Compensation Continuance Sample Clauses

Compensation Continuance. If the Executive's employment hereunder is involuntarily terminated as described in Section 3, he will be entitled to receive the cash compensation and benefits described in (a), (b) and (c) below (herein, "Compensation Continuance") for the period beginning with the date of such involuntary termination and ending with the earlier of (i) the third anniversary of the date of such termination, or (ii) the Normal Retirement Date of the Executive as defined in the Retirement Agreement (such period is referred to herein as the "Compensation Period"). The duration of the Compensation Period shall not be affected by the fact that the term of this Agreement otherwise would end before such Period expires. The cash compensation and benefits are as follows:
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Compensation Continuance. In addition to the compensation provided for in Section 9.1, upon the occurrence of a Compensation Continuance Termination Event, the Executive (or in the event of his subsequent death, his surviving spouse) shall be entitled to continue to receive his Base Salary (as increased each year in the manner provided in Section 5.1) during the Compensation Continuance Period.
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Compensation Continuance. In addition to the compensation provided for in Section 10.1, upon the occurrence of a Compensation Continuance Termination Event, the Executive shall be entitled to receive during the Compensation Continuance Period an annual benefit equal to his Final Average Compensation. If the Compensation Continuance Termination Event is the termination of the Executive’s employment by the Company as a result of the Executive’s Total Disability, the Executive’s Final Average Compensation shall be reduced by any amounts actually paid to the Executive during the Compensation Continuance Period under any Company sponsored long-term disability policy or any long-term disability policy on the life of the Executive for which the Company paid the premiums. The Executive’s Final Average Compensation shall be paid in accordance with the payroll schedule for salaried personnel of the Company. Notwithstanding the foregoing, the Executive’s Final Average Compensation payable during the first six months of the Compensation Continuance Period shall be paid to the Executive in a lump sum as of the first day of the seventh (7th) calendar month of the Compensation Continuance Period. Thereafter, all payments of Final Average Compensation shall be payable in accordance with the payroll schedule for salaried personnel of the Company.
Sample 1Sample 2
Compensation Continuance. In addition to the compensation provided for in Section 9.1, upon the occurrence of a Compensation Continuance Termination Event, the Executive shall be entitled to receive during the Compensation Continuance Period an annual benefit equal to his Final Average Compensation. The Executive’s Final Average Compensation shall be paid in accordance with the payroll schedule for salaried personnel of the Company. If the Compensation Continuance Termination Event is the termination of the Executive’s employment by the Company as a result of the Executive’s Total Disability, the Executive’s Final Average Compensation shall be reduced by any amounts actually paid to the Executive during the Compensation Continuance Period under any Company sponsored long-term disability policy or any long-term disability policy on the life of the Executive for which the Company paid the premiums.
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Compensation Continuance. If the Executive's employment hereunder is involuntarily terminated as described in Section 3, he will be entitled to receive the cash compensation and benefits described in (a), (b) and (c) below (herein, "Compensation Continuance") for the period beginning with the date of such involuntary termination and ending with the expiration of the three year term of this Agreement (such period is referred to herein as the "Compensation Period"). The cash compensation and benefits are as follows:
Sample 1
