Salary Payments definition
Examples of Salary Payments in a sentence
Subject to the provisions of Section 6.11, the Disability Base Salary Payments shall be paid in accordance with the Company’s standard payroll practices; provided, however, that any amounts that would otherwise be scheduled to be paid prior to the Release Effective Date shall instead accrue and be paid during the first payroll period following the Release Effective Date, and all other payments shall be made as originally scheduled.
The Company shall continue to pay Executive’s Base Salary, less required withholdings, for a period of 12 months (the “Disability Base Salary Payments”) following Executive’s separation from service; provided that the Disability Base Salary Payments shall be reduced by any insurance or other payments to Executive under policies and plans sponsored by the Company, even if premiums are paid by Executive.
Subject to the provisions of Section 6.11, the Disability Base Salary Payments shall be paid in accordance with the Company’s standard payroll practices commencing with the first payroll period following the effectiveness of the Release.
Notwithstanding the foregoing, the payment of any portion of the Continued Salary Payments that (A) is not exempt from Code Section 409A, and (B) is payable (based on the payment schedule hereinabove) before, or within the six-month period immediately following, the date of Executive’s Section 409A Separation from Service, will be delayed and will be made in a single lump-sum cash payment upon the day after the six-month anniversary of Executive’s Section 409A Separation from Service.
Salary Payments: Salary payments will be paid with a 21 or 26 bi-weekly installment option.
Instead of the Continued Salary Payments described in Section 5(d)(i) of this Agreement, Executive shall receive an amount equal to (A) the amount of such Continued Salary Payments payable during each month (B) multiplied by 24.
Salary Payments During Short-Term Suspension When the suspension is for disciplinary reasons and less than six (6) days, payment of salary for up to six (6) days may be withheld upon order of the Superintendent or the Superintendent’s designee.
The Company shall continue to pay Executive’s Base Salary, less required withholdings, for a period of 15 months (the “Disability Base Salary Payments”); provided that the Disability Base Salary Payments shall be reduced by any insurance or other payments to Executive under policies and plans sponsored by the Company, even if premiums are paid by Executive.
In addition, during the term the Executive is receiving Base Salary Payments, he shall continue to vest in any stock option or restricted stock award previously granted to the Executive notwithstanding the terms of any stock option or restricted stock award agreement or equity incentive plan.
Executive will receive the Continued Salary Payments on a semi-monthly basis, payable on the fifteenth day and last day of each calendar month, in substantially equal installments, beginning on the earliest such payment date following the date of Executive’s termination of employment.