Continuation of Base Salary. The Company will pay Executive (i) on the Commencement Date an amount equal to seven-twelfths of Executive’s Base Salary as in effect immediately prior to the Termination Date, and (ii) each month thereafter during the Severance Compensation Period an amount equal to one-twelfth of Executive’s Base Salary as in effect immediately prior to the Termination Date.
Continuation of Base Salary the Company shall pay to the Executive, beginning on the 15th day of the calendar month that is 60 days after such Qualified Termination of Employment occurs and continuing thereafter on the last day of such initial calendar month and on the 15th day and the last day of each calendar month thereafter until the earlier of the Executive’s date of death or the 24th payment made under this paragraph 2.01(a) has been paid an amount equal to 50% of his monthly base salary, as determined immediately prior to the Qualified Termination of Employment, but disregarding any reductions in such monthly base salary made in the preceding three months unless equal percentage reductions were made in the base salaries of all other comparable executives of the Company. In accordance with Treasury Regulation §1.409A-2(b)(iii), the Executive’s right to this series of installment payments shall at all times be treated as a right to a series of separate payments, and in the event of a “change in control event”, within the meaning of Section 409A(a)(2)(A)(v) of the Internal Revenue Code (“Code”) and Treas. Reg. §1.409A-3(i)(5), all remaining installment payments shall be accelerated and paid in a lump sum, subject to paragraph 2.01(e)(v).
Continuation of Base Salary. An amount equal to (A) the Base Salary (at the rate in effect as of the date of Executive's Total Disability) which would have been payable to Executive if Executive had continued in active employment until the end of the 12-month period following Executive's Termination Date, or such longer period as may be determined by the Board, (B) reduced by amount of disability insurance benefits payable to Executive during such period under any employer-paid disability insurance plan. Payment shall be made at the same time and in the same manner as such compensation would have been paid if Executive had remained in active employment until the end of such period.
Continuation of Base Salary. Unless such Qualifying Termination shall have been by reason of a Qualifying Termination described in Section 1.19(iv):
Continuation of Base Salary. The Company will continue to pay Executive Base Salary as in effect immediately prior to the Termination Date for the duration of the applicable Severance Compensation Period (“Base Salary Continuation”) in accordance with the Company’s normal payroll schedule and payroll practices in effect from time to time, subject to all applicable withholdings and deductions provided, however, that if the Termination Date was preceded by a period of illness leave, then the Base Salary Continuation shall be payable by reference to Executive’s Base Salary as in effect immediately prior to the Executive’s illness leave. In the event that Executive is made redundant, then any statutory redundancy payment to which Executive is entitled shall be offset against the Base Salary Continuation payment calculated as of the Termination Date and Executive shall not be entitled to double recovery in respect of any statutory redundancy payment.
Continuation of Base Salary. Employer shall pay Employee an amount equal to 36 months of Employee’s base annual salary (the “Consideration Amount”). Employee and Employer agree that the Consideration Amount shall be One Million One Hundred Twenty-five Thousand U.S. Dollars ($1,125,000.00), less all employment taxes and other deductions required to be withheld by Employer. It is expressly understood by and between the parties that payment of the Consideration Amount, whether by Employer or by a third party, shall inure to the benefit of Employer. The Consideration Amount shall be paid by check in equal semi-monthly installments on the standard pay dates of the Employer, beginning on July 20, 2002 and ending on July 5, 2005. The checks will be mailed to an address provided by the Employee to the Employer. The Employee is responsible for informing the Employer of any changes in address affecting this Agreement. Direct deposit is not an available option. Payments under this section (as well as other payments to Employee under this Agreement) are contingent on Employee’s continued compliance with all provisions of this Agreement.
Continuation of Base Salary. Executive shall be entitled to continuation of Executive’s then-existing Base Salary through the end of the Term or for 24 months, whichever is longer; provided, however, that if Executive’s employment terminates as a result of the Company’s failure to renew this Agreement as provided in Paragraph 1, Executive shall be entitled to continuation of Executive’s then-existing Base Salary for a period of twelve (12) months. Subject to Paragraph 4(c), the Base Salary continuation payments shall be paid in equal installments in accordance with the Company’s standard payroll practice.
Continuation of Base Salary. The Company will pay Executive an amount equivalent to 15 months of Executive’s Base Salary as in effect immediately prior to the Termination Date, payable in accordance with the Company’s normal payroll schedule and payroll practices in effect from time to time, subject to all applicable withholdings and deductions. Provided, however, that if the Termination Date was preceded by a period of illness leave, then the Base Salary continuation shall be an amount equivalent to 15 months of Executive’s Base Salary as in effect immediately prior to the Executive’s illness leave. In the event that Executive is made redundant, then any statutory redundancy payment to which Executive is entitled shall be calculated as of the Termination Date. The amount of the statutory redundancy payment shall be subtracted from Executive’s base salary continuation and paid out in a lump sum following the expiration of a waiting period of that period of time which it would otherwise have taken Executive to receive the equivalent of the statutory redundancy payment under the Company’s normal payroll schedule and payroll practices in effect as of the Termination Date.
Continuation of Base Salary. For a period of twelve (12) months following the Termination Date, Employee shall receive monthly payments ("Severance Payments") at a rate equal to 150% of the highest monthly base salary (exclusive of bonus, fringe benefits and other non-cash compensation) paid to Employee within the six (6) months preceding the Termination Date. The foregoing Severance Payments are in lieu of any salary, bonus or compensation that would otherwise have been paid with respect to services subsequent to the Termination Date, including, but not limited to, any bonus payments relating to the year in which the termination occurs or to any subsequent year. At the option of the Company, all or part of such Severance Payments may be paid in a lump sum.
Continuation of Base Salary. Notwithstanding the termination of her employment, during the 15 week-period commencing on the Termination Date (the “Pay Continuation Period”), the Corporation agrees to pay the Executive 15 weeks of her base salary, based on her current annual base salary of $1,150,000, payable in accordance with the Corporation’s normal payroll practices (collectively, the “Salary Continuation Payments”). Salary Continuation Payments are not eligible to be deferred under any of the Corporation’s deferred compensation plans. For the avoidance of doubt, (i) any earned but unused vacation time accrued by the Executive will be forfeited as of the Termination Date, pursuant to the Corporation’s Short Term Disability plan, and not paid out, and (ii) the automobile allowance paid to the Executive in accordance with the Corporation’s Executive Car Program will cease as of the Termination Date.
