Compensation During Transition Period. As compensation for the services to be rendered by the Executive to the Company during the Transition Period, the Executive shall be paid the following compensation and benefits:
Compensation During Transition Period. During the Transition Period, the Company will pay Executive his base salary currently in effect immediately before the Date of Transition, which salary shall be payable on the Company's regular payroll schedule. The Company will also reimburse Executive for reasonable out-of-pocket expenses incurred by Executive in performing the Transition Services in accordance with the applicable expense reimbursement policies of the Company as in effect from time to time; provided that Executive has received prior written or emailed approval from the Company’s Chief Executive Officer (or the Chief Executive Officer’s designee) for either the specific expense or for the reimbursement of reasonable expenses for the project or task to which the expenses relate.
Compensation During Transition Period. During the Transition Period, as Employee's sole compensation and consideration for Employee's services and responsibilities as set forth in Section 3(a), NLCI will pay Employee, and Employee will accept, only such compensation and benefits as are expressly itemized in this Section 4:
Compensation During Transition Period. Subject to Executive’s compliance with all the terms and conditions of this Agreement, during the Transition Period, the Company will pay Executive a base salary of forty thousand dollars ($40,000) per annum, less standard deductions and withholdings required by law or directed by Executive, and maintain Executive’s health care allowance for herself and her covered family memb\''',,jjers, subject to the terms and conditions of the applicable benefit plans or programs. Executive will be paid on the regular payroll dates of the Company.
Compensation During Transition Period. As compensation for services performed as Special Advisor during the Transition Period, subject to you honoring all of your obligations under this Letter Agreement, you will be paid an annualized base salary equal to $668,226.50, paid in regular payroll installments (commencing on the first regular payroll date after April 19, 2024) and subject to applicable taxes and withholding (the “Special Advisor Payment”). You will be eligible for a bonus under the existing annual cash bonus plan for 2024, which will be prorated based on your period of service during 2024 as Executive Vice President and Chief Human Resources and Legal Officer. The bonus will be paid when 2024 bonuses are generally paid to senior executives of the Company. You are not eligible to receive a bonus based on your service as Special Advisor. While serving as Special Advisor, you will remain eligible to participate in and receive benefits from the Company’s welfare benefit plans (e.g., medical, dental, and vision) provided you continue to satisfy the applicable eligibility requirements for such benefits during this period. You will be permitted to make contributions to the Company’s Benefits Restoration Plan and the Company’s Retirement Savings Plan. Additionally, on April 20, 2026, provided there has been no Cooperation Failure or Recoupment Outcome, each as defined herein, prior to such date, you will be paid an additional separation payment of $334,113.25, less required tax withholdings and authorized deductions (the “Additional Payment”, together with the Special Advisor Amount, the “Transition Compensation”), subject to you honoring all your obligations under this Letter Agreement.
Compensation During Transition Period. During the Transition Period, Employee shall continue to receive his current base salary, subject to required withholdings, deductions and tax reporting requirements, and ancillary benefits. Within the next paycheck period after the Separation Date, the Company will pay Employee any base salary that has been accrued but not yet paid, subject to any required withholdings, deductions, and tax reporting requirements.
Compensation During Transition Period. During the Transition Period, Executive will continue to (a) be paid Executive’s current base salary, subject to applicable withholdings or deductions, in accordance with Company’s normal payroll policies and practices, (b) be eligible to participate in employee benefits and (c) participate in the CIC Policy. In addition, Executive will remain eligible to earn and receive a cash bonus with respect to the first half of the Company’s current fiscal year (the “First Half Bonus”) under the Company’s FY24 Bonus Plan (the “Bonus Plan”), subject to its terms and conditions, provided, however, that Executive’s individual performance component with respect thereto shall be deemed achieved at 100% of target, subject to Executive’s continued employment through the payment date of the First Half Bonus, if any. Executive shall not be eligible to earn or receive any bonus payment with respect to the second half of the Company’s current fiscal year under the Bonus Plan. On the Separation Date, Executive shall cease to be a participant in the CIC Policy.
Compensation During Transition Period. During the Transition Period, as Employee's sole compensation and consideration for Employee's services and responsibilities under this Agreement, Employer will pay Employee, and Employee will accept, only such compensation and benefits as are specifically set forth in this Section 3. ---------
Compensation During Transition Period. During the Transition Period, the City will not pay CDT the Base Management Fee. During the Transition Period, the City will pay all reason- able expenses directly associated with transitioning to CDT’s management of the Centers, which will commence on January 1, 2022, and any of CDT’s payroll expenses associated with said transition.
Compensation During Transition Period. During the Transition Period, the Company agrees to pay the Employee, in lawful money of the United States of America, his base compensation as in effect as of the President Termination Date which is semi-monthly payments at an annual rate of $168,000, less all lawful deductions. The Employee shall not be entitled to receive any bonus or other incentives generally available to the Company's employees and management. Such payments shall be made by automatic direct deposit, subject to all applicable federal, state and local withholdings. The Employee agrees that he shall be responsible for all of the Employee's federal, state and local tax assessments, if any, associated with these payments and further agrees to indemnify and hold harmless the Company for any tax assessment, penalty, or other costs, if any, associated with the Employee's taxes for this payment.
