Payment to Employee Clause Samples
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Payment to Employee. In consideration of Employee's agreeing to the provisions contained in Sections I, II and III hereof, Employer shall, on the date of the closing under the Purchase Agreement, deliver to Employee 2,000,000 shares of Employer's common stock. Employee agrees that, for the one-year period immediately following the date hereof, he shall not sell or otherwise transfer any of the shares to be delivered to him hereunder, without the prior written consent of Employer. In further consideration of Employee's agreeing to the foregoing restriction on transfer, Employer agrees that it shall not implement a reverse split of its outstanding common stock at any time during the 18-month period immediately following the date hereof.
Payment to Employee. The Company agrees to pay Employee the sum of $________ (the "Payment") as severance pay, less all applicable withholdings for state, federal and FICA taxes. The Payment shall be paid in one lump sum as soon as practicable [following the expiration of the seven-day revocation period set forth in paragraph G below] OR [six (6) months following the Termination Date].
Payment to Employee. Pursuant to the Employment Agreement entered into between the parties and subject to certain conditions precedent set forth therein, Company agrees to provide a Severance Amount to Employee as set forth in paragraph 11(a)(i) of the Employment Agreement; provided, however, that Employee must execute and not revoke this Agreement.
Payment to Employee. In consideration of the execution and delivery of this Agreement by Employee, and of the releases and covenant not to sue provided for hereunder, sev▇▇ (7) days after execution by Employee of this Agreement (provided that he has not revoked this Agreement pursuant to the provisions of Section 5 hereof), Employee shall be entitled to receive an amount equal to one year's base salary at Employee's current rate of pay (the "Severance Payment"), less all amounts required by law to be withheld.
Payment to Employee. 工資：月支新台幣 ____每月定期發給一次於每月月底一次發給，並依中華民國有關法令規定由甲方代為扣繳薪資所得稅。 Wages for a full month of working shall be New Taiwan Dollars only, to be paid regularly at the end of each month. Income tax shall be withheld by the employer in accordance with Taiwan taxation laws. 薪資可依乙方同意直接給付乙方銀行帳號。 Salary can be released directly to the Caretaker or, upon the option of the Caretaker, remitted to the bank in the Caretaker’s own account.
Payment to Employee. Company shall pay Employee Two Hundred Forty-Seven Thousand Five Hundred and 00/100 Dollars ($247,500.00), less applicable withholding, in a lump sum within ten (10) business days after Company’s receipt of this fully-executed Discharge and Termination Agreement.
Payment to Employee. 4.1 Conditioned upon the full execution of this Agreement, and the lapse of the seven (7) day period described in Section 12 below, the Company shall pay Employee on or before January 25, 2000 the total sum of Four Hundred Sixty-Eight Thousand Two Hundred Sixty-Five and 07/100 Dollars ($468,265.07), less applicable withholding taxes and other governmental obligations. This amount represents severance in the amount of $68,265.07, less applicable withholding taxes and other governmental obligations, and a bonus in the amount of $400,000.00, less applicable withholding taxes and other governmental obligations, for his services in connection with the sale of ICG Satellite Services, Inc.
4.2 The Company will permit Employee to continue participation in the Company's Medical/Dental/Vision benefit plans at Employee's present level through and including January 31, 2000, at which time all such benefits shall be terminated. At that time, Employee may be eligible to continue appropriate coverage pursuant to COBRA, subject to COBRA rules and provisions. Conditioned upon the full execution of this Agreement, and the lapse of the seven (7) day period described in Section 12 below, the Company shall pay Employee the net sum of Three Thousand One Hundred Seventy-Five Dollars and 92/100 Dollars ($3,175.92) on or before January 25, 2000, which represents the approximate equivalent of 12 months' payments for coverage under COBRA. It is Employee's responsibility to pay these amounts and to obtain the appropriate coverage if the Employee so desires.
4.3 No additional time for vacation or sick leave or personal time shall accrue after Termination Date. Employee's participation in the 401(k) and, if applicable, 401(k) Wrap, and Employee Stock Purchase Plan shall cease as of the Termination Date. Employee's participation in the Company benefit programs for Basic Life Insurance, Accidental Death and Dismemberment Insurance ("AD&D"), Dependent Life Insurance, Short Term Disability benefits, Long Term Disability Insurance, and any participation in the Flexible Spending Cafeteria Plan, Voluntary Life Insurance, Voluntary AD&D, Pre-Paid Legal Insurance and Employee Assistance Program, and all other Company programs and benefits will terminate as of the Termination Date, subject to continuation rights, if any, required by law. Notwithstanding the foregoing, the Company will, if Employee requests it to do so in writing, transfer to Employee the life insurance policy it has taken out on...
Payment to Employee. The Company shall pay Employee __________ by check.
Payment to Employee. For settlement purposes only and provided this Agreement is final and irrevocable under paragraph 9 hereof, Employer agrees to pay Employee:
(a) as severance an amount equal to two years’ of Employee’s base annual salary in effect as of June 30, 2006, less usual payroll deductions, payable in normal payroll intervals;
(b) Employee will be paid .25% of the revenue received by the Company for each gaming device purchased by a certain state lottery under an amendment effective April 6, 2006 to the agreement between the Company and such lottery; and
(c) Employee’s annual bonus for the year ended June 30, 2006, in an amount determined by the Compensation Committee and Board of Directors based upon the recommendation of management, payable when annual bonuses are paid to employees generally; provided that all terms of the Employment Agreement which are intended to survive termination of employment that are to be satisfied by Employee are met. Employee acknowledges that the amounts described in paragraph 2 hereof satisfy the terms of the Employment Agreement. Payments will be sent to Employee by U.S. Mail to his home address commencing with the first pay period after this Agreement is final and irrevocable under paragraph 9 hereof. Employee further acknowledges that he has received separately all compensation and other sums to which he is entitled, other than (i) regular base salary minus regular deductions for the period from the date of this Agreement through the Termination Date, (ii) certain open expense reports previously submitted by Employee, and (iii) paid time-off accrued through the Termination Date, payment of which will be sent to Employee’s home unless otherwise agreed. Employee will not accrue any paid time-off, credited service under any benefit plan or other benefits during the period of payments hereunder.
Payment to Employee. The Company agrees to pay Employee the sum of $ (the “Payment”) as severance pay, less all applicable withholdings for state, federal and FICA taxes. The Payment shall be paid in [insert number of installments] equal installments of $ on each regular payroll date of the Company. Such installments shall commence on the first payroll date that follows the expiration of the seven-day revocation period set forth in Section F below.