Cash Lump Sum Payment Sample Clauses

Cash Lump Sum Payment. Pay to Executive, his estate, or his personal representative (as appropriate) a lump-sum cash payment equal to 12 months' Employment Base Salary to be paid within 30 days after the date the Company receives notice of Executive's death, or within 30 days after the date it has been determined that Executive has incurred a Disability.
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Cash Lump Sum Payment. The Company agrees to pay Executive a cash lump sum payment of One Hundred Sixty Four Thousand Seven Hundred Thirty Six Dollars (US$164,736), less applicable withholdings, which amount is equal to 34 weeks of his base salary (the “Severance Payment”). The Severance Payment shall be paid to Executive on the Termination Date.
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Cash Lump Sum Payment. Subject to Sections 2.9 and 2.10 hereof, each Tier 2 Employee who incurs a Severance shall be entitled to a cash lump sum payment equal to one and three-quarter times (1.75x) the sum of (i) the Eligible Employee’s annual base salary as in effect immediately prior to the Eligible Employee’s Severance Date, and (ii) the target bonus for the year in which the Severance occurs (but not lower than the amount as determined in the ordinary course consistent with the Company’s past practice and, for the avoidance of doubt, excluding any supplemental and retention bonuses).
Sample 1
Cash Lump Sum Payment. Subject to Sections 2.10, 2.11 and 4 hereof, each Tier 2 Employee who incurs a Severance during the Effective Period shall be entitled to a cash lump sum payment equal to one and three-quarter times (1.75x) the sum of (i) the Eligible Employee’s annual base salary as in effect immediately prior to the time that Notice of Termination is given or, if higher, in effect immediately prior to the first occurrence of an event or circumstance constituting Good Reason, and (ii) the target bonus for the year in which the Severance occurs (but not lower than the amount as determined in the ordinary course consistent with the Company’s past practice, not lower than the target bonus for the year in which occurs the Effective Date and, for the avoidance of doubt, excluding any supplemental and retention bonuses).
Sample 1
Cash Lump Sum Payment. Subject to Sections 2.10 and 2.11 hereof, each Tier 4 Employee who incurs a Severance during the Effective Period shall be entitled to a cash lump sum payment equal to one and one-quarter times (1.25x) the Eligible Employee’s annual base salary as in effect immediately prior to the time that Notice of Termination is given or, if higher, in effect immediately prior to the first occurrence of an event or circumstance constituting Good Reason.
Sample 1
Cash Lump Sum Payment. The Company agrees to pay Executive a cash lump sum payment equal to one (1) year of his base salary, less applicable withholdings, plus accrued but unused vacation time (the “Severance Payment”). Executive acknowledges and agrees that he has authorized the Company to offset the