Payment of Retention Compensation Sample Clauses

Payment of Retention Compensation. The retention compensation bonus amounts provided in Paragraph 2 above shall be paid to the Employee by the Company on or within three business days after the dates indicated. If the Company fails to pay any such amount, the amount unpaid shall bear interest at a rate of ten percent per annum. No amount which has not then become due hereunder shall become payable hereunder following the earlier of the date of a Change in Control of the Company as described in Paragraph 1 above or the date of the Employee's termination of employment for any reason; provided that if the Employee's employment is involuntarily terminated by the Company without cause (as defined below), any remaining unpaid amounts hereunder shall be accelerated and shall become immediately due, and shall be paid at the time of the Employee's termination of employment without cause or within three business days thereafter. For this purpose, termination without cause means termination of the Employee's employment for other than the Employee's (i) death, (ii) total and permanent disability, (iii) intentional and continued gross malfeasance or nonfeasance of a material nature, (iv) refusal to or failure to attempt to follow the written legal directions of the Board of Directors or a more senior executive to which the Employee directly reports which are consistent with the Employee's responsibilities relating to the Company's businesses, or (v) conviction of a felony.
Sample 1Sample 2
AutoNDA by SimpleDocs
Payment of Retention Compensation. The retention compensation bonus amounts provided in Paragraph 2 above shall be paid to the Employee by the Company on or within three business days after the dates indicated. If the Company fails to pay any such amount, the amount unpaid shall bear interest at a rate of ten percent per annum. No amount which has not then become due hereunder shall become payable hereunder following the earlier of the date of a Change in Control of the Company as described in Paragraph 1 above or the date of the Employee's termination of employment for any reason; provided that if the Employee's employment is involuntarily terminated by the Company without cause (as defined below), any remaining unpaid amounts hereunder shall be accelerated and shall become immediately due, and shall be paid at the time of the Employee's termination of employment without cause or within three business days thereafter. Notwithstanding a Change of Control or termination of employment as provided in the foregoing sentence, the Employee shall always be entitled to amounts held in the Employee's account under the Company's terminated 1995 Executive Deferral Plan. For this purpose, termination without cause means termination of the Employee's employment for other than the Employee's (i) death, (ii) total and permanent disability, (iii) intentional and continued gross malfeasance or nonfeasance of a material nature, (iv) refusal to or failure to attempt to follow the written legal directions of the Board of Directors or a more senior executive to which the Employee directly reports which are consistent with the Employee's responsibilities relating to the Company's businesses, or (v) conviction of a felony.
Sample 1
Payment of Retention Compensation. Upon the signing of this Agreement and provided that Employee remains continuously employed by the Company on a full-time basis through the end of the Retention Period, Employee shall be eligible for compensation as follows:
Sample 1

Related to Payment of Retention Compensation

  • Payment of Compensation Subject to the provisions of this paragraph, payment of the Subadviser's compensation for the preceding month shall be made within 15 days after the end of the preceding month.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

  • Compensation Benefits Etc During the Employment Period, the Manager shall be compensated as follows:

  • Payment of Bonus Within fifteen (15) days of such termination, the Company shall pay to the Executive his Target Bonus pursuant to Section 3(b), prorated for the number of days of employment completed by the Executive during the year in which his employment terminated.

  • Compensation Benefits In consideration of Executive's services hereunder, the Company shall provide Executive the following:

  • Final Compensation In the event of termination of the Executive’s employment with the Company, howsoever occurring, the Company shall pay the Executive (i) the Base Salary for the final payroll period of his employment, through the date his employment terminates; (ii) compensation at the rate of the Base Salary for any vacation time earned but not used as of the date his employment terminates; and (iii) reimbursement, in accordance with Section 2(e) hereof, for business expenses incurred by the Executive but not yet paid to the Executive as of the date his employment terminates, provided that the Executive submits all expenses and supporting documentation required within sixty (60) days of the date his employment terminates, and provided further that such expenses are reimbursable under Company policies then in effect (all of the foregoing, “Final Compensation”). Except as otherwise provided in Section 5(a)(iii), Final Compensation will be paid to the Executive within thirty (30) days following the date of termination or such shorter period required by law.

  • Compensation Benefits and Reimbursement (a) The compensation specified under this Agreement shall constitute the salary and benefits paid for the duties described in Section 2(b). The Association shall pay Executive as compensation a salary of not less than $_____________ per year ("Base Salary"). Such Base Salary shall be payable biweekly, or with such other frequency as officers and employees are generally paid. During the period of this Agreement, Executive's Base Salary shall be reviewed at least annually. Such review may be conducted by a Committee designated by the Board, and the Board may increase, but not decrease (except a decrease that is generally applicable to all employees), Executive's Base Salary (any increase in Base Salary shall become the "Base Salary" for purposes of this Agreement). In addition to the Base Salary provided in this Section 3(a), the Association shall provide Executive at no cost to Executive with all such other benefits as are provided uniformly to permanent full-time employees of the Association. Base Salary shall include any amounts of compensation deferred by Executive under qualified and nonqualified plans maintained by the Association.

  • Payment of Bonuses The Bonus payable to an Executive for any Fiscal Year shall be paid in accordance with the following provisions:

  • Cash and Incentive Compensation For clarification, it is understood by all parties that other than as specified herein, the Company is not obligated to award any future grants of stock options or other form of equity compensation to Executive during Executive's employment with the Company.

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