Continued Compensation definition

Continued Compensation means a Payment paid or payable pursuant to Section 6(d) (calculated as if there were no reduction of Continued Compensation according to this Section 6(g));
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Continued Compensation means the product of three times the sum of (i) the amount of Executive’s Annual Base Salary (at the rate of Annual Base Salary in effect immediately before Executive’s termination of employment or, if earlier, the occurrence of any event that could have been a Good Reason event), plus (ii) the average annual cash bonuses or other cash incentive compensation Cash America paid or made payable to Executive under Section 4(b) for the 3 calendar years immediately preceding the year in which Executive’s employment terminates. Notwithstanding the foregoing, Cash America’s obligation to pay the amounts described in subsections (A) and (B) hereof is expressly conditioned on both (i) Executive’s compliance, and continuing compliance, with the terms of the restrictive covenants set forth in Sections 7, 8, 9, and 10, and (ii) Executive entering into, and not revoking (and the expiration of any time period during which revocation is permitted), on or before the date on which any such payment is to be made, a release in favor of Cash America and its affiliates, in such form and terms as Cash America may reasonably determine.
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Continued Compensation means an amount equal ---------------------- to the Executive's annual base salary that would have been payable during the remainder of the Employment Period following Executive's termination (i) absent Executive's termination of employment and (ii) disregarding any reductions in such annual base salary during the Employment Period. Continued Compensation shall be paid in equal monthly installments during the remainder of the Employment Period following Executive's termination. Continued Compensation payments to Executive shall commence on the later of the fifteenth business day after Executive's employment termination or the first day of the month following his employment termination. At the Company's sole discretion, however, Continued Compensation payments may be commenced on an earlier date or paid in accordance with the Company's normal payroll practice relating to executives. The Company may also elect to make a lump sum payment to Executive equal to the present value of all monthly installments of Continued Compensation due to Executive, on the later of the fifteenth business day after Executive's employment termination or the first day of the month following his employment termination (or such later time as mutually agreed upon by the Company and Executive). For purposes of the preceding sentence, a discount rate equal to 120 percent of the applicable Federal rate (determined under Section 1274(d) of the Internal Revenue Code of 1986, as amended) (the "Code") compounded semiannually shall be used to calculate present value.
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Examples of Continued Compensation in a sentence

  • Payments under this Section are not Continued Compensation and are not subject to reduction under any other Section of this Agreement.

  • Subject to the conditions of Section 7(c), Executive is entitled to receive Continued Compensation if Executive's employment is terminated by the Company without cause ("cause" being limited to Executive's acts of theft, embezzlement, fraud, or moral turpitude involving or negatively affecting the Company).

  • If Executive's employment is terminated because Executive is Disabled, Executive will not receive any Continued Compensation under Section 6 but is entitled, after the Disability Effective Date, to receive disability and other benefits on a basis comparable to those provided by the Company to disabled employees and their families in accordance with such plans, programs, and policies relating to Executive's disability, if any, as in effect on the Effective Date or as amended thereafter.

  • Continued Compensation payments to Executive shall commence on the first day of the month following Executive's termination of employment with the Company because of an event described in Section 6(b) or 6(c) and shall continue on the first day of each month thereafter until paid in full, subject to receipt by the Company of notification from the Accounting Firm (defined below) of its determination regarding the reduction, if any, of Continued Compensation according to Section 6(g).

  • Executive is entitled to receive Continued Compensation according to the remaining provisions of this Section 6 if Executive's employment with the Company terminates because of an event described in Section 6(b) or 6(c).

  • If Executive's employment terminates and an event described in Section 6(b) or 6(c) has not occurred, Executive is not entitled to any Continued Compensation under this Section 6.

  • If Executive's employment is terminated because the Executive dies, Executive will not receive any Continued Compensation under Section 6 but is entitled, after the date of death, to receive death and other benefits on a basis comparable to those provided by the Company to deceased employees and their families in accordance with such plans, programs, and policies relating to Executive's death, if any, as in effect on the Effective Date or as amended thereafter.

  • Executive will be entitled to receive Continued Compensation on account of his voluntary termination under this Section 6(c) only if such voluntary termination occurs within six months after an event described in (i), (ii), (iii), or (iv) above, or within six months after the last in a series of such events.

