Payment Timing & Release Requirement Sample Clauses

Payment Timing & Release Requirement. Any obligation of the Company to make any payment or provide any benefit pursuant to Section 8(b) (other than the payment of Accrued Compensation and Benefits) is conditioned upon the Executive first executing and delivering to the Company a release in the form attached hereto as Exhibit A (the “Release”), within 45 days after the date of termination of employment, with all periods for revocation therein having expired.
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Payment Timing & Release Requirement. Any obligation of the Company to make any payment pursuant to Section 4(b), 4(c) or 4(d) (other than the payment of Accrued Compensation and Benefits) is conditioned upon the Executive first executing and delivering to the Company an effective release of claims in favor of the Company and each other member of the Company Group on a form acceptable to the Company, (the “Release”), within 59 days following the date of termination of employment, with all periods for revocation therein having expired. Subject to the Executive’s compliance with the preceding sentence, all amounts payable, or other benefits set forth in this Section 4 (other than the payment of Accrued Compensation and Benefits and any Pro-Rated Bonus) will be paid or provided on the 60th day following the date of termination of employment (or, if such 60th day is a weekend or holiday, the next business day) (the “Severance Payment Date”), subject to any delay that may be required by Section 14(b).
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Payment Timing & Release Requirement. Any obligation of the Company to make any payment pursuant to Section 7(b), 7(c) or 7(d) (other than the payment of Accrued Compensation and Benefits) is conditioned upon the Executive first executing and delivering to the Company an executed release, in the form attached hereto as Exhibit B (with such changes, if any, as the Company reasonably deems necessary or advisable to ensure compliance with law, provided that such revised release is delivered to the Executive not later than one day following the Executive’s termination of employment) (the “Release”) within 29 days after the date of termination of employment, with all periods for revocation therein having expired (such revocation period not to exceed seven days from the date the Executive executes the Release). Subject to the Executive’s compliance with the preceding sentence, all amounts payable, or other benefits set forth in this Section 7 (other than the payment of Accrued Compensation and Benefits and any prorated annual bonuses) will be paid or provided (or, in the case of payments over a period of time, will begin to be paid) on the 30th day following the date of termination of employment.
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Payment Timing & Release Requirement. Any obligation of the Company to make any payment pursuant to Section 7(b) (other than the payment of Accrued Compensation and Benefits) is conditioned upon the Executive first executing and delivering to the Company an effective release of all claims, in a form to be provided by the Company (the “Release”), within 59 days after the date of termination of employment, with all periods for revocation therein having expired. Subject to the Executive’s compliance with the preceding sentence, all amounts payable (other than the payment of Accrued Compensation and Benefits) otherwise due before the 60th day following the date of the Executive’s termination of employment will instead accumulate and will be paid (or commence being paid) on the 60th day following the date of termination of employment.
Sample 1
Payment Timing & Release Requirement. Continued payment of Base Salary amounts pursuant to Sections, 6.2, 6.3 or 6.5 will be made in equal installments during the salary continuance period set forth in Sections 6.2, 6.3 and 6.5 above, commencing on the date of the Executive’s termination of employment at such times as Base Salary is customarily paid to the Company’s employees, provided that no salary continuance installment will be paid prior to the first payroll date that is coincident with or next following the 60th day following Executive’s termination date and any installment that otherwise would have been paid during such 60 day period will instead be paid with the first installment paid to the Executive, and provided further that the Company’s obligation to make any such payments is conditioned upon the Executive first executing and delivering to the Company an effective release, substantially in the form attached hereto as Exhibit A (the “Release”), within 59 days after the date of termination of employment, with all periods for revocation therein having expired. Subject to the effectiveness of a timely Release as provided in this Section 6.6, any lump-sum cash payment to be made pursuant to Section 6.2 or 6.3 will be made on the first payroll date that occurs on or immediately following the 60th day following the Executive’s termination date, provided that any unpaid bonus amount (including, any Pro-Rata Bonus) will be paid when annual bonuses are paid to Company employees if later, but in no event will any such bonus payment be made later than the end of the calendar year in which Executive’s termination of employment occurs.
Sample 1
Payment Timing & Release Requirement. Continued payment of Base Salary amounts pursuant to Section 6.1, 6.2, 6.3 or 6.5 will be made in equal installments during the six (6) or (12) month period, as applicable, commencing on the date of the Executive’s termination of employment at such times as Base Salary is customarily paid to the Company’s employees, provided that no installment will be paid prior to the first payroll date that is coincident with or next following the 60th day following Executive’s termination date and any installment that otherwise would have been paid during such 60-day period will instead be paid with the first installment paid to the Executive, and provided further that the Company’s obligation to make any such payments is conditioned upon the Executive first executing and delivering to the Company an effective release, substantially in the form attached hereto as Exhibit A (the “Release”), within 59 days after the date of termination of employment, with all periods for revocation therein having expired. Subject to the effectiveness of a timely Release as provided in this Section 6.6, any unpaid bonus amount will be paid when annual bonuses are paid to Company employees if later, but in no event will any such bonus payment be made later than 75 days of the end of the applicable fiscal year.
Sample 1
Payment Timing & Release Requirement. Any obligation of the Company to make any payment pursuant to Section 7(b) or (c) (other than the payment of Accrued Compensation and Benefits) is conditioned upon the Executive (or his estate) first executing and delivering to the Company an effective release of claims, or other settlement agreement, in a form provided by the Company (the “Release”), within 59 days after the date of termination of employment, with all periods for revocation therein having expired. Subject to the Executive’s compliance with the preceding sentence, all amounts payable, or other benefits set forth in this Section 7 (other than the payment of Accrued Compensation and Benefits) will be paid or provided on the 60th day following the date of termination of employment.
Sample 1
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Related to Payment Timing & Release Requirement

  • Release Requirement Notwithstanding any provision herein to the contrary, except as otherwise determined by the Company, in order for the Grantee to receive Shares pursuant to the settlement of Vested RSUs under Section 6(a), (b), (c), (d) or (e) above, the Grantee (or the representative of his or her estate) must execute and deliver to the Company a general release and waiver of claims against the Company, its Subsidiaries and their directors, officers, employees, shareholders and other affiliates in a form that is satisfactory to the Company (the “Release”). The Release must become effective and irrevocable under applicable law no later than 60 days following the date of the Grantee’s death, termination of employment or transfer of position, as applicable.

