Settlement Compensation. The City agrees to pay Claimant the amount of ONE HUNDRED TWENTY FIVE THOUSAND DOLLARS ($125,000.00) to resolve all claims for damages, attorneys’ fees and costs, related to the INCIDENT. The settlement amount will be paid to Xxxxx Law LLC, as counsel for Claimant, within fifteen (15) business days following the execution of this Agreement and receipt by the City of a W-9 form from Claimant.
Settlement Compensation. As compensation for the settlement of the Securities and the release of the Claims:
(i) the Company shall issue the Noteholder 13,334 shares of the Company’s common stock (the “Settlement Shares”); and
(ii) DAO shall issue the Noteholder a new $10,000 Zero Interest Non-Convertible Promissory Note (the “DAO Note” a copy of which has been attached hereto as Exhibit E and collectively, with the Settlement Shares, the “Settlement Compensation”). The Settlement Compensation shall represent the complete and final settlement of the total compensation the Noteholder has claimed as due and payable in connection with Claims.
Settlement Compensation. In full, complete, and final settlement of the Settlement Class’s released claims, Defendants agree to pay compensation to the Settlement Class as follows:
Settlement Compensation. 1.1 The Company agrees to pay to Mx. xxx Xxxxxxx, 12 months salary totaling One Hundred Seventy Thousand Dollars ($170,000). Mx. xxx Xxxxxxx will be paid in 26 pay periods as W-2 income. Mx. xxx Xxxxxxx will receive gross pay each pay period in the amount of $6,538.46, less all applicable withholdings. The operative date of such payments is October 27, 2006. The Company will make all payments necessary to bring Mx. xxx Xxxxxxx’x pay current within two weeks of the effective date of this Agreement as described in paragraph 17 below.
1.2 The Company will pay Mx. xxx Xxxxxxx, as W-2 income, bonus compensation of Fifty-Six Thousand Dollars ($56,000), less all applicable withholdings, upon the earlier of (i) the date final bonuses are distributed to all employees and executive officers of the Company; or (ii) March 31, 2007.
1.3 Mx. xxx Xxxxxxx will also be entitled to 12 months of additional stock option vesting. Mx. xxx Xxxxxxx will have a total of 230,187 stock options which will fully vest on the date the Agreement is executed by the parties. Mx. xxx Xxxxxxx shall have 12 months after the date the Agreement is executed by the parties to exercise his options. This 230,187 number of shares is based on the Company’s pre-IPO (initial public offering) stock option schedule. Thus, such shares will be subject to the same reverse split identified in the Company’s S-1 registration filing (1:4.25), and therefore the actual number of shares Mx. xxx Xxxxxxx may be granted will be less than the 230,187 shares as shown in the schedule, attached as Exhibit A. Pricing of options is also subject to increase to reflect the reverse split as shown on Exhibit A.
1.4 Mx. xxx Xxxxxxx shall indemnify, hold harmless and defend the Company from any claims, tax liability, interest, penalties, attorneys’ fees or costs which the Company is required to pay as a result of Mx. xxx Xxxxxxx’x failure to report the Settlement Compensation described herein to the proper taxing authorities.
Settlement Compensation. 1.1 The Company will pay Mx. Xxxxxxxxx, as W-2 income, the equivalent of 14 months salary, totaling One Hundred Ninety-Eight Thousand, Three Hundred Thirty-Three Dollars and Thirty-Three Cents ($198,333.33), less all applicable holdings.
1.2 The Company will pay Mx. Xxxxxxxxx, as W-2 income, bonus compensation of Fifty-Six Thousand Dollars ($56,000), less all applicable withholdings.
Settlement Compensation. Concurrent with the execution of this Agreement, Tully’s agrees to cause TCAP to pay to UCC Six Million U.S. Dollars ($6,000,000), payable in the form of the Promissory Note attached hereto as Exhibit A.
Settlement Compensation. As full and final settlement, the Parties agree that Licensee shall pay to County the sum of Forty-Three Thousand Seven Hundred Ten and 60/100 Dollars ($43,710.60) within thirty (30) days of the full execution of this Agreement.
Settlement Compensation. Contractor authorizes Carrier to charge back to or deduct from Contractor’s gross compensation, Escrow Fund, or any money owed to Contractor all amounts Contractor owes to Carrier, as listed or referenced in the Deductions Table in Section 5 of Xxxxx- xxx A (“Deductions Table”) or elsewhere in this Agreement, result- ing in a net amount, if any, to be remitted to Contractor (“Settle- ment Compensation”). If Contractor owes Carrier a net amount fol- lowing any settlement, Contractor agrees to immediately pay Car- rier that amount. Carrier has the right to recover, through all legal means, any such amounts Contractor owes Carrier. Contractor agrees not to charge any amounts to Xxxxxxx’s account, or to exe- cute or endorse any instrument for or on behalf of Carrier, without Xxxxxxx’s advance written permission. Contractor and Xxxxxxx will not incur or authorize any other debts in the name of the other.
Settlement Compensation. The CITY agrees to pay CLAIMANTS the amount of THREE HUNDRED FIFTY THOUSAND DOLLARS ($350,000). A check in this amount shall be issued by the CITY within fifteen (15) business days following the execution of this Agreement and receipt by the City of a W-9 from CLAIMANTS.
Settlement Compensation. In the event your claim is determined to be valid, select the method by which you would like to receive the payment.
