Consideration to Executive. In consideration of Employer’s entering into this Agreement and Employer’s obligations hereunder and other good and valuable consideration, the receipt of which is hereby acknowledged, and acknowledging hereby that Employer would not have entered into this Agreement without the covenants contained in this Article V, Executive hereby agrees to be bound by the provisions and covenants contained in this Article V.
Consideration to Executive. After receipt of this Release signed by Executive, and the expiration of the seven-day revocation period provided by the Older Workers Benefit Protection Act without Executive's revocation, Company shall pay the Executive the severance benefits as provided in Section 3 of the Agreement.
Consideration to Executive. Provided that Executive accepts and executes this Agreement, complies with its terms, and executes and does not revoke the Supplemental Release attached hereto as Exhibit A (the “Supplemental Release”) within the time periods specified therein, the Company will provide Executive with the following payments and benefits:
a) a series of severance payments in the total gross amount of One Million Eight- Hundred Thirty-One Thousand Six-Hundred Sixty-Seven Dollars ($1,831,667.00), less required withholdings and deductions, payable in equal installments over the course of the period beginning on the Separation Date and concluding on August 10, 2023, on the Company’s regular payroll dates following the Separation Date; provided, however, that the first such payment shall be made on the first administratively practicable payroll date following the Effective Date of the Supplemental Release and shall include all amounts payable during the period after the Separation Date and through the date of such first payment;
b) provided that Executive timely and properly elects continuation coverage (for himself and his spouse) under the Company’s group health plan(s) pursuant to COBRA, the Company shall reimburse Executive for his payment of premiums for such coverage for a period of twenty-four (24) months following the Separation Date or until Executive is no longer entitled to COBRA continuation coverage under Digimarc’s group health plan(s), whichever period is shorter; provided, however, that Executive acknowledges and agrees that the election of COBRA continuation coverage and the payment of any premiums due with respect to such COBRA continuation coverage shall remain Executive’s sole responsibility, and the Company shall assume no obligation for payment of any such premiums relating to such COBRA continuation coverage, unless otherwise required under applicable law;
c) to the extent that Executive has secured COBRA coverage following the Separation Date but becomes ineligible to participate in COBRA continuation coverage prior to the second anniversary of the Separation Date, the Company shall make a series of monthly payments to Executive from the date of cessation of such coverage through the second anniversary of the Separation Date, each of which shall be in the gross amount of the last monthly COBRA premium reimbursed by the Company, less applicable taxes and withholdings, without any requirement that Executive secure other insurance coverage;
d) provided that E...
Consideration to Executive. After receipt of this Release fully endorsed by Executive, and the expiration of the seven- (7) day revocation period provided by the Older Workers Benefit Protection Act without Executive's revocation, Company shall pay:
a) the lump sum of ___________ DOLLARS ($__________ )to Executive (less proper withholding) for severance and the reasonable estimate of COBRA continuation coverage as provided in Section[s] 3.1, 3.2 [and 4.1 and 4.6] of the Agreement;
b) Company will pay [up to $12,500 directly to the third party outplacement firm selected by Executive for up to one year's outplacement services as needed/$12,500 (less proper withholding) in lieu of outplacement services;]
c) the amount of annual cash incentive when due based on the terms of Section[s] 3.3 [and 4.2] of the Agreement [as elected by Executive];[and]
Consideration to Executive. In consideration of PAE’s entering into this Agreement and PAE’s obligations hereunder and other good and valuable consideration, the receipt of which is hereby acknowledged, and acknowledging hereby that PAE would not have entered into this Agreement without the covenants contained in this Article V, Executive hereby agrees to be bound by the provisions and covenants contained in this Article V.
Consideration to Executive. In consideration of Executive’s agreement to amend the Agreement to correct the mutual mistake in Section 7(e) of the Agreement, the Bank shall pay Executive the sum of One Hundred Dollars ($100.00), less any withholdings required by law.
Consideration to Executive. After receipt of this Release signed by Executive, and the expiration of the seven-day revocation period provided by the OWBPA without Executive's revocation, Company shall pay the Executive the severance benefits as provided in the Agreement.
Consideration to Executive. Executive acknowledges that Company’s promise to provide Project Star and Beyond Confidential Information constitutes separate and independent consideration for the restrictive covenants in this Agreement entered into by the Executive.
Consideration to Executive. The consideration to Executive for execution and delivery of this Release to the Company is the obligations of the Company to provide severance payments to Executive on the terms specified in the Agreement.
Consideration to Executive. 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 Executive’s promises in this Agreement.
