Consideration to Employee. The Company shall make the following payments and provide the following additional benefits and consideration to Employee:
Consideration to Employee. In consideration of Employee’s execution of this Agreement, Blackbaud will provide Employee with the payments and benefits described in Section 2 herein.
Consideration to Employee. In consideration of the Employee's release of Claims set forth in Section 1, Demeter hereby agrees as follows:
A. Promptly after Demeter shall receive an aggregate amount of cash payments from Mycogen Corporation of at least One Million Dollars, Demeter shall make a cash payment to the Employee of $200,000.
B. On January 15 of the year following the fiscal year in which Demeter shall have received an aggregate amount of at least Three Million Dollars in the form of license and/or royalty fees, Demeter shall make a cash payment to the Employee of $50,000 (the "Fee Related Payment"). Demeter agrees that the Employee shall have the right to convert all or any portion of the Fee Related Payment to restricted shares of Demeter's common stock at a conversion rate of $1.00 per share.
Consideration to Employee. Employee hereby acknowledges that this Agreement is supported by adequate and sufficient consideration and that in exchange for signing this Agreement and agreeing to the commitments contained herein, Employer will continue to employ Employee as described in this Agreement and will also pay Employee the sum of Five Hundred Dollars ($500.00), less applicable taxes and other withholdings, which payment is expressly conditioned upon Employee’s execution of this Agreement.
Consideration to Employee. [Insert description and reference to applicable provisions detailing the termination compensation and benefits in the Employment Agreement.]
Consideration to Employee. Pursuant to the terms of this Agreement and Section 4(c) of the Employment Agreement, Employee is receiving certain severance and other benefits to which Employee would not otherwise be entitled. In exchange for promises by Employee in this Agreement, including but not limited to a release of claims and promise to cooperate post-termination, and provided that this Agreement is timely signed by Employee, returned to the Company, and not revoked as set forth in Section 15 of this Agreement, the Company shall provide to Employee the following consideration (collectively, the “Consideration”):
Consideration to Employee. The restrictive covenants contained in this Section 4 are supported by consideration to Executive from the Company Parties as specified in this Agreement, including the consideration provided in Sections 1-3. Executive acknowledges that the consideration provided for in Sections 1-3 of this Agreement constitute separate and independent consideration for the restrictive covenants contained in this Section 4 and entered into by Executive, and that the consideration in each such Section 1, 2 and 3 is reasonable and sufficient consideration for Employee’s promises in this Agreement.
Consideration to Employee. In exchange for and in reliance upon Employee’s promises and agreements herein, the Company will provide Employee the following consideration, which includes rights and benefits that Employee would not otherwise be entitled to absent this Agreement:
(a) On the Retirement Date, all performance-based restricted share units (“PSU”) stock to which Employee is entitled under the Company’s Management Incentive Plan that are scheduled to vest on January 31, 2021 (a total of 15,405 PSU), on July 15, 2021 (3,000 PSU), and on January 31, 2022 (2,850 PSU), as described in Exhibit 2 hereto, shall cease to represent PSU stock and shall be converted into non-performance-based restricted share units (“RSU”) stock. Company agrees to accelerate vesting of such RSU stock, said RSU stock to vest on the Retirement Date or immediately upon expiration of the Revocation Period (as defined in Section 6(b)), whichever is later (“Accelerated Shares”). Accelerated Shares will be forfeited if Employee fails to satisfy all tax obligations with respect to such shares by August 15, 2020. In the event the Accelerated Shares vest pursuant to this Agreement after Employee’s Retirement Date, this Agreement modifies and amends the agreement(s) awarding such Accelerated Shares so that the Accelerated Shares are not forfeited upon termination of employment;
(b) Consistent with the terms of the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), Employee will be allowed to continue coverage under the Company’s health insurance benefit plan(s) at Employee’s expense for the time period required by law provided that Employee makes a timely election to do so. The terms and conditions of coverage provided under any Company sponsored benefit plan shall be subject to change from time to time at the discretion of the Company. Any payments or other benefits currently being provided to Employee that are not expressly set forth in Section 2 of this Agreement shall cease as of the Retirement Date (and Employee agrees to make no claim to entitlement to any form of compensation or other benefit from Company beyond those expressly provided for above). The Company shall be entitled to withhold from any amounts payable to Employee under this Agreement any federal, state, local, or foreign withholding or other taxes or charges that the Company concludes, in the exercise of its discretion, that it is required by applicable law to withhold.
Consideration to Employee. After receipt of this Release fully endorsed by Employee, and the expiration of the seven day revocation period provided by the Older Workers Benefit Protection Act without Employee's revocation, the Company shall pay the applicable benefits to the Employee specified in Section 4(iii) of the Agreement.
Consideration to Employee. A. In consideration for the promises set forth in this Agreement and Employee’s execution of this Agreement, but subject to Paragraph 9 of this Agreement entitled “Review and Revocation Period,” Company shall pay to Employee a severance amount equal to $246,093.00 (less deductions, withholdings and other payments required under applicable law), payable over the six month period immediately following the Effective Date (as defined in Section 9 hereof) in accordance with the Company’s payroll procedures for employees. Employee agrees that this sum is adequate consideration for the promises he is making in this Agreement and the rights and claims he is waiving and releasing under this Agreement.
B. As additional consideration, the Company agrees that notwithstanding the terms of any individual agreement, the vesting period of all stock options held by Employee on the Termination Date that remain unvested shall be accelerated such that all such unvested stock options shall be fully vested as of the Termination Date. In addition, the Company agrees that notwithstanding any early termination provisions set forth in any option grant letter or option award agreement issued to Employee by the Company, all stock options held by Employee on the Termination Date shall remain exercisable until the scheduled expiration of the stock options, as provided in such letters or agreements, as the case may be.
