowledges and agrees that the consideration referenced in this Section 2 represents the entirety of the amounts Executive is eligible to receive as severance pay and benefits from the Company or any other Company Party pursuant to the Severance Agreement and otherwise.

  • Contribution Payment To the extent the indemnification provided for under any provision of this Agreement is determined (in the manner hereinabove provided) not to be permitted under applicable law, the Company, in lieu of indemnifying Indemnitee, shall, to the extent permitted by law, contribute to the amount of any and all Indemnifiable Liabilities incurred or paid by Indemnitee for which such indemnification is not permitted. The amount the Company contributes shall be in such proportion as is appropriate to reflect the relative fault of Indemnitee, on the one hand, and of the Company and any and all other parties (including officers and directors of the Company other than Indemnitee) who may be at fault (collectively, including the Company, the "Third Parties"), on the other hand.

  • Severance Payments 5.1 The Company shall pay the Executive the payments described in this Section 5.1 ("Severance Payments") upon the termination of the Executive's employment following a Change in Control during the term of this Agreement, including the Executive's termination of employment for Good Reason, unless such termination is (a) by the Company for Cause, or (b) by reason of the Executive's Death or Disability. The Executive's employment shall be deemed to have been terminated following a Change in Control by the Company without Cause if the Executive's employment is terminated prior to a Change in Control without Cause at the direction (or action which constitutes a direction) of a Person who has entered into an agreement with the Company the consummation of which will constitute a Change in Control. (i) Within three (3) business days after the Date of Termination, the Company shall make a lump sum or monthly, at the Executive's option, cash severance payment to the Executive in an amount equal to: (x) the Executive's annual base salary in effect immediately prior to the occurrence of the event or circumstance upon which the Notice of Termination is based or in effect immediately prior to the Change in Control; and (y) a pro-rated portion of Executive's Targeted Annual Bonus for the fiscal year in which the Date of Termination occurs. (ii) For a twelve (12) month period after the Date of Termination, the Company shall arrange to provide the Executive with medical and dental insurance benefits substantially similar to those that the Executive is receiving immediately prior to the Notice of Termination. Benefits otherwise receivable by the Executive pursuant to this Section 5.1(ii) shall be reduced to the extent comparable benefits are actually received by or made available to the Executive without cost during the twelve (12) month period following the Executive's termination of employment (and any such benefits actually received by the Executive shall be reported to the Company by the Executive). 5.2 The Company also shall pay to the Executive all legal fees and expenses incurred by the Executive in disputing the non-payment of Severance Payments in connection with a termination which entitles the Executive to Severance Payments. Such payments shall be made within five (5) business days after delivery of the Executive's written request for payment accompanied with such evidence of fees and expenses incurred as the Company reasonably may require.

  • Compensation & Payment 8.4.1. Should the claim be found proven; settlement is executed only in the form of compensation payment added to the Client trade account. 8.4.2. Compensation shall not compensate the profit not received by the Client in the event that the Client had an intention to perform some action but has not performed it for some reason. 8.4.3. The Company shall not compensate non-pecuniary damage to the Client. 8.4.4. The Company adds a compensation payment to the Client trading account within one working day since the moment of making a positive decision on the dispute situation.

  • Cash Severance The Company shall make a single lump sum severance payment to Executive in an amount equal to Executive’s Base Annual Salary in effect as of the Termination Date plus an amount equal to Executive’s Annual Bonus target in effect as of the Termination Date, less required tax withholdings and deductions (the “Change in Control Payment”). The Change in Control Payment will be paid within sixty (60) days after the Termination Date, but in no event later than March 15 of the year following the year of termination.

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