Compensation Continuance. In addition to the compensation provided for in Section 12.1, upon the termination of the Executive's employment by the Company's exercise of the Notice Exception or by the Executive for Good Reason, the Executive (or in the event of his subsequent death, his designated beneficiary) shall be entitled to continue to receive during the remainder of the Term following the last day of the Termination Month (the "Compensation Continuance Period"), (i) the Base Salary (as increased each year to reflect increases in the cost of living) that he would have received pursuant to Section 4.1 during the Compensation Continuance Period if the Term had not expired, and (ii) the Awarded Bonus (if any) that he would have received pursuant to Section 4.2 during the Compensation Continuance Period if the Term had not expired. In the event of the Executive's death during the Compensation Continuance Period, such death shall not be deemed the expiration of the Term for purposes of determining the end of the Compensation Continuance Period, and the Executive's designated beneficiary (as determined pursuant to ARTICLE 16) shall be entitled to receive payments under this Section 12.2 during the remainder of the Compensation Continuance Period. During the Compensation Continuance Period, the Executive shall (i) subject to the provisions of ARTICLE 6, continue to participate in all employee benefit plans or programs of the Company (as described in ARTICLE 10), and (ii) be available at reasonable times to provide consulting services to the Company.
Sample 1
Compensation Continuance. In addition to the compensation provided for in Section 12.1, upon the termination of the Executive's employment by the Company's exercise of the Notice Exception or by the Executive for Good Reason, the Executive (or in the event of his subsequent death, his designated beneficiary) shall be entitled to continue to receive during the remainder of the Term following the last day of the Termination Month (the "Compensation Continuance Period"), the Base Salary (as increased each year to reflect increases in the cost of living) that he would have received pursuant to Section 4.1 during the Compensation Continuance Period if the Term had not expired. During the Compensation Continuance Period, the Executive shall (i) continue to participate in all employee benefit plans or programs of the Company (as described in ARTICLE 10), and (ii) be available at reasonable times to provide consulting services to the Company.
Sample 1
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Compensation Continuance. If the Executive's employment hereunder is involuntarily terminated as described in Section 3, he will be entitled to receive the cash compensation and benefits described in (a), (b) and (c) below (herein, "Compensation Continuance") for the period beginning with the date of such involuntary termination and ending with the earlier of (i) the third anniversary of the date of such termination, or (ii) the Normal Retirement Date of the Executive as defined in the Retirement Agreement (such period is referred to herein as the "Compensation Period"). The duration of the Compensation Period shall not be affected by the fact that the term of this Agreement otherwise would end before such Period expires. Only with respect to the Cash Compensation described in (a), the Executive may elect to receive the value of the Cash Compensation in one lump sum rather than in installments payable throughout the Compensation Period. Unless the Executive elects otherwise in writing, the Cash Compensation shall be payable in a lump sum payment within fifteen days of his date of termination. The cash compensation and benefits are as follows:
Sample 1
Compensation Continuance. In addition to the compensation provided for in Section 8.1, upon the termination of the Executive's employment by the Executive for Good Reason or by the Company other than For Cause, the Executive (or in the event of his subsequent death, his designated beneficiary) shall receive the bonus for which he was eligible in the year of termination, prorated for the portion of such year for which Executive was employed (such period to be deemed to end on the Termination Date) at the rate such bonus was earned but in no event less than 50% of the Executive's Base Salary for such period and he shall continue to receive (i) from the last day of the Termination Month through the end of the twelfth calendar month following the Termination Month (the "Compensation Continuance Period") the Base Salary that he would have received pursuant to Section 4.1 during the Compensation Continuance Period as if the Term had not expired and (ii) a bonus with respect to the Compensation Continuance Period paid at a rate of 50% of the Base Salary of the Executive during the Compensation Continuance Period to be paid at such times as bonus payments are normally paid to other executives of the Company.
Sample 1

