Common use of Salary Continuation Payment Clause in Contracts

Salary Continuation Payment. The Executive shall receive his base salary, at the monthly rate in effect for him under Paragraph 3.A. at the time of his Involuntary Termination, for a period of twelve (12) months in equal installments in accordance with BMP's normal payroll practices, Subject to the deferral restrictions of Paragraph 19, the first such payment shall be made not later than the first pay day following the Executive's Involuntary Termination. Each such salary continuation payment shall be subject to all applicable withholding requirements as set forth in Paragraph 3.C.

Appears in 1 contract

Samples: Employment Agreement (Beijing Med Pharm Corp)

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Salary Continuation Payment. The Executive shall receive his base salary, at the monthly rate in effect for him under Paragraph 3.A. at the time of his Involuntary Termination, for a period of twelve (12) months in equal installments in accordance with BMP's ’s normal payroll practices, Subject to the deferral restrictions of Paragraph 19, the first such payment shall be made not later than the first pay day within thirty (30) days following the Executive's ’s Involuntary Termination, subject to the Executive’s execution and non-revocation of the Release. Each such salary continuation payment shall be subject to all applicable withholding requirements as set forth in Paragraph 3.C.

Appears in 1 contract

Samples: Employment Agreement (BMP Sunstone CORP)

Salary Continuation Payment. The Executive shall receive his her base salary, at the monthly rate in effect for him her under Paragraph 3.A. at the time of his her Involuntary Termination, for a period of twelve (12) 12 months in equal installments in accordance with BMP's ’s normal payroll practices, Subject to the deferral restrictions of Paragraph 19, the first such payment shall be made not later than the first pay day following the Executive's ’s Involuntary Termination. Each such salary continuation payment shall be subject to all applicable withholding requirements as set forth in Paragraph 3.C.

Appears in 1 contract

Samples: Employment Agreement (BMP Sunstone CORP)

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Salary Continuation Payment. The Executive shall receive his base salary, at the monthly rate in effect for him under Paragraph 3.A. at the time of his Involuntary Termination, for a period of twelve (12) 12 months in equal installments in accordance with BMP's ’s normal payroll practices, Subject to the deferral restrictions of Paragraph 19, the first such payment shall be made not later than the first pay day within thirty (30) days following the Executive's ’s Involuntary Termination, subject to the Executive’s execution and non-revocation of the Release. Each such salary continuation payment shall be subject to all applicable withholding requirements as set forth in Paragraph 3.C.

Appears in 1 contract

Samples: Employment Agreement (BMP Sunstone CORP)

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