Payments to Employee Clause Samples

Payments to Employee. Employee acknowledges that on or before the Effective Date, the Company paid Employee all wages due and owing through the Separation Date. [The Company will pay to Employee a severance payment in the amount of $_________, less all authorized deductions and withholdings for applicable federal, state and local taxes. Such severance shall be paid on _________. No other amounts except those specified in this Section 3 will be paid to Employee.]

Payments to Employee. IN THE EVENT OF THE CESSATION OF EMPLOYEE'S EMPLOYMENT PRIOR TO THE EXPIRATION OF THE TERM OF THIS AGREEMENT, EMPLOYER SHALL PAY TO EMPLOYEE THE AMOUNTS SET FORTH IN THIS PARAGRAPH 9 BIWEEKLY THROUGHOUT THE BALANCE OF THE TERM OF THIS AGREEMENT; PROVIDED, HOWEVER, THAT EMPLOYER SHALL HAVE NO OBLIGATION TO PAY ANY AMOUNTS WHATSOEVER UNDER THE PROVISIONS OF THIS PARAGRAPH 9 IF EMPLOYEE: (a) IS TERMINATED BY JACK ▇. ▇▇▇▇▇ ▇▇ HIS CAPACITY AS CHAIRMAN AND CHIEF EXECUTIVE OFFICER AND/OR PRESIDENT OF EMPLOYER; (b) IS TERMINATED BY EMPLOYER'S BOARD OF DIRECTORS WITH THE CONCURRENCE OF JACK ▇. ▇▇▇▇▇ ▇▇ HIS CAPACITY AS CHAIRMAN AND CHIEF EXECUTIVE OFFICER AND/OR PRESIDENT OF EMPLOYER; (c) VOLUNTARILY TERMINATED HIS EMPLOYMENT DURING SUCH TIME AS JACK ▇. ▇▇▇▇▇ ▇▇▇ BE CHAIRMAN AND CHIEF EXECUTIVE OFFICER AND/OR PRESIDENT OF EMPLOYER; (d) IS TERMINATED FOR CAUSE, AS THAT TERM IS DEFINED IN PARAGRAPH 8.2 HEREOF; OR (e) IF UPON A CHANGE OF CONTROL, EMPLOYEE ACCEPTS A RENEWAL OF THE TERM OF THIS AGREEMENT AND THEREAFTER VOLUNTARILY

Payments to Employee. (a) In exchange for the release provided in Section 3 below, and provided that this Agreement is not revoked in accordance with Section 9(d) below, Employee shall receive the following consideration: (i) Severance Pay, in an amount equal to six (6) months of Employee’s current Base Salary. The Severance Pay shall be paid ratably over a six (6) month period following the Separation Date, in accordance with the Company’s then standard payroll practices and procedures and subject to applicable Federal and state tax withholdings, with the payments commencing with the Company’s first regularly scheduled payroll following the Effective Date, as defined in Section 9(e) below. (ii) Payment for any earned but unused vacation days for 2014, which amount shall be paid within thirty (30) days following the Separation Date. (b) The payment of the Severance Pay is expressly conditioned upon Employee observing all covenants contained in the Employment Agreement between the Company and Employee dated October 24, 2006, as amended, that survive termination of that Employment Agreement, including without limitation those set forth in Sections 4, 5, 6, 7, 8, 10, and 11 of the Employment Agreement, and Employee shall forfeit any payment due hereunder in the event of such breach. (c) The payment obligations set forth in Section 2(a) shall constitute the total payment obligations under this Agreement. Accordingly, Employee understands and warrants that no further amount is or shall be due or claimed to be due from the Company and/or any other person or entity released in Section 3 below with respect to any claim or claims released in Section 3 below, including, but not limited to, any and all claims for attorneys’ fees that Employee may have under any federal, state or local law, common law or in equity. (d) Apart from the payments described above, Employee shall receive all compensation otherwise payable to Employee for services rendered up to and including the Separation Date, including, without limitation, any salary compensation, as well as reimbursement for any business expenses incurred prior to Employee’s receipt of notice of termination, so long as such expenses comply with the Company’s policies regarding the reimbursement of business expenses.

Payments to Employee. The Company shall pay to Employee all wages due and owing through the Separation Date in accordance with the Company’s regular payroll practices, less all authorized deductions and withholdings for applicable federal, state and local taxes and health insurance premiums. Employee shall be reimbursed for any business expenses incurred by him on behalf of the Company through the Separation Date which have not been previously paid, provided such expenses are incurred and submitted in accordance with the Company’s expense reimbursement policies. Notwithstanding the foregoing, Employee will continue to provide transition services to the Company through September 12th 2014, during which time, Employee will be compensated through the Company’s regularly scheduled payroll by drawing down his accrued paid time off of 124 hours. 3.1 Within thirty (30) days following the Separation Date, the Company shall pay to Employee a lump sum cash severance payment equal to $300,000, subject to all applicable payroll deductions. In addition, if Employee timely elects continuation coverage under the Company’s group health plan pursuant to Code Section 4980B (“COBRA Coverage”) following the Separation, Employee will be entitled to such COBRA Coverage at active employee rates, as amended from time to time, for up to twelve (12) months following the Separation. All other benefits, including but not limited to health insurance, life insurance, disability insurance, etc., shall cease effective as of the Separation Date. 3.2 Employee hereby waives the right to receive any bonus payments in connection with Employee’s relationship with the Company (except to the extent any such bonuses have already been paid) and any other severance payments or other benefits to which Employee may have been eligible under the Employment Agreement except as set forth herein. 3.3 The Company and Employee acknowledge and agree that, except as expressly provided herein, the Employment Agreement is terminated effective as of the Separation Date and the parties shall have no further rights or obligations thereunder.

