TERMINATION SUMS Sample Clauses

TERMINATION SUMS. Subject to the Executive agreeing to all of the conditions set out below, and receipt by the Company of a copy of this Agreement signed by the Executive and the attached certificate signed by the Executive’s legal adviser, the Company will pay the Executive the following sums: (i) £[appropriate figure to be inserted] in respect of the Executive’s entitlement to an annual incentive award for the year in which the termination of the Executive’s employment with the Company occurs, as calculated in accordance with Clause 19.2 (b) of the Service Agreement; (ii) the sum of £[appropriate figure to be inserted] in respect of the Executive’s entitlement to a Severance Payment, as calculated and defined in accordance with Clauses 19.2(c) and 19.3 of the Service Agreement; and (iii) the sum of £[appropriate figure to be inserted] in respect of the Executive’s entitlement to the unpaid balance of all previously earned cash bonus and other incentive awards with respect to performance periods which have been completed as at the Termination Date but not yet paid, as calculated in accordance with Clause 19.2(d) of the Service Agreement. The sums set out in (i) to (iii) above will be subject to such deductions for income tax and national insurance as are required by law and will be paid to the Executive within [14] days of the date of signature by him of this Agreement and signature by his legal adviser of the attached certificate. Payment will be made by transfer to the Executive’s bank account.
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TERMINATION SUMS. Subject to the Executive agreeing to all of the conditions set out below, and receipt by the Company of a copy of this Agreement signed by the Executive and the attached certificate signed by the Executive's legal adviser, the Company will pay the Executive the following sums: (i) (pound)[appropriate figure to be inserted] in respect of the Executive's entitlement to an annual incentive award for the year in which the termination of the Executive's employment with the Company occurs, as calculated in accordance with Clause 19.2 (b) of the Service Agreement; (ii) the sum of (pound)[appropriate figure to be inserted] in respect of the Executive's entitlement to a Severance Payment, as calculated and defined in accordance with Clauses 19.2(c) and 19.4 of the Service Agreement. 50% of the Severance Payment will be paid within 14 days of the Termination Date. The remaining 50% of the Severance Payment will be paid in four equal instalments strictly in accordance with and subject to the terms of Clause [19.3] [19.4] [delete as appropriate] of the Service Agreement; (iii) the sum of (pound)[appropriate figure to be inserted] in respect of the Executive's entitlement to the unpaid balance of all previously earned cash bonus and other incentive awards with respect to performance periods which have been completed as at the Termination Date but not yet paid, as calculated in accordance with Clause 19.2(d) of the Service Agreement; and (iv) [the sum of (pound)[appropriate figure to be inserted] in respect of the Executive's entitlement to payment under Clause 15.2(b) of the Service Agreement, such sum to be paid as and when any such excise tax as referred to in that Clause 15.2(b) is payable](1) The sums set out in (i) to [(iv)] above will be subject to such deductions for income tax and national insurance as are required by law). Save as set out in (iii) and (iv) above, the above sums will be paid to the Executive within [14] days of the date of signature by him of this Agreement and signature by his legal adviser of the attached certificate. Payment will be made by transfer to the Executive's bank account.
Sample 1
TERMINATION SUMS. (a) Subject to the Executive complying and continuing to comply with the terms of this Agreement, and receipt by the Company of a copy of this Agreement signed by the Executive and the attached certificate signed by the Executive’s legal adviser, the Company shall pay the Executive the following sums: (i) £85,500.00 in respect of the Executive’s entitlement to an annual incentive award for the year in which the termination of the Executive’s employment with the Company occurs, as calculated in accordance with Clause 18.2 (b) of the Service Agreement; and (ii) the sum of £766,756.00 in respect of the Executive’s entitlement to a Severance Payment, as calculated and defined in accordance with Clause 18.2(c) of the Service Agreement. (b) The sums set out in (i) to (ii) above shall be subject Income Tax and National Insurance deductions, as are required by law and shall be paid to the Executive within 7 days of the Company receiving a copy of this Agreement signed by the Executive and the attached certificate signed by the Executive's legal adviser. Payment shall be made by transfer to the Executive’s bank account (sort code 070436 and account number 00000000). (c) If the Executive has not complied with the terms of this Agreement as at the due date for any payment under paragraph 4 (Termination Sums), their entitlement to such payment will lapse. Without prejudice to any other rights which the Company may have, if the Executive commits a material breach of this Agreement either before or after the Termination Date, the Company will be entitled to recover in full all sums paid, and the value of benefits provided to the Executive under this Agreement, from the Executive immediately, but this Agreement will otherwise remain in force. The Company acknowledges that, as at the date of this Agreement, it is not aware of any matters which would amount to a material breach of the terms of this Agreement.
Sample 1
TERMINATION SUMS. 10.1 The following provisions shall apply in relation to the terms, calculation and payment of termination sums that are payable by the Secretary of State upon the occurrence of certain circumstances of termination of, or reduction in the scope of (in terms of the amount of Equipment subject thereto) the Contracts: (a) []50 (b) []51 (c) []52 (d) []53 (e) []54 10.2 Each of the Owner, the Operator and the TMM acknowledge that the provisions referred to in clause 10.1 shall apply in accordance with their terms, and shall apply without prejudice to any provisions of the Contracts providing for remedies (including the payment of termination sums) having effect between the parties thereto.
Sample 1
TERMINATION SUMS. Subject to the Executive agreeing to all of the conditions set out below, the Company will pay the Executive the following sums: (i) $[appropriate figure to be inserted] in respect of the Executive's entitlement to an annual incentive award for the year in which the termination of the Executive's employment with the Company occurs, as calculated in accordance with Clause 19.2 (b) of the Service Agreement; (ii) the sum of $[appropriate figure to be inserted] in respect of the Executive's entitlement to a Severance Payment, as calculated and defined in accordance with Clauses 19.2(c) and 19.3 of the Service Agreement; and (iii) the sum of $[appropriate figure to be inserted] in respect of the Executive's entitlement to the unpaid balance of all previously earned cash bonus and other incentive awards with respect to performance periods which have been completed as at the Termination Date but not yet paid, as calculated in accordance with Clause 19.2(d) of the Service Agreement. The sums set out in (i) to (iii) above will be subject to such deductions for income tax and national insurance as are required by law and will be paid to the Executive within [14] days of the date of signature by his of this Agreement. Payment will be made by transfer to the Executive's bank account.
Sample 1
TERMINATION SUMS. 4.1. Subject to the Executive agreeing to all of the conditions set out below, and receipt by the Company of a copy of this Agreement signed by the Executive and the attached certificate signed by the Executive's legal adviser, the Company will pay the Executive the following sums: (i) £325,997 in respect of the Executive's entitlement to an annual incentive award for the year in which the termination of the Executive's employment with the Company occurred as calculated in accordance with Clause 18.2(b) of the Service Agreement; and (ii) the sum of £752,700 in respect of the Executive's entitlement to the severance payment calculated and defined in accordance with Clause 18.2(c) of the Service Agreement. 4.2. The sums set forth above will be subject to such deductions for income tax and national insurance as are required by law and will be paid to the Executive within thirty (30) days of the date of signature by him of this Agreement, and signature by EMECURRENT 932789033.3 his legal adviser of the attached certificate. Any cash payments will be made by transfer to the Executive's bank account.
Sample 1
