Payments to Employee. Employee acknowledges that on or before the Effective Date, the Company paid Employee all wages due and owing through the Separation Date. [The Company will pay to Employee a severance payment in the amount of $_________, less all authorized deductions and withholdings for applicable federal, state and local taxes. Such severance shall be paid on _________. No other amounts except those specified in this Section 3 will be paid to Employee.]
Payments to Employee. IN THE EVENT OF THE CESSATION OF EMPLOYEE'S EMPLOYMENT PRIOR TO THE EXPIRATION OF THE TERM OF THIS AGREEMENT, EMPLOYER SHALL PAY TO EMPLOYEE THE AMOUNTS SET FORTH IN THIS PARAGRAPH 9 BIWEEKLY THROUGHOUT THE BALANCE OF THE TERM OF THIS AGREEMENT; PROVIDED, HOWEVER, THAT EMPLOYER SHALL HAVE NO OBLIGATION TO PAY ANY AMOUNTS WHATSOEVER UNDER THE PROVISIONS OF THIS PARAGRAPH 9 IF EMPLOYEE: (a) IS TERMINATED BY JACK X. XXXXX XX HIS CAPACITY AS CHAIRMAN AND CHIEF EXECUTIVE OFFICER AND/OR PRESIDENT OF EMPLOYER; (b) IS TERMINATED BY EMPLOYER'S BOARD OF DIRECTORS WITH THE CONCURRENCE OF JACK X. XXXXX XX HIS CAPACITY AS CHAIRMAN AND CHIEF EXECUTIVE OFFICER AND/OR PRESIDENT OF EMPLOYER; (c) VOLUNTARILY TERMINATED HIS EMPLOYMENT DURING SUCH TIME AS JACK X. XXXXX XXX BE CHAIRMAN AND CHIEF EXECUTIVE OFFICER AND/OR PRESIDENT OF EMPLOYER; (d) IS TERMINATED FOR CAUSE, AS THAT TERM IS DEFINED IN PARAGRAPH 8.2 HEREOF; OR (e) IF UPON A CHANGE OF CONTROL, EMPLOYEE ACCEPTS A RENEWAL OF THE TERM OF THIS AGREEMENT AND THEREAFTER VOLUNTARILY
Payments to Employee. In the event of the cessation of Employee’s employment prior to the expiration of the term of this Agreement, Employer shall pay to Employee the amounts set forth in this Paragraph 9 biweekly throughout the balance of the term of this Agreement; provided, however, that Employer shall have no obligation to pay any amounts whatsoever under the provisions of this Paragraph 9 if Employee: (a) is terminated by Xxxx X. Xxxxx in his capacity as Chairman and/or Chief Executive Officer of Employer; (b) is terminated by Employer’s Board of Directors with the concurrence of Xxxx X. Xxxxx in his capacity as Chairman and/or Chief Executive Officer of Employer; (c) voluntarily terminated his employment during such time as Xxxx X. Xxxxx may be Chairman and/or Chief Executive Officer of Employer; (d) is terminated for cause, as that term is defined in Paragraph 8.2 hereof; or (e) if upon a Change of Control, Employee voluntarily terminates his employment.
Payments to Employee. The Company shall pay to Employee “Severance Pay” consisting of (a) a lump sum payment of Fifty Thousand Dollars ($50,000) (the “Lump Sum Payment”), subject to the Company’s timely receipt of this Agreement executed by Employee and Employee’s not exercising his right of revocation (as described below) of this Agreement; and (b) thirty six (36) monthly payments in the gross amount of Thirty Thousand Forty One Dollars and Sixty Six Cents ($30,041.66) (the “Monthly Payments”), subject to Employee’s satisfying all of the following conditions: (a) the Company’s timely receipt of this Agreement executed by Employee and Employee’s not exercising his right of revocation (as described below) of this Agreement; (b) the Company’s receipt of the Release attached to this Agreement as Appendix A that has been executed by Employee after the Separation Date and delivered to the Company within ten (10) business days after the Separation Date; and (c) the expiration of the seven (7)-day period within which Employee may revoke the Release (the “Revocation Period”) and Employee’s not timely revoking the Release. Severance Pay will be paid in 2017 as follows: (A) the Lump Sum Payment will be paid on the Company’s first regular payroll date in January 2017; and (B) the Monthly Payments will be paid in 2017, 2018 and 2019 on the Company’s regular payroll dates beginning with the first regular payroll date that is a least five (5) business days after the Effective Date of the Release (as defined in the Release). Each payroll period payment described in this Section 1 shall be treated as a separate payment for purposes of Section 409A of the Internal Revenue Code. All payments pursuant to this Agreement will be subject to all applicable taxes and other lawful withholdings. Any restricted stock or stock option awards to Executive that do not vest by the Separation Date shall not vest (“Unvested Equity Awards”). Appendix B to this agreement details vested and unvested restricted stock and options awards as of the Separation Date.
Payments to Employee. The Company, on its behalf and on behalf of the Released Parties (as defined below), agrees to provide to Employee, and Employee has expressly agreed to accept, the following, in full settlement, release and discharge of all possible claims, as further delineated in Section 3 below, and as consideration for the other covenants and agreements of Employee set forth in this Agreement:
Payments to Employee. The Company shall pay the following to Employee:
Payments to Employee. Provided that Employee performs his CFO duties consistent with past practice and does not resign for any reason before April 30, 2012, and Employee delivers to the Company signed originals of both this Agreement and the Second Agreement (as and when each such Agreement is to be executed in accordance with their respective terms) and does not timely revoke either this Agreement or the Second Agreement, and subject to Employee’s compliance with Paragraphs 9G, 9H and 18 of the Employment Agreement and Paragraph 9 of this Agreement, the Company will pay and provide Employee, subject to the terms and conditions of the Agreements, and Employee will accept, as and on behalf of Releasor from the Company on behalf of each Releasee, the payments and benefits stated in Paragraphs 3(a) and 3(b) below (the “Transition Agreement Payments”), in consideration for Employee’s services under Paragraph 2 of this Agreement, his release of claims against the Company as set forth in the Agreements, and the other promises and obligations set forth in the Agreements.
Payments to Employee. In partial consideration for the promises of Employee set forth herein, Reliant agrees to pay Employee the following amounts on the terms described in this Section 4:
Payments to Employee. The parties acknowledge and agree that the releases set forth in this Agreement constitute the release of claims referred to in Article 3.3 of the SailPoint Technologies Holdings, Inc. Severance Pay Plan and Summary Plan Description, effective as of November 6, 2018 (the “Severance Plan”). Pursuant to the terms of and in satisfaction of HoldCo’s obligations under the Severance Plan, and provided that Employee executes this Agreement on or within the twenty-one calendar days immediately following the Separation Date, does not revoke this Agreement, and at all times complies with the terms of this Agreement, Employer shall (a) pay Employee severance in the total aggregate amount of $150,000 in a lump sum (less all applicable taxes and other required or authorized deductions and withholdings) on the 60th day following the Separation Date and (b) to the extent Employee properly elects COBRA (as defined in the Severance Plan), provide to Employee the COBRA Continuation Benefit (as defined in the Severance Plan) for a period of six months following the Separation Date (collectively, the “Severance”).
Payments to Employee. In partial consideration for the promises of EMPLOYEE set forth herein, RELIANT to pay EMPLOYEE the amounts set forth in Sections 4(a) and 4(b) below on the terms described in this Section 4:
