Beginning. October 1, 2020, and ending October 1, 2022, the Recipient and its Affiliates shall not pay, during any 12 consecutive months of such two-year period, any of the Recipient’s Corporate Officers or Employees whose Total Compensation exceeded $3,000,000 in calendar year 2019 Total Compensation in excess of the sum of: a. $3,000,000; and b. 50 percent of the excess over $3,000,000 of the Total Compensation received by such Corporate Officer or Employee in calendar year 2019.
Appears in 4 contracts
Sources: Payroll Support Program Extension Agreement (Mesa Air Group Inc), Payroll Support Program Extension Agreement (Frontier Group Holdings, Inc.), Payroll Support Program Extension Agreement (Sun Country Airlines Holdings, Inc.)
Beginning. October April 1, 20202021, and ending October April 1, 20222023, the Recipient and its Affiliates shall not pay, during any 12 consecutive months of such two-year period, any of the Recipient’s Corporate Officers or Employees whose Total Compensation exceeded $3,000,000 in calendar year 2019 Total Compensation in excess of the sum of:
a. $3,000,000; and
b. 50 percent of the excess over $3,000,000 of the Total Compensation received by such Corporate Officer or Employee in calendar year 2019.
Appears in 2 contracts
Sources: Payroll Support Program Agreement (Mesa Air Group Inc), Payroll Support Program Agreement (Mesa Air Group Inc)
Beginning. October April 1, 20202021, and ending October April 1, 20222023, the Recipient and its Affiliates shall not pay, during any 12 consecutive months of such two-year period, any of the Recipient’s Corporate Officers or Employees whose Total Compensation exceeded $3,000,000 in calendar year 2019 Total Compensation in excess of the sum of:
a. $3,000,000; and
b. 50 percent of the excess over $3,000,000 of the Total Compensation received by such Corporate Officer or Employee in calendar year 2019.
Appears in 1 contract
Sources: Payroll Support Program Agreement (Harbor Diversified, Inc.)
Beginning. October April 1, 20202021, and ending October April 1, 20222023, the Recipient and its Affiliates shall not pay, during any 12 consecutive months of such two-year period, any of the Recipient’s 's Corporate Officers or Employees whose Total Compensation exceeded $3,000,000 in calendar year 2019 Total Compensation in excess of the sum of:
a. $3,000,000; and
b. 50 percent of the excess over $3,000,000 of the Total Compensation received by such Corporate Officer or Employee in calendar year 2019.
Appears in 1 contract
Sources: Payroll Support Program Agreement (Sun Country Airlines Holdings, Inc.)