TERMINATION SUMS. Subject to the Executive agreeing to all of the conditions set out below, the Company will pay the Executive the following sums: (i) an amount equal to the formulaic annual incentive award derived from the Company’s annual incentive award funding formula for the Executive’s role in respect of the fiscal year ending on December 31, 2014, applied in the same manner as applied to active executive employees of the Company and calculated 50% by reference to Group Return on Equity versus 2014 plan performance and 50% by reference to the average Return on Equity versus 2014 plan performance of Other Property, Property Catastrophe (including Aspen Capital Markets), Casualty Re and Specialty Re, in each case without the application of any negative discretion, such amount payable at the same time as annual incentive awards for the fiscal year ending on December 31, 2014, are paid to executives of the Company, such date to be no later than the March 15, 2015 monthly payroll date; (ii) $600,000 in respect of the Executive’s entitlement to the severance payment calculated and defined in accordance with Clauses 19.2(c)(x) and 19.3 of the Service Agreement, such amount payable by no later than the March 15, 2015 monthly payroll date; and (iii) an amount equal to the severance payment calculated and defined in accordance with Clauses 19.2(c)(y) and 19.3 of the Service Agreement, except that the three-year period used to calculate the average annual incentive award will be based on the fiscal years ending on December 31, 2012, 2013 and 2014, with the annual incentive award for the fiscal year ending on December 31, 2014, calculated in accordance with subclause (i) above, such amount payable at the same time as annual incentive awards for the fiscal year ending on December 31, 2014, are paid to executives of the Company, such date to be no later than the March 15, 2015 monthly payroll date (the amounts set forth in subclauses (i), (ii) and (iii) of this Clause 4 are collectively referred to herein as the “Severance Payments”). The sums set forth above will be subject to such deductions for income tax and national insurance as are required by law. Any cash payments will be made by transfer to the Executive’s bank account. For the avoidance of doubt, (x) the payment of the Severance Payments shall be deemed to be in full satisfaction of any and all payments and obligations due to the Executive under Clause 19 of the Service Agreement or otherwise and (y) the Executive will no...
Sample 1
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TERMINATION SUMS. Subject to the Employee agreeing to all of the conditions set out below, and receipt by the Company of a copy of this Agreement signed by the Employee and the attached certificate signed by the Employee’s legal adviser, the Company will pay the Employee the following sums: (i) £[appropriate figure to be inserted] in respect of the Employee’s entitlement to an annual incentive award for the year in which the termination of the Employee’s employment with the Company occurs, as calculated in accordance with Clause 19.2 (b) of the Service Agreement; (ii) the sum of £[appropriate figure to be inserted] in respect of the Employee’s entitlement to a Severance Payment, as calculated and defined in accordance with Clauses 19.2(c) and 19.3 of the Service Agreement; and (iii) the sum of £[appropriate figure to be inserted] in respect of the Employee’s entitlement to the unpaid balance of all previously earned cash bonus and other incentive awards with respect to performance periods which have been completed as at the Termination Date but not yet paid, as calculated in accordance with Clause 19.2(d) of the Service Agreement. The sums set out in (i) to (iii) above will be subject to such deductions for income tax and national insurance as are required by law and will be paid to the Employee within [14] days of the date of signature by him of this Agreement and signature by his legal adviser of the attached certificate. Payment will be made by transfer to the Employee’s bank account.
Sample 1
TERMINATION SUMS. Subject to the Executive agreeing to all of the conditions set out below, and receipt by the Company of a copy of this Agreement signed by the Executive and the attached certificate signed by the Executive’s legal adviser, the Company will pay the Executive the following sums: 1. £ [appropriate figure to be inserted] in respect of the Executive’s entitlement to an annual incentive award for the year in which the termination of the Executive’s employment with the Company occurs, as calculated in accordance with Clause 18.2 (b) of the Service Agreement;
Sample 1

