Treatment of Compensation. You will receive the following compensation and benefit treatment:
Treatment of Compensation. For the avoidance of doubt, to the extent any employee compensation (including in the form of equity or any equity-like instrument) is issued by the Parent Group or the Chewy Group, as the case may be, the Parent Group or the Chewy Group, as the case may be, shall be entitled to include any allowable deduction with respect to such employee compensation, without regard to whether the applicable employee is employed by the Parent Group or the Chewy Group; provided, however, that if the Parent Group or the Chewy Group, as the case may be, compensates the Chewy Group or the Parent Group, as the case may be, for the issuance of such employee compensation, then the Parent Group or the Chewy Group, as the case may be, shall be entitled to such deduction.
Treatment of Compensation. If the employment of Employee hereunder terminates with or without Cause under Sections 16(a) or (b) hereof, then from and after the date of termination of employment, Employee shall be entitled to receive no further salary or other compensation from Employer; except that, if Employee is terminated without cause under Section 16(b) above, he shall be entitled to receive payment for any compensation, including bonuses, earned and accrued through his termination date and, if such termination without cause is effected under Section 16(b)(2) above, Employee shall also receive, as his sole remedy under this Agreement, the following severance payments: (i) if termination occurs within the first year of this Agreement, Employee shall receive three months base salary; (ii) if termination occurs during the second year of this Agreement, Employee shall receive two months base salary; (iii) if termination occurs during the third year of this Agreement, Employee shall receive one months base salary. With respect to a termination by resignation under Section 16(c) above, Employer may elect to pay compensation accruing during the notice period, or any portion thereof rather than continuing Employee's employment during such period or portion thereof. Notwithstanding any other provision of this Agreement, Employee shall be not be entitled to any other compensation with respect to termination not specifically provided for in this Section 16(d). Notwithstanding any other provision of this Agreement, Employee shall be entitled to receive the compensation specified herein for so long as the deferred purchase price promissory note specified in that certain Stock Purchase Agreement between Xxx and Xxxxx XxXxx and AIMS Worldwide, Inc. dated July 10, 2006 is unpaid but not beyond the due date for such promissory note. In addition, in the event Employee is terminated after payment of said promissory note Employee shall be entitled to receive severance pay as follows: 2007 – 3 months base salary; 2008 – 2 months base salary; 2009 -1 months base salary.
Treatment of Compensation. For financial and income tax reporting purposes, any and all compensation paid by the Company to any Member for performing services on behalf of the Company shall be treated as an expense of the Company and as a guaranteed payment within the meaning of Section 707(c) of the Code. To the extent any accrued portion of any such compensation is not paid in full prior to the liquidation of the Company, such unpaid portion of such compensation shall constitute a debt of the Company payable upon such liquidation.
Treatment of Compensation. All amounts owing for compensation and benefits, including a proportionate part (determined in accordance with GAAP) of all bonuses, are accrued on a monthly basis on the books of Xxxxxxx.
Treatment of Compensation. In exchange for your service obligations described above, you will receive the following compensation and benefit treatment:
Treatment of Compensation. Borrower hereby assigns to Lender, as security for all obligations to Lender secured by a lien on the Project, all amounts payable to Borrower in connection with any Condemnation, and any proceeds of any related settlement (collectively, “Compensation”). Borrower shall deliver all Compensation to Lender immediately upon receipt. In the event that Lender chooses, in its absolute discretion, to waive the Event of Default described in Section 15.1(g), any Compensation received by Lender shall be (i) disbursed to Borrower for repairs and reconstruction in accordance with the rights, procedures and other provisions set forth in this Agreement for the application of casualty insurance proceeds (including, without limitation, requirements with respect to Borrower’s deposit of Shortfall Funds) and/or (ii) applied by Lender against obligations to Lender secured by a lien on the Project in such order as Lender shall determine in its absolute discretion.
Treatment of Compensation. Borrower hereby assigns to Lender and Bondowner Representative, as security for all obligations to Lender and Bondowner Representative secured by a lien on the Property, all amounts payable to Borrower in connection with any Condemnation, and any proceeds of any related settlement (collectively, “Compensation”). Borrower shall deliver all Compensation to Bondowner Representative immediately upon receipt. In the event that Bondowner Representative chooses, in its absolute discretion, to waive the Event of Default described in Section 12.1(f), any Compensation received shall be (i) disbursed to Borrower for repairs and reconstruction in accordance with the rights, procedures and other provisions set forth in this Agreement for the application of casualty insurance proceeds (including, without limitation, requirements with respect to Borrower’s deposit of Shortfall Funds) and/or (ii) applied against obligations to Lender and Bondowner Representative secured by a lien on the Property in such order as Bondowner Representative shall determine in its absolute discretion.
