Executive Payment definition
Executive Payment as used herein shall mean the sum of all annual salary, Bonuses and other benefits owing to Employee (as determined in accordance with Section 280G(d)(4) of the Code) for the period from Employee's date of termination hereunder through the remainder of the Initial Term of this Agreement, as may be extended. In the event the period from the date of Employee's termination hereunder through the remainder of the Initial Term of this Agreement, as may be extended, is less than twelve (12) months, then the Employee shall receive three times the "Executive Payment" computed as follows:
Executive Payment means, except as listed on Schedule 8.18(ppp), any bonus, change of control, or deferred compensation payment or other amount (including all withholding and other payroll Taxes required to be paid by the employee or any Company) due and payable to any employee of any Company by any Company, Buyer or any Seller as a result of the acquisition of the Equity Interests, whether payable prior to, on or after the Closing, including, without limitation, the Final 2016 Incentive Compensation Amount.
Executive Payment means with respect to any Executive, (i) an amount equal to 200% of such Executive’s Base Compensation for 2004 plus (ii) such Executive’s Additional Compensation plus (iii) an amount equal to 150% of the amount of the Bonus actually paid to such Executive in 2004 in respect of the Company’s 2003 fiscal year (provided, however, that for any Executive who began employment with the Company during 2004, (x) the amount in clause (i) above shall include an amount equal to the Company’s annualized Board approved 2004 401(k) contribution, (y) the amount in clause (iii) above shall be 150% of the target annual Bonus set forth in such Executive’s offer letter and (z) Section 3(d) of the Plan shall not apply to reduce any Executive Payment payable to any Executive of the Company).”
Examples of Executive Payment in a sentence
The aggregate amount of any payments that would otherwise have been made during such six-month period will be paid in a lump sum on the Specified Executive Payment Date without interest and, thereafter, any remaining payments will be paid without delay in accordance with their original schedule.
The aggregate of any payments that would otherwise have been paid before the Specified Executive Payment Date, and interest on such amounts, calculated based on the applicable federal rate published by the Internal Revenue Service for the month in which the Executive’s separation from service occurs, shall be paid to the Executive in a lump sum on the Specified Executive Payment Date, and, thereafter, any remaining payments shall be paid without delay, in accordance with their original schedule.
Upon becoming effective on the Start Date (and after payment of the Executive Payment (as defined in the Letter Agreement)), this Agreement shall supersede any other employment or severance agreement or arrangements or similar rights you may have with the Company, Respironics or any of their affiliates (and you shall not be eligible for severance benefits under any other plan, program or policy of the Company).
Such procedures shall include: (i) a list of proposed trades packages; (ii) a list of trade subcontractors that will be invited to bid on each such package; and (iii) a narrative description of the process.
The Executive Payment shall not be reduced by any present value calculations.
More Definitions of Executive Payment
Executive Payment means any bonus, change of control payment or other amount (including all withholding and other payroll Taxes payable by the employee or a Company) fully earned by, and due and payable to, any employee by any Company (or Affiliate thereof) or Purchaser (i) at or prior to the Closing or (ii) solely by reason of the consummation of the transactions contemplated by this Agreement (but specifically excluding any double trigger change in control payments where the second trigger is the termination of employment after the Closing Date), including any retention or other amount (including all withholding and other payroll Taxes payable by the employee or a Company) fully earned by, and due and payable to, any employee by any Company or Purchaser under the Special Incentive Award Program for Selected Employees of U.S. Pipe.
Executive Payment means any bonus, change of control, or deferred compensation payment or other amount (including all withholding and other payroll Taxes required to be paid by the employee or the Company) due and payable to any employee of the Company by the Company, Buyer or the Shareholders subject to the occurrence of, and upon, the consummation of the transactions contemplated by this Agreement. (kkk) “Facilities” has the meaning set forth in the recitals of this Agreement. (lll) “Final Allocation Schedule” has the meaning set forth in Section 5.2(e)(iii). (mmm) “Final Closing Balance Sheet” has the meaning set forth in Section 2.4(g). (nnn) “Final Closing Cash” has the meaning set forth in Section 2.2(c). (ooo) “Final Closing Net Working Capital” means the Net Working Capital as reflected on the Final Closing Balance Sheet. (ppp) “Final First Year Earn-Out Payment” has the meaning set forth in Section 2.2(d).
Executive Payment means with respect to any Executive, (i) an amount equal to 200% of such Executive’s Base Compensation for the year in which the Executive Payment is to be made plus (ii) such Executive’s Additional Compensation plus (iii) an amount equal to 150% of the greater of such Executive’s most recent annual Bonus (including Bonus payments made by the Company or its predecessors and whether or not paid at the time of the Change in Control) or the Projected Annual Bonus for the calendar year in which the Change in Control occurs.
Executive Payment with respect to any Executive means, an amount equal to (i) an amount equal to such Executive's Base Salary for the year in which the Executive Payment is to be made plus (ii) an amount equal to one-half of such Executive's aggregate Bonuses for each of the two years prior thereto.
Executive Payment means any bonus, change of control payment or other amount (including all withholding and other payroll Taxes payable by the Executive or the Company) due and payable to any Executive by the Company, Buyer or Seller upon the consummation of the transactions contemplated by this Agreement.
Executive Payment has the meaning set forth in Section 5.5.
Executive Payment means any bonus, change of control, severance, termination or other analogous payment due and payable by any of the Companies to any officer, director or employee of any of the Companies or any other Person upon (and as a direct or indirect result of) the consummation of the transactions contemplated by this Agreement (other than the Option Cancellation Payments and any payments or benefits (i) payable as a result of Purchaser offering, or Purchaser causing any of the Companies to offer, any such payment or benefit to any officer, director or employee of any the Companies or (ii) potentially payable following the Closing pursuant to an agreement disclosed to Purchaser that would be triggered by a termination of employment or engagement of any officer, director or employee of any of the Companies on or following the Closing); provided, however, that Executive Payment shall not include any payment or obligation that has been paid or satisfied prior to the Closing.