Common use of Salary Continuance Clause in Contracts

Salary Continuance. If Officer experiences an ------------------ Involuntary Termination during the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary (subject to any applicable tax withholding) as of the time of termination for twelve (12) months following such termination (the "Original Term Severance Period"). If Officer ------------------------------ experiences an Involuntary Termination during any period of the Agreement following the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary as of the time of termination for six (6) months following such termination (the "Subsequent Term Severance Period" and -------------------------------- together with the Original Term Severance Period, the "Applicable Severance -------------------- Period"). Such payments will be made during the Applicable Severance Period on ------ normal Company payroll paydays.

Appears in 2 contracts

Samples: Employment Agreement (Vertel Corp), Employment Agreement (Vertel Corp)

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Salary Continuance. If Officer experiences an Involuntary ------------------ Involuntary Termination during the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary (subject to any applicable tax withholding) as of the time of termination for twelve (12) months following such termination (the "Original -------- Term Severance Period"). If Officer ------------------------------ experiences an Involuntary Termination --------------------- during any period of the Agreement following the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary as of the time of termination for six nine (69) months following such termination (the "Subsequent Term Severance Period" and -------------------------------- together with the Original Term Severance -------------------------------- Period, the "Applicable Severance -------------------- Period"). Such payments will be made during in one --------------------------- lump sum payment within two weeks of the Applicable Severance Period on ------ normal Company payroll paydaysdate of termination of Officer's employment.

Appears in 1 contract

Samples: Employment Agreement (Vertel Corp)

Salary Continuance. If Officer experiences an ------------------ Involuntary Termination during the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary (subject to any applicable tax withholding) as of the time of termination for twelve (12) months following such termination (the "Original Term Severance Period"). If Officer ------------------------------ experiences an Involuntary Termination during any period of the Agreement following the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary as of the time of termination for six (6) months following such termination (the "Subsequent Term Severance Period" and -------------------------------- together with the Original Term Severance Period, the "Applicable Severance -------------------- Period"). Such payments will be made during in one lump sum payment within two weeks of ------- the Applicable Severance Period on ------ normal Company payroll paydaysdate of termination of Officer's employment.

Appears in 1 contract

Samples: Employment Agreement (Vertel Corp)

Salary Continuance. If Officer experiences an ------------------ Involuntary Termination during the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary (subject to any applicable tax withholding) as of the time of termination for twelve (12) months following such termination (the "Original Term Severance ----------------------- Period"). If Officer ------------------------------ experiences an Involuntary Termination during any period ------- of the Agreement following the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary as of the time of termination for six (6) months following such termination (the "Subsequent Term --------------- Severance Period" and -------------------------------- together with the Original Term Severance Period, the ---------------- "Applicable Severance -------------------- Period"). Such payments will be made during in one lump sum --------------------------- payment within two weeks of the Applicable Severance Period on ------ normal Company payroll paydaysdate of termination of Officer's employment.

Appears in 1 contract

Samples: Employment Agreement (Vertel Corp)

Salary Continuance. If Officer experiences an ------------------ Involuntary Termination during the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary (subject to any applicable tax withholding) as of the time of termination for twelve (12) months following such termination (the "Original -------- Term Severance Period"). If Officer ------------------------------ experiences an Involuntary Termination --------------------- during any period of the Agreement following the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary as of the time of termination for six nine (69) months following such termination (the "Subsequent Term Severance Period" and -------------------------------- together with the Original Term Severance -------------------------------- Period, the "Applicable Severance -------------------- Period"). Such payments will be made during in one lump --------------------------- sum payment within two weeks of the Applicable Severance Period on ------ normal Company payroll paydaysdate of termination of Officer's employment.

Appears in 1 contract

Samples: Employment Agreement (Vertel Corp)

Salary Continuance. If Officer experiences an ------------------ Involuntary Termination during the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary (subject to any applicable tax withholding) as of the time of termination for twelve (12) months following such termination (the "Original Term Severance ----------------------- Period"). If Officer ------------------------------ experiences an Involuntary Termination during any period of ------ the Agreement following the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary as of the time of termination for six (6) months following such termination (the "Subsequent Term --------------- Severance Period" and -------------------------------- together with the Original Term Severance Period, the ---------------- "Applicable Severance -------------------- Period"). Such payments will be made during in one lump sum --------------------------- payment within two weeks of the Applicable Severance Period on ------ normal Company payroll paydaysdate of termination of Officer's employment.

Appears in 1 contract

Samples: Employment Agreement (Vertel Corp)

Salary Continuance. If Officer experiences an ------------------ Involuntary Termination during the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary (subject to any applicable tax withholding) as of the time of termination for twelve (12) months following such termination (the "Original Term Severance ----------------------- Period"). If Officer ------------------------------ experiences an Involuntary Termination during any period of ------ the Agreement following the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary as of the time of termination for six (6) months following such termination (the "Subsequent Term --------------- Severance Period" and -------------------------------- together with the Original Term Severance Period, the payment within two weeks of "Applicable Severance -------------------- Period"). Such payments will --------------------------- be made during in one lump sum the Applicable Severance Period on ------ normal Company payroll paydaysdate of termination of Officer's employment.

Appears in 1 contract

Samples: Employment Agreement (Vertel Corp)

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Salary Continuance. If Officer experiences an Involuntary ------------------ Involuntary Termination during the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary (subject to any applicable tax withholding) as of the time of termination for twelve (12) months following such termination (the "Original Term Severance Period"). If Officer ------------------------------ experiences an ------------------------------ Involuntary Termination during any period of the Agreement following the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary as of the time of termination for six (6) months following such termination (the "Subsequent Term Severance Period" and together -------------------------------- together with the Original Term Severance Period, the "Applicable Severance -------------------- Period"). --------------------------- Such payments will be made during in one lump sum payment within two weeks of the Applicable Severance Period on ------ normal Company payroll paydaysdate of termination of Officer's employment.

Appears in 1 contract

Samples: Employment Agreement (Vertel Corp)

Salary Continuance. If Officer experiences an ------------------ Involuntary Termination ------------------ during the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary (subject to any applicable tax withholding) as of the time of termination for twelve (12) months following such termination (the "Original Term Severance Period"). If Officer ------------------------------ experiences an Involuntary ------------------------------ Termination during any period of the Agreement following the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary as of the time of termination for six (6) months following such termination (the "Subsequent Term Severance Period" and -------------------------------- together with the -------------------------------- Original Term Severance Period, the "Applicable Severance -------------------- Period"). Such --------------------------- payments will be made during in one lump sum payment within two weeks of the Applicable Severance Period on ------ normal Company payroll paydaysdate of termination of Officer's employment.

Appears in 1 contract

Samples: Employment Agreement (Vertel Corp)

Salary Continuance. If Officer experiences an ------------------ Involuntary Termination during the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary (subject to any applicable tax withholding) as of the time of termination for twelve (12) months following such termination (the "Original Term Severance ----------------------- Period"). If Officer ------------------------------ experiences an Involuntary Termination during any period of ------ the Agreement following the Original Term, Officer will be entitled to receive an amount equal to his or her regular monthly salary as of the time of termination for six twelve (612) months following such termination (the "Subsequent ---------- Term Severance Period" and -------------------------------- together with the Original Term Severance Period, the --------------------- "Applicable Severance -------------------- Period"). Such payments will be made during in one lump sum --------------------------- payment within two weeks of the Applicable Severance Period on ------ normal Company payroll paydaysdate of termination of Officer's employment.

Appears in 1 contract

Samples: Employment Agreement (Vertel Corp)

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