  • If Executive's employment terminates before a Control Change Date or after the Employment Period because of an event described in Section 6(b) or 6(c), subject to the conditions of Section 7(c), Continued Compensation equal to Executive's Base Period Income (calculated in accordance with Section 6(e)) shall be paid in twelve equal monthly installments.

  • Executive further agrees that during the period in which Executive is entitled to Continued Compensation under Section 6, he shall not actively induce any Company employee to terminate employment with the Company in favor of promised or prospective employment with or on behalf of Executive or Executive's post-termination employer.

Related to Continued Compensation

  • Accrued Compensation means an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay and (iv) bonuses and incentive compensation (other than the "Pro Rata Bonus" (as hereinafter defined)).

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Annual Compensation means an amount equal to the greater of:

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

  • Accrued Professional Compensation means, at any given moment, all accrued, contingent and/or unpaid fees and expenses (including, without limitation, success fees) for legal, financial advisory, accounting and other services and reimbursement of expenses that are awardable and allowable under section 328, 330(a) or 331 of the Bankruptcy Code and were rendered before the Effective Date by any Retained Professional in the Chapter 11 Cases, or that are awardable and allowable under section 503 of the Bankruptcy Code, that have not been denied by a Final Order, all to the extent that any such fees and expenses have not been previously paid (regardless of whether a fee application has been filed for any such amount). To the extent that the Bankruptcy Court or any higher court denies or reduces by a Final Order any amount of a Retained Professional’s fees or expenses, then those reduced or denied amounts shall no longer constitute Accrued Professional Compensation.

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one day prior to the Change in Control, and (ii) the Average Incentive Bonus.

  • 414(s) Compensation means any definition of compensation that satisfies the nondiscrimination requirements of Code Section 414(s) and the Regulations thereunder. The period for determining 414(s) Compensation must be either the Plan Year or the calendar year ending with or within the Plan Year. An Employer may further limit the period taken into account to that part of the Plan Year or calendar year in which an Employee was a Participant in the component of the Plan being tested. The period used to determine 414(s) Compensation must be applied uniformly to all Participants for the Plan Year.

  • Special compensation means payment to an adult foster care facility to ensure the provision of a specialized program in addition to the basic payment for adult foster care. Special compensation does not include payment received directly from the Medicaid program for personal care services for a resident, or payment received under the supplemental security income program.

  • Additional Compensation has the meaning set out in Section 11.3(1).

  • Basic Compensation means Salary and Benefits.

  • Covered Compensation means any Incentive-Based Compensation granted, vested or paid to a person who served as an Executive Officer at any time during the performance period for the Incentive-Based Compensation and that was Received (i) on or after October 2, 2023 (the effective date of the Nasdaq listing standards), (ii) after the person became an Executive Officer, and (iii) at a time that the Company had a class of securities listed on a national securities exchange or a national securities association such as Nasdaq.

  • Salary as defined in Section 3.1(a).

  • Compensation Accrued at Termination means the following:

  • Current Compensation means all regular wage, salary and commission payments paid by the Company to a Participant in accordance with the terms of his or her employment, but excluding annual bonus payments and all other forms of special compensation.

  • Final compensation of a member means:

  • Compensation and Benefits Programs means all compensation and benefit plans, policies, and programs of the Debtors, and all amendments and modifications thereto, applicable to the Debtors’ employees, former employees, retirees, and non-employee directors and the employees, former employees and retirees of their subsidiaries, including all savings plans, retirement plans, health care plans, disability plans, and incentive plans, deferred compensation plans, and life, accidental death, and dismemberment insurance plans.

  • Cash Compensation means any discount, concession, fee, service fee, commission, sales charge, loan, override, or cash benefit received by a producer in connection with the recommendation or sale of an annuity from an insurer, intermediary, or directly from the consumer.

  • Compensation Period has the meaning specified in Section 2.12(c)(ii).

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • Total Compensation means the cash and noncash dollar value earned by the executive during the Contractor’s preceding fiscal year and includes the following (for more information see 17 CFR 229.402(c)(2)):

  • Compensation and Benefit Plans has the meaning set forth in Section 5.03(m).

  • Base Salary shall have the meaning set forth in Section 3(a) hereof.

  • Annual Salary means the salary given under this Part.