Payments and Other Consideration. If Ashburn (a) executes this Agreement within 53 calendar days following the Termination Date and does not revoke it during the revocation period described in Section 10 hereof (the date on which such revocation period expires, the “Release Effective Date”) and (b) continues to comply with the terms and conditions of this Agreement, then the Company will make the following payments to Ashburn (the “Payments”):
(i) An amount in cash equal to $400,000, payable in substantially equal installments pursuant to the Company’s standard pay periods and practices, commencing on the Company’s first regularly scheduled payroll date following the Release Effective Date and ending on the first regularly scheduled payroll date following the first anniversary of the Termination Date;
(ii) A lump sum cash payment equal to $220,000, payable on the first payroll date following the sixtieth (60th) day following the Termination Date;
(iii) $7,921, in full satisfaction of any rights Ashburn has or has had to the grant of performance-based restricted stock units made to him on February 28, 2012, payable on the date on which the first payment in Section 2(i) is made; and
(iv) If Ashburn elects continuation coverage under the Company’s medical plan pursuant to Part 6 of Subtitle B of Title I of the Employee Retirement Income Security Act of 1974, as amended (“COBRA”), the Company will reimburse Ashburn for his COBRA payments until the earlier of (x) his eligibility for any such coverage under another employer’s or any other medical plan or (y) the date that is twelve (12) months following the Termination Date. The Company will make any such reimbursement within thirty (30) days following receipt of evidence from Ashburn of the payment of the COBRA premium, which evidence shall be provided by Ashburn within thirty (30) days of his payment of such COBRA premium; provided, however, that any amounts due during the 60-day period following the Termination Date shall not be paid during such 60-day period but instead shall be paid on the first regularly scheduled payroll date after such 60-day period. Ashburn agrees that the period of coverage under such plan shall count against such plan’s obligation to provide continuation coverage pursuant to COBRA.
Payments and Other Consideration. The Company agrees to make the payments and accommodations and other consideration as set forth below in Paragraphs 1a, 1b, 1c, 1e, and 1g expressly conditioned on: (i) Employee providing non-executive services to the Company as requested, including making himself reasonably available for any future assistance related to any Litigation as defined in Paragraph 18 (“Services”); (ii) Employee signing and delivering to the Company this Agreement within 21 calendar days of the date of the Agreement and not subsequently revoking the Agreement within the time period set forth in Paragraph 4; (iii) Employee signing and delivering to the Company a Supplemental Release and Waiver of Claims in the form attached as Exhibit 1 to this Agreement (“Supplemental Release”) and not subsequently revoking it within the time period set forth therein; and (iv) Employee signing and delivering to the Company the Long Term Incentives Vesting/Forfeiture Agreement (“LTI Vesting/Forfeiture Agreement”) in the form attached as Exhibit 2 to this Agreement. Employee understands that the Company will deduct from any payments specified herein federal withholding taxes and other deductions the Company is required by law to make from wages and other payments to employees. Employee further understands that the payments and benefits and the retirement treatment to long term incentives set forth in this Paragraph 1 are all the Employee is entitled to receive from the Company under this Agreement except for those amounts described in Paragraph 6 to which Employee may be entitled.
a. The Parties agree that Employee will continue his active employment in a non-executive and non-officer status at his normal base salary during the Transition Period, with Employee retiring effective March 1, 2020 (the “Retirement Date”), provided that Employee does not accept employment outside of Fluor, complies with all obligations under this Agreement, and complies with Fluor’s Code of Business Conduct & Ethics and other Company policies. During the Transition Period Employee shall provide Retirement and Release Agreement-Page 1 of 18 Services from home, as reasonably directed by Cxxxxx Xxxxxxxxx or his designee. Employee’s continued employment during the Transition Period shall be at a level that results in a “separation from service” under the Fluor 409A Executive Deferred Compensation Program and for purposes of Section 409A of the Internal Revenue Code (the “Code”). During the Transition Period Employee shall b...