  • Form and Timing of Severance Benefits The Severance Benefits described in Sections 3.3(a), 3.3(b), and 3.3

  • Timing of Severance Payments Any severance payment to which Employee is entitled under Sections 3(a)(i)(1), 3(a)(i)(2) and 3(a)(i)(5) shall be paid by the Company to the Employee (or to the Employee's successors in interest pursuant to Section 7(b)) in cash and in full, not later than thirty (30) calendar days following the Termination Date, subject to any delay required under Section 9.

  • Lump Sum Severance Payment Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the Release required by Paragraph 4(g) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.

  • Withholding Requirements In the event that any jurisdiction imposes any withholding or other tax on any payment made by Xxxxxxx Mac (or its agent, the Exchange Administrator, or any other person potentially required to withhold) with respect to a Note, Xxxxxxx Mac (or its agent, the Exchange Administrator, or such other person) will deduct the amount required to be withheld from such payment, and Xxxxxxx Mac (or its agent, the Exchange Administrator, or such other person) will not be required to pay additional interest or other amounts, or redeem or repay the Notes prior to the Maturity Date, as a result.

  • W-9 Requirement Alongside a signed copy of this Agreement, Grantee will provide Florida Housing with a properly completed Internal Revenue Service (“IRS”) Form W-9. The purpose of the W-9 form is to document the SS# or FEIN# per the IRS. Note: W-9s submitted for any other entity name other than the Grantee’s will not be accepted.

  • Payment Requirements ‌ A. Contract Amount: It is expressly agreed and understood that the total amount to be paid by County under this Contract shall not exceed the total County funding as set forth in Attachment B-Payment/Compensation to Subrecipient attached hereto and incorporated herein by reference. B. County will reclaim any unused balance of funds for reallocation to other County approved projects.

  • Minimum Balance Requirements To be a member and maintain Accounts with Us You must purchase 1 share in the Credit Union. The par value of a share in this Credit Union is $5.00. If the balance in Your primary share Account drops below 1 share ($5.00), at any time, We may, at Our option, close Your Account. Nonsufficient Funds Returns. Any share draft or pre-authorized transfer, or transaction made through the use of a debit card, or other electronic means, as is applicable (including any in-person transaction), that is presented to Us for payment on Your Account when Your Account lacks sufficient collected funds to pay any such item may, at Our option, be returned for nonsufficient funds or We may honor any such item and charge You a fee for doing so. Overdraft Balance Calculation. When processing transactions that debit or credit Your Account, We start each Business Day with Your final Account balance from the preceding Business Day. The final balance takes into account all of the debit and credit transactions that were settled that Business Day pursuant to Our Funds Availability Policy, as well as any other debits or credits to Your Account that were finally settled that day, as described above in the "Deposit of Items" and "Collection and Processing of Items" sections of the Account Agreement. This starting balance at the beginning of a Business Day (the preceding Business Day's final balance) is sometimes referred to as Your "actual balance."

  • Payments to Specified Employees Notwithstanding any other Section of this Agreement, if the Employee is a Specified Employee at the time of the Employee’s Separation from Service, payments or distribution of property to the Employee provided under this Agreement, to the extent considered amounts deferred under a non-qualified deferred compensation plan (as defined in Code Section 409A) shall be deferred until the six (6) month anniversary of such Separation from Service to the extent required in order to comply with Code Section 409A and Treasury Regulation 1.409A-3(i)(2).

  • Reduction of Severance Benefits If any payment or benefit that the Executive would receive from any Company Group member or any other party whether in connection with the provisions in this Agreement or otherwise (the “Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then the Payment will be equal to the Best Results Amount. The “Best Results Amount” will be either (x) the full amount of the Payment or (y) a lesser amount that would result in no portion of the Payment being subject to the Excise Tax, whichever of those amounts, taking into account the applicable federal, state and local employment taxes, income taxes and the Excise Tax, results in the Executive’s receipt, on an after-tax basis, of the greater amount. If a reduction in payments or benefits constituting parachute payments is necessary so that the Payment equals the Best Results Amount, reduction will occur in the following order: (A) reduction of cash payments in reverse chronological order (that is, the cash payment owed on the latest date following the occurrence of the event triggering the Excise Tax will be the first cash payment to be reduced); (B) cancellation of equity awards that were granted “contingent on a change in ownership or control” within the meaning of Section 280G of the Code in the reverse order of date of grant of the awards (that is, the most recently granted equity awards will be cancelled first); (C) reduction of the accelerated vesting of equity awards in the reverse order of date of grant of the awards (that is, the vesting of the most recently granted equity awards will be cancelled first); and (D) reduction of employee benefits in reverse chronological order (that is, the benefit owed on the latest date following the occurrence of the event triggering the Excise Tax will be the first benefit to be reduced). In no event will the Executive have any discretion with respect to the ordering of Payment reductions. The Executive will be solely responsible for the payment of all personal tax liability that is incurred as a result of the payments and benefits received under this Agreement, and the Executive will not be reimbursed, indemnified, or held harmless by any member of the Company Group for any of those payments of personal tax liability.

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