Payment to the Executive Sample Clauses

Payment to the Executive. Any Gross-Up Payment, as determined pursuant to this Section 8, shall be paid by the Company to the Executive within five days of the receipt of the Accounting Firm’s determination; provided that, the Gross-Up Payment shall in all events be paid no later than the end of the Executive’s taxable year next following the Executive’s taxable year in which the Excise Tax (and any income or other related taxes or interest or penalties thereon) on a Payment are remitted to the Internal Revenue Service or any other applicable taxing authority or, in the case of amounts relating to a claim described in Section 8(e) that does not result in the remittance of any federal, state, local and foreign income, excise, social security and other taxes, the calendar year in which the claim is finally settled or otherwise resolved. Notwithstanding any other provision of this Section 8, the Company may, in its sole discretion, withhold and pay over to the Internal Revenue Service or any other applicable taxing authority, for the benefit of the Executive, all or any portion of any Gross-Up Payment, and the Executive hereby consents to such withholding.
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Payment to the Executive. In consideration of the terminations ------------------------ provided in paragraph (a) of Section 1 and the other obligations of the Executive set forth herein, and subject to the provisions of Section 8 (b) hereof, at the Effective Time, the Company shall pay to the Executive a cash amount equal to $____________(the "Cash Payment"),1 less applicable withholdings pursuant to Section 12 hereof. The Executive agrees that the payment of the Cash Amount shall be in full satisfaction of all obligations of the Company and the Bank to the Executive pursuant to the Company Employment Agreement and the Bank Employment Agreement, including without limitation Sections 5(b), (c), (d), (e), (f) and (g) of each such agreement.
Sample 1
Payment to the Executive. As consideration for the Executive’s covenants made in Section 2 hereof, the Executive shall be entitled to receive from the Company a lump sum payment equal to $100,000, which shall be paid on the Effective Date by wire transfer of immediately available funds to an account designated in writing by the Executive, subject to all applicable tax withholding requirements.
Sample 1
Payment to the Executive a. Subject to the terms of this Agreement, the Company agrees to pay to the Executive an aggregate amount of $4,877,593 ("the Principal Amount"), together with accrued interest. This amount shall be paid in three installments, with one-third of the Principal Amount, plus accrued interest, paid on the first business day following each of October 15, 2002, October 15, 2003 and October 15,
Sample 1
Payment to the Executive. In consideration of the termination provided in paragraph (a) of Section 1 and the other obligations of the Executive set forth herein, the United and the Company hereby agree to do the following:
Sample 1
Payment to the Executive. The Corporation shall increase the Executive's compensation by the amount of any premium paid by the Executive pursuant to Section 2.2.
Sample 1
Payment to the Executive. The Company shall pay the Executive a cash payment of $3,080,000, of which $2,080,000 will be paid to the Executive not later than ten (10) business days after his execution of the Waiver and Release attached as ATTACHMENT A, without revocation, and the remaining $1,000,000 shall be paid to the Executive, or in the event of his death to his estate, in ten (10) substantially equal annual installments, pursuant to the terms of the Company's 401(k) Restoration Plan.
Sample 1
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Payment to the Executive. In the event of a Change of Control of APP followed by Termination Without Good Cause of the Executive’s employment by APP, (i) the Executive shall be entitled to receive for a period of twelve months his base salary as in effect on the date of the Termination Without Good Cause together with the average of any bonus paid by APP to the Executive for services during each of the three 12-month periods prior to Termination Without Good Cause date, which average bonus shall be payable in 12 equal monthly increments.
Sample 1
Payment to the Executive. In consideration of the termination provided in paragraph (a) of Section 1 and the other obligations of the Executive set forth herein, the United and the Company hereby agree to do the following: (i) pay to the Executive at the Effective Time a cash amount equal to $1,072,500 (the “Cash Payment”), less applicable withholdings pursuant to Section 10 hereof, and (ii) provide the Executive with credit for three additional “Years of Service” as of the Effective Time for purposes of determining the Executive’s benefit under the Amended and Restated Salary Continuation Agreement between the Executive and the Bank, as amended (the “SCA”), which United hereby expressly assumes as an obligation of United from and after the Effective Time. The Executive agrees that the foregoing shall be in full satisfaction of all obligations of the Company and the Bank to the Executive pursuant to the Employment Agreement and in considerations of the covenants set forth in Section 4 of this Agreement.
Sample 1

