Notice Payments definition

Notice Payments means: (a) all payments and/or benefits paid and/or provided to you during any period of notice of termination of employment (whether notice is served by you or by the Company); and (b) all payments in lieu of notice of termination of employment paid to you by the Company. Any Severance Payments which are paid to you under this Agreement shall offset, be credited towards and reduce the amount of any Notice Payments that may be due to you under this Agreement or under English law.
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Notice Payments means: (a) all salary paid during any period of notice of termination served by the Executive in accordance with clause 3.2 of this Agreement; and (b) any payment in lieu of notice paid to the Executive in accordance with clause 3.3 of this Agreement. Such Severance Pay, if any, shall be paid in twelve substantially equal monthly instalments (without interest, with each instalment equal to approximately 1/12th of the aggregate Severance Pay amount) beginning thirty days after the Executive’s Termination Date. The Company’s obligation to provide such Severance Pay is subject to the condition precedent that the Executive shall not have breached any material term of this Agreement. The Executive shall not be entitled to any additional compensation for termination of employment.
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Examples of Notice Payments in a sentence

  • Any Severance Payments which are paid to you under this Agreement shall offset, be credited towards and reduce the amount of any Notice Payments that may be due to you under this Agreement or under English law.

  • Subject to the Executive executing an Agreed Form Compromise Agreement, the Company shall pay to the Executive a severance payment in the aggregate amount of one times the Executive’s annualized rate of base salary from the Company in effect immediately prior to his Termination Date LESS all Notice Payments (“Severance Pay”).

  • By way of example: (i) if the employee receives Notice Payments equal to one (1) month's base salary and car allowance, then his Severance Payments will be three (3) months' base salary and car allowance; and (ii) if the employee instead receives 30 days’ notice, such that there are no Notice Payments, then the Severance Payments will be equal to four (4) months' base salary and car allowance.

  • Subject to the Executive executing an Agreed Form Compromise Agreement, the Company shall pay to the Executive a severance payment equivalent to nine months of base salary under this Agreement (as in effect immediately prior to his Termination Date) LESS all Notice Payments (“Severance Pay”).

  • Neither the Notice Payments nor the Severance Payments shall be included in the Executive’s compensation for purposes of the ESOP and the 401(k) Plan.

  • The parties acknowledge and agree that, other than the Pay in Lieu of Notice Payments and the Accrued Benefits, the Executive is not entitled to compensation of benefits as a result of his voluntary resignation other than for Good Reason absent this Agreement becoming effective and irrevocable.

  • All federal, state, local and other taxes (including, but not limited to, interest, fines and penalties) resulting from, imposed upon by virtue of or relating to the transactions or the payments or benefits to the Executive contemplated by or referenced in this Agreement shall be paid by the Executive, other than payment by the Company of its portion of any FICA or other employment taxes relating to the Notice Payments.

  • The Company's obligation to make any Notice Payments and/or the Non-Compete Payment is conditioned upon the Executive's compliance with the terms and conditions of this Agreement and the Executive Employment Terms.

  • The amounts of the Notice Payments and the Severance Payments are payable in accordance with the Employment Agreement for a termination of employment by the Executive without Good Reason.

  • Notwithstanding any provision of this Agreement to the contrary, in no event shall the employee receive payments pursuant to this Section 11 (Notice Payments and Severance Payments) which, when aggregated, exceed four (4) months' of his then base salary and car allowance.

Related to Notice Payments

  • Advance Payments means the payments made by Customer in advance of delivery with respect of an Aircraft pursuant to Section 4.2 of the Purchase Agreement.

  • Special Allowance Payments means payments, designated as such, consisting of effective interest subsidies by the Department in respect of the Trust Student Loans to the Eligible Lender Trustee on behalf of the Trust in accordance with the Higher Education Act.

  • Service payments means payments to the private entity of a qualifying project pursuant to a service contract.

  • PURCHASE PAYMENTS [We reserve the right to reject any Purchase Payment.] Minimum Subsequent Purchase Payment: [$500 for both Non-Qualified and Qualified, unless you have elected an automatic sweep program.]

  • Advance Payment shall have the meaning set forth in Clause 19.2; “Affected Party” shall have the meaning set forth in Clause 21.1;