Employee Compensation The wages, salaries and other compensation paid to employees who will be employed for the benefit of the Project, and to others who perform special services for the benefit of the Project, to the extent not otherwise paid through a Cash Management System, shall be paid by Owner from a Project Account pursuant to this Section 9.2.
(a) All wages, salaries and other compensation paid to employees of the Project, including, but not be limited to, unemployment insurance, social security, worker's compensation, employee benefit packages and other charges imposed by a governmental authority or provided for in a union agreement, shall (a) as to employees of Manager or any Subcontractor, be reimbursed by Owner to Manager (or directly to the applicable Subcontractor, if requested by Manager) without profit or mark-up, and (b) as to employees of Owner, be paid directly by Owner. Xxnager shall coordinate all disbursements and deposits for all compensation and other amounts payable with respect to persons employed in connection with the operation of the Project from an appropriate Project Account. Manager shall maintain complete payroll records for all employees.
(b) In addition to the employment of employees set forth on Schedule 3, Manager may, in its discretion, from time to time employ personnel of its general operations to perform direct special services for the benefit of the Project; provided, however, that Manager shall obtain the prior approval of Owner for the employment of such special personnel, except in emergency situations or when timing requirements do not allow for such prior approval. Owner shall reimburse Manager for such direct services rendered by special personnel in an amount commensurate with normal and customary charges for such services by similarly qualified persons. Persons whose compensation may not be charged to Owner for services rendered to the Project includes the general asset management personnel of Manager who are not on-site of the Project.
Benefits; Vacation Employee shall be eligible to receive all benefits as are available to similarly situated employees of Employer generally, and any other benefits that Employer may, in its sole discretion, elect to grant to Employee from time to time. In addition, Employee shall be entitled to four (4) weeks paid vacation per year, which shall be pro-rated for the first partial year of employment and shall accrue in accordance with Employer’s policies applicable to similarly situated employees of Employer.
Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:
Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.
Period of Employment The “Period of Employment” shall be a period of three (3) years commencing on the Employment Commencement Date and ending at the close of business on the third (3rd) anniversary of the Employment Commencement Date (the “Termination Date”); provided, however, that this Agreement shall be automatically renewed, and the Period of Employment shall be automatically extended for one (1) additional year on the Termination Date and each anniversary of the Termination Date thereafter, unless either party gives notice, in writing, at least thirty (30) days prior to the expiration of this Agreement and the Period of Employment (including any renewal thereof) of such party’s desire to terminate the Agreement or modify its terms. The term “Period of Employment” shall include any extension thereof pursuant to the preceding sentence. Provision of notice that the Period of Employment shall not be extended or further extended, as the case may be, shall not constitute a breach of this Agreement and shall not constitute “Constructive Termination” for purposes of this Agreement. Notwithstanding the foregoing, the Period of Employment is subject to earlier termination as provided below in this Agreement.
Long-Term Incentive Compensation Subject to the Executive’s continued employment hereunder, the Executive shall be eligible to participate in any equity incentive plan for executives of the Firm as may be in effect from time to time, in accordance with the terms of any such plan.
Severance Allowance A laid-off employee shall be entitled to severance allowance pursuant to Article 55.
Separation Allowance If a regular full-time or regular part-time employee resigns within thirty (30) days of receiving notice of layoff, the employee shall be entitled to a separation allowance of two (2) weeks for each year of continuous service to a maximum of (26) weeks pay, and, on production of receipts from an approved educational program, within twelve (12)months of resignation, may be reimbursed for tuition fees up to a of three thousand dollars ($3,000). The displacement procedure prescribed by Article shall not operate to permit more than two displacements and the third person so displaced shall only have the right to displace another employee who has lesser bargaining unit and who is the least senior employee in all lower or identical paying classifications in the bargaining unit. This will also apply to bumping into part-time which will mean another two (2) bumps provided that the full-time employee has more seniority. The Hospital shall give each employee the bargaining unit who has actually been laid off following the completion of the bumping process, and who is to be laid off for a period of more than thirteen (13)weeks, three (3)months notice in writing of the employee’s xxx-xxxxx at the discretion of the Hospital, pay in lieu of notice. In other cases of lay-off, that exceeds two weeks, the shall give an employee in the bargaining unit acquired one weeks notice, provided however, such notice shall not be required if the lay-off occurs because of emergencies. For example: power failure, act of God, equipment breakdown, or any other conditions beyond the reasonable control of the Hospital. Article as long as there is not a laid off senior employee who is eligible for an employee who is laid off, or an employee who has displaced an employee in another position as a result of the layoff, or an employee to work in a different position than the one the employee held prior to the layoff, be entitled to to the position the employee held prior to the layoff should it become vacant within twenty-four (24) months of the layoff, provided the employee remains qualified and able to the duties of the position. Employees who have been laid off (i.e. are no longer in the Hospital) for up to (24) calendar months shall be recalled to or lower-rated classifications in the order of their seniority, provided they have the qualifications and ability to perform the available work and this not require posting. The hospital shall notify the employee of recall by registered mail, addressed to the last address on record with the hospital. The notification shall state the job to which the employee is eligible to be and the date and time at which the employee is to report for work. An employee given notice of recall by registered have three (3) days after receipt of such notice to the employee's intention, in to return to work on the date specified by the Employer or another date as mutually agreed. Any employee who does not so shall be deemed to have ceased with the Employer. The Employer be entitled to rely, for ail purposes, on the latest address of the employee contained in the records of the Employer. No new employee shall be hired in a in which a layoff has taken place employees laid off from that classification or displaced out of the classification who have been laid off or displaced for up to twenty-four (24) calendar months and are eligible for recall as prescribed in this article have been given the opportunity to to work in the classification from which the employees were laid off or displaced.
Salary Benefits and Bonus Compensation 3.1 BASE SALARY. Effective July 1, 2000, as payment for the services to be rendered by the Employee as provided in Section 1 and subject to the terms and conditions of Section 2, the Employer agrees to pay to the Employee a "Base Salary" at the rate of $180,000 per annum, payable in equal bi-weekly installments. The Base Salary for each calendar year (or proration thereof) beginning January 1, 2001 shall be determined by the Board of Directors of Avocent Corporation upon a recommendation of the Compensation Committee of Avocent Corporation (the "Compensation Committee"), which shall authorize an increase in the Employee's Base Salary in an amount which, at a minimum, shall be equal to the cumulative cost-of-living increment on the Base Salary as reported in the "Consumer Price Index, Huntsville, Alabama, All Items," published by the U.S. Department of Labor (using July 1, 2000, as the base date for computation prorated for any partial year). The Employee's Base Salary shall be reviewed annually by the Board of Directors and the Compensation Committee of Avocent Corporation.
During Employment During Employee’s employment hereunder, Employee shall not engage, directly or indirectly, as an employee, officer, director, partner, manager, consultant, agent, owner (other than a minority shareholder or other equity interest of not more than 1% of a company whose equity interests are publicly traded on a nationally recognized stock exchange or over-the-counter) or in any other capacity, in any competition with the Company or any of its subsidiaries.
