Common use of Salary Continuation Payment Clause in Contracts

Salary Continuation Payment. As soon as is administratively possible after the later of the Termination Date or the end of any applicable revocation period for this Agreement, Executive will begin receiving eighteen (18) months of salary continuation payments (the period during which this will be paid shall hereinafter be referred to as the “Severance Period”) at a bi-weekly gross rate of $12,741.83 (with total payments equaling $496,931.37), minus any applicable deductions or withholdings or other reductions provided for under the Plan or required by applicable law, which will be payable in a manner and on days that correspond to the Company’s regular paydays and payroll practices. The first payment made pursuant to this paragraph may exceed a full pay period if it covers the period from the Termination Date through the date of the first payment. In this case, any subsequent payments made during the Severance Period will cover full pay periods and only include a partial pay period if necessary to pay any remaining salary continuation payments. Executive expressly authorizes the Company to make any necessary deductions, withholdings, or other reductions from amounts paid pursuant to this paragraph.

Salary Continuation Payment. As soon as is administratively possible after the later of the Termination Date or the end of any applicable revocation period for this Agreement, Executive will begin receiving eighteen (18) months of salary continuation payments (the period during which this will be paid shall hereinafter be referred to as the “Severance Period”) at a bi-weekly gross rate of $12,741.83 14,230.77 (with total payments equaling $496,931.37555,000.00), minus any applicable deductions or withholdings or other reductions provided for under the Plan or required by applicable law, which will be payable in a manner and on days that correspond to the Company’s regular paydays and payroll practices. The first payment made pursuant to this paragraph may exceed a full pay period if it covers the period from the Termination Date through the date of the first payment. In this case, any subsequent payments made during the Severance Period will cover full pay periods and only include a partial pay period if necessary to pay any remaining salary continuation payments. Executive expressly authorizes the Company to make any necessary deductions, withholdings, or other reductions from amounts paid pursuant to this paragraph.

Salary Continuation Payment. As soon as is administratively possible after the later of the Termination Date or the end of any applicable revocation period for this Agreement, Executive will begin receiving eighteen twelve (1812) months of salary continuation payments (the period during which this will be paid shall hereinafter be referred to as the “Severance Period”) at a bi-weekly gross rate of $12,741.83 11,854.00 (with total payments equaling $496,931.37308,204.00), minus any applicable deductions or withholdings or other reductions provided for under the Plan or required by applicable law, which will be payable in a manner and on days that correspond to the Company’s regular paydays and payroll practices. The first payment made pursuant to this paragraph may exceed a full pay period if it covers the period from the Termination Date through the date of the first payment. In this case, any subsequent payments made during the Severance Period will cover full pay periods and only include a partial pay period if necessary to pay any remaining salary continuation payments. Executive expressly authorizes the Company to make any necessary deductions, withholdings, or other reductions from amounts paid pursuant to this paragraph.

Salary Continuation Payment. As soon as is administratively possible after the later of the Termination Date or the end of any applicable revocation period for this Agreement, Executive will begin receiving eighteen (18) months of salary continuation payments (the period during which this will be paid shall hereinafter be referred to as the “Severance Period”) at a bi-weekly gross rate of $12,741.83 16,346.15 (with total payments equaling $496,931.37637,500.00), minus any applicable deductions or withholdings or other reductions provided for under the Plan or required by applicable law, which will be payable in a manner and on days that correspond to the Company’s regular paydays and payroll practices. The first payment made pursuant to this paragraph may exceed a full pay period if it covers the period from the Termination Date through the date of the first payment. In this case, any subsequent payments made during the Severance Period will cover full pay periods and only include a partial pay period if necessary to pay any remaining salary continuation payments. Executive expressly authorizes the Company to make any necessary deductions, withholdings, or other reductions from amounts paid pursuant to this paragraph.