Pay Continuation definition
Examples of Pay Continuation in a sentence
However, no Pay Continuation or other benefits under this Agreement will be provided unless and until this Agreement becomes Effective, as defined below.
If the Company terminates Executive's employment with Cause, Executive shall not be eligible to receive the Severance Pay, Continuation Coverage or Accelerated Vesting.
You will receive Pay Continuation in the gross amount of your annual base salary as of the date of this Agreement, which shall be paid to you in bi-weekly installments, subject to withholdings, in accordance with Key's normal payroll procedures for a period of 52 weeks (e.g., from July 2, 2022 to June 30, 2023) (the "Pay Continuation Period"), or until the Pay Continuation amount is fully paid, whichever occurs first.
Employee acknowledges and agrees that he will be responsible for the return of the Security Deposit as well as any costs and expenses, including any hold-over rent and other charges levied by the landlord for Employee’s failure to surrender the apartment on the Surrender Date as required by this paragraph, and that Immune may withhold such amounts from the Employee’s Pay Continuation.
At the end of the Pay Continuation Period, Stack understands that COBRA continuation rights will be available to him for an additional 18-month period pursuant to federal law.
If you obtain new employment outside of Key, your Pay Continuation will continue until it is fully paid.
LETTER #9 Pay Continuation While on Approved Union Leave of Absence The following procedure will be applied for the payment and reimbursement of employees on authorized Union leaves of absence.
Provided that Executive complies with all terms and conditions set forth herein, pursuant to the terms of the Company’s Executive Officer Pay Continuation Policy (the “Policy”), the Company shall continue to pay Executive his salary (as it was on March 1, 2020) pursuant to the Company’s currently established pay schedule for a period of six (6) months from its most recent pay date (May 8, 2020).
Tanning will continue to allow Stack to earn vesting credit for his existing stock options on 175,000 shares both during and after the Pay Continuation Period on the condition that Stack fully complies with the terms of this Agreement, including but not limited to the non- disparagement requirements set forth in Section 8 below and the non-solicitation requirements set forth in Section 9 below.
All prior discussions and negotiations have been and are merged and integrated into, and are superseded by, this Agreement, including the Severance Agreement and Executive’s rights under the Company’s Executive Officer Pay Continuation Policy and the Company’s Executive Severance Plan (Tier I – 2013), but excluding any award agreements evidencing the Company Equity Awards (as amended by this Agreement) and the Restrictive Covenant Arrangements.