Payments and Other Consideration. The Executive will be entitled to receive the accrued payments and benefits contemplated by Section 6.5 of the Letter Agreement in accordance with the terms of the Letter Agreement (the “Accrued Obligations”). In addition, subject to Executive’s compliance with the terms and conditions of the Letter Agreement, Executive is also entitled to receive:
(a) in full satisfaction of any bonus amount contemplated in Section 6.6(b) of the Letter Agreement, payment of an amount equal to $479,167.00, to be paid in a lump sum on the first payday that occurs after the Effective Date specified in the Release (as defined in Section 3 hereof); provided, that, the Company shall have the right to seek the repayment of any amount paid pursuant to this Section 2(a) if Executive fails to comply with the provisions of Sections 8 or 9 of the Letter Agreement;
(b) an aggregate cash amount equal to $1,150,000 in respect of severance pay, representing payment of 24 months of Executive’s current monthly base salary. Such aggregate amount will be divided into equal monthly portions and payable in accordance with the Company’s regular pay practices commencing on the first payday that occurs following the six-month anniversary of the Termination Date (the “Deferred Payment Date”), with such payments continuing for a period of 24 months from the Deferred Payment Date. If at any time Executive fails to comply with Sections 8 or 9 of the Letter Agreement, any remaining installments payable pursuant to this Section 2(b) shall cease;
(c) long term incentives of $90,000 for Fiscal Year 2013, plus $180,000 for Fiscal Year 2014 earned under Sections 4.4 and 4.5 of the Letter Agreement, which shall be paid in a lump sum on the first payday that occurs after the Effective Date of the Release; provided, that, the Company shall have the right to seek the repayment of any amount paid pursuant to this Section 2(c) if Executive fails to comply with the provisions of Sections 7 or 8 of this Separation Agreement;
(d) the vesting of 13,333 shares of Volt common stock for Fiscal Year 2013, and the vesting of 26,667 shares of Volt common stock for Fiscal Year 2014 earned under Sections 4.4 and 4.5 of the Letter Agreement, which shares shall become vested in full on the Effective Date of the Release, provided that the Release becomes effective and is not revoked;
(e) in respect of the medical benefits, and consistent with Section 6.6 of the Letter Agreement, the Company will provide Executive with such med...
Payments and Other Consideration. 13.1 As consideration for GENTA JAGO granting the option hereinbefore set forth KRYPTON undertakes to pay to GENTA JAGO an *, payable upon execution of this Agreement.
13.2 Provided that KRYPTON shall exercise the option granted hereunder, as consideration for the License granted by GENTA JAGO to KRYPTON under this Agreement and in consideration of certain major development steps achieved hereunder, KRYPTON undertakes to pay to GENTA JAGO a *
13.3 The * shall be payable *:
(a) KRYPTON's receipt of ------------------ * Confidential treatment requested. The redacted material has been separately filed with the Commission. GENTA JAGO's notice referred to in Section 7.1 above; and
(b) and
(c) for the Final Product; and
(d) for Final Product.
13.4 The Parties agree that * as set forth in Section 14.4 below.
13.5 Unless otherwise agreed by the Parties in writing, all payments under this Article 13. shall be made in United States Dollars and to such place or account as GENTA JAGO reasonably requests from time to time in writing.
Payments and Other Consideration. If Employee (i) executes and does not revoke this Agreement during the revocation period described in Section 22, and (ii) continues to comply with the terms and conditions of this Agreement, and Sections 3, 4, 5, 6 and 7 of the Severance Pay Agreement, then:
Payments and Other Consideration. 13.1 As consideration for GENTA JAGO's preliminary development efforts for the Prototype Formulation performed prior to the execution of this Agreement as referred to in Section 2.1 above, KRYPTON undertakes to pay to GENTA JAGO an initial *, payable upon execution of this Agreement.
13.2 As consideration for the License granted by GENTA JAGO to KRYPTON under this Agreement and in consideration of certain major development steps achieved hereunder, KRYPTON undertakes to pay to GENTA JAGO *:
(a) KRYPTON's receipt of GENTA JAGO's notice referred to in Section 7.1 above; and
(b) and
(c) for the Final Product; and
(d) for the Final Product. ----------------- * Confidential treatment requested. The redacted material has been separately filed with the Commission.
13.3 The Parties agree that an * as set forth in Section 14.4 below.
13.4 Unless otherwise agreed by the Parties in writing, all payments under this Article 13. shall be made in United States Dollars and to such place or account as GENTA JAGO reasonably requests from time to time in writing.
Payments and Other Consideration. If Employee (I) executes and does not revoke this Agreement during the revocation period described in Section 20, (II) continues to comply with the terms and conditions of this Agreement, and Sections 3, 4, 5, 6 and 7 of the Employment Agreement, and (III) within 30 days following the Separation Date, delivers to the Company a fully executed and effective copy of the Supplemental Release of All Claims attached hereto as Exhibit B, with all periods for revocation therein having expired, then:
Payments and Other Consideration. (a) Upon the execution of this Agreement PLAN NAME shall pay to BTE the sum of $X. PLAN NAME shall also pay the sum of $X on the anniversary of the License agreement for 2 years subsequent to the current year, provided the Agreement is still in effect as of the date a payment is due.
(b) On a quarterly basis PLAN NAME shall pay to BTE the sum of $X, based on BTE Operations delivered in each market and determined by the methodology outlined in Schedule II.
(c) The parties further acknowledge that PLAN NAME will become a member of the BTE Leadership Council and, in that capacity, will participate in the Council’s quarterly meetings and share its experience with the implementation of BTE programs with other BTE Participants.
(d) PLAN NAME shall not use the Licensed Property on behalf of organizations other than itself and its customers.
Payments and Other Consideration. (a) In consideration of Employee’s execution of this Agreement and for the releases granted herein, the Company shall pay and provide Employee the following amounts and items, which Employee acknowledges Employee is not otherwise entitled to receive:
Payments and Other Consideration. (a) The Company shall pay and provide the Executive the following amounts and items:
