Discretionary Salary Continuation Sample Clauses

Discretionary Salary Continuation. To the extent the Company exercises its right to put into effect an Option Noncompete Period, and no CIC Severance Payment has been made pursuant to Section 4.6, the Company, after receiving from you an executed irrevocable release (as described in Section 4.8 below), will pay you on a pro-rated basis the salary you received in your last role with the Company (“Option Period Payment”). Such salary shall begin to accrue on the later of (i) the first day of the Option Noncompete Period and (ii) the date of receipt by the Company of your executed irrevocable release (as described in Section 4.8 below). You further acknowledge and agree that the Company may, at any time and in its sole and absolute discretion, choose to waive its rights under this Agreement and not elect to exercise (or, if applicable, cease) payment of the salary continuation during the Option Noncompete Period.
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Discretionary Salary Continuation. To the extent the Company exercises its right to put into effect an Option Noncompete Period, and to the extent no CIC Severance Payments are being made pursuant to Section 4.6 during the Option Noncompete Period, the Company, after receiving from you an executed irrevocable release (as described in Section 4.8 below), will pay you on a pro-rated basis the salary you received in your last role with the Company (“Option Period Payment”). Such salary shall begin to accrue on the later of (i) the first day of the Option Noncompete Period and (ii) the date of receipt by the Company of your executed irrevocable release (as described in Section 4.8 below). You further acknowledge and agree that the Company may, at any time and in its sole and absolute discretion, choose to waive its rights under this Agreement and not elect to exercise (or, if applicable, cease) payment of the salary continuation during the Option Noncompete Period, at which point the Option Noncompete Period also will terminate at such time.
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Discretionary Salary Continuation. To the extent the Company exercises its right to put into effect an Option Noncompete Period, and no CIC Severance Payment has been made pursuant to Section 4.6, the Company, after receiving from you an executed irrevocable release (as described in Section 4.8 below), will pay you on a pro-rated basis the salary you received in your last role with the Company (“Option Period Payment”). Such salary shall begin to accrue on the later of (i) the first day of the Option Noncompete Period and (ii) the date of receipt by the Company of your executed irrevocable release (as described in Section 4.8 below). You further acknowledge and agree that the Company may, at any time and in its sole and absolute discretion, choose to waive its rights under this Agreement and not elect to exercise (or, if applicable, cease) payment of the salary continuation during the Option Noncompete Period. In the event that Company waives its rights under this Agreement to not elect to exercise payment of the salary continuation for any reason, all your obligations relating to the Initial Non Compete Period or Option Noncompete Period are also waived.
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Discretionary Salary Continuation. If, upon notice from Employee of a new employer or enterprise under Paragraph 2 above, the Company elects to enforce the noncompetition restrictions of Paragraph 1(d) above, the Company will pay Employee, for the duration of the Restricted Period (or for any shorter portion of the Restricted Period the Company may choose to enforce), the salary in effect in Employee’s last role with the Company at the time of Employee’s separation from the Company; provided, however, that the Company may, at any time and in its sole and absolute discretion, choose to waive its rights under this Agreement and not commence (or, if applicable, cease) payment of the 12-month salary continuation under this Paragraph 3(a); and further provided, that if Employee is terminated by the Company for cause, the Company shall not have an obligation to make any payment under this Paragraph 3(a), and that the other consideration recited in Paragraph 1(f) above remains good and valuable consideration for the Company’s full enforcement of this Agreement.
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Related to Discretionary Salary Continuation

  • Salary Continuation An employee who suffers a compensable workers’ compensation injury, including being assaulted by a student, and who is temporarily and totally disabled as a result of the injury may be eligible to receive compensation from the Bureau of Workers’ Compensation (BWC). This section does not affect or replace the employees’ need to file claims with the BWC for medical treatment.

  • Salary Continuance The Employer will continue the salary and benefits coverage of an Employee who is granted leave without pay in accordance with Article 13.01 and will bill the relevant Union for the Employee’s salary. If the leave extends beyond three calendar months, the Employer will, from that point, bill the relevant Union 1.2 times the Employee’s salary until the leave is concluded.