Related to Payment to the Executive

  • Successor to the Executive This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal representatives, executors, administrators, heirs, distributees, devisees and legatees. In the event of the Executive’s death after his termination of employment but prior to the completion by the Company of all payments due him under this Agreement, the Company shall continue such payments to the Executive’s beneficiary designated in writing to the Company prior to his death (or to his estate, if the Executive fails to make such designation).

  • By the Executive The Executive may terminate the Employment at any time with a three-month prior written notice to the Company or by payment of three months’ salary in lieu of notice. In addition, the Executive may resign prior to the expiration of the Agreement if such resignation or an alternative arrangement with respect to the Employment is approved by the Board.

  • Compensation of the Executive 3 4. Termination.........................................................................

  • AGREEMENTS OF THE EXECUTIVE In consideration of the compensation and benefits to be paid or provided to the Executive by the Employer under this Agreement, the Executive covenants as follows:

  • By the Employee This Agreement and the obligations created hereunder may not be assigned by the Employee, but all rights of the Employee hereunder shall inure to the benefit of and be enforceable by his heirs, devisees, legatees, executors, administrators and personal representatives.

  • Death of the Executive In the event of the Executive’s death before all payments or benefits the Executive is entitled to receive under this Agreement have been provided, the unpaid amounts will be provided to the Executive’s designated beneficiary, if living, or otherwise to the Executive’s personal representative in a single lump sum as soon as possible following the Executive’s death.

  • Duties of the Executive (a) Subject to the ultimate control and discretion of the Boards, the Executive shall serve in the Position and perform all duties and services commensurate with the Position. Throughout the Term of this Agreement as the same may be extended from time to time, the Executive shall perform all duties reasonably assigned or delegated to the Executive under the By-laws of the Employers or from time to time by the Boards consistent with the Position. Except for travel normally incidental and reasonably necessary to the business of the Employers and the duties of the Executive under this Agreement, the duties of the Executive shall be performed from an office location not greater than 35 miles from Marietta, Pennsylvania. (b) The Executive shall devote substantially all of the Executive’s business time and attention to the performance of the Executive’s duties under this Agreement and, during the term of the Executive’s employment under this Agreement, the Executive shall not engage in any other business enterprise that requires any significant amount of the Executive’s personal time or attention, unless granted the prior permission of the respective Boards. The foregoing provision shall not prevent the Executive’s purchase, ownership or sale of any interest in, or the Executive’s engaging in, any business that does not compete with the business of the Employers or the Executive’s involvement in charitable or community activities, provided, that the time and attention that the Executive devotes to such business and charitable or community activities does not materially interfere with the performance of the Executive’s duties under this Agreement and that a material portion of the time the Executive devotes to charitable or community activities are devoted to charitable or community activities within the Employers’ market area and further provided that such conduct complies in all material respects with applicable policies of the Employers. (c) The Employers shall accrue earned but unused vacation in accordance with the Employers’ vacation policy.

  • Agreement Termination In the event Contractor is unable to fulfill its responsibilities under this Agreement for any reason whatsoever, including circumstances beyond its control, County may terminate this Agreement in whole or in part in the same manner as for breach hereof.

  • Termination by the Executive The Executive may terminate employment hereunder at any time for any reason, including but not limited to, Good Reason. For purposes of this Agreement, “Good Reason” shall mean that the Executive has completed all steps of the Good Reason Process (hereinafter defined) following the occurrence of any of the following events without the Executive’s consent (each, a “Good Reason Condition”):

  • Voluntary Termination by the Executive The Executive may voluntarily terminate his employment with the Company at any time prior to the expiration of the term of this Agreement. Such termination shall constitute a voluntary termination and, in such event, the Executive shall be limited to the same rights and benefits as applicable to the termination for Cause, as described in Section 10(c) above.

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