Related to TERMINATION SUMS

  • Termination; Survival At such time as (a) all of the Commitments have been terminated, (b) all Letters of Credit have terminated, (c) none of the Lenders, the Swingline Lender nor the Issuing Lender is obligated any longer under this Agreement to make any Loans or issue Letters of Credit and (d) all Obligations (other than obligations which survive as provided in the following sentence) have been paid and satisfied in full, this Agreement shall terminate. The indemnities to which the Agent, the Lenders and the Swingline Lender are entitled under the provisions of Sections 3.12, 4.1, 4.4, 11.7, 12.2 and 12.9 and any other provision of this Agreement and the other Loan Documents, and the provisions of Section 12.4, shall continue in full force and effect and shall protect the Agent, the Lenders and the Swingline Lender (i) notwithstanding any termination of this Agreement, or of the other Loan Documents, against events arising after such termination as well as before and (ii) at all times after any such party ceases to be a party to this Agreement with respect to all matters and events existing on or prior to the date such party ceased to be a party to this Agreement.

  • Effect of Termination Survival If the Service Agreement is terminated, the Provider shall destroy all of LEA’s Student Data pursuant to Article IV, section 6.

  • Termination; Survival Following Termination (i) Either party may terminate this Agreement prior to the end of the Agency Period, by giving written notice as required by this Agreement, upon ten (10) Trading Days’ notice to the other party; provided that, (A) if the Company terminates this Agreement after the Agent confirms to the Company any sale of Shares, the Company shall remain obligated to comply with Section 3(b)(v) with respect to such Shares and (B) Section 2, Section 6, Section 7 and Section 8 shall survive termination of this Agreement. If termination shall occur prior to the Settlement Date for any sale of Shares, such sale shall nevertheless settle in accordance with the terms of this Agreement. (ii) In addition to the survival provision of Section 7(b)(i), the respective indemnities, agreements, representations, warranties and other statements of the Company, of its officers and of the Agent set forth in or made pursuant to this Agreement will remain in full force and effect, regardless of any investigation made by or on behalf of the Agent or the Company or any of its or their partners, officers or directors or any controlling person, as the case may be, and, anything herein to the contrary notwithstanding, will survive delivery of and payment for the Shares sold hereunder and any termination of this Agreement.

  • Termination Provisions In this Agreement:

  • Termination by Parent This Agreement may be terminated and the Mergers may be abandoned at any time prior to the First Effective Time by action of the Board of Directors of Parent if: (a) the Board of Directors of the Company shall have made a Company Change in Recommendation; provided, however, that Parent will not have the right to terminate this Agreement pursuant to this Section 7.04(a) if the Company Requisite Vote has been obtained; or (b) there has been a breach of any representation, warranty, covenant or agreement made by the Company in this Agreement, or any such representation and warranty shall have become untrue after the date of this Agreement, such that Sections 6.02(a) or 6.02(b) would not be satisfied and such breach or failure to be true is not curable or, if curable, is not cured following notice to the Company from Parent of such breach or failure by the earlier of (x) the 30th day following such notice and (y) the Termination Date; provided that Parent shall not have the right to terminate this Agreement pursuant to this Section 7.04(b) if Parent is then in breach of any of its representations, warranties, covenants or agreements under this Agreement in a manner such that the conditions set forth in Section 6.03(a) or Section 6.03(b) would not be satisfied (unless capable of being cured within 30 days). (c) at any time prior to the Parent Requisite Vote being obtained, (i) if the Board of Directors of Parent authorizes Parent, to the extent permitted by and subject to complying with the terms of Section 5.03, to enter into an Alternative Parent Acquisition Agreement with respect to a Parent Superior Proposal that did not result from a material breach of this Agreement, (ii) concurrently with the termination of this Agreement, Parent, subject to complying with the terms of Section 5.03, enters into an Alternative Parent Acquisition Agreement providing for a Parent Superior Proposal that did not result from a material breach of this Agreement and (iii) prior to or concurrently with such termination, Parent pays to the Company in immediately available funds any fees required to be paid pursuant to Section 7.05(c).

  • Termination of Employment by Death The Employee's Employment will terminate automatically at the time of his death. If the Employee's Employment terminates by reason of the Employee's death, the Company will pay to the Person the Employee has designated in a written notice delivered to the Company as his beneficiary entitled to that payment, if any, or to the Employee's estate, as applicable, in a cash lump sum within 30 days after the Termination Date, the amount equal to the sum of (i) the portion of the Base Salary through the end of the month in which the Termination Date occurs which has not yet been paid, (ii) all compensation the Employee has previously deferred (together with any accrued interest or earnings thereon) which has not yet been paid, (iii) any accrued but unpaid vacation pay (if the Employee dies while on Active Status) and (iv) (A) if the Employee dies while on Active Status or during the Part-time Employment Period (other than during the last 12 months of the Part-time Employment Period), an amount equal to the Base Salary being paid for the Compensation Year in which he dies or (B) if the Employee dies during the last 12 months of the Part-time Employment Period, the product of (1) one-twelfth of the Base Salary being paid for the Compensation Year in which the Employee dies multiplied by (2) the number of whole and partial calendar months in the period beginning with the first calendar month after the calendar month in which he dies and ending with the last calendar month in which the Termination Date would have occurred if the Employee's Employment were to have continued to the end of the Part-time Employment Period. For purposes of this Section 5(d), if the anniversary of the Effective Date in the Compensation Year in which the Employee dies has not occurred on or before the Termination Date, the Base Salary for that Compensation Year will be calculated on the assumption that no increase in the amount thereof would be made effective as of that anniversary pursuant to Section 4(a) or 5(e)(i), as applicable.

