Common use of Salary Continuation Payments Clause in Contracts

Salary Continuation Payments. The Executive shall be eligible to receive continued payment of the Executive’s then-current base salary for a period of six (6)- month. The first such payment shall be made on the sixtieth (60th) day following the date of the Executive’s Separation from Service provided the Release is effective, and subsequent payments will be made in accordance with the Company’s normal payroll schedule for salaried employees. Such cash payments shall be treated as a right to a series of separate payments for purposes of Section 409A of the Code. B. Health

Appears in 2 contracts

Samples: Severance Agreement (ALPHA & OMEGA SEMICONDUCTOR LTD), Severance Agreement (ALPHA & OMEGA SEMICONDUCTOR LTD)

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Salary Continuation Payments. The Executive shall be eligible to receive continued payment of the Executive’s then-current base salary for a period of six (6)- month6) months. The first such payment shall be made on the sixtieth (60th) day following the date of the Executive’s Separation from Service provided the Release is effective, and subsequent payments will be made in accordance with the Company’s normal payroll schedule for salaried employees. Such cash payments shall be treated as a right to a series of separate payments for purposes of Section 409A of the Code. B. Health

Appears in 2 contracts

Samples: Severance Agreement (ALPHA & OMEGA SEMICONDUCTOR LTD), Severance Agreement (ALPHA & OMEGA SEMICONDUCTOR LTD)

Salary Continuation Payments. The Executive shall be eligible to receive continued payment of the Executive’s then-current base salary for a period of six (6)- month6) months. The first such payment shall be made on the sixtieth (60th) day following the date of the Executive’s Separation from Service provided the Release is effective, and subsequent payments will be made in accordance with the Company’s normal payroll schedule for salaried employees. Such cash payments shall be treated as a right to a series of separate payments for purposes of Section 409A of the Code. B. Health.

Appears in 1 contract

Samples: Retention Agreement

Salary Continuation Payments. The Executive shall be eligible to receive continued payment of the Executive’s then-current base salary for a period of six (6)- month6) months. The first such payment shall be made on the sixtieth (60th) day following the date of the Executive’s Separation from Service provided the Release is effective, and subsequent payments will be made in accordance with the Company’s normal payroll schedule for salaried employees. Such cash payments shall be treated as a right to a series of separate payments for purposes of Section 409A of the Code. B. Health.

Appears in 1 contract

Samples: Severance Agreement (ALPHA & OMEGA SEMICONDUCTOR LTD)

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Salary Continuation Payments. The Executive shall be eligible to receive continued payment of the Executive’s then-current base salary for a period of six (6)- month. The first such payment shall be made on the sixtieth (60th) day following the date of the Executive’s Separation from Service provided the Release is effective, and subsequent payments will be made in accordance with the Company’s normal payroll schedule for salaried employees. Such cash payments shall be treated as a right to a series of separate payments for purposes of Section 409A of the Code. B. Health.

Appears in 1 contract

Samples: Retention Agreement

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