Release; Payment Timing Sample Clauses

Release; Payment Timing. Any obligation of the Company to provide the severance payments or other benefits (including accelerated vesting of stock options and other equity awards) described in this Section 8 (for the avoidance of doubt, other than Accrued Compensation), is conditioned on Executive’s execution of a separation and release of claims agreement in the form provided by the Company (which will include, at a minimum, a release of all releasable claims, non-disparagement and cooperation obligations, a reaffirmation of Executive’s continuing obligations under the Restrictive Covenants Agreement, and an agreement not to compete with the Company for twelve (12) months following Executive’s separation from employment) (the “Release”), which Release must become irrevocable within sixty (60) days following the date of such termination of employment (or such shorter period as may be directed by the Company). The Release shall not require Executive to release (i) claims for indemnification in Executive’s capacity as an officer or director of the Company under the Company’s Certificate of Incorporation, Bylaws, insurance or other written agreements, if any, providing for director or officer indemnification, (ii) rights to receive insurance payments under any policy maintained by the Company, (iii) vested rights as an equity holder or option holder, (iv) rights to receive retirement and other benefits that are accrued and fully vested at the time of Executive’s termination, and (v) any other claims that cannot be released as a matter of law. Subject to the terms of Exhibit A, any payments to be made either in a lump sum or in the form of salary continuation pursuant to the terms of this Agreement shall be payable in accordance with the normal payroll practices of the Company, with such payment or, as may be applicable, the first such payment (which shall be retroactive to the day immediately following the date of Executive’s termination of employment) due and payable in the first regular payroll following the date the Release becomes effective. Notwithstanding the foregoing, if the date Executive’s employment terminates occurs in one taxable year and the date that is sixty (60) days following such termination date occurs in a second taxable year, to the extent required by Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), such payment or, as may be applicable, first payment shall not be made prior to the first regular payroll of the second taxable year. For ...
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Release; Payment Timing. If the Company delivers to the Executive an executed mutual general waiver and release of claims substantially in the form attached hereto as Exhibit B (the “Release”) within seven days following the date of the Executive’s termination of employment, then any obligation of the Company to make any payment pursuant to Section 3(b) or Section 3(c), other than payment of Accrued Compensation and Benefits, and in the case of payments under Section 3(c), other than payments to be made thereunder upon termination of employment due to the Executive’s death, will be conditioned upon the Executive first delivering to the Company a fully-executed Release within 30 days after the date of the Executive’s termination of employment, and such Release becoming irrevocable immediately following the end of the seven-day revocation period therein (the day on which the Release becomes irrevocable, the “Release Effective Date”). Subject to the foregoing, except as otherwise specified in this Agreement, all payments and benefits to be paid or provided pursuant to Sections 3(b), (c) or (d) on account of termination of the Executive’s employment (other than the Accrued Compensation and Benefits, which shall be paid or provided as specified in Section 3(a)) will be paid or provided on the 38th day following the date of termination of the Executive’s employment, with any Equity Acceleration (including, if applicable, acceleration of the Promotional LTI Award) occurring on the Release Effective Date (or, if an executed and required Release is not delivered by the Company to the Executive within seven days following the Executive’s termination of employment, on the 8th day following the Executive’s termination of employment); provided that any equity-based award required (or permitted) to be settled in cash will be based on the value of the applicable equity award on the date on which the Executive’s employment terminates.
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Related to Release; Payment Timing

  • Lease Payments No Borrower will, or will permit any Subsidiary to, directly or indirectly, incur or assume (whether pursuant to a Guarantee or otherwise) any liability for rental payments except in the Ordinary Course of Business.

  • Purchase Payment The Purchase Price shall be paid to the Company in cash, check or via wire transfer simultaneously with the Subscriber’s entry into this Agreement.

