COMPENSATION CONTINUATION Sample Clauses

COMPENSATION CONTINUATION. Each of VLH, VLI and/or Showco, as the case may be, shall, for a period of 60 days after the date of the death of Xxxxxx, continue to pay to Xxxxxx'x estate cash compensation (including without limitation salary, bonus and consulting fees) in a monthly amount equal to one-twelfth of all cash compensation (including without limitation salary, bonus and consulting fees) paid or payable to Xxxxxx on an annualized basis immediately preceding his death. Notwithstanding the foregoing, if the proceeds from any life insurance policy purchased by VLH, VLI and/or Showco, as the case may be, for the benefit of Xxxxxx and in effect upon the date of his death have not been paid within 60 days after the date of his death, VLH, VLI and/or Showco, as the case may be, shall continue to make such compensation payments as herein provided until the date such life insurance proceeds are paid in full (provided that in no event shall such payments continue for more than one year after the date of his death). Any payments required under this Agreement shall be made in accordance with the general payroll practices of VLH, VLI and/or Showco, as the case may be, in effect at the time such payment is made, but in no event less frequently than monthly.
Sample 1
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COMPENSATION CONTINUATION. From January 1, 2007 through April 28, 2008 (the “Continuation Period”), Executive shall receive Salary Continuation Payments, paid on the Company’s customary payroll pay dates. The “Salary Continuation Payments” shall be $46,875 per month for the first six (6) months of the Continuation Period, and $50,500 per month for the remainder of the Continuation Period, subject to applicable payroll deductions and withholdings. Of the foregoing payments, $46,875 per month payable for the first twelve (12) months in 2007 represents the severance benefit under the 2004 Employment Agreement that was not subject to Section 409A of the Code and was carried forward under the Employment Agreement (the “Grandfathered Benefit”). The balance of the foregoing payments represents the amount that is subject to Section 409A of the Code (the “Non-Grandfathered Benefit”) and does not commence until after the first six (6) months of the Continuation Period. Accordingly, the Grandfathered Benefit will be payable without delay following the effectiveness of this Amendment, while the Non-Grandfathered Benefit will be payable, at the earliest, commencing on the date that is six (6) months following the Termination Date.
Sample 1
COMPENSATION CONTINUATION. The Employee is authorized to take up-to twenty (20) good faith sick days during the Term of this Agreement. The Corporation shall have the right to terminate this Agreement in the event the Employee is unable, because of any illness or physical incapacity, to perform the duties set forth herein for a period of time in excess of the allowable sick days and vacation days.
Sample 1
COMPENSATION CONTINUATION. Pursuant to Section 1 of the Employment Agreement, in full payment of his base salary for the period March 1, 2000 through and including February 28, 2001, Xx. Xxxxxxxx shall receive a lump sum payment of $947,200, which Xx. Xxxxxxxx acknowledges and agrees is equivalent to $975,000 payable over one year, discounted at the rate of 6% to reflect its payment in a lump sum.
Sample 1
