Severance by the Company, Continuing Salary and Medical Benefits Sample Clauses

Severance by the Company, Continuing Salary and Medical Benefits. (a) The Company agrees that provided that so long as the Company has received an original copy of this Agreement executed by Executive on or before February 3, 2011, and has not revoked the release contained in Section 6 of this Agreement, it will: (i) pay all salary and accrued and unused vacation through February 3, 2011, (ii) pay for the continuation of medical benefits for Executive and his family at existing levels for 12 months; (iii) allow Executive to keep as his personal property his existing computer and office desk; and (iv) enter into a separate consulting agreement with Executive providing for the engagement of Executive as a consultant to the Company in accordance with the terms thereof.
Sample 1
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Severance by the Company, Continuing Salary and Medical Benefits. (a) The Company agrees that provided that so long as the Company has received an original copy of this Agreement executed by Executive on or before November 28, 2007, and provided that Executive has not taken other employ, but continued to perform his obligations to the Company and Parent up to the Ending Date and has not revoked the release contained in Section 6 of this Agreement, it will: (i) continue paying Executive's current base salary, less all applicable deductions/withholdings, for the period ending January 2, 2008;
Sample 1
Severance by the Company, Continuing Salary and Medical Benefits. (a) The Company agrees that provided that at least eight days have elapsed between the Company's receipt of an original executed copy of this Agreement and the Effective Date, and provided that Executive has continued to perform his obligations to the Company and Parent up to the Effective Date and has not revoked the release contained in SECTION 6(c) of this Agreement, it will: (i) continue paying Executive's current base salary, as it is set forth in Executive's employment agreement with the Company dated July 1, 2004 and as amended October 1, 2004 (the "EMPLOYMENT AGREEMENT"), less all applicable deductions/withholdings, for a period ending on the Effective Date; (ii) pay Executive on the Effective Date the cash value of all accrued but unused vacation as of the Effective Date less all applicable deductions/withholdings; (iii) pay Executive severance pay in the aggregate amount of $145,000 which shall be payable either in one lump sum April 1, 2005, or at the sole discretion of the Company, two payments in the amounts of $72,500.00 on April 1, 2005 and $72,500.00 on or before May 1, 2005; and (iv) pay for the continuation of medical benefits for Executive and his family at existing levels from and after the date of this Agreement and until the earlier of (x) March 31, 2006 and (y) the date any subsequent employer of Executive offers to pay for medical benefits that are comparable to those provided by and paid for by the Company on the Effective Date. Executive shall notify the Company within 3 business days of procuring such new employment of the name and address of Executive's new employer and the date employment will commence
Sample 1
Severance by the Company, Continuing Salary and Medical Benefits. (a) The Company agrees that provided that at least eight days have elapsed between the Company’s receipt of an original executed copy of this Agreement and the Effective Date, and provided that Executive has continued to perform his obligations to the Company and Parent up to the Effective Date and has not revoked the release contained in Section 7(c) of this Agreement, it will: (i) continue paying Executive’s current base salary, as it is set forth in Executive’s Employee Retention Agreement with the Company dated October 20, 2008 (the “Retention Agreement”), less all applicable deductions/withholdings, for a period ending on the Effective Date and (ii) pay for the continuation of medical benefits for Executive and his family at existing levels from and after the date of this Agreement and until the Effective Date.
Sample 1

Related to Severance by the Company, Continuing Salary and Medical Benefits

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Post-Termination Benefits If the Executive's employment shall be terminated for any reason following a Change in Control and during the Term, the Company shall pay to the Executive the Executive's normal post-termination compensation and benefits as such payments become due. Such post-termination compensation and benefits shall be determined under, and paid in accordance with, the Company's retirement, insurance and other compensation or benefit plans, programs and arrangements as in effect immediately prior to the Date of Termination or, if more favorable to the Executive, as in effect immediately prior to the occurrence of the first event or circumstance constituting Good Reason.

  • Severance Payments; Salary and Benefits The Company agrees to provide Executive with the severance payments and benefits described in Section 4(b) [and Section 4(c)] of the Employment Agreement, payable at the times set forth in, and subject to the terms and conditions of, the Employment Agreement. In addition, to the extent not already paid, and subject to the terms and conditions of the Employment Agreement, the Company shall pay or provide to Executive all other payments or benefits described in Section 3(c) of the Employment Agreement, subject to and in accordance with the terms thereof.

  • Employee Compensation The wages, salaries and other compensation paid to employees who will be employed for the benefit of the Project, and to others who perform special services for the benefit of the Project, to the extent not otherwise paid through a Cash Management System, shall be paid by Owner from a Project Account pursuant to this Section 9.2.

  • Termination Benefits (a) If Executive’s employment is voluntarily (in accordance with Section 2(a) of this Agreement) or involuntarily terminated within two (2) years of a Change in Control, Executive shall receive:

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

  • Accrued Compensation and Benefits Notwithstanding anything to the contrary in Section 2 and 3 above, in connection with any termination of employment upon or following a Change in Control (whether or not a Qualifying Termination or CIC Qualifying Termination), the Company or its subsidiary shall pay Executive’s earned but unpaid base salary and other vested but unpaid cash entitlements for the period through and including the termination of employment, including unused earned vacation pay and unreimbursed documented business expenses incurred by Executive prior to the date of termination (collectively “Accrued Compensation and Expenses”), as required by law and the applicable Company or its subsidiary, as applicable, plan or policy. In addition, Executive shall be entitled to any other vested benefits earned by Executive for the period through and including the termination date of Executive’s employment under any other employee benefit plans and arrangements maintained by the Company or its subsidiary, as applicable, in accordance with the terms of such plans and arrangements, except as modified herein (collectively “Accrued Benefits”). Any Accrued Compensation and Expenses to which the Executive is entitled shall be paid to the Executive in cash as soon as administratively practicable after the termination, and, in any event, no later than two and one-half (2-1/2) months after the end of the taxable year of the Executive in which the termination occurs or at such earlier time as may be required by applicable law or Section 10 below, and to such lesser extent as may be mandated by Section 9 below. Any Accrued Benefits to which the Executive is entitled shall be paid to the Executive as provided in the relevant plans and arrangements.

  • Other Termination Benefits In addition to any amounts or benefits payable upon a Termination of Employment hereunder, Executive shall, except as otherwise specifically provided herein, be entitled to any payments or benefits provided under the terms of any plan, policy or program of the Company in which Executive participates or as otherwise required by applicable law.

  • ADDITIONAL COMPENSATION AND BENEFITS The Executive shall receive the following additional compensation and welfare and fringe benefits:

  • Severance Pay In the event that your employment is terminated by the Company, except for “Cause” as defined below, you will be eligible to receive the following:

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