Lump Sum Separation Payment Sample Clauses

Lump Sum Separation Payment. The Company shall pay Employee a lump sum separation payment (the “Separation Payment”) in the following gross amount, which shall be subject to legally required and voluntarily authorized deductions and withholdings:
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Lump Sum Separation Payment. On a date that is at least six months after the Resignation Date but before January 1, 2007, DOV shall make a lump sum payment to Xxxxxx in the gross amount of Two Hundred Eighteen Thousand Eight Hundred Seventy Five Dollars ($218,875) (the “Lump Sum Separation Payment”). The Lump Sum Separation Payment represents payment of six months’ of Xxxxxx’x base salary as of the Resignation Date. The Lump Sum Separation Payment shall be paid to Xxxxxx less all deductions and withholdings required by law.
Sample 1
Lump Sum Separation Payment. The Company agrees to make a one-time, lump-sum payment equivalent to twelve (12) months of Executive’s base salary, for a total of $425,000, less applicable withholding. This payment will be made on the first regularly scheduled payroll date after January 1, 2017, and is contingent upon Executive’s continued employment with the Company through the end of the Continued Employment Period without having been terminated for Cause (as defined in Section 1.b.vii. herein) prior to that date.
Sample 1
Lump Sum Separation Payment. In consideration of Executive’s prior service, and the promises and covenants contained in this Agreement, Mirant agrees to make a lump sum separation payment to Executive of $3,400,000 (the “Separation Payment”), minus normal withholdings. The payment will be made in cash within thirty days after the Separation Date. The Separation Payment, and other amounts provided for under this Agreement, shall be in complete satisfaction and discharge of any and all claims Executive may have against Mirant for salary, bonus, long or short term incentives, unpaid accrued vacation pay, employee benefits, perquisites, deferred compensation, severance or separation pay, and any and all other payments or benefits of any type pursuant to any employment agreement, retention agreement, change in control agreement or program or plan not previously or hereafter maintained by Mirant; provided, however, that Executive shall retain her rights under the Mirant Supplemental Benefit Plan and Mirant Deferred Compensation Plan; and provided further that the Separation Payment shall not be treated as compensation of Executive or otherwise taken into account for purposes of calculating contributions to be made for her benefit or benefits to be received by her under the Mirant Employee Savings Plan, Mirant Supplemental Benefit Plan, Mirant Deferred Compensation Plan or Mirant Supplemental Executive Retirement Program.
Sample 1

Related to Lump Sum Separation Payment

  • Separation Payment Except with respect to the Accrued Benefits as defined in the Employment Agreement, if you sign this Agreement, agreeing to be bound by the General Release in Paragraph 3 below and the other terms and conditions of this Agreement described below, and comply with the requirements of this Paragraph 2 (other than the Accrued Benefits), you will receive the compensation and benefits as contemplated by the Employment Agreement. You will not be eligible for the payment and benefits described in this Paragraph 2 unless: (i) you sign this Agreement no later than twenty-one (21) days after you receive it, promptly return the Agreement to the Company after you sign it, and do not timely revoke it; and (ii) you have returned all Company property and documents in accordance with Paragraph 15 below.

  • Lump Sum Severance Payment Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the Release required by Paragraph 4(g) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.

  • Lump Sum Payment NewMil Bancorp shall make a lump sum payment to the Executive in an amount in cash equal to one times the Executive’s annual compensation. For purposes of this Agreement, annual compensation means (a) the Executive’s annual base salary on the date of the Change in Control or the Executive’s termination of employment, whichever amount is greater, plus (b) any bonuses or incentive compensation earned for the calendar year immediately before the year in which the Change in Control occurred or immediately before the year in which termination of employment occurred, whichever amount is greater, regardless of when the bonus or incentive compensation is or was paid. NewMil Bancorp recognizes that the bonus and incentive compensation earned by the Executive for a particular year’s service might be paid in the year after the calendar year in which the bonus or incentive compensation is earned. The amount payable to the Executive hereunder shall not be reduced to account for the time value of money or discounted to present value. The payment required under this Section 2(a)(1) is payable no later than 5 business days after the date the Executive’s employment terminates. If the Executive terminates employment for Good Reason, the date of termination shall be the date specified by the Executive in his notice of termination.

  • Separation Payments Following Executive’s separation from service with Company on or after his Vesting Date (as defined in Section 7), Company shall pay to Executive the sum of THIRTY-FOUR THOUSAND TWO HUNDRED SEVEN and 04/100 Dollars ($34,207.04) per month, beginning six months and one week after Executive’s date of separation for a period of ten (10) years, or until Executive’s death, whichever first occurs (the “Separation Payments”). Such payments shall be subject to any and all applicable withholding, Social Security, employment, income and other taxes or assessments, if any, under the applicable tax law. If Executive should die during the ten-year period during which payments are being made under this Paragraph 3, then those payments shall terminate and future payments, if any, shall be made to Executive’s designated beneficiary(ies) or Executive’s estate in accordance with the provisions of Paragraph 4 of this Agreement.

  • Lump Sum Payments If, during the Employment Period, the Company terminates the Executive's employment other than for Cause, or the Executive terminates employment for Good Reason, the Company shall pay to the Executive the following amounts:

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).

  • Change in Control Benefit If a Change in Control occurs followed within twenty-four (24) months by Separation from Service prior to Normal Retirement Age, the Bank shall distribute to the Executive the benefit described in this Section 2.4 in lieu of any other benefit under this Article.

  • Retention Payment If Employee remains employed by Company or its subsidiaries on the first anniversary of the Closing Date, then Company shall pay to Employee in a lump sum within five (5) business days thereafter, an amount equal to $460,000 (the “Retention Payment”).

  • Cash Severance Payment Provided that Executive complies with Section 5 below, Executive shall receive a lump sum cash payment in an amount equal to fifteen (15) months of Executive’s the effective base salary (less applicable withholding), paid within ten (10) business days of the effective date of the Termination Upon a Change of Control.

  • Termination Payments In the event of termination of the Executive’s employment during the Employment Period, all compensation and benefits set forth in this Agreement shall terminate except as specifically provided in this Section 8.

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