Transition Pay. If a surplus employee in a higher wage band accepts a Leveraged Title position as a Guaranteed Job Offer, that employee shall receive Transition Pay. Transition Pay will be computed based on base wages and 100% of Target Incentive. The duration of Transition Pay will be based on the surplus employee’s completed years of net credited service as identified in the Layoff Table.
Transition Pay. The Company will pay the Executive a transition payment in the aggregate amount of $882,771.44 (“Transition Payment”), minus lawful taxes and withholdings, payable in one lump sum payment within 30 days following the Separation Date on the Company’s first payroll date following the date this Agreement is irrevocable.
Transition Pay. FFUSA will pay the Executive a transition payment in the aggregate amount of $32,500.00 (“Transition Payment”), minus lawful taxes and withholdings, payable in equal installments on June 15, 2023 and June 30, 2023.
Transition Pay. (a) If an employee accepts a non-comparable position, in exchange for a signed joint waiver and release, the employee will be eligible to receive transition pay. This weekly transition pay shall equal 50% of the difference between their weekly base pay in their new position and their former position. The number of weeks of transition pay shall be
(b) A comparable position is defined as a position for which the number of working hours and base pay are within (80) eighty percent of the eligible employee’s current working hours and base pay and (b) the location is within fifty (50) miles from the location of the former position.
Transition Pay. (a) As provided in your Amended and Restated Employment Agreement dated June 1, 2015 (“Employment Agreement”), subject to your execution of this Agreement, the Company will provide you with a special lump sum transition payment in the gross amount of $375,000 (the “Separation Payment”). This payment is an amount equal to 100% of your current base salary.
(b) As also provided in the Employment Agreement, subject to your execution of this Agreement, the Company will provide you with a lump sum payment in the gross amount of $47,260.27 (the “Bonus Payment”). This payment is an amount equal to your 2018 target bonus amount, prorated based upon your number of days worked in 2018. 1 Except for the obligations set forth in paragraphs 2 and 3, which shall be solely the obligations of ZIOPHARM Oncology, Inc., whenever the terms “ZIOPHARM Oncology, Inc.,” or the “Company” are used in this Agreement (including, without limitation, paragraph 9), they shall be deemed to include ZIOPHARM Oncology, Inc. and any and all of its parents, predecessors, divisions, affiliates and subsidiaries and all related entities, and its and their past and present directors, officers, employees, agents, shareholders, trustees, members, fiduciaries, successors and assigns.
(c) The Company reserves the right to withhold from any payments (including but not limited to the Separation Payment and Bonus Payment) to you all sums that it is required or allowed to withhold pursuant to applicable tax withholding laws or regulations. You shall remain solely responsible for any and all income or other taxes due by you or assessed against you on payments made to you.
(d) Any amounts you owe to the Company, such as outstanding personal advances, loans, vacation time advances, expenses or any other amount shall be deducted from any payments made to you.
(e) The amounts payable to you under this paragraph 2 will be made within 90 days after the Separation Date (the “Payment Commencement Date”); provided that (1) the Company timely receives your executed Agreement, (2) you do not revoke the release during the Revocation Period described in paragraph 10, and you have returned all Company property described in paragraph 4 by such date. Failure to meet each of these conditions by the Payment Commencement Date will result in forfeiture of the amounts otherwise payable to you under this paragraph 2.
Transition Pay. 36.01 An employee who is transferred from their posted job due to Job Elimination or Combining of Jobs will receive transition pay as follows: • For the first sixty (60) days following the transfer from the job, the employee will receive the next lower level of pay provided it is not Level 2 to Level 1. In that case, the employee would continue to receive Level 2 for the sixty (60) day transition period.
Transition Pay. During the Transition Assistance Period, the Company will continue to pay you your base salary at a bi-weekly rate of $14,031.29, in accordance with the Company’s regular payroll practices, less applicable withholdings and deductions, and will continue your employee benefits as a full-time employee. On the Termination Date, the Company will pay to you the balance of all accrued salary payments and any accrued but unused vacation as of that date. You acknowledge that the Company has paid you for all salary then due to you for the payroll dates preceding the date of this letter and that as of the date of this letter, you have an accrued and unused balance of 26.03 hours of vacation time. You are also eligible for reimbursement of reasonable travel and other business expenses incurred during the Transition Assistance Period prior to the Termination Date. All expense reimbursement will be subject to substantiation and documentation in accordance with Company policy. For your part, you will continue during the Transition Assistance Period to perform your duties in a professional, competent, and conscientious manner and you will continue to comply with all applicable Company policies and practices and to comply with all directives that you receive. Should you fail to do so, the Company reserves the right to accelerate the Termination Date without prejudice to any other term of this Agreement. You agree that during the Transition Assistance Period you will provide transitional assistance and perform other work services as required of you by your supervisor(s) and/or your replacement. You agree that you will perform services for the Company either from the Company’s offices or from your personal residence, as determined by the Company.
Transition Pay. During the Transition Assistance Period, the Company will continue to pay you your base salary at a rate of $13,076.93 per bi-weekly pay period, less applicable withholdings and deductions, and will continue your employee benefits as a full-time employee. On November 7, 2014, the Company will pay to you the balance of any accrued but unused vacation as of that date. You acknowledge that the Company has paid you for all salary then due to you for the payroll dates preceding the date of this letter and that as of the date of this letter, you have an accrued and unused balance of 80.20 hours of vacation time. For your part, you will continue during the Transition Assistance Period to perform your duties in a professional and competent manner and you will continue to comply with all applicable Company policies and practices and to comply with all directives that you receive. You agree that during the Transition Assistance Period you will provide transitional assistance as required of you by the Company’s Chief Executive Officer and your replacement. You agree that you will perform services for the Company either from the Company’s offices or from your personal residence, as determined by the Company. Xxxx X. Xxxxxx Xx., Ph.D. October 28, 2014
Transition Pay. During the Transition Period described above, you will continue to be paid your current base salary amount, minus required withholding for taxes and deductions (“Transition Pay”).
Transition Pay. Except for life and disability (short-term and long-term coverage) which terminated as of February 2, 2016, Employee will be entitled to full salary and benefit participation until the Transition Start Date subject to the terms of any benefit plan. From and after the Transition Start Date and during the remainder of the Term (as defined in 3.1), for performance of the Transition Services, the Company shall pay Employee up to $120,000 (the “Transition Pay”), in the amount of $20,000 per month. 16132775.1
