Maximum Cash Settlement Sample Clauses

Maximum Cash Settlement. If this Employment Contract is terminated prior to the expiration of its term, and the parties agree upon a cash settlement as a result of such termination, the cash settlement, including all of its component parts, may not exceed the amount of the monthly salary referenced in Item 4 multiplied by the number of months left on the unexpired term of the Employment Contract, not to exceed eighteen (18) months. Any such settlement may not provide for other non-cash items, except that the settlement may provide for health benefits to be continued until Administrator finds other employment or the number of months left on the unexpired term of the Employment Contract, not to exceed eighteen (18) months, whichever occurs first.
Sample 1Sample 2Sample 3See All (21)
AutoNDA by SimpleDocs
Maximum Cash Settlement. If this contract is terminated, the maximum cash settlement that Xx. Xxxxxxx may receive shall not exceed his monthly salary multiplied by the number of months remaining on the contract. However, if the unexpired term exceeds 18 months, any cash settlement may not exceed Xx. Xxxxxxx’x monthly salary in effect at the time of termination multiplied by 18. Any cash settlement shall not include any other noncash items except health benefits, which may be continued for the same duration of time as covered in the settlement, or until Xx. Xxxxxxx finds other employment, whichever occurs first. The intent of this provision is to satisfy the requirements of Government Code sections 53260-53264, and this provision shall be interpreted in a manner consistent with those statutes.
Sample 1
Maximum Cash Settlement. In accordance with Government Code section 53260 and 53621, in the event of a material breach in termination of this Contract, the parties agree that any cash settlement shall not exceed the sums due as total compensation for the unexpired term of this Contract. However, if the unexpired term of the Contract is greater than eighteen (18) months, the maximum cash settlement shall be an amount equal to the monthly salary of Xx. Xxxxxxxx-Xxx multiplied by eighteen (18). Any such settlement shall not include any other noncash items except health benefits, which may be continued for the same duration of time as covered in the settlement or until Xx. Xxxxxxxx-Xxx finds other employment, whichever occurs first.
Sample 1
Maximum Cash Settlement. Except as stated in Paragraph C, above, regarding the 2019-2020 probationary period, if this Agreement is terminated without cause, the maximum cash settlement that Xxxxxx may receive shall be an amount equal to her monthly salary multiplied by the number of months left on the unexpired term of the agreement not to exceed twelve (12) months. Any cash settlement shall not include any other non-cash items except health benefits which may be continued for the same period of time or until Xxxxxx finds other employment, whichever occurs first.
Sample 1
Maximum Cash Settlement. In accordance with Government Code section 53260 and 53621, in the event of a material breach in termination of this Contract, the parties agree that any cash settlement shall not exceed the sums due as total compensation for the unexpired term of this Contract. However, if the unexpired term of the Contract is greater than eighteen (18) months, the maximum cash settlement shall be an amount equal to the monthly salary of the employee multiplied by eighteen (18). Any such settlement shall not include any other non cash items except health benefits, which may be continued for the same duration of time as covered in the settlement or until the employee finds other employment, whichever occurs first.
Sample 1

Related to Maximum Cash Settlement

  • Gross Settlement Amount Except as otherwise provided by Paragraph 9 below, Defendant promises to pay $400,000.00 and no more as the Gross Settlement Amount and to separately pay any and all employer payroll taxes owed on the Wage Portions of the Individual Class Payments. Defendant has no obligation to pay the Gross Settlement Amount (or any payroll taxes) prior to the deadline stated in Section 5 of this Agreement. The Administrator will disburse the entire Gross Settlement Amount without asking or requiring Participating Class Members or Aggrieved Employees to submit any claim as a condition of payment. None of the Gross Settlement Amount will revert to Defendant.

  • Settlement Amount If the Non-Defaulting Party has declared an Early Termination Date pursuant to Section 7.2(b), the Non-Defaulting Party shall have the right to (i) accelerate all amounts owing between the Defaulting Party and the Non-Defaulting Party and to liquidate and terminate the undertakings set forth in this Agreement as between the Defaulting Party and the Non-Defaulting Party; and (ii) withhold any payments due to the Defaulting Party under this Agreement pending payment of the Termination Payment. The Non-Defaulting Party will calculate, in a commercially reasonable manner, the Settlement Amount with respect to the Defaulting Party’s obligations under the Agreement and shall net the Settlement Amount in the manner provided for in Section 7.3(c).

  • Payments from the Gross Settlement Amount The Administrator will make and deduct the following payments from the Gross Settlement Amount, in the amounts specified by the Court in the Final Approval:

  • Funding of Gross Settlement Amount Defendant shall fully fund the Gross Settlement Amount, and also fund the amounts necessary to fully pay Defendant’s share of payroll taxes by transmitting the funds to the Administrator no later than 14 days after the Effective Date.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!