Settlement Sum. In consideration of Employee’s representations and releases in this Agreement, Mindspeed will provide Employee with salary continuation pay at one-half Employee’s current salary level, equal to $2,650.00 per week (less applicable withholdings) for fifty-two (52) weeks beginning on August 14, 2010, and continuing through August 12, 2011 (the “Salary Continuation Period”). The salary continuation payments will be made in accordance with Mindspeed’s bi-weekly payroll schedule. At the end of the Salary Continuation Period, Employee’s final salary continuation check will be paid along with all accrued, unused vacation, unless Employee opts to extend the Salary Continuation Period by applying unused accrued vacation. If Employee opts to extend the Salary Continuation Period by applying unused accrued vacation, Employee will be compensated for one-half their current salary level for a period of two times the number of weeks of unused accrued vacation. Employee will not accrue additional vacation hours after the Effective Date. During the Salary Continuation Period, Mindspeed will continue to (a) pay the premiums for Employee’s coverage under benefit plans in which Employee is enrolled as of the Effective Date, including Mindspeed’s group medical, dental and vision insurance plans, which coverage may be provided under COBRA at Mindspeed’s election, subject to Employee’s payment of any employee contributions that would have applied if Employee had remained an officer of Mindspeed; and (b) pay the costs of Employee’s annual executive physical examination, health club membership and one airline club, to the same extent as if Employee had remained an officer of Mindspeed during such period. Employee’s coverage under Mindspeed’s life, long-term disability, group personal excess liability and any supplemental insurance plans and Employee’s participation in Mindspeed’s 401(k) plan end on the Effective Date. Following the conclusion of the Salary Continuation Period, and payment of any unused accrued vacation, Employee will be placed on unpaid leave (the “Unpaid LOA Period”) for a period of eight (8) weeks following the Salary Continuation Period, during which time he will not accrue further pay, vacation or other compensation. During the Unpaid LOA Period, Mindspeed will continue to (a) pay the premiums for Employee’s continued coverage under benefit plans in which Employee is enrolled as of the Effective Date, including Mindspeed’s group medical, dental and vision insur...
Settlement Sum. VendingData shall pay Shuffle Master the sum of eight hundred thousand dollars ($800,000) as set forth in this paragraph. VendingData shall pay four hundred thousand dollars ($400,000) by wire transfer to Citibank Account No. 500228226, ABA Routing 000000000; Swift # XXXXXX00; Account name Shuffle Master, Inc. Concentration Account; Xxxx Xxxxxxx 0000 Xxxxxxx, Xxx Xxxxx, Xxxxxx 00000 within two (2) days of the Effective Date, after which, within two (2) days, the parties shall file the order of dismissal set forth in Section 1.4. No later than ten (10) months after the Effective Date (the “Due Date”), VendingData shall pay the remaining four hundred thousand dollars ($400,000) of the settlement sum (the “Second Payment”). On the Effective Date, VendingData shall also provide Shuffle Master with an original executed confession of judgment (the “Judgment”) on this Agreement (in the form of Exhibit A attached hereto) in the amount of $400,000, which Shuffle Master shall have the right to immediately file. Subject to the foregoing, Shuffle Master shall execute on the Judgment only in the event VendingData fails to make timely payment of the Second Payment. Further, if the Second Payment is not timely made, then all applicable provisions of Paragraph 1.1 hereof shall apply and be available to Shuffle Master. Upon payment of the Second Payment, Shuffle Master shall immediately take any and all action necessary to nullify, cancel and expunge the Judgment.
Settlement Sum. UnitedHealth shall pay the settlement sum of $895,000,000 (the “Settlement Sum”). $450,000,000 of the Settlement Sum (“First Installment”) will be deposited into an interest-bearing escrow account controlled by Plaintiffs’ Lead Counsel (“Lead Counsel”) and subject to the Court’s oversight (the “Settlement Account”) by wire transfer according to the instructions to be supplied by Plaintiffs, by the earlier of (i) ten (10) days following the date the Court preliminarily approves the terms of the Settlement (“Preliminary Approval”); or (ii) September 15, 2008. UnitedHealth will deposit the remainder of the Settlement Sum, that is $445,000,000, (“Second Installment”) into the Settlement Account, upon the earlier of: (i) ten (10) days following the date the Court gives its final approval of the Settlement and enters a Partial Final Judgment and Order of Dismissal with prejudice (“Partial Final Judgment”) and the Partial Final Judgment is affirmed on appeal and/or is no longer subject to appeal or certiorari, and the time for any petition for reargument, appeal, or review, by certiorari or otherwise, has expired; (ii) ten (10) days following execution by Plaintiffs and both Non-Settling Defendants of a Memorandum of Understanding that contains an agreement in principle for the settlement of the Consolidated Action, as between the Plaintiffs and Non-Settling Defendants; or (iii) January 1, 2009. The principal amount of the Second Installment shall bear interest from the date of the deposit of the First Installment until paid at four and one half (4.5) percent. No funds are to be paid or withdrawn from the Settlement Account absent a Court order, except as is consistent with the terms of the Settlement for the payment of notice and Settlement administration, taxes on the Settlement Sum, and tax form preparation, or as otherwise to be provided in the Stipulation.