  • Survival Upon Termination If this Agreement is terminated pursuant to this Article 11, such termination will be without any further liability or obligation of any party hereto, except as provided in Section 6.4, Section 7.3, Section 7.7, Article 10, Section 11.5 and Section 11.6.

  • Termination by Us We may terminate this Contract with 30 days’ written notice as follows: 1. For Non-payment of Premiums. Premiums are to be paid by the Subscriber to Us on each Premium due date. While each Premium is due by the due date, there is a grace period for each Premium payment. If the Premium payment is not received by the end of the grace period, coverage will terminate as follows: • If the Subscriber fails to pay the required Premium within a 30-day grace period, this Contract will terminate retroactively back to the last day Premiums were paid. The Subscriber will be responsible for paying any claims submitted during the grace period if this Contract terminates. 2. Fraud or Intentional Misrepresentation of Material Fact. If the Subscriber has performed an act that constitutes fraud or made an intentional misrepresentation of material fact in writing on his or her enrollment application, or in order to obtain coverage for a service, this Contract will terminate immediately upon a written notice to the Subscriber from Us. If termination is a result of the Subscriber’s action, coverage will terminate for the Subscriber and any Dependents. If termination is a result of the Dependent’s action, coverage will terminate for the Dependent. 3. If the Subscriber no longer lives, or resides in Our Service Area.

  • Term; Termination; Survival of Provisions The term of this Agreement shall commence on the date hereof and shall continue, unless earlier terminated pursuant to the provisions of this section, for twelve (12) months, automatically renewed thereafter for monthly periods unless either Party informs the other in writing thirty (30) days prior to the end of the current term of its intent to terminate this Agreement. This Agreement may be terminated prior to the end of the current term, by mutual written consent of the Parties hereto, or: a. by any Party, upon thirty (30) days’ prior written notice; and b. by either Co-Manager (with respect to such Co-Manager, but not to the other Co-Manager) in the event that Client fails to pay any amount due hereunder within thirty (30) days of that due date or otherwise breaches its obligations to such Co-Manager. Termination of this Agreement will not affect either Co-Manager’s right to receive continuing compensation with respect to investments made prior to such termination. It is understood and agreed that the provisions of this Agreement relating to the payment of fees and expenses, confidentiality, and indemnification shall survive any termination of this Agreement.

  • DETERMINATION OF BREACH AND TERMINATION OF AGREEMENT A. Prior to making a determination that the Applicant has failed to comply in any material respect with the terms of this Agreement or to meet any material obligation under this Agreement, the District shall provide the Applicant with a written notice of the facts which it believes have caused the breach of this Agreement, and if cure is possible, the cure proposed by the District. After receipt of the notice, the Applicant shall be given ninety (90) days to present any facts or arguments to the Board of Trustees showing that it is not in breach of its obligations under this Agreement, or that it has cured or undertaken to cure any such breach. B. If the Board of Trustees is not satisfied with such response or that such breach has been cured, then the Board of Trustees shall, after reasonable notice to the Applicant, conduct a hearing called and held for the purpose of determining whether such breach has occurred and, if so, whether such breach has been cured. At any such hearing, the Applicant shall have the opportunity, together with their counsel, to be heard before the Board of Trustees. At the hearing, the Board of Trustees shall make findings as to: i. whether or not a breach of this Agreement has occurred; ii. whether or not such breach is a Material Breach; iii. the date such breach occurred, if any;

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