PAYMENT CONTINUATION Sample Clauses

PAYMENT CONTINUATION. If the Consultant's engagement by the Company is terminated by the Company pursuant to clause (iii) or (iv) of Section 8(a) or by Consultant for Good Reason pursuant to clause (vi) of Section 8(a), the Company shall continue to pay to the Consultant Consultant's base payment (less any payments received by the Consultant from any disability income insurance policy provided to Consultant by the Company) and shall continue to provide health insurance benefits for the Consultant through the earlier of (a) the date that the Consultant has obtained other full-time engagement, or (b) three (3) months from the date of termination of engagement. If this Agreement is terminated pursuant to clauses (i), (ii) or (v) of Section 8(a), the Consultant's right to base payment and benefits shall immediately terminate, except as may otherwise be required by applicable law.

PAYMENT CONTINUATION. If the Employee's engagement by the Company is terminated by the Company pursuant to clause (iii) of Section 8(a) or by Employee for Good Reason pursuant to clause (v) of Section 8(a), the Company shall continue to pay to the Employee Employee's base payment (less any payments received by the Employee from any disability income insurance policy provided to Employee by the Company) and shall continue to provide health insurance benefits for the Employee through the earlier of (a) the date that the Employee has obtained other equivalent full-time engagement, or (b) the expiration of this agreement. Future option grants under this agreement will cease and the all options granted to date will immediately vest. If this Agreement is terminated pursuant to clauses (i), (ii) or (iv) of Section 8(a), the Employee's right to base payment and benefits shall immediately terminate, except as may otherwise be required by applicable law and all unvested options shall be cancelled.

PAYMENT CONTINUATION. If Topping’s engagement by the Company is terminated by the Company pursuant to clause (iii) of Section 8(a) or by Topping for Good Reason pursuant to clause (v) of Section 8(a), or by a change in control pursuant to clause (vi) of Section 8(a), the Company shall continue to pay to Topping Topping’s Base Salary (less any payments received by Topping from any disability income insurance policy provided to Topping) plus the pro-rata portion of the Earnings Bonus calculated through the date of termination through the earlier of (a) the date that Topping has obtained other professional engagement with at total compensation package (i.e. Salary plus benefits) equivalent to at least 80% of his total compensation under the terms of this agreement as of the date of termination., or (b) twelve (12) months from the date of termination of engagement. Any payment made pursuant to this section shall be payable over the 12 month period following termination pursuant to the normal semi-monthly pay cycle and not as a lump sum. If this Agreement is terminated pursuant to clauses (i), (ii) or (iv) of Section 8(a), Topping’s right to Base salary and benefits shall immediately terminate, except as may otherwise be required by applicable law.

PAYMENT CONTINUATION. Modine agrees that the obligation regarding these severance benefits is partial consideration for ▇▇. ▇▇▇▇▇▇▇▇▇▇’▇ agreement to stay with Modine and complete the Project. As such, Modine agrees that the severance benefits once earned by ▇▇. ▇▇▇▇▇▇▇▇▇▇ will continue to be paid even in the event of ▇▇. ▇▇▇▇▇▇▇▇▇▇’▇ death. 7.

PAYMENT CONTINUATION. If ▇▇▇▇▇’▇ engagement by the Company is terminated by the Company pursuant to clause (iii) of Section 8(a) or by ▇▇▇▇▇ for Good Reason pursuant to clause (v) of Section 8(a), or by a change in control pursuant to clause (vi) of Section 8(a), the Company shall continue to pay to ▇▇▇▇▇ his Base Salary (less any payments received by ▇▇▇▇▇ from any disability income insurance policy provided to ▇▇▇▇▇) plus the pro-rata portion of the Earnings Bonus calculated through the date of termination through the earlier of (a) the date that ▇▇▇▇▇ has obtained other professional engagement with a total compensation package (i.e. Salary plus benefits) equivalent to at least 80% of his total compensation under the terms of this agreement as of the date of termination, or (b) twelve (12) months from the date of termination of engagement. Any payment made pursuant to this section shall be payable over the 12 month period following termination pursuant to the normal semi-monthly pay cycle and not as a lump sum. Notwithstanding the foregoing, in the event that ▇▇▇▇▇ obtains employment pursuant to clause (a) of this Section (e), the Company will continue to pay ▇▇▇▇▇ the amount of any deficiency in total compensation from the new employment date through the end of the 12-month period following termination. If this Agreement is terminated pursuant to clauses (i), (ii) or (iv) of Section 8(a), ▇▇▇▇▇’▇ right to Base salary and benefits shall immediately terminate, except as may otherwise be required by applicable law.

PAYMENT CONTINUATION. If the Executive’s engagement with the Company is terminated by the Company pursuant to clause (iii) of Section 8(a) of this Agreement or by the Executive pursuant to clause (v) of Section 8(a) of this Agreement, then the Company shall continue to pay to the Executive’s Annual Salary payments and shall continue to provide medical benefits comparable to those the Executive participated in during his engagement with the Company for the Executive and his eligible dependents for a period of one year from the date of termination, plus (i) the EBITDA Bonus calculated on the Company’s EBITDA as of the month immediately prior to the date of termination and (ii) the Market Cap Bonus Shares calculated by dividing (x) 7% of the increase, if any, of the Market Capitalization as of the fiscal year end prior to the date of termination compared to the 20 trading days immediately preceding the date of termination by (y) the closing price for the trading day immediately preceding the date of termination. Such share shall be issued as of the date of termination. If the Executive’s engagement is terminated pursuant to clauses (i), (ii) or (iv) of Section 8(a) of this Agreement, the Executive’s right to Annual Salary payments and benefits shall immediately terminate, except as may otherwise be required by applicable law.

PAYMENT CONTINUATION. If the Executive’s engagement with the Company is terminated by the Company pursuant to clause (iii) of Section 8(a) of this Agreement or by the Executive pursuant to clause (v) of Section 8(a) of this Agreement, then the Company shall continue to pay to the Executive’s Annual Salary payments and shall continue to provide medical benefits comparable to those the Executive participated in during his engagement with the Company for the Executive and his eligible dependents for a period of one year from the date of such termination. If the Executive’s engagement is terminated pursuant to clauses (i), (ii) or (iv) of Section 8(a) of this Agreement, the Executive’s right to Annual Salary payments and benefits shall immediately terminate, except as may otherwise be required by applicable law.

PAYMENT CONTINUATION. If the Executive’s engagement with the Company is terminated by the Company pursuant to clause (iii) of Section 8(a) of this Agreement or by the Executive pursuant to clause (v) of Section 8(a) of this Agreement, then the Company shall continue to pay to the Executive’s Annual Salary payments and shall continue to provide medical benefits comparable to those the Executive participated in during his engagement with the Company for the Executive and his eligible dependents for a period of one year from the date of such termination. If the Executive’s engagement is terminated pursuant to clauses (i), (ii) or (iv) of Section 8(a) of this Agreement, the Executive’s right to Annual Salary payments and benefits shall immediately terminate, except as may otherwise be required by applicable law.