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Settlement Sum. Lifeway has agreed to pay the sum of $400,000 and Xxxxxxx has agreed to accept the sum of $400,000 in full and complete satisfaction for: i) complete resolution of the Dispute and any Claims arising therefrom and; ii) for termination of the Endorsement Agreement all in accordance with the terms of this Settlement Agreement (collectively the "Settlement Sum").
Settlement Sum. In exchange for the releases, obligations, and promises set forth in this Settlement Agreement (and subject to the terms and conditions contained in this Settlement Agreement), Defendant agrees to pay the Maximum Gross Settlement Amount of Seven Million Six Xxxxxx d Thousand Dollars and Ze ro Ce nts ($7,600,000.00), which is the total and all- inclusive amount Defendant shall be obligated to pay under the settlement embodied by this Settlement Agreement (except that Defendant shall pay the employer’s share of payroll taxes and withholdings with respect to the wages portion of individua l settlement shares separately and in addition to the Maximum Gross Settlement Amount), for the full resolution of the instant Lawsuit and Released Claims. The Maximum Gross Settlement Amount includes amounts appropriated to the Settlement Plaintiffs, Settlement Administration Costs to the Settlement Administra tor, Attorneys’ Fees and Costs to Class Counsel, and Service Awards to Named Plaintiffs.
Settlement Sum. In order to compromise and settle their differences through the payment and acceptance of a sum certain, VL shall pay the sum of $150,000 (the "Settlement Sum") to or for the account of COF in six (6) equal monthly installments of $25,000. VL shall make the first installment payment on or within three (3) business days after the Effective Date, and shall make five (5) additional installment payments on the same day of each month thereafter until the Settlement Sum is paid in full.
Settlement Sum. Corautus shall provide or pay PMSI the following (the “Settlement Sum”):
2.1 Upon request of PMSI, Corautus shall pay, or reimburse PMSI, the cost to remedy Corautus’s unfulfilled obligations under Paragraph 12.1 and Exhibit “C” of the Lease in accordance with plans and specifications prepared by Landlord, by contractors selected by Landlord, to a maximum aggregate cost of Six Hundred Fifty Thousand Dollars ($650,000). Subject to the foregoing aggregate limitation, Corautus shall make payment as from time to time directed by PMSI in writing, such writing containing appropriate wire transfer instructions, upon not less than ten (10) business days notice. Corautus shall not be obligated to make more than ten (10) separate disbursements. If Corautus has not disbursed the aggregate sum of $650,000 under this Section 2.1 on or before March 31, 2004, then Corautus shall make payment to PMSI on or before April 15, 2004 of such sum as will bring the aggregate of the payments made by Corautus under this Section 2.1 to $650,000. All payments by Corautus under this Section 2.1 shall be by bank wire or other delivery of good funds.
2.2 On or before the tenth (10th) day of each of the twenty-two (22) consecutive calendar months commencing February, 2004, and continuing through November, 2005, Corautus shall pay to PMSI the sum of Twenty-Five Thousand Dollars ($25,000.00) (for a grand total under this Section 2.2 of $550,000), with each such payment to be made by wire transfer or otherwise by good funds delivered to PMSI.
2.3 Corautus shall cause to be issued to PMSI with respect to each of the twenty-four (24) consecutive calendar months commencing November, 2003, and ending October, 2005, that number of whole shares of Common Stock of Corautus (“Common Stock”) which on the first day of each such month shall have a “Trading Value” of $50,000. The Trading Value shall be the closing price per share of the Common Stock on the first trading day for the Common Stock for each of the above months. By way of illustration, if the closing price of the Common Stock on December 1, 2003 is $5.00 per share and on May 1, 2004 is $10.00 per share, then the number of shares to be delivered by Corautus to PMSI for such months, respectively, shall be 10,000 shares and 5,000 shares Corautus will deliver to PMSI the shares of Common Stock pursuant to the following schedule: For Months May 5, 2004 November, 2003 - April, 2004 March 5, 2005 May, 2004 - February, 2004 January 5, 2006 March, 2...
Settlement Sum. “Settlement Sum” means the total amount of one million two hundred fifty thousand dollars ($1,250,000) that Defendants will pay to establish the Settlement Fund. The Settlement Sum does not include amounts to be paid by Defendants to the Settlement Administrator, which will be invoiced as incurred and that will be paid separately in an amount not to exceed one hundred fifty thousand dollars ($150,000).
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