Payment and Benefits. In consideration of the promises made in this Release, Employer has agreed to pay Executive the benefits as provided in that certain employment agreement made and entered into as of _________________________, by and between the Parties (the “Employment Agreement”). Executive understands and acknowledges that the benefits described in this Section 2 constitute benefits in excess of those to which Executive would be entitled without entering into this Release. Executive acknowledges that such benefits are being provided by Employer as consideration for Executive entering into this Release, including the release of claims and waiver of rights provided in Section 3 of this Release.
Payment and Benefits. Upon the effectiveness of the terms set forth herein, the Company shall provide the Employee with all of the applicable payments and benefits set forth in the Employment Agreement between the Company and the Employee, dated as of , (as amended from time to time, the “Employment Agreement”).
Payment and Benefits. Upon the effectiveness of this Release as set forth in Paragraphs 12 and 13 hereof, Employer shall provide the Employee with the payments and benefits set forth in Paragraph [6.2, 6.3 or 6.4] of the Employment Agreement among the Employer and the Employee, dated as of , 2007 (as amended from time to time, the “Employment Agreement”).
Payment and Benefits. Upon the effectiveness of the terms set forth herein, the Company shall provide the Employee with certain payments and benefits set forth in Section 5(a)(ii) of the Employment Agreement between the Company and Employee dated , 20 (the “Employment Agreement”), upon the terms, and subject to the conditions, of the Employment Agreement.
Payment and Benefits. In consideration for the Executive’s obligations herein, the Company shall provide the following payments and benefits:
Payment and Benefits. (a) Commencing not later than thirty (30) days after the Triggering Event, and subject to Executive's compliance with Section 7 of this Agreement, the Company shall pay to Executive, in installments no less frequently than monthly, during the two year period following the Triggering Event (but not later than the last day of the Term of this Agreement), a monthly amount equal to one-twelfth (1/12) of Executive's total cash compensation received from the Company during the Company's fiscal year ended May 28, 2000 (including both base annual salary and bonus, if any). 2 The foregoing payments shall be reduced, to the extent necessary, so that the sum of payments made pursuant to this Section 4(a), when added to the total cash compensation to which the Executive is then entitled by virtue of other employment, will not excess, for any twelve (12) month period, the Executive's total cash compensation received from the Company during the Company's fiscal year ended May 28, 2000 (including both annual salary and bonus, if any).
(b) During the period that payments are due to Executive pursuant to Section 4(a), and subject to Executive's compliance with Section 7 of this Agreement, Executive shall be entitled to the health, life and disability insurance benefits which are no less, in the aggregate, than the amount of the benefits to which the Executive is entitled on the date of this Agreement. Notwithstanding the foregoing, if the Executive obtains other full-time employment, which employment provided equivalent health, life and disability insurance benefits, the benefits described in this Section 4(b) shall cease.
(c) The Company may withhold from any payments or benefits due under this Agreement all federal, state, city, or other taxes as shall be required pursuant to any law or governmental regulation or ruling. In no event shall the Company be obligated to make any payment or provide any benefits pursuant to Section 4(a) or 4(b) hereof after the last day of the Term of this Agreement.
Payment and Benefits. Upon the effectiveness of the terms set forth herein, the Company shall provide the Executive with the payments and benefits set forth in the applicable sections of the employment agreement by and between the Company and the Executive setting forth the terms of the Executive’s termination of employment with the Company, dated as of , (as amended from time to time, the “Agreement”) at the times and on the terms set forth in the Agreement.
Payment and Benefits a. Vacation pay is included in the above rates.
b. Observance of a non-instructional day shall not be considered an interruption in assignment. c In the event that the assignment of a teacher teaching on call is interrupted by the return of a teacher who subsequently is absent within two (2) working days, and if the teacher teaching on call is reassigned, the assignment shall proceed as if it has not been broken for salary or contract provisions which depend upon the length of assignment.
Payment and Benefits. The Company shall provide the Executive with the salary continuation payments specified in and subject to the provisions of Section 3.3(b) of the Employment Agreement dated as of [●], by and between the Company and the Executive (the “Employment Agreement”); provided, that such payment is subject to certain terms and conditions, including without limitation this Release becoming effective, as provided in the Employment Agreement.
Payment and Benefits. In consideration of the promises made in this Release, First Busey has agreed to pay Executive the compensation and benefits as provided in that certain employment agreement made and entered into as of , by and among the Parties (the “Employment Agreement”). Executive understands and acknowledges that the compensation and benefits provided under this Section 2 constitute an amount in excess of that to which Executive would be entitled without entering into this Release. Executive acknowledges that such compensation and benefits are being provided by First Busey as consideration for Executive entering into this Release, including the release of claims and waiver of rights provided in Section 3 of this Release.