  • Discretionary Bonus The Executive shall be entitled to participate in an equitable manner with all other senior management employees of the Bank in discretionary bonuses that may be authorized and declared by the Board of Directors to its senior management executives from time to time. No other compensation provided for in this Agreement shall be deemed a substitute for the Executive's right to participate in such discretionary bonuses when and as declared by the Board.

  • Benefit Continuation (a) For leaves taken pursuant to Clause 21.1, 21.2 and 21.3 the Employer shall maintain coverage for medical, extended health, dental, group life and long-term disability, and shall pay the Employer’s share of these premiums. (b) Notwithstanding Clause 21.4(a) above, should an employee be deemed to have resigned in accordance with Clause 21.5 the Employer will recover monies paid pursuant to this clause.

  • Annual Discretionary Bonus Effective as of the Effective Date, the Executive will be eligible to earn an annual performance bonus of up to 40% of the Executive’s Base Salary (the “Target Bonus”), based upon the Board’s assessment of the Executive’s performance and the Company’s attainment of targeted goals as set by the Board in its sole discretion. To the extent the Executive’s Base Salary and/or target bonus percentage of Base Salary is changed during the year to which the performance bonus relates, the Target Bonus shall be calculated based on base salary actually paid during such year (and not solely on the Executive’s Base Salary at the end of such year) and shall apply the initial target bonus percentage of Base Salary and the revised target bonus percentage of Base Salary based on the portion of the year during which each was in effect. The Board may determine to provide the bonus in the form of cash, equity award(s), or a combination of cash and equity. Following the close of each calendar year, the Board will determine whether the Executive has earned a performance bonus, and the amount of any performance bonus, based on the set criteria. No amount of the annual bonus is guaranteed, and the Executive must be an employee in good standing on the date of payment in order to be eligible for any annual bonus, except as specifically set forth below. The annual performance bonus, if earned, will be paid by no later than March 15 of the calendar year after the year to which it relates. The Executive’s bonus eligibility will be reviewed on an annual or more frequent basis by the Board and is subject to change in the discretion of the Board.

  • Salary Benefits and Bonus Compensation 3.1 BASE SALARY. Effective July 1, 2000, as payment for the services to be rendered by the Employee as provided in Section 1 and subject to the terms and conditions of Section 2, the Employer agrees to pay to the Employee a "Base Salary" at the rate of $180,000 per annum, payable in equal bi-weekly installments. The Base Salary for each calendar year (or proration thereof) beginning January 1, 2001 shall be determined by the Board of Directors of Avocent Corporation upon a recommendation of the Compensation Committee of Avocent Corporation (the "Compensation Committee"), which shall authorize an increase in the Employee's Base Salary in an amount which, at a minimum, shall be equal to the cumulative cost-of-living increment on the Base Salary as reported in the "Consumer Price Index, Huntsville, Alabama, All Items," published by the U.S. Department of Labor (using July 1, 2000, as the base date for computation prorated for any partial year). The Employee's Base Salary shall be reviewed annually by the Board of Directors and the Compensation Committee of Avocent Corporation.

  • Base Compensation The Bank agrees to pay the Employee during the ----------------- term of this Agreement a salary at the rate of $185,000 per annum, payable in cash not less frequently than monthly. The Board shall review, not less often than annually, the rate of the Employee's salary, and in its sole discretion may decide to increase his salary.

  • Salary Compensation As salary compensation for Employee's services hereunder and all the rights granted hereunder by Employee to the Company, the Company shall pay Employee a gross salary of not less than $175,000 during the term of this Agreement. Employee's salary shall be payable in bi-weekly increments in accordance with the Company's payroll practices for salaried employees, upon the condition that Employee fully and faithfully performs Employee's services hereunder in accordance with the terms and conditions of this Agreement. The Company shall deduct and withhold from the compensation payable to Employee hereunder any and all amounts required to be deducted or withheld by the Company under the provisions of any statute, regulation, ordinance, or order and any and all amendments hereinafter enacted requiring the withholding or deducting from compensation payable to employees.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Salary Severance A single, lump sum payment equal to twelve (12) months of the Executive’s Salary, less applicable withholdings.

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