Payroll Date definition
Examples of Payroll Date in a sentence
Any payments that would have been made to (or on behalf of) Executive under Section 5.2 during the period between the date of termination of Executive’s employment with the Company and the First Payroll Date, but for the requirements of this Section 5.7, shall be paid to Executive in a lump sum on the First Payroll Date and, thereafter, the remaining portion of such benefits shall be paid over the remainder of the time period originally scheduled for such payments.
No payments (or reimbursements) that are subject to this Section 5.7 shall be made prior to the First Payroll Date.
Notwithstanding anything to the contrary in this Section 6, the payments due under Section 6(a)(i) shall be payable commencing on the Company’s first payroll date occurring on or after the 30th day following the Date of Termination (the “First Payroll Date”), and any amounts that would otherwise have been paid pursuant to such Section 6(a)(i) prior to the First Payroll Date shall be paid in a lump-sum on the First Payroll Date.
Payroll Date: Payday for all employees is to be the 25th day of each month.
The rights of the Owners to receive distributions from the proceeds of the Trust Estate and all ownership interests of the Owners in such distributions, shall be as set forth in this Agreement.