Continued Salary Sample Clauses
Continued Salary. If BNC terminates the Executive’s employment without Cause or if the Executive terminates employment for Good Reason, the Executive shall continue to receive the Base Salary for the unexpired term of this Employment Agreement, but he shall not be entitled to continued participation in BNC’s or a subsidiary’s 401(k) retirement plan(s) or any stock-based plans. BNC and the Executive acknowledge and agree that the compensation and benefits under this paragraph (a) shall not be payable if compensation and benefits are payable or shall have been previously paid to the Executive under Article 7 of this Agreement. That is, the parties acknowledge and agree that the Executive shall not be entitled to duplicative compensation and benefit payments under paragraph (a) and under Article 7 if the Executive’s employment is terminated without Cause or if the Executive terminates employment with Good Reason.
Continued Salary. An amount equal to his current Annual Base Salary for the shorter of (A) his Short-Term Disability Period, or (B) the period he remains Disabled. For purposes hereof, Executive’s “current Annual Base Salary” shall be the rate in effect on the day immediately prior to the date upon which the Company is made aware of Executive’s Disability. Executive will receive such salary payments in accordance with the Company’s normal executive payroll processes.
Continued Salary. In consideration for the promises made herein, the Company shall provide Xx. Xxxxx bi-weekly payments commencing on the next regularly scheduled pay cycle following the date the Release of Claims referenced in paragraph 2 above becomes binding upon him in the amount of $9,200.00, less applicable taxes and withholdings, for a period of two (2) months. The total gross amount of these payments is $36,800.
Continued Salary. If Citizens South terminates the Executive's employment without Cause or if the Executive terminates employment for Good Reason, the Executive shall continue to receive the Base Salary for the unexpired term of this Employment Agreement, but he shall not be entitled to continued participation in Citizens South's or a subsidiary's 401(k) retirement plan or any stock-based plans. Payments of Base Salary under this Section 6.4(a) shall not be reduced or offset by any other compensation the Executive receives through other employment after termination of his employment with Citizens South. The provisions of this Section 6.4 are subject to Article 9 of this Employment Agreement. Payments of Base Salary shall be made in semi-monthly installments and shall commence within 30 days following the Executive's termination of employment pursuant to this Section 6.4. Notwithstanding the foregoing, in the event the Executive is a Specified Employee (within the meaning of Treasury Regulations ss.1.409A-1(i)), then, to the extent necessary to avoid penalties under Code Section 409A, any payments to which Executive is entitled for the first six months following termination of employment shall be held and shall be paid to the Executive on the first day of the seventh month following termination of the Executive's employment. The withheld payments plus interest at six percent (6%) shall be paid to the Executive on the first day of the seventh month following the Executive's termination of employment pursuant to this Section 6.4. Citizens South and the Executive acknowledge and agree that the compensation and benefits under this Section 6.4 shall not be payable if compensation and benefits are payable or shall have been previously paid to the Executive under Article 7 of this Agreement. That is, the parties acknowledge and agree that the Executive shall not be entitled to duplicative compensation and benefit payments under this Section 6.4 and under Article 7 if the Executive's employment is terminated without Cause or if the Executive terminates employment with Good Reason.
Continued Salary. The Company will pay Executive continuing payments of severance pay at a rate equal to $31,250 per month ($375,000 annually), for twelve (12) months from the Termination Date (the “Severance Payment Period”), to be paid periodically in accordance with the Company’s normal payroll policies.
Continued Salary. If Citizens South terminates the Executive's employment without Cause or if the Executive terminates employment for Good Reason, the Executive shall continue to receive the Base Salary for the unexpired term of this Employment Agreement, but he shall not be entitled to continued participation in Citizens South's or a subsidiary's 401(k) retirement plan or any stock-based plans. Payments of Base Salary under this Section 6.4(a) shall not be reduced or offset by any other compensation the Executive receives through other employment after termination of his employment with Citizens South. If Citizens South Bank is not in compliance with its minimum capital requirements or if payments under this Section 6.4(a) would cause Citizens South Bank's capital to be reduced below minimum capital requirements, payments under this Section 6.4(a) shall be deferred until such time as Citizens South Bank is in capital compliance. The provisions of this Section 6.4 are subject to Article 9 of this Employment Agreement. Citizens South and the Executive acknowledge and agree that the compensation and benefits under this Section 6.4 shall not be payable if compensation and benefits are payable or shall have been previously paid to the Executive under Article 7 of this Agreement. That is, the parties acknowledge and agree that the Executive shall not be entitled to duplicative compensation and benefit payments under this Section 6.4 and under Article 7 if the Executive's employment is terminated without Cause or if the Executive terminates employment with Good Reason.
Continued Salary. The Company will pay to the Executive an amount equal to eighteen (18) months of Base Salary;
Continued Salary. Continued payment of Employee’s base salary in accordance with the Employer’s regular payroll practices, less all relevant taxes and other withholdings, through the Termination Date. For the avoidance of doubt, the Separation Benefits outlined in this Section 2 shall consist of base salary continuation only, as set forth herein, and shall not include any bonus payments or any other payments whatsoever. Employee acknowledges that he is not entitled to the benefits outlined in Section 2 of this Agreement but for his execution of the Agreement and, in particular, the provisions of Sections 5 to 8 of the Agreement. Employee acknowledges that he is not entitled to any further compensation or benefits from Employer pursuant to the Agreement (except as set forth in Section 3 of this Agreement) as a result of his employment, or for any reason bearing any relationship with Employer. Employee further acknowledges and agrees that he has been paid in full for any and all wages owed to him by Employer as a result of his employment and that no additional compensation whatsoever is owed to him.
Continued Salary. Employee shall continue to receive his salary after termination, whether voluntary or otherwise, if Employee has acted as a guarantor of debts of the Company until Employee has been removed from liability on such guarantee agreement.
Continued Salary. From the Effective Date through the one-year anniversary of the Effective Date (the “Continuation Period”), the Company shall pay Executive his base salary at the rate of $300,000 per year in accordance with the Company’s standard payroll practices and subject to: (a) all withholdings required pursuant to any applicable local, state or Federal law; and (b) Section 9.4 below.