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 two weeks of transition pay for every year of continuous service or major fraction thereof up to twenty-six (26) weeks. Transition pay will be paid on a bi-weekly basis on our regular pay cycle.
Transition Pay. The Company will continue to pay Mr. Xxxxxxxx xxx regular salary through September 30, 2022 (at the same rate as in effect on the date of execution of this Agreement), irrespective of whether the Board accelerates the termination of Mr. Xxxxxxxx’x xxxloyment to a date prior to September 30, 2022.
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. You understand and acknowledge that you are not entitled to separation pay pursuant to Company policy, by contract, or otherwise unless you execute this Agreement on or after the Separation Date. In exchange for your performance of Transition Duties during the Transition Period, execution of this Agreement, and release of claims and other promises in this Agreement, the Company will make a lump sum payment to you in the gross amount of $77,884.62, less all applicable payroll deductions and withholdings (“ TransitionPay”). This amount is intended to represent 9 weeks of your base pay at the end of your employment. If you choose to sign this Agreement, this Transition Pay, less required payroll deductions and withholdings, will be paid to you via direct deposit on the Company’s next regularly scheduled pay day following the Effective Date of this Agreement (as defined in Paragraph 9).
Transition Pay. The Company agrees to retain you as an employee during the Transition Period, which it is not otherwise required to do, during which time you will continue to receive your current gross base salary less applicable taxes and benefits, as set forth in Section 1 above and you will continue to vest in stock options. As noted in Section 1, you will not be eligible for or entitled to any bonus payments during the Transition Period or as a result of your employment during the Transition Period.
Transition Pay. In exchange for this signed Agreement, the Company will pay you 6 weeks of regular base pay as transition pay in a lump sum less required deductions. You will receive your transition pay on June 23, 2006, or the first regularly scheduled payday following the 7-day revocation period, whichever is later. Transition pay is not eligible for 401(k) contributions.
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.
