Payments by Employer. The Employer shall pay the Consultant’s invoices within sixty Thirty (30) days [or as specified in the SCCC] after the receipt by the Employer of such itemized invoices with supporting documents. Only such portion of an invoice that is not satisfactorily supported may be withheld from payment. Should any discrepancy be found to exist between actual payment and costs authorized to be incurred by the Consultant, the Employer may add or subtract the difference from any subsequent payments.
Payments by Employer. The Employer may make payment of benefits directly to Plan participants or their beneficiaries as they become due under the terms of the Plan. The Employer shall notify the Trustee of its decision to make payment of benefits directly prior to the time amounts are payable to participants or their beneficiaries. In addition, if the principal of the Trust, and any earnings thereon, are not sufficient to make payments of benefits in accordance with the terms of the Plan, the Employer shall make the balance of each such payment as it falls due. The Trustee shall notify the Employer where principal and earnings are not sufficient.
Payments by Employer. In exchange for the promises contained in paragraph seven below, HouseValues Inc. will provide Employee two month’s salary ($10,833.33), minus applicable withholdings. This will be paid to Employee after the Effective Date, as defined below. Employee will continue to receive the medical and dental benefits that he has been receiving as an employee of HouseValues Inc. at HouseValues Inc.’s expense through December 31, 2003. Thereafter, Employee will be eligible for continuation of his coverage under the terms and conditions of COBRA, at his own expense. HouseValues Inc. agrees that it will not protest any unemployment benefits allowed to Employee, if Employee applies for such benefits.
Payments by Employer. 1. The Employer will pay Employee a lump sum of $30,000; less all deductions required by law, (the "Severance Pay") in consideration for Employee's agreement to the terms of this Agreement. This payment shall be made at least eight (8) days after receiving the original of this agreement signed by Employee, without revocation.
2. The termination of employment occurred on October 28, 2014. All salary and accrued but unused vacation due Employee has been paid.
3. Employee shall be entitled to all benefits upon termination for which he is qualified in accordance with the various benefit pians in existence at the time of termination.
4. The Employee, in exchange for the payments provided for above, freely and voluntarily agrees to the Waiver and Release set forth below. The Employee further acknowledges that the payment provided under paragraph I above is not provided for under any Employer policy or practice and is consideration in addition to anything of value to which the Employee is already entitled.
Payments by Employer. 1. The Employer will pay the Employee the additional gross amount of $202,175.48, less all deductions required by law, as a severance payment (the “Severance Payment”). The Severance Payment shall be made on July 13, 2007. Employer shall furnish Employee with a copy of the calculation of the deductions made from such gross amount at the time of payment of the Severance Payment.
2. The Employee shall be entitled to all benefits upon termination for which he is qualified in accordance with the various benefit plans in existence at the time of termination, including but not limited to the right to have his 2007 tranche of restricted stock vest at its regularly scheduled time at the end of July, 2007, and his last tranche of stock options vest on the scheduled date of August 1, 2007, and the right to exercise and sell or retain those vested shares and exercised options between August 2 and August 15, 2007, in accordance with the Employer’s Xxxxxxx Xxxxxxx Policy and federal law. In addition, he will be entitled to have his COBRA premiums paid through December 31, 2007 following his termination of employment. Employee may inform Employer at the notice address listed herein, should he desire to terminate COBRA premium payments earlier than the end of the period described in this paragraph.
3. The Employee, in exchange for the Severance Payment provided under this Agreement, freely and voluntarily agrees to the Waiver and Release set forth below. Employee acknowledges that the Severance Payment is consideration in addition to anything of value to which the Employee is already entitled.
4. The Employee acknowledges that the Severance Payment provided under paragraph 1 above is being made under the Company’s Severance Policy and that this Agreement memorializes each party’s obligations under that Severance Policy. Employee further acknowledges that, to the extent that Employer is providing Employee with payments or benefits beyond those set forth in the Company’s Severance Policy, Employer, in providing such payments or benefits, docs not intend to establish any policy or practice thereby.
Payments by Employer. As provided in the Employment Agreement and in exchange for the promises contained herein, Employer will provide Employee with the following separation pay and benefits:
a) A gross lump sum severance payment of $1,082,780, less all applicable taxes and withholdings, representing 24 months base pay at the Employee’s current annual salary of $541,390; and
b) A gross lump sum severance payment of $74,445, less all applicable taxes and withholdings, representing an amount equal to the sum of twelve (12) months of the Employee’s average monthly bonus earnings, based on the monthly average calculated for the 24-month period immediately preceding the Termination Date; and
c) If the Employee elects continuation of health care coverage under the provisions of COBRA, monthly payments directly to the applicable insurer to cover Employee’s employer and employee portions of monthly premiums for three (3) months under COBRA, plus a lump sum payment of $44,287.35, which is equal to fifteen (15) months of the Employee’s employer and employee portions of monthly premium under COBRA at the rates in effect on the date hereof, currently $2,952.49 per month, less all applicable taxes and withholdings; and
d) Provided the Employee elects continuation of health care coverage under the provisions of COBRA, an additional lump sum payment, representing the monthly premiums that would be payable for six (6) months under COBRA at the rates in effect on the date hereof, equal to $17,715 USD, less all applicable taxes and withholdings, representing the sum that Employee must pay to receive comparable benefits to the benefits outlined in Section 6(b) of the Employment Agreement and reflecting that 18 months is the maximum COBRA eligibility period (Employee to remain responsible for the payment of premiums for COBRA or other applicable health benefits); and
e) Twenty-four (24) months of continuing coverage under Employee’s health insurance plans in effect in Canada on the date hereof;
f) Acceleration of vesting as set forth in Section 4 below; and
g) Reimbursement in a single, aggregated lump-sum payment, payable on Employer’s payroll as soon as reasonably practicable after June 30, 2018, and in no event later than December 31, 2018, for Employee’s reasonable costs, actually incurred and substantiated by receipts from Deloitte Touche Tohmatsu Limited and/or its affiliates, for preparation and filing of Employee’s 2017 tax returns in all applicable jurisdictions in the United States and C...
