Additional Compensation Payments. So long as Employee remains in the continuous employ of Safeco or a Safeco subsidiary, then, with respect to the Shares that are to be issued on each Settlement Date hereunder, Safeco shall (i) pay to Employee during the period commencing with the date hereof and ending on such Settlement Date, as additional compensation, an amount of cash equal to the dividends that would have been payable to Employee during such period if Employee had owned such Shares (“Dividend Equivalents”) or (ii) if eligible and at the election of the Employee, defer the Dividend Equivalents pursuant to the terms and conditions of the Plan and the DCP. Such amounts shall be paid on the regular payroll date that coincides with, or next follows, the applicable dividend payment dates. Upon termination of employment, Employee’s right to receive Dividend Equivalents under this paragraph shall immediately cease; provided; however, that if the termination of employment was due to Employee’s death or disability (as defined in paragraph 4 above) and occurred after an ex-dividend date but prior to payment of the dividend, Employee or the personal representative of Employee’s estate shall be entitled to payment under this paragraph of an amount equivalent to such dividend.
Additional Compensation Payments. So long as Employee remains in the continuous employ of SAFECO or a SAFECO subsidiary, then, with respect to the Shares that are to be issued on each Target Date hereunder, SAFECO shall pay to Employee during the period commencing with the date hereof and ending on such Target Date, as additional compensation, an amount of cash equal to the dividends that would have been payable to Employee during such period if Employee had owned such Shares. Such amounts shall be paid as near in time as reasonably practical to the applicable dividend payment dates. Upon termination of employment, Employee's right to receive dividend equivalents under this paragraph shall immediately cease; provided; however, that if the termination of employment was due to Employee's death or disability or was without Cause (as defined in the Employment Contract) and occurred after an ex-dividend date but prior to payment of the dividend, Employee or the personal representative of Employee's estate shall be entitled to payment under this paragraph of an amount equivalent to such dividend.
Additional Compensation Payments. In order to induce the Executive to execute this Addendum and to be bound by its terms, including the provisions contained herein at Section 2, and to remain in the employment with the Bank and Bancorp through the date of the merger of Bancorp and Xxxxxxx (“Merger Date”), and to commence employment with Xxxxxxx as of the Merger Date and to remain employed with Xxxxxxx thereafter, Xxxxxxx shall make the following additional payments to the Executive as follows:
Additional Compensation Payments. During the Restricted Period, Safeco shall pay to Director with respect to the shares underlying the Award, as additional compensation, an amount of cash equal to the dividends that would have been payable to Director during the Restricted Period if Director had owned such shares. Upon termination of service as a director, Director’s right to receive dividend equivalents under this paragraph shall immediately cease; provided; however, that if the termination of employment was due to Director’s death or disability (as defined in Section 5 below) and occurred after an ex-dividend date but prior to payment of the dividend, Director or the personal representative of Director’s estate shall be entitled to payment under this paragraph of an amount equivalent to such dividend.
Additional Compensation Payments a. Provided that the Executive is an employee in good standing with Xxxxxxx as of the date that is one (1) month following the Merger Date, Xxxxxxx shall pay the Executive the sum of $50,000; and
Additional Compensation Payments. Schedule 5.5(a)(i) of the Company Disclosure Letter sets forth a true and complete list of all Persons to whom the Company or any of the Company Subsidiaries has or will have, as of the Effective Time or as a result of, or in connection with, the consummation of the transactions contemplated by this Agreement or the other Transaction Documents, an obligation to make any Additional Compensation Payments.
Additional Compensation Payments. There are no Persons to whom the Company or any of the Company Subsidiaries has or will have, as of the Closing Date or as a result of, or in connection with, the consummation of the transactions contemplated by this Agreement or the other Acquisition Documents, an obligation to make any Additional Compensation Payments.
Additional Compensation Payments. Notwithstanding anything in Section 5 hereof or otherwise herein to the contrary, the Board shall receive the following Additional Compensation Payments payable by the Company and City, respectively, as set forth below:
