Non-Contingent Payments. Executive and the Company acknowledge and agree that (a) Executive shall continue to remain an active, full-time employee of the Company, receiving base salary and benefits (in each case at the same amount and level as in effective immediately prior to the date hereof, provided however, that any benefits available to the Executive may be modified to the extent such benefits are modified for the other members of the executive staff of the Company), through the earlier of _________________ or the date on which the Company informs the Employee that he no longer must report to work (the “Termination Date”), (b) the Employee Agreement shall remain in full force and effect in accordance with their terms, and (c) except as specifically revised by, amended by, or as otherwise set forth in, this Separation Agreement, the Employment Agreement shall remain in full force and effect in accordance with its terms. On the Termination Date, the Executive will resign all of his positions with the Company, including any positions as director or officer of any of the Company’s subsidiaries and will sign any documents reflecting such resignations reasonably requested by the Company. The Company shall also pay all accrued but unused vacation through the Termination Date, such payment to be made on the first payroll date following the Termination Date. The Company shall promptly reimburse Executive for any outstanding, reasonable business expenses that Executive has incurred on the Company’s behalf through the Termination Date, provided the Company receives appropriate documentation pursuant to the Company’s business expense reimbursement policy.
Non-Contingent Payments. The Company has paid and/or shall pay the following to the Executive regardless of whether he agrees to the terms of this Release Agreement: (a) all of the Executive’s base salary accrued through the Termination Date; (b) reimbursement for any and all business expenses required to be reimbursed to the Executive pursuant to the Company’s expense reimbursement policy, and (c) Executive’s accrued but unused vacation.
Non-Contingent Payments. 1. $1,500,000.00 shall be in cash payable at Closing, subject to any adjustment as provided in Paragraph "EIGHTH (R)".
Non-Contingent Payments. No later than 30 days following the Resignation Date and in all events no later than the date required by applicable law, the Company will pay the following to Executive: (a) all of Executive’s annual salary accrued and unpaid through the Resignation Date; (b) all vested benefits accrued through the Resignation Date, if any, under the terms of any employee benefit plans applicable to Executive; (c) reimbursement for any and all reasonable business expenses incurred by Executive prior to the Resignation Date and submitted by Executive and approved by the Company pursuant to the terms of the Company’s expense reimbursement policy; and (d) Executive’s accrued but unused vacation time. For avoidance of doubt, Executive agrees and acknowledges that, as of the Resignation Date, Executive will not have any vested rights to receive (and will not receive) any cash bonus for 2015 or any equity awards from the Company or the OP, except to the extent otherwise specifically provided for herein pursuant to Section 3.
Non-Contingent Payments. Subject to Section 6.1.1, AstraZeneca will pay to Ironwood the following one-time, non-contingent, non-refundable payments (collectively, the “Non-Contingent Payments”) in accordance with the timeline set forth below:
(a) No later than January 31, 2021 $10,000,000
(b) No later than January 31, 2023 $10,000,000
(c) No later than January 31, 2024 $15,000,000 Notwithstanding anything to the contrary in this Agreement, in the event that the Agreement is terminated or expires prior to the payment of any Non-Contingent Payment(s), such Non-Contingent Payment(s) shall remain payable to Ironwood, regardless of the termination or expiration of the Agreement or the reason for termination.
Non-Contingent Payments. On each date specified below, the Company Payees shall be entitled to receive the amount specified below for such date, subject in each case to adjustment pursuant to Sections 2.1(b)(i)(F) and 2.7 below, for a total aggregate payment of up to Thirty Four Million Dollars ($34,000,000) (collectively, such payments constitute the “Non-Contingent Payments”). The Non-Contingent Payments shall be payable by Parent, as follows:
Non-Contingent Payments. Executive and the Company acknowledge and agree that (a) Executive shall continue to remain an active, full-time employee of the Company, receiving base salary and benefits (in each case at the same amount and level as in effect immediately prior to the date hereof; provided, however, that any benefits available to the Executive may be modified to the extent such benefits are modified for the other members of the executive staff of the Company), through the later of December 31, 2013 or the date immediately prior to the date on which the new newly elected President and Chief Executive Officer of the Company becomes an employee of the Company (the “Resignation Date”), which is expected to be January 1, 2014, and (b) the Employment Agreement, the Employee Agreement and the Equity Documents shall remain in full force and effect in accordance with their terms prior to the Resignation Date. On the Resignation Date, the Executive will resign all of his positions with the Company, including any positions as director or officer of any of the Company’s subsidiaries, but excluding his position on the Company’s Board of Directors and will sign any documents reflecting such resignations reasonably requested by the Company. The Company shall also pay all accrued but unused vacation through the Resignation Date, such payment to be made on the first payroll date following the Resignation Date. The Company shall promptly reimburse Executive for any outstanding, reasonable business expenses that Executive has incurred on the Company’s behalf through the Resignation Date, provided the Company receives appropriate documentation pursuant to the Company’s business expense reimbursement policy.
Non-Contingent Payments. No later than 30 days following the Expiration Date, and in all events no later than the date required by applicable law, the Gramercy Parties shall pay the following to the Executive: (a) the Executive’s salary accrued and unpaid through the Expiration Date; (b) all vested benefits accrued through the Expiration Date, if any, under the terms of any employee benefit plans (as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended) applicable to the Executive; (c) reimbursement for any and all reasonable business expenses incurred by the Executive prior to the Expiration Date pursuant to the terms of Gramercy’s expense reimbursement policy; and (d) the Executive’s accrued but unused vacation time, which shall total 3.5 days as of June 30, 2012, unless such vacation time is earlier used.
Non-Contingent Payments. No later than 30 days following the Resignation Date, and in all events no later than the date required by applicable law, the Company will pay the following to Executive: (a) all of Executive’s annual salary accrued and unpaid through the Resignation Date; (b) all vested benefits accrued through the Resignation Date, if any, under the terms of any employee benefit plans applicable to Executive; (c) reimbursement for any and all reasonable business expenses incurred by Executive prior to the Resignation Date pursuant to the terms of the Company’s expense reimbursement policy; and (d) Executive’s accrued but unused vacation time.
Non-Contingent Payments. No later than 30 days following the Resignation Date, the Company will pay the following to the Executive, regardless of whether he agrees to the terms of this Agreement: (a) all of the Executive’s Annual Salary (as that term is defined in the Employment Agreement) accrued through the Resignation Date; (b) all vested benefits accrued through the Resignation Date, if any, under the terms of any employee benefit plans applicable to Executive; (c) reimbursement for any and all reasonable business expenses incurred by the Executive prior to the Resignation Date pursuant to the terms of the Company’s expense reimbursement policy; and (d) Executive’s accrued but unused vacation time.
