Salary Continuation Agreements definition

Salary Continuation Agreements has the meaning set forth in Section 6.16.
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Salary Continuation Agreements means the salary continuation agreements of Messrs. XxXxxxxxx, Xxxxxxxxx and Xxxxxxxx and Xx. Xxxxxxxxxxxx. “Xxxxxxxx-Xxxxx Act” has the meaning set forth in Section 5.03(g). “SEC” means the United States Securities and Exchange Commission. “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. “Share” and “Shares” has the meaning set forth in Section 3.01(a). “Shareholder Agreements” has the meaning set forth in the recitals to this Agreement. “Short Term Employee” means an employee of Napa immediately prior to the Effective Time who is offered short term employment with Bank in connection with -8- systems conversion or other integration matters; provided, however, that a Short Term Employee shall not be deemed to be a Continuing Employee. “Stockholders’ Equity Measuring Date” has the meaning set forth in Section 7.03(d). “Subsidiary” means, as to any Person, a corporation, limited liability company, partnership or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or other managers of such corporation, limited liability company, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person. “Superior Proposal” has the meaning set forth in Section 6.06. “Surviving Bank” has the meaning set forth in Section 2.01(a). “Tax” (including, with correlative meanings, the terms “Taxes” and “Taxable”) means all federal, state, local and foreign taxes, charges, fees, customs, duties, levies or other assessments, however denominated, including, without limitation, all net income, gross income, profits, gains, gross receipts, sales, use, value added, goods and services, capital, production, transfer, franchise, windfall profits, license, withholding, payroll, employment, disability, employer health, excise, estimated, severance, stamp, occupation, property, environmental, unemployment, capital stock or any other taxes, charges, fees, customs, duties, levies or other assessments of any nature whatsoever, together with all interest, penalties and additions imposed with respect to such amounts and any interest in respect of such penalties and additions. “Tax Returns” means any retu...
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Salary Continuation Agreements means the Salary Continuation Agreements entered into by the Company or a Subsidiary with an Executive.
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Examples of Salary Continuation Agreements in a sentence

  • The changed accrual rate assumption affects anticipated benefit payment amounts, both under the Agreements and under the officers' Salary Continuation Agreements.

  • A similar change in the accrual rate assumption was recently made by Cortland Savings and Banking Company for its liability accruals under Salary Continuation Agreements with officers.

  • Present value calculations shall be made using the assumptions set forth in the Salary Continuation Agreements.

  • Just as the Salary Continuation Agreements' Schedules A have been updated to reflect this changed assumption, we propose to replace the Schedule A attached to your Agreement with a new Schedule A.

  • Nothing in this Agreement shall be construed to limit, condition, or otherwise encumber the right of the Company to amend, discontinue, terminate, substitute, or maintain any benefit plan, program, policy, arrangement or perquisite, including, but not limited to, the benefits and other perquisites set forth in Section 2.3, provided any such changes, or changes (other than the Salary Continuation Agreements) in the agreement will not result in a noticeably decreased level of benefits to Executive.

  • The Bank has purchased life insurance policies or other assets to provide the benefits payable to the Named Executive Officers and other executive officers that are a party to Executive Salary Continuation Agreements, as amended, and the SERP Agreements with the Bank.

  • The Plan does not represent a material modification of the Salary Continuation Agreements that were in effect October 3, 2004.

  • The Employer shall continue the Salary Continuation Agreements entered into between the Alabama Bank and the Executive and the Florida Bank and the Executive on July 14, 2004 and as amended on June 26, 2006.

  • The Company has entered into Executive Salary Continuation Agreements with certain of its senior executive officers, including Messrs.

  • At December 31, 2020, the total liability of the Bank to the Named Executive Officers under the Executive Salary Continuation Agreements, as amended, and the SERP Agreements totaled $945,508 while the cash surrender value and face amount of the policies associated with these Named Executive Officers totaled approximately $6,614,953 and $8,481,740, respectively.