Related to Compensation Continuance

  • Management Compensation As compensation for your services in the management of the offering, we will pay you an amount equal to the management fee specified in the Invitation in respect of the Securities to be purchased by us pursuant to the Purchase Agreement, and we authorize you to charge our account with such amount. If there is more than one Representative, such compensation shall be divided among the Representatives in such proportions as they may determine.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Special Compensation The Company shall pay to the Executive a lump sum equal to three times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days after the Executive's termination of employment, unless the provisions of Section 3(e) below apply. The amount of the aggregate lump sum provided by this Section 3(c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.

  • Compensation of the Executive 3 4. Termination.........................................................................

  • PROFESSIONAL COMPENSATION 11.1 The basic salaries of teachers covered by this Contract shall be set in accordance with the procedures set forth in this Agreement. 11.2 The salary of the teacher will be presumed correct as shown in the Uniform Teacher’s Contract unless the teacher or the Employer furnishes evidence of error. 11.3 An explanation as to how contract salary figures are computed will accompany the first paycheck of each school year. 11.4 Basic salaries for teachers shall be paid in twenty-six (26) payments. Basic salaries for teachers shall be paid in twenty-six (26) payments in a given calendar year. Exceptions may be made with the approval of the Cash Flow Committee. A teacher may receive the balance due on his contract with the first scheduled paycheck in July by written notice to the Business Office by May 1. If May 1 occurs on a day that school is not in session, the deadline shall be the next regular school day. A teacher who makes this election shall continue each year to receive the balance due on his contract with the first scheduled paycheck in July unless he notifies the Business Office by May 1 that he prefers to be paid in twenty-six (26) payments. Teachers will be notified by the Cash Flow Committee of the Xxxxxxx Teachers’ Federation prior to June 1 in the event the balance on teachers’ contracts due on the first scheduled paycheck in July cannot be paid. 11.5 New teachers will receive one half (½) of their first pay one payroll in advance and the remaining one half (½) on the next pay date. 11.6 Effective January 1, 2009, teacher pay will be issued via direct deposit only. 11.7 The Superintendent may approve additional compensation for individual teachers who have been authorized by the Superintendent to perform additional work assignments. 11.8 Payroll deductions for teachers shall be made as required by law or as mutually agreed to by the parties. Teachers may authorize deductions for tax-sheltered annuities during open enrollment periods of the carrier companies involved. 11.9 Deductions for daily absences not covered by provisions in the Contract shall be made at the same rate as earned. 11.10 Effective January 1, 1993, the Board shall pay directly to the Indiana State Teachers Retirement Fund each teacher’s three percent (3%) contribution to the fund. 11.11 The parties recognize that the salaries which appear on Regular Teacher’s Contracts and Teacher’s Temporary Contracts will be inaccurate whenever a salary increase is approved after these contracts have been executed. At the time of a teacher’s retirement, the Employer will review these contracts and, when necessary, revise the contracts for the five (5) years of service before retirement in which the teacher’s annual compensation was highest so they accurately reflect the sums which the teacher earned in each of those five (5) years. 11.12 The parties recognize that students are entitled to be taught by fully qualified teachers, while at the same time recognizing a professional responsibility to assist in the preparation of student teachers. Therefore, supervision by a teacher of a student teacher shall be voluntary. No teacher should serve as a supervising teacher more than one-half (1/2) of the total teaching time each year. This provision was not bargained and has been included for informational purposes only. Should 11.13 If the Employer determines that any committee should continue its work during the summer, teachers belonging to the committee performing such services shall be paid on the same basis and in the same manner as summer school teachers. If the Employer determines that professional development should occur in the summer, specific teachers invited to participate shall be paid on the same basis as summer school teachers.

  • 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.

  • AGENT’S COMPENSATION The Owner agrees to pay the Agent the following fees indicated below for the services and provided: (check all that apply)

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • Cash and Incentive Compensation (a) All payments referenced in this Agreement are subject to applicable tax withholdings and authorized or required deductions.

  • Equity Compensation All unvested equity awards, including, but not limited to, stock options, stock appreciation rights and restricted stock awards held by Employee on the Date of Termination shall be deemed vested and exercisable on such Date of Termination as if Employee had been employed for an additional six (6) months following the Date of Termination. Notwithstanding the foregoing, if any option, right or award would, as a result of such accelerated vesting and exercisability no longer qualify for exemption under Section 16 of the Exchange Act, then the deemed acceleration of the vesting of such option, right or award shall apply but such option, right or award shall not become exercisable until the earliest date on which it could become exercisable and also qualify for exemption from Section 16 of the Exchange Act, unless Employee instead timely elects to receive a single lump sum cash payment equal to the value of such option, right or award, in lieu of the equity interest that Employee would otherwise receive but for the lack of an exemption under Section 16 of the Exchange Act. Any repurchase rights held by the Company on stock owned or options exercised by Employee shall be canceled on the Date of Termination. To the extent the acceleration of vesting and exercisability described in this Section 4(b)(ii) does not otherwise violate the requirements of Section 409A of the Code, this Agreement shall serve as an amendment to all of Employee’s outstanding stock options, restricted stock awards, repurchase rights, and stock appreciation rights as of the Date of Termination.

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