Transition Payment. If Executive becomes disabled, as defined in Subsection 6(a) above, Executive’s employment will terminate and the Company will pay Executive, as transition pay and in lieu of the Severance Benefit, a lump sum payment equal to four (4) months of Executive’s Base Salary as of the Termination Date (the “Transition Payment”). The Transition Payment is subject to the limitations in Subsections 7(c)(3)(A), 7(c)(3)(D), and 7(c)(3)(E) above.
Transition Payment. The social plan is an equivalent provision as referred to in law (Section 673b of Book 7 of the Dutch Civil Code). Therefore, redundant employees to whom the social plan applies and whose employment is terminated otherwise than by mutual consent are not entitled to the statutory transition payment.
Transition Payment. U.S. Transferred Employees who are at least * and have at least * of credited service under the GRP, both as of the Employment Date, or who have at least * of credited service under the GRP as of the Employment Date, shall be eligible to receive * payable on * provided that such U.S. Transferred Employee
(i) continues to be employed by Vastera as of July 31, 2004 unless such Transferred Employee was involuntarily separated by Vastera other than a discharge; and
(ii) has not commenced a retirement benefit under the GRP. Vastera and Ford shall work cooperatively and use reasonable efforts to determine whether the * to eligible U.S. Transferred Employees, consistent with applicable law. In the event a method is agreed by the Parties, Vastera shall take the steps required to implement any such method prior to the date *. Ford shall reimburse Vastera * within thirty days after receiving an invoice from Vastera.
Transition Payment. ▪ Did the employer invest in improving the employee's labour market position during the term of the employment contract, such as by paying for retraining to another job? In that case, the employer can deduct the investment from the transition payment. It may only do so if the conditions of the Transition Payment Cost Deduction (Conditions) Decree are met. ▪ The employer may not deduct the amount it has paid for the employee's individual budget from the transition payment.
Transition Payment. If Resident’s Level of Training is PGY-1, Resident shall be eligible for a one-time transition payment to assist new PGY-1 resident physicians with the transition into their graduate medical education. The amount of this transition payment is a one-time payment of Five Thousand and 00/100 Dollars ($5,000.00), less applicable deductions and withholdings.
Transition Payment. In consideration of your efforts in preparing for a transition into the role of Interim Chief Executive Officer, you shall also receive the equivalent of one month’s Base Salary on the first regular payroll date after the Start Date.
Transition Payment. If, for any reason, execution of this Agreement follows the Effective Date, the Port shall invoice the Airline and the Airline shall pay within thirty (30) calendar days following receipt of said invoice, a one (1) time billing adjustment for the period between the Effective Date and the execution date of this Agreement. Such invoice shall be based upon the activity of the Airline during said period, the space actually occupied by the Airline, and the rentals, fees, and charges established in this Agreement.
Transition Payment. Employee shall be entitled to receive a ------------------ transition payment (the "Transition Payment") in the amount of $300,000, payable in a lump-sum, less all legally required tax withholdings and deductions, on the earlier of: (i) thirty (30) days following the consummation of a Change of Control; (ii) the date of any salary continuation payments made to either the Company's Chief Executive Officer (Xxxxx Xxxxxx) or its General Counsel (Xxxxxx Xxxxxxx) following a termination of the CEO's or General Counsel's respective Employment Agreements for a "Good Reason" or by the Company for any reason other than "Good Cause" (as defined in those Employment Agreements), if Employee remains employed by the Company on that date; or (iii) the date the Company terminates this Agreement for reasons other than Good Cause or the date on which the Employee leaves for a Good Reason, as defined in the Agreement." The Transition Payment shall be reduced by the amount of any Change of Control payment received by Employee pursuant to Paragraph 9(b) of this Agreement.
7. The Employment Agreement, as amended, is further amended to include a new Paragraph as follows: "Notwithstanding the foregoing, to the extent Employee receives or has received the Transition Payment, the amount of the payment in Paragraph 5(d) and/or Paragraph 9(b)(i) shall be reduced by the gross amount of the Transition Payment paid, as applicable. In this connection, the differential amount due to Employee under Paragraph 9(b)(i) when deducting the Transition Payment shall be due and payable on earlier of: (i) a Good Reason event; (ii) termination of Employee without Cause; or (iii) the date that either of the Company's Chief Executive Officer (Xxxxx Xxxxxx) or its General Counsel (Xxxxxx Xxxxxxx) receive payments under Section 9(b)(i) of their respective employment agreements with the Company. Notwithstanding the preceding sentence, in the event a Good Reason event shall have occurred following execution of this Second Amendment to the Employment Agreement or a Change of Control event shall have occurred following payment of the Transition Payment, and in each event this Agreement and employment of Employee shall have been terminated, Employee shall be entitled to the base salary payable to Employee for the remaining term of the Agreement, plus the pro rata portion (based on the number of months served in the performance period) of any performance payment which Employee shall have earned in accordance ...
Transition Payment. Following your commencement of employment with the Company on September 16, 2019 (your “Start Date”), the Company made a one-time additional payment to you of $65,000 (the “Transition Payment”), less required deductions for federal and state taxes and other required withholdings. If, prior to the second anniversary of your Start Date, you voluntarily terminate your employment and such voluntary termination does not qualify as a Resignation for Good Reason (as defined below) or your employment is terminated by the Company for Cause (as defined below), you shall repay the Transition Payment in full within sixty (60) days following the date your employment terminates.
Transition Payment. Forthwith upon the Trigger Date, the MSV Parties shall be obligated to pay Inmarsat the aggregate sum of $250,000,000 (the “Phase 1 Compensation”) as an agreed payment to compensate Inmarsat for the direct and indirect costs expected to be borne by Inmarsat in implementing Phase 1 Transition in accordance with the provisions of this Agreement. The Phase 1 Compensation will be paid to Inmarsat in same day, freely transferable United States dollar funds to a bank account specified to the MSV Parties by Inmarsat not less than fourteen days prior to the first installment date, in quarterly installments, the first installment to be in the amount of $50,000,000 (the “First Installment”) payable on the Trigger Date as a condition precedent to the giving of the Phase 1 Notice and each subsequent installment to be in the amount of: (A) in the case of a Phase 1 Election, $25,000,000 every three months thereafter, until the final quarterly installment is paid to Inmarsat twenty-four months from the Trigger Date, provided always that in the event that that the MSV Parties shall serve an Acceleration Notice on Inmarsat in accordance with Section 3.2(b)(ii), the aggregate installments payable shall be $200,000,000 (reflecting the Acceleration Payment under Section 4.3(a) above), the First Installment shall remain $50,000,000, but the eight subsequent installments shall be $18,750,000 each instead of $25,000,000; and (B) in the case of a Phase 1A Election, $40,000,000 every three months thereafter until the final installment is paid to Inmarsat fifteen months from the Trigger Date provided that in the event that Inmarsat shall certify in writing to the MSV Parties that it has completed Phase 1 Transition prior to the planned 18-month period (but not earlier than 12 months) following the Trigger Date, the MSV Parties shall forthwith pay the remaining installments to Inmarsat, and Inmarsat shall use all reasonable efforts to inform the MSV Parties of the likelihood of such early completion at least three months ahead of such completion.