More Definitions of Salary Continuation Agreements

Salary Continuation Agreements means the salary continuation agreements with Employees that are listed as such on Schedule 5.02(m).
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Salary Continuation Agreements those certain agreements entered into before December 31, 2005 between the Company and such members of senior management as listed in Schedule SCA, providing for salary continuation beyond active full-time employment.
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Salary Continuation Agreements means the salary continuation agreements of Messrs. LeMxxxxxx, Xunxxxxxx xxd Flexxxxx xxd Ms. Xxxxxxxxxxxx.
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Salary Continuation Agreements means each of the executive retention agreements listed under “Employment Related Contracts” in Schedule 4.01(p).
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Salary Continuation Agreements means the salary continuation agreements with Employees that are listed as such on Schedule 5.02(m). “Xxxxxxxx-Xxxxx Act” has the meaning set forth in Section 5.03(g). “SEC” means the United States Securities and Exchange Commission. “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.
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Related to Salary Continuation Agreements

  • Benefit Continuation Period means the period beginning on the Date of Termination and ending on the last day of the month in which occurs the earlier of (i) the 24-month anniversary of the Date of Termination and (ii) the date on which you elect coverage for you and your covered dependents under substantially comparable benefit plans of a subsequent employer.

  • Benefits Continuation Period has the meaning set forth in Section 6.01(b).

  • Salary Reduction Agreement means an agreement between a dis- trict and an employee to reduce the employee’s salary for the pur- pose of making direct contributions to or purchases of a qualified investment product. Art. 6228a-5, Sec. 4(5), Tex. Rev. Civ. Stat.

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Continuation Period shall have the meaning set forth in Section 6.9(a).

  • Termination Benefits means the benefits described in Section 4.1(b).

  • COBRA continuation provision means any of the following:

  • Deferred Compensation Agreement means an agreement to participate and to defer compensation between a Participant and the Company in such form and consistent with terms of the Plan as the Company may prescribe from time to time.

  • Lease Termination Payments means all payments received by or on behalf of any Seller with respect to a Lease with respect to any terminations, surrenders, modifications, renewals or amendments of any such Lease.

  • Continuation Date means any date on which Borrower continues a LIBOR Advance into another Interest Period.

  • Compensation Accrued at Termination means the following:

  • Conversion/Continuation Date means the effective date of a continuation or conversion, as the case may be, as set forth in the applicable Conversion/Continuation Notice.

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one (1) day prior to the Change of Control; and (ii) the average of the Incentive Bonus paid (or payable) for the three (3) most recently completed fiscal years of the Company.

  • Termination Payments has the meaning specified in Section 10(a).

  • Termination Benefit means the benefit set forth in Article 7.

  • Severance Payments shall have the meaning set forth in Section 6.1 hereof.

  • Termination Base Salary means that amount equal to Executive’s annual base salary with the Company at the rate in effect immediately prior to the Change of Control or, if a greater amount, Executive’s annual base salary at the rate in effect at any time thereafter.

  • Termination Date Disbursement means an amount drawn under a Multi-Series Letter of Credit pursuant to a Certificate of Termination Date Demand.

  • Severance Period means the period of time commencing on the date of the first occurrence of a Change in Control and continuing until the earlier of (i) the second anniversary of the occurrence of the Change in Control and (ii) the Executive’s death.

  • COBRA Continuation Period means the continuation period for medical and dental insurance to be provided under the terms of this Agreement which shall commence on the first day of the calendar month following the month in which the date of termination falls and generally shall continue for an 18 month period.

  • Salary as defined in Section 3.1(a).

  • Special compensation means payment to an adult foster care facility to ensure the provision of a specialized program in addition to the basic payment for adult foster care. Special compensation does not include payment received directly from the Medicaid program for personal care services for a resident, or payment received under the supplemental security income program.

  • Accrued Compensation means an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay and (iv) bonuses and incentive compensation (other than the "Pro Rata Bonus" (as hereinafter defined)).

  • Other Income Benefits means any benefits listed in the Other Income Benefits provision that you receive on your own behalf or for your dependents, or which your dependents receive because of your entitlement to Other Income Benefits.

  • Benefit Period means the period of time from the date of the Accident causing the Injury for which benefits are payable, as shown in the Schedule of Benefits, and the date after which no further benefits will be paid.

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;