  • Payment Timing Any lump sum Salary or bonus payments under Sections 3(a)(i), 3(b)(i), and 3(b)(ii) will be provided on the first regularly scheduled payroll date of the Company following the date the Release becomes effective and irrevocable (the “Severance Start Date”), subject to any delay required by Section 5(d) below. Any taxable installments of any COBRA-related severance benefits that otherwise would have been made to the Executive on or before the Severance Start Date will be paid on the Severance Start Date, and any remaining installments thereafter will be provided as specified in the Agreement. Any restricted stock units, performance shares, performance units, and/or similar full value awards that accelerate vesting under Section 3(b)(iv) will be settled (x) on a date no later than ten (10) days following the date the Release becomes effective and irrevocable, or (y) if later, in the event of a Qualifying Pre-CIC Termination, on a date no later than the Change in Control.

  • PURCHASE PAYMENTS Initial Purchase Payment — This Contract will not be in force until we receive at our Service Center the initial Purchase Payment. The initial Purchase Payment is shown in the Contract Specifications. Additional Purchase Payments — You may make additional Purchase Payments at any time before the Annuity Date, while the Owner or Annuitant is living and this Contract is in force. The minimum additional Purchase Payment amounts are shown in the Contract Specifications. A single Purchase Payment or the aggregate of all Purchase Payments may not exceed the Maximum Purchase Payment Amount Without Home Office Approval as shown in the Contract Specifications. Purchase Payments are payable in U.S. dollars at our Service Center. Checks should be made payable to Pacific Life Insurance Company. If you make Purchase Payments by check other than a cashier’s check, withdrawal payments and any refund under the Right to Cancel provision may be delayed until your check has cleared. Purchase Payment Allocation — Prior to the Annuity Date, you may allocate all or part of your Purchase Payments to one or more of the Investment Options available under this Contract. The Investment Options available on the Contract Date are shown in the Contract Specifications. You may change the Purchase Payment allocation by providing us with instructions in a form satisfactory to us. We will allocate any Purchase Payment according to your most recent allocation instructions. We may reject any instruction or Purchase Payment if your instructions are not clear and we cannot determine your allocation instructions.

  • Delinquent Payment; Handling Charges All past due payments required of Tenant hereunder shall bear interest from the date due until paid at the lesser of eighteen percent per annum or the maximum lawful rate of interest (such lesser amount is referred to herein as the "Default Rate"); additionally, Landlord, in addition to all other rights and remedies available to it, may charge Tenant a fee equal to five percent of the delinquent payment to reimburse Landlord for its cost and inconvenience incurred as a consequence of Tenant's delinquency. In no event, however, shall the charges permitted under this Section 5 or elsewhere in this Lease, to the extent they are considered to be interest under applicable Law, exceed the maximum lawful rate of interest. Notwithstanding the foregoing, the late fee referenced above shall not be charged with respect to the first occurrence (but not any subsequent occurrence) during any 12-month period that Tenant fails to make payment when due, until five days after Landlord delivers written notice of such delinquency to Tenant.

  • Severance Payment Executive will be paid continuing payments of severance pay at a rate equal to Executive’s base salary rate, as then in effect, for twelve (12) months from the date of such termination of employment, to be paid periodically in accordance with the Company’s normal payroll policies.

  • Separation Payment Except with respect to the Accrued Benefits as defined in the Employment Agreement, if you sign this Agreement, agreeing to be bound by the General Release in Paragraph 3 below and the other terms and conditions of this Agreement described below, and comply with the requirements of this Paragraph 2 (other than the Accrued Benefits), you will receive the compensation and benefits as contemplated by the Employment Agreement. You will not be eligible for the payment and benefits described in this Paragraph 2 unless: (i) you sign this Agreement no later than twenty-one (21) days after you receive it, promptly return the Agreement to the Company after you sign it, and do not timely revoke it; and (ii) you have returned all Company property and documents in accordance with Paragraph 15 below.

  • Pre-Payment The Borrower may pre-pay all or any portion of the loan at any time.

  • Cash Severance Payment Provided that Executive complies with Section 5 below, Executive shall receive a lump sum cash payment in an amount equal to fifteen (15) months of Executive’s the effective base salary (less applicable withholding), paid within ten (10) business days of the effective date of the Termination Upon a Change of Control.

  • Incentive Payment During the period of Executive's employment under this Agreement, the Executive shall be eligible to participate in an incentive compensation program implemented by the Board (the "Annual Incentive Bonus").

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