Salary and Bonus Payments. On or before Employee's last day of employment with the Company, the Company shall promptly pay in a lump sum to Employee as compensation for services rendered to the Company a cash amount equal to twice the amount of Employee's annual base salary and twice the target bonus under the Executive Bonus Plan as in effect immediately prior to his date of termination. At the election of the Company, the cash amount referred to in this subparagraph 7.b.i may be paid to Employee in periodic installments in accordance with the normal salary payment procedures of the Company.
Salary and Bonus Payments. In connection with your separation of employment, you will be entitled to the following payments:
Salary and Bonus Payments. The Company shall pay in a lump sum to Xxxxxxx at the time of termination such amount of compensation due Xxxxxxx for services rendered to the Company, as well as compensation for unused vacation time and earned bonus, as has accrued but remains unpaid. Any and all other rights granted to Xxxxxxx under this Agreement shall terminate as of the date of termination.
Salary and Bonus Payments. On or before Xxxxxxx'x last day of employment with the Company, the Company shall pay in a lump sum to Xxxxxxx as compensation for services rendered to the Company a cash amount equal to any Salary which remains unpaid and any amount of the bonus under the Management Bonus Program to which he is entitled but which remains unpaid.
Salary and Bonus Payments. In the event Xxxxxxx’x employment with the Company is terminated within one year following the occurrence of a Change of Control (other than as a consequence of his death or disability, or of his normal retirement under the Company’s retirement plans and practices) either (i) by the Company for any reason whatsoever or (ii) by Xxxxxxx with Good Reason as provided in Paragraph 6, then Xxxxxxx shall be entitled to receive from the Company, the same amounts, rights and benefits described in paragraph 8b.
Salary and Bonus Payments. (A) On or before Employee's last day of employment with the Company, the Company shall pay to Employee, as compensation for services rendered to the Company, a cash amount equal to the sum of (x) one-half (1/2) of the amount of Employee's Base Salary and (y) ninety percent of one-half (1/2) of the amount of the estimated target bonus under the Management Bonus Program as in effect immediately prior to his date of termination (the "Cash Amount").
(B) The final calculation of Employee's target bonus shall be made, and any remaining bonus amount due to Employee paid, in the manner set forth in Section 7.a.i. At the election of the Company, the Cash Amount may be paid to Employee in periodic installments in accordance with the regular salary payment practices of the Company, with the first such installment to be paid on or before Employee's last day of employment with the Company. Notwithstanding the foregoing sentence, the entire Cash Amount shall be paid to Employee during the period not to exceed one year following Employee's last day of employment with the Company. No interest shall be paid with respect to any of the Cash Amount not paid on the Employee's date of termination.
(C) For purposes of paragraph 7.b.i., the "Cash Amount" shall mean: (1) if the date of termination is on or before October 1, 1997, the sum of Employee's annual base salary reduced by the amount of salary paid through the date of termination and a pro rated amount of the estimated target bonus under the Management Bonus Program; or (2) if the date of termination is after October 1, 1997, the product of one-half times the base salary in effect as of the effective date of the termination plus the Employee's then current estimated target bonus under the Management Bonus Program.
Salary and Bonus Payments. The Company shall pay to Employee, as compensation for services rendered to the Company, as follows: (A) if termination occurs prior to the first anniversary date of this Agreement, Employee will receive a total of twelve (12) months (26 bi-weekly payments) of the Employee's Annual Base Salary and the pro-rated portion of the Guaranteed Payment then in effect, subject to "mitigation" (as defined below); (B) if termination occurs after the first anniversary but prior to the second anniversary date, Employee will receive a total of nine (9) months (18.5 bi-weekly payments) of the Employee's Annual Base Salary and the pro-rated portion of the Guaranteed Payment then in effect, subject to "mitigation"; and (C) if termination occurs after the second anniversary of this Agreement, Employee will receive a total of six (6) months (13 bi-weekly payments) of the Employee's Annual Base Salary then in effect, subject to NO "mitigation". The payments to be made herein are referred to hereinafter as the "Cash Amount". The Cash Amount shall be paid to Employee in periodic installments in accordance with the regular salary payment practices of the Company, with the first such installment to be paid on or before Employee's last day of employment with the Company. As used herein, the term "mitigation" shall mean that the Cash Amount to be paid to Employee under this Paragraph 6.b.i. shall terminate on the date Employee obtains full-time employment with another company or business (or full-time self-employment) after termination of employment hereunder. Employee shall be obligated to notify the Company within 72 hours of Employee's commencement of full-time employment with another company or business (or full-time self-employment).
Salary and Bonus Payments. For the period commencing July 1, 2000 and ending on January 1, 2002 Executive shall be entitled to an aggregate amount of cash compensation equal to $3.5 million, payable as follows: (i) $1,350,000 shall be paid on regular payroll dates (at the rate of $900,000 per annum) for the period from July 1, 2000 through December 31, 2001; (ii) $450,000 shall be paid as a lump sum on January 2, 2002; and (iii) $1.7 million shall be credited to Executive's cash deferral account as a bonus payment as of the date in February 2001 on which bonus payments were made to Company executives. Such amounts shall be inclusive of all amounts to which he would otherwise be entitled for current or accrued vacation.
Salary and Bonus Payments. This Agreement shall terminate upon the death, Total Disability, as hereinafter defined, or termination of employment of the Executive For Cause, as defined in Section 5.4 hereof, or because Executive leaves his employment hereunder. In the event of Executive's death, the Corporation shall pay to any person designated in writing by Executive or if no such person is designated, to Executive's estate, as the case may be, Executive's Salary for a period of twelve (12) months after the end of the month in which death occurred, notwithstanding that such twelve (12) month period may continue beyond the term of this Agreement or that the Salary may be adjusted pursuant to Section 4 hereof during such twelve (12) month period. In the event of a Total Disability, Executive shall continue to receive his Salary for the remaining term of this Agreement. In the event the Corporation terminates Executive's employment For Cause or Executive leaves his employment hereunder, the Corporation shall pay to the Executive the aggregate amount of Salary up to the end of the month in which the termination of employment For Cause or Executive's termination occurs. In addition to the Salary, in the event of Executive's death, Total Disability, termination of employment For Cause or if the Executive leaves his employment hereunder, Executive, his designee or his estate shall be paid within thirty (30) days after the Determination Date, an amount equal to the product of (i) the Bonus for such year in which death, Total Disability or termination of employment For Cause occurred or when Executive leaves his employment and (ii) a fraction, the numerator of which are the number of months during the year of such death, Total Disability or termination of employment For Cause or Executive's termination during which Executive was employed by the Corporation through and including the month of his death, Total Disability or termination of employment For Cause or Executive's termination, and the denominator of which is twelve (12). This Agreement shall not terminate in the event the Corporation terminates Executive's employment and such termination is not
Salary and Bonus Payments. On or before Employee's last day of employment with the Company, the Company shall promptly pay in a lump sum to Employee as compensation for services rendered to the Company a cash amount equal to twice (three times such sum in the case of a termination occurring during the period (a "Change of Control Period") beginning on the occurrence of a Change in Control (as defined in Paragraph 8.f. below) and ending on the third anniversary of such Change in Control) the sum of the amount of Employee's annual base salary and the target bonus under the Executive Bonus Plan as in effect immediately prior to his date of termination. At the election of the Company, the cash amount referred to in this Paragraph 8.a. may be paid to Employee in periodic installments in accordance with the normal salary payment procedures of the Company, except that for a termination occurring during a Change of Control Period, the cash amount referred to in this Paragraph 8.a. shall be paid in a single lump sum on the date of termination.
