Payment and Benefits. In consideration of the promises made in this Release, Employer has agreed to pay Executive the benefits as provided in that certain employment agreement made and entered into as of _________________________, by and between the Parties (the “Employment Agreement”). Executive understands and acknowledges that the benefits described in this Section 2 constitute benefits in excess of those to which Executive would be entitled without entering into this Release. Executive acknowledges that such benefits are being provided by Employer as consideration for Executive entering into this Release, including the release of claims and waiver of rights provided in Section 3 of this Release.
Payment and Benefits. Upon the effectiveness of the terms set forth herein, the Company shall provide the Employee with all of the applicable payments and benefits set forth in the Employment Agreement between the Company and the Employee, dated as of , (as amended from time to time, the “Employment Agreement”).
Payment and Benefits. Upon the effectiveness of this Release as set forth in Paragraphs 12 and 13 hereof, Employer shall provide the Employee with the payments and benefits set forth in Paragraph [6.2, 6.3 or 6.4] of the Employment Agreement among the Employer and the Employee, dated as of , 2007 (as amended from time to time, the “Employment Agreement”).
Payment and Benefits. Upon the effectiveness of the terms set forth herein, the Company shall provide the Employee with certain payments and benefits set forth in Section 5(a)(ii) of the Employment Agreement between the Company and Employee dated , 20 (the “Employment Agreement”), upon the terms, and subject to the conditions, of the Employment Agreement.
Payment and Benefits. In consideration for the Executive’s obligations herein, the Company shall provide the following payments and benefits:
Payment and Benefits. (a) Commencing not later than thirty (30) days after the Triggering Event, and subject to Executive's compliance with Section 7 of this Agreement, the Company shall pay to Executive, in installments no less frequently than monthly, during the two year period following the Triggering Event (but not later than the last day of the Term of this Agreement), a monthly amount equal to one-twelfth (1/12) of Executive's total cash compensation received from the Company during the Company's fiscal year ended May 28, 2000 (including both base annual salary and bonus, if any). 2 The foregoing payments shall be reduced, to the extent necessary, so that the sum of payments made pursuant to this Section 4(a), when added to the total cash compensation to which the Executive is then entitled by virtue of other employment, will not excess, for any twelve (12) month period, the Executive's total cash compensation received from the Company during the Company's fiscal year ended May 28, 2000 (including both annual salary and bonus, if any).
(b) During the period that payments are due to Executive pursuant to Section 4(a), and subject to Executive's compliance with Section 7 of this Agreement, Executive shall be entitled to the health, life and disability insurance benefits which are no less, in the aggregate, than the amount of the benefits to which the Executive is entitled on the date of this Agreement. Notwithstanding the foregoing, if the Executive obtains other full-time employment, which employment provided equivalent health, life and disability insurance benefits, the benefits described in this Section 4(b) shall cease.
(c) The Company may withhold from any payments or benefits due under this Agreement all federal, state, city, or other taxes as shall be required pursuant to any law or governmental regulation or ruling. In no event shall the Company be obligated to make any payment or provide any benefits pursuant to Section 4(a) or 4(b) hereof after the last day of the Term of this Agreement.
Payment and Benefits. (i) Xxxxx shall be paid $25,700 on a monthly basis throughout the Term. Except as described in Section 4(a)(iii) below, Xxxxx shall not be entitled to stock options, continued vesting of stock options, any incentive/bonus programs, or any employee benefits. Because Xxxxx is an independent contractor, he shall not be paid overtime compensation, shall not receive any holiday, sick or vacation pay, and shall be solely liable for all taxes in accordance with this Section 4 (a)(i). Xxxxx acknowledges and agrees that CHC shall not have any obligation or liability whatsoever to Xxxxx or his successors, assigns or creditors for federal or state income or employment tax withholding, payment of employment or unemployment insurance contributions, minimum wage requirements, workers' compensation coverage, or other similar taxes or liabilities, by reason of Xxxxx'x status as an independent contractor. SPECIFICALLY, XXXXX ACKNOWLEDGES THAT HE IS NOT ENTITLED TO WORKERS' COMPENSATION OR UNEMPLOYMENT INSURANCE BENEFITS UNLESS WORKERS' COMPENSATION OR UNEMPLOYMENT COMPENSATION COVERAGE IS PROVIDED BY XXXXX OR BY SOME ENTITY OTHER THAN CHC, AND THAT XXXXX IS OBLIGATED TO PAY ALL FEDERAL AND STATE INCOME TAX ON ANY MONEYS PAID TO XXXXX PURSUANT TO THIS AGREEMENT.
(ii) If prior to the expiration of the Term Xxxxx accepts a job or a position with another organization who is not a competitor of Coram and his new position or engagement does not compete with Coram as defined in Section 5(b) hereof, Xxxxx'x sales consulting obligations as set forth in Section 3 of this Agreement shall terminate and Coram shall continue to pay Xxxxx $25,700 on a monthly basis through the end of the Term. However, any and all other obligations of Xxxxx under this Agreement, including but not limited to those set forth in Sections 5-11 herein, shall survive any expiration or termination of this Agreement. In the event Xxxxx wishes to enter into a business relationship or otherwise take any action which he reasonably believes in good faith will not violate the terms of his non-compete provision, Xxxxx may request approval from the Company to enter into such relationship or take such action. If the Company's Chief Executive Officer (i) agrees that Xxxxx'x proposed business relationship or action would not violate his non-compete provision or (ii) fails to respond to Xxxxx'x written request to the Company within thirty (30) days from the receipt of such written request by the Company's Chief Executive O...
Payment and Benefits. Upon the effectiveness of the terms set forth herein, the Company shall provide the Executive with the payments and benefits set forth in the applicable sections of the employment agreement by and between the Company and the Executive setting forth the terms of the Executive’s termination of employment with the Company, dated as of , (as amended from time to time, the “Agreement”) at the times and on the terms set forth in the Agreement.
Payment and Benefits. The Company shall provide the Executive with the salary continuation payments specified in and subject to the provisions of Section 3.3(b) of the Employment Agreement dated as of [●], by and between the Company and the Executive (the “Employment Agreement”); provided, that such payment is subject to certain terms and conditions, including without limitation this Release becoming effective, as provided in the Employment Agreement.
Payment and Benefits a. Vacation pay is included in the above rates.
b. Observance of a non-instructional day shall not be considered an interruption in assignment. c In the event that the assignment of a teacher teaching on call is interrupted by the return of a teacher who subsequently is absent within two (2) working days, and if the teacher teaching on call is reassigned, the assignment shall proceed as if it has not been broken for salary or contract provisions which depend upon the length of assignment.