COMPENSATION CONTINUATION. In the event that (i) the Company terminates your employment without your consent for any reason other than Cause or Disability or(ii) you voluntarily resign your employment for Good Reason, the Company will continue to pay to you your Base Compensation and to vest your stock options until the end of the term of this Agreement, subject to subsection (g) below. The payments under this subsection (f) will cease in the event of your death. In order to receive your compensation continuation, you will be required to sign a release in a form acceptable to the Company, of any and all claims that you may have against the Company. In the event of the termination of this Agreement, with or without Cause, following a Change in Control prior to May 1, 2004, you will be entitled to receive, without regard to the provisions of subsection (g) below, payment in full of any remaining Base Compensation to May 1, 2004 and all of your unvested stock options described in Section 5 above shall immediately vest and become exercisable in full.
Sample 1
COMPENSATION CONTINUATION. The Company will continue to pay Mr. Neville his current base salary through the Effective Date, at inxxxxxxx xx accordance with the Company's current pay practices. All amounts paid to Mr. Neville will be subject to withholding of federal and state incomx xxx xxxxxyment taxes, in accordance with United States and North Carolina laws. Unless otherwise determined by the Company, Mr. Neville will be entitled to no cash compensation from the Company xx xxxxxxxn to the sums provided in this section and in Section 6.
Sample 1
COMPENSATION CONTINUATION. After the termination of the Employment Period, on a semi-monthly basis in accordance with Angelica's normal and customary payroll practices, Xxxxxxxx shall pay Hubble the "Monthly Continuation Compensation" (as defined in this Section 4.1(b) for each month (or partial month on a prorated basis) remaining in the Term of this Agreement after the termination of the Employment Period. Xxxxxxxx may at any time elect to pay the balance of such payments then remaining in a lump sum, in which the total of such lump-sum payment is discounted to its present value on the basis of the applicable Federal short-term monthly rate for the month in which such lump-sum payment is to be made as determined in accordance with Section 1274(d) of the Internal Revenue Code of 1986, as amended. For purposes of this Agreement, "Monthly Continuation Compensation" shall mean the sum of Hubble's Annual Base Salary and Termination Year Maximum Bonus as of the last day of the Employment Period divided by 12.
Sample 1
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COMPENSATION CONTINUATION. (i) The Employer shall pay the Executive all salary, incentive, vacation pay, and other benefits which the Executive has earned and is entitled to as of the Date of Termination but which remain unpaid as of the Date of Termination. (ii) The Employer shall pay the Executive within thirty (30) days following this Date of Termination a lump sum amount equal to the Executive's Total Cash Compensation multiplied by __________.
Sample 1
COMPENSATION CONTINUATION. The Company will continue to pay Mx. Xxxxxxxxx his current base salary through the Effective Date, at intervals in accordance with the Company's current pay practices. On January 5, 2000, the Company will pay Mx. Xxxxxxxxx a lump sum amount of Three Hundred Fifty-Nine Thousand Six Hundred Twenty-Five and No/100 Dollars ($359,625.00). All amounts paid to Mx. Xxxxxxxxx will be subject to withholding of federal and state income and employment taxes, in accordance with United States and Florida laws. Unless otherwise determined by the Company, Mx. Xxxxxxxxx will be entitled to no cash compensation from the Company in addition to the sums provided in this section.
Sample 1

Related to COMPENSATION CONTINUATION

  • Benefits Continuation In addition, Executive shall be entitled to health and dental insurance benefits for a period of eighteen (18) months following the termination of this Agreement. These benefits will be provided at Employer’s expense, but such period shall count towards the Employer’s continuation of coverage obligation under Section 4980B of the Internal Revenue Code (commonly referred to as “COBRA”).

  • Salary Continuation If the Executive becomes totally disabled during the term of this Agreement, his full salary shall be continued for 360 days from the date of the disabling injury or onset of the disability illness.

  • Benefit Continuation (a) For leaves taken pursuant to Clause 21.1, 21.2 and 21.3 the Employer shall maintain coverage for medical, extended health, dental, group life and long-term disability, and shall pay the Employer’s share of these premiums. (b) Notwithstanding Clause 21.4(a) above, should an employee be deemed to have resigned in accordance with Clause 21.5 the Employer will recover monies paid pursuant to this clause.

  • Commencement and Continuation The Contractor shall commence the Project on the date the Contract was signed by the Department (as above) and, subject to Schedule Three, Clause 10.1 shall complete the Project on or before 31 August 2012. Interpretations Schedule One Schedule Two Schedule Three

  • Term and Continuation This Agreement shall take effect as of the date hereof, and shall remain in effect, unless sooner terminated as provided herein, until September 30, 2003, and shall continue thereafter on an annual basis with respect to each Series, provided that such continuance is specifically approved at least annually (a) by the vote of a majority of the Board, or (b) by vote of a majority of the outstanding voting securities of the Series, and provided continuance is also approved by the vote of a majority of the Board who are not parties to this Agreement or "interested persons" (as defined in the 1940 Act) of the Fund, cast in person at a meeting called for the xxxxxxx of voting on such approval. This Agreement may be terminated at any time, without the payment of any penalty with respect to the entire Fund or only with respect to one or more Series thereof: (a) by the Fund at any time with respect to the services provided by the Administrator by vote of (1) a majority of the Board members who are not "interested persons" (as such term is defined in the 1940 Act) of the Fund, or (2) a majority of the outstanding voting shares of the Fund or, with respect to a particular Series, by vote of a majority of the outstanding voting shares of such Series, on 60 days' written notice to the Administrator; and (b) by the Administrator on or after September 30, 2003, without the payment of any penalty, upon 60 days' written notice to the Fund.

  • Conversion/Continuation (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties pay all amounts due under Section 2.17 in connection with any such conversion, or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon (New York time) at least two Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

  • Continuation of Services The Contractor shall work with the current Subcontractor prior to cancellation date to ensure all consumer needs are identified and appropriate placements and transportation needs, as applicable, have been arranged. The Subcontractor shall maintain communication with the Contractor on the process of transferring consumers until all consumers are placed.

  • Reinstatement and Continuation of Agreement If any Senior Priority Agent or Senior Priority Creditor is required in any Insolvency Proceeding or otherwise to turn over or otherwise pay to the estate of any Credit Party or any other Person any payment made in satisfaction of all or any portion of the Senior Priority Obligations (a “Senior Priority Recovery”), then the Senior Priority Obligations shall be reinstated to the extent of such Senior Priority Recovery. If this Agreement shall have been terminated prior to such Senior Priority Recovery, this Agreement shall be reinstated in full force and effect in the event of such Senior Priority Recovery, and such prior termination shall not diminish, release, discharge, impair, or otherwise affect the obligations of the Parties from such date of reinstatement. All rights, interests, agreements, and obligations of each Agent, each Senior Priority Creditor, and each Junior Priority Creditor under this Agreement shall remain in full force and effect and shall continue irrespective of the commencement of, or any discharge, confirmation, conversion, or dismissal of, any Insolvency Proceeding by or against any Credit Party or any other circumstance which otherwise might constitute a defense available to, or a discharge of, any Credit Party in respect of the Senior Priority Obligations or the Junior Priority Obligations. No priority or right of any Senior Priority Secured Party shall at any time be prejudiced or impaired in any way by any act or failure to act on the part of any Borrower or any Guarantor or by the noncompliance by any Person with the terms, provisions, or covenants of any of the Senior Priority Documents, regardless of any knowledge thereof which any Senior Priority Secured Party may have.

  • TERM, CONTINUATION AND RENEGOTIATION In this Collective Agreement, "Previous Collective Agreement" means the Collective Agreement that was in effect between the two parties for the period July 1, 2013 to June 30, 2019 including any amendments agreed to by the parties during that period. 1. Except as otherwise specifically provided, this Collective Agreement is effective July 1, 2019 to June 30, 2022. The parties agree that not less than four (4) months preceding the expiry of this Collective Agreement, they will commence collective bargaining in good faith with the object of renewal or revision of this Collective Agreement and the concluding of a Collective Agreement for the subsequent period. 2. In the event that a new Collective Agreement is not in place by June 30, 2022 the terms of this Collective Agreement are deemed to remain in effect until the date on which a new Collective Agreement is concluded. 3. All terms and conditions of the Previous Collective Agreement are included in the Collective Agreement, except where a term or condition has been amended or modified in accordance with this Collective Agreement. 4. a. If employees are added to the bargaining unit established under section 5 of the Public Education Labour Relations Act during the term of this Collective Agreement, the parties shall negotiate terms and conditions that apply to those employees.

  • Formation and Continuation The Partnership is a limited partnership heretofore formed and continued pursuant to the provisions of the Act and upon the terms and subject to the conditions set forth in this Agreement. Except as expressly provided herein to the contrary, the rights and obligations of the Partners and the administration and termination of the Partnership shall be governed by the Act. The Partnership Interest of each Partner shall be personal property for all purposes.

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