Common use of Salary Continuance Clause in Contracts

Salary Continuance. Executive shall receive, as severance, an amount equal to Executive’s Base Salary for six (6) months, payable in equal installments over the six (6) month period following the Termination Date in accordance with the Company’s payroll schedule then in effect, provided that (i) the payments shall commence on the first regularly scheduled payroll pay date following the effective date of the Release, (ii) the first payment shall be a “catch up” payment to include the total amount that Executive would have received as of such date if these payments had commenced with the first payroll pay date following the Termination Date, and (iii) such payment schedule is subject to any delay in payment required by Section 5.5.

Appears in 3 contracts

Samples: General Severance Benefits and Change in Control Severance Benefits Agreement (Nanometrics Inc), Severance Agreement (Nanometrics Inc), Severance Agreement (Nanometrics Inc)

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Salary Continuance. Executive shall receive, as severance, an amount equal to Executive’s Base Salary for six twelve (612) months, payable in equal installments over the six twelve (612) month period following the Termination Date in accordance with the Company’s payroll schedule then in effect, provided that (i) the payments shall commence on the first regularly scheduled payroll pay date following the effective date of the Release, (ii) the first payment shall be a “catch up” payment to include the total amount that Executive would have received as of such date if these payments had commenced with the first payroll pay date following the Termination Date, and (iii) such payment schedule is subject to any delay in payment required by Section 5.5.

Appears in 2 contracts

Samples: Severance Agreement (Nanometrics Inc), Severance Agreement (Nanometrics Inc)

Salary Continuance. Executive shall receive, as severance, an amount equal to eighteen (18) months of Executive’s monthly Base Salary for six (6) monthsrate, payable in equal installments over the six eighteen (618) month period following the Termination Date in accordance with the Company’s payroll schedule then in effect, provided that (i) the payments shall commence on the first regularly scheduled payroll pay date following the effective date of the Release, (ii) the first payment shall be a “catch up” payment to include the total amount that Executive would have received as of such date if these payments had commenced with the first payroll pay date following the Termination Date, and (iii) such payment schedule is subject to any delay in payment required by Section 5.57(e).

Appears in 1 contract

Samples: Employment Agreement (Nanometrics Inc)

Salary Continuance. Executive shall receive, as severance, an amount equal to Executive’s 's Base Salary for six (6) months, payable in equal installments over the six (6) month period following the Termination Date in accordance with the Company’s 's payroll schedule then in effect, provided that (i) the payments shall commence on the first regularly scheduled payroll pay date following the effective date of the Release, (ii) the first payment shall be a "catch up" payment to include the total amount that Executive would have received as of such date if these payments had commenced with the the I. first payroll pay date following the Termination Date, and (iii) such payment schedule is subject to any delay in payment required by Section 5.5.

Appears in 1 contract

Samples: General Severance Benefits and Change in Control Severance Benefits Agreement (Nanometrics Inc)

Salary Continuance. Executive shall receive, as severance, an amount equal to Executive’s Base Salary for six twelve (612) months, payable in equal installments over the six twelve (612) month period following the Termination Date in accordance with the Company’s payroll schedule then in effect, provided that (i) the payments shall commence on the first regularly scheduled payroll pay date following the effective date of the Release, (ii) the first payment shall be a “catch up” payment to include the total amount that Executive would have received as of such date if these payments had commenced with the first payroll pay date following the Termination Date, and (iii) such payment schedule is subject to any delay in payment required by Section 5.5.

Appears in 1 contract

Samples: General Severance Benefits and Change in Control Severance Benefits Agreement (Nanometrics Inc)

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Salary Continuance. Executive shall receive, as severance, an amount equal to twelve (12) months of Executive’s monthly Base Salary for six (6) monthsrate, payable in equal installments over the six twelve (612) month period following the Termination Date in accordance with the Company’s payroll schedule then in effect, provided that (i) the payments shall commence on the first regularly scheduled payroll pay date following the effective date of the Release, (ii) the first payment shall be a “catch up” payment to include the total amount that Executive would have received as of such date if these payments had commenced with the first payroll pay date following the Termination Date, and (iii) such payment schedule is subject to any delay in payment required by Section 5.57(e).

Appears in 1 contract

Samples: Employment Agreement (Nanometrics Inc)

Salary Continuance. Executive shall receive, as severance, an amount equal to Executive’s Base Salary for six (6) months, payable in equal installments over the six (6) month period following the Termination Date in accordance with the Company’s payroll schedule then in effect, provided that (i) the payments shall commence on the first regularly scheduled payroll pay date following the effective date of the Release, (ii) the first payment shall be a “catch up” payment to include the total amount that Executive would have received as of such date if these payments had commenced with the the 1. 116683381 v2 first payroll pay date following the Termination Date, and (iii) such payment schedule is subject to any delay in payment required by Section 5.5.

Appears in 1 contract

Samples: General Severance Benefits and Change in Control Severance Benefits Agreement (Nanometrics Inc)

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