Separation Payment and Other Consideration Sample Clauses

Separation Payment and Other Consideration. If: (1) you countersign this Separation Letter, (2) Insignia does not terminate your employment for Cause before the Anticipated Separation Date, (3) Insignia determines that you satisfy all of your obligations identified in this Separation Letter during the Transition Term, and (4) you sign and do not revoke the enclosed Confidential Separation Agreement and Release (the “Separation Agreement”) after the end of the Transition Term, then you will receive the consideration identified in the Separation Agreement (which includes a $7,000.00 payment, less applicable taxes and other withholdings, and mutual release provided by Insignia)
Sample 1
AutoNDA by SimpleDocs
Separation Payment and Other Consideration. For an in consideration of Employee’s execution, delivery and non-revocation of this Agreement, the Company agrees to pay Employee one lump sum payment equal to the sum of (i) 12 months of Base Salary (currently $500,000), minus applicable withholding and deductions, (ii) separation payment of $500,000 in part as consideration for the extension of the non-competition term in the Employment Agreement, among other things, and (iii) an amount equal to 18 months of COBRA premiums based on the terms of the Company’s group health care plan and Employee’s coverage under such plan as of the Effective Date, minus applicable withholding and deductions (collectively, the “Separation Payment”). The Separation Payment shall be paid to Employee as soon as practicable after the Effective Date (and in no event later than the first regular payroll date following the Effective Date) in accordance with the Company’s normal payroll administration procedures; provided that all conditions precedent to payment of the Separation Payment described in Paragraph 3(b) of this Agreement have been satisfied. The Company will issue Employee an IRS Form W-2 for the Separation Payment. Employee acknowledges that Employee is not otherwise entitled to the Separation Payment or any other consideration provided to Employee under this Agreement. Employee further acknowledges that Employee has been paid all wages, bonuses, commissions and other compensation owed for all work and any earned but unused vacation time by Employee through the Separation Date. Additionally, the Company has agreed to extend the period to exercise certain options granted and vest certain restricted stock awards to Employee as set forth in Appendix A upon the occurrence of the Effective Date.
Sample 1

Related to Separation Payment and Other Consideration

  • Expenses and Other Payments (a) Except as otherwise provided in this Section 8.3, each party shall pay its own expenses incident to preparing for, entering into and carrying out this Agreement and the consummation of the Transactions, whether or not the Merger shall be consummated.

  • Taxes and Other Payments 7.1. Unless otherwise specifically provided for in this Agreement, the Company shall not be liable for the payment of taxes or other payments for which the Employee is responsible as result of this Agreement or any other legal provision, and the Employee shall be personally liable for such taxes and other payments.

  • Expenses and Other Benefits 6.1 The Company shall promptly reimburse to the Executive all reasonable travel and other out of pocket expenses properly incurred by him in the performance of his duties under the Employment. The Executive will submit claims for expenses reimbursement to the Company regularly with appropriate supporting documentation.

  • Fees, Expenses and Other Payments (a) Except as otherwise provided in this Section 7.3, whether or not the Merger is consummated, all costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby (including, without limitation, fees and disbursements of counsel, financial advisors and accountants) shall be borne solely and entirely by the party which has incurred such costs and expenses (with respect to such party, its "Expenses").

  • Vacation and Other Benefits Each Contract Year, Executive shall be entitled to four (4) weeks of paid vacation in accordance with Employer’s applicable policies and procedures for executive-level employees. Executive shall also be eligible to participate in and receive the fringe benefits generally made available to other executive-level employees of Employer in accordance with and to the extent that Executive is eligible under the general provisions of Employer’s fringe benefit plans or programs; provided, however, that Executive understands that these benefits may be increased, changed, eliminated or added from time to time during the Term as determined in Employer’s sole and absolute discretion.

  • Royalties and Other Payments A. For the rights, privileges and exclusive license granted hereunder, Licensee shall pay to CMCC the following amounts in the manner hereinafter provided. Unless expressly stated otherwise in this Agreement, periodic payment obligations listed below shall endure through the Term of this Agreement, unless this Agreement shall be sooner terminated as hereinafter provided.

  • Improper and Other Payments (a) Neither the Company, any director, officer, employee thereof, nor any agent or representative of the Company nor any person acting on behalf of any of them, has made, paid or received any unlawful bribes, kickbacks or other similar payments to or from any person or authority, (b) no contributions have been made, directly or indirectly, by the Company to a domestic or foreign political party or candidate; and (c) the internal accounting controls of the Company are believed by the Company’s management to be adequate to detect any of the foregoing under current circumstances.

  • Tax and Other Liabilities Neither Seller nor any Seller Subsidiary has any liability of any nature, accrued or contingent, including without limitation liabilities for Taxes and liabilities to customers or suppliers, other than the following:

  • Compensation and Other Benefits Subject to the provisions of this Agreement, the Company shall pay and provide the following compensation and other benefits to the Executive during the Term as compensation for services rendered hereunder:

  • Payment of Transfer Taxes, Fees and Other Expenses The Company agrees to pay any and all original issue taxes and stock transfer taxes that may be imposed on the issuance of shares received by an Employee in connection with the Restricted Stock Units, together with any and all other fees and expenses necessarily incurred by the Company in connection therewith.

Time is Money Join Law Insider Premium to draft better contracts faster.