Payments to Employee. In partial consideration for the promises of EMPLOYEE set forth herein, RELIANT agrees to pay EMPLOYEE the following amounts on the terms described in this Section 4: a. FIVE HUNDRED SIXTY TWO THOUSAND FIVE HUNDRED DOLLARS AND NO CENTS ($562,500.00) to be paid as follows: (i) THREE HUNDRED THOUSAND DOLLARS AND NO CENTS ($300,000.00) within fourteen (14) days after EMPLOYEE executes this Agreement, (ii) ONE HUNDRED THOUSAND DOLLARS AND NO CENTS ($100,000.00) on the last business day of the first calendar quarter of Initials: 1 Initials: 2005, (iii) ONE HUNDRED THOUSAND DOLLARS AND NO CENTS ($100,000.00) on the last business day of the second calendar quarter of 2005 and (iv) a final installment of any remaining balance on the last business day of the third calendar quarter of 2005. b. TWO HUNDRED THOUSAND DOLLARS AND NO CENTS ($200,000.00) to be paid to EMPLOYEE at such time as bonuses for 2004 are paid to members of RELIANT’s senior management; provided that the payment described in this Section 2(b) shall be subject to the terms of that certain side letter dated November 3, 2004 from EMPLOYEE to RELIANT for the benefit of Diversified Capital, L.L.C. (“DC”) instructing RELIANT to pay over of 50% of the after-tax proceeds of any bonus payment made by RELIANT to EMPLOYEE directly to DC in respect of that certain Second Amended and Restated Secured Promissory Note dated November 3, 2004 made by EMPLOYEE in favor of DC (the “DC NOTE”). c. The payments made pursuant to this Section 4 shall be (i) reduced by statutorily required deductions and (ii) made in accordance with RELIANT’s normal payroll practices. d. RELIANT will make the above-stated payments to EMPLOYEE notwithstanding any set-off agreements which may have previously existed between RELIANT and EMPLOYEE and regardless of whether he obtains any employment or income from any other source after the Termination Date. e. The payments made pursuant to this Section 4 shall not be matched by RELIANT or otherwise considered compensation to EMPLOYEE for purposes of RELIANT’s 401(k) or other benefit plans. f. Other than as set forth herein, RELIANT is not obligated to pay EMPLOYEE any other compensation. g. RELIANT shall not be obligated to make any of the payments set forth herein if EMPLOYEE breaches this Agreement in any material way or revokes it pursuant to Section 28 herein. If EMPLOYEE breaches the provisions of Sections 6 or 7 of this Agreement or the sections of the Employment Agreement (as defined bel...

Payments to Employee. The Company shall pay the following to Employee:

Payments to Employee. Provided that Employee performs his CFO duties consistent with past practice and does not resign for any reason before April 30, 2012, and Employee delivers to the Company signed originals of both this Agreement and the Second Agreement (as and when each such Agreement is to be executed in accordance with their respective terms) and does not timely revoke either this Agreement or the Second Agreement, and subject to Employee’s compliance with Paragraphs 9G, 9H and 18 of the Employment Agreement and Paragraph 9 of this Agreement, the Company will pay and provide Employee, subject to the terms and conditions of the Agreements, and Employee will accept, as and on behalf of Releasor from the Company on behalf of each Releasee, the payments and benefits stated in Paragraphs 3(a) and 3(b) below (the “Transition Agreement Payments”), in consideration for Employee’s services under Paragraph 2 of this Agreement, his release of claims against the Company as set forth in the Agreements, and the other promises and obligations set forth in the Agreements.

Payments to Employee. The parties acknowledge and agree that the releases set forth in this Agreement constitute the release of claims referred to in Article 3.3 of the SailPoint Technologies Holdings, Inc. Severance Pay Plan and Summary Plan Description, effective as of November 6, 2018 (the “Severance Plan”). Pursuant to the terms of and in satisfaction of HoldCo’s obligations under the Severance Plan, and provided that Employee executes this Agreement on or within the twenty-one calendar days immediately following the Separation Date, does not revoke this Agreement, and at all times complies with the terms of this Agreement, Employer shall (a) pay Employee severance in the total aggregate amount of $150,000 in a lump sum (less all applicable taxes and other required or authorized deductions and withholdings) on the 60th day following the Separation Date and (b) to the extent Employee properly elects COBRA (as defined in the Severance Plan), provide to Employee the COBRA Continuation Benefit (as defined in the Severance Plan) for a period of six months following the Separation Date (collectively, the “Severance”).

Payments to Employee. Regardless of whether Employee executes this Agreement, the Company will pay Employee for all earned but unpaid compensation through the Separation Date, less all applicable taxes and withholdings, by no later than the next business day immediately following the Separation Date. In addition, and also regardless of whether Employee executes this Agreement, the Company will reimburse Employee for outstanding business expenses in accordance with applicable Company policies, provided that Employee’s request for reimbursement and supporting documentation are delivered to the Company within 10 days after the Separation Date. Except as expressly provided in this Agreement, in the applicable terms of the Company’s employee benefit plans, or as required by applicable law, Employee will receive no further compensation or benefits from the Company after the Separation Date.