Payments by Employer. In exchange for the conditions contained in this Agreement, Tego will issue to Executive 100,000 restricted shares of Tego’s common stock. This will be issued to Executive within 15 business days after the Effective Date, as defined below.
Payments by Employer. In exchange for the promises contained in paragraph one above and six below, INTERLINQ will pay Employee one years severance. The severance will be paid bi-weekly following Termination Date. If Employee begins full-time employment at any time during the severance year, the remaining severance payments will be terminated. During the severance year, Employee will continue to receive medical benefits consistent with the company's plan. The severance payment will begin within seven days following the Employee Termination Date and will be subject to customary tax and other withholdings. This provision shall not apply to either consulting work performed by Employee (unless such consulting work is on a full time basis for the benefit of one employer) or if Employee starts his own business.
Payments by Employer. In exchange for the promises contained in paragraph seven below, HouseValues Inc. will provide Employee six months of base salary, minus applicable withholdings. This will be paid in pay period installments coinciding with HouseValues, Inc. standard payroll schedule. The first installment will be made on the first scheduled payroll after the Effective Date on which the Separation Agreement is executed, and, Should Employee elect COBRA by completing the enrollment forms and returning them timely to the healthcare carrier, HouseValues Inc. will pay the first six months of COBRA premiums on a monthly basis, directly to the healthcare carrier on Employee’s behalf. Thereafter, Employee will be eligible for continuation of his coverage under the terms and conditions of COBRA, at his own expense. Employee’s COBRA effective date is September 1, 2006. HouseValues Inc. will pay premiums from September 1, 2006 through February 28, 2007 after Employee executes this Se[aration Agreement and enrolls in COBRA by completing the application and returning it directly to the healthcare carrier within COBRA specified deadlines. HouseValues Inc. agrees that it will not protest any unemployment benefits allowed to Employee, if Employee applies for such benefits.
Payments by Employer. In exchange for the promises contained in this Agreement, and in lieu of the payments that might otherwise be payable pursuant to Paragraph 8 of Employee’s Employment Agreement, dated September 11, 2013, and effective September 30, 2013, as amended June 12, 2014 (the “Employment Agreement”), Employer will provide Employee with the following separation pay and benefits (collectively, “Severance Benefits”):
a) A total gross severance payment of Five Hundred and Fifty Thousand Dollars ($550,000.00), less all applicable taxes and withholdings, representing twelve (12) months base pay at Employee’s current annual salary of Five Hundred and Fifty Thousand Dollars Thousand Dollars ($550,000.00)(“Base Salary”), paid on a bi-monthly basis during the twelve (12) months following the Termination Date according to Employer’s current payroll practices with the last payment payable prior to December 31, 2015;
b) An additional gross lump sum severance payment of Four Hundred and Twelve Thousand, Five Hundred Dollars ($412,500), representing seventy five percent (75%) of the Employee’s Base Salary, less all applicable taxes and withholdings, paid on the later of (a) when other executive bonuses for Fiscal Year 2014 are paid, or (b) within seven (7) days after the Effective Date of this Agreement;
c) An additional monthly payment, less all applicable taxes and withholdings, for twelve (12) months following the Termination Date to provide funds for COBRA continuation health care coverage for Employee and his family, payable on a bi-monthly basis during the twelve (12) months following the Termination Date according to the Employer’s current payroll practices;
d) On the Effective Date (as defined below), acceleration of the vesting of the 10,000 options with an exercise price of $19.20 per share under the Tribune Publishing Company 2014 Omnibus Incentive Plan stock option agreement dated August 29, 2014, which options would vest on March 1, 2015 if Employee had remained employed with the Employer through March 1, 2015 (“Accelerated Options”), and extension of the exercise period of such Accelerated Options until the first anniversary of the Termination Date; and
e) On the Effective Date, acceleration of the vesting of the 3,750 restricted stock units under the Tribune Publishing Company 2014 Omnibus Incentive Plan restricted stock unit agreement dated August 29, 2014, which restricted stock units would vest on March 1, 2015 if Employee had remained employed with the Employer...
