Consideration from Company Sample Clauses
Consideration from Company. In exchange for Executive's obligations under this Agreement, the Company shall pay Executive those severance payments and benefits described in Sections 7, 8 and 9, as applicable, of the Employment Agreement, which are incorporated herein by reference and made a part of this Agreement. Executive acknowledges that Executive is not otherwise entitled to receive such severance payments and benefits, these severance payments and benefits are conditioned on Executive's compliance with the terms of this Agreement and the Employment Agreement, including without limitation Sections 11 and 12 thereof. Executive acknowledges and agrees that Company will withhold any taxes required by applicable law from the severance payments and benefits.
Consideration from Company. Upon this Agreement becoming irrevocable by Executive, and in consideration of Executive's promises and covenants herein, Company agrees as follows:
(a) Company shall pay to Executive the total sum of four hundred and twelve thousand five hundred dollars and zero cents ($412,500.00) representing 150 percent of Executive's current annual base salary, to be paid in biweekly amounts of ten thousand five hundred seventy six dollars and ninety three cents ($10,576.93), less all applicable local, state and federal taxes and withholdings, commencing on the first regular pay date of the Company after the Separation Date and continuing for twelve (12) months, and at the end of such twelve (12) month period, the remainder shall be payable in a lump sum payment, less all applicable local, state and federal taxes and withholdings;
(b) Company shall reimburse Executive for all expenses incurred by Executive on behalf of Company prior to the date of this Agreement (such expenses to reimbursed in accordance with Company's expense reimbursement policies in effect as of the date immediately prior to this Agreement);
(c) Company shall reimburse Executive for reasonable out-placement services for a period of up to twelve (12) months (not to exceed $15,000);
(d) Company shall reimburse Executive for his legal expenses incurred in connection with the review and negotiation of this Agreement (not to exceed $7,500);
(e) Company shall cause (i) an additional twenty five percent (25%) of the restricted stock awarded by Company to Executive on 10/24/02 to transfer immediately, and (ii) an additional twenty five percent (25%) of the non-qualified stock options granted by Company to Executive on 10/24/02 to accelerate and vest immediately; provided, further, that Executive shall have six (6) months following the Separation Date to exercise all such stock options and previously vested stock options (without regard to any contrary provision of the Company's 2002 Long-Term Incentive Plan);
(f) Company shall pay Executive any accrued pay in lieu of unused vacation; and
(g) Company shall continue to provide, for a period of twelve (12) months after Executive's Separation Date, or such longer period as may be provided by the terms of the appropriate plan, program, practice or policy, benefits to Executive and/or Executive's eligible dependants substantially equivalent to those which would have been provided to them if Executive's employment had not been terminated; provided, however, that ...
Consideration from Company. The Company shall pay, or cause to be paid, a total of $1,000,000.00 to Harbour (the “Incentive Payment”). The Incentive Payment shall be reduced for taxes and other amounts required to be withheld by the Company. The Incentive Payment shall be made in four equal payments of $250,000.00, less taxes and authorized deductions. Each portion of the Incentive Payment shall vest as described below and shall be due and payable to Harbour within thirty (30) days of the relevant vesting date: 1 $ 250,000.00 March 31, 2026 2 $ 250,000.00 June 30, 2026 3 $ 250,000.00 September 30, 2026 4 $ 250,000.00 December 31, 2026
Consideration from Company. In consideration for Executive’s promises and covenants as set forth in this Waiver and Release, including, without limitation, Executive’s agreement to execute a Supplemental Waiver and Release in the form of Exhibit A hereto on or following the Retirement Date, the Company agrees to the following:
Consideration from Company. Company agrees that through its development of the Facility during the term of this Agreement:
Consideration from Company. In consideration of Employee’s decision to enter into this Release, Company will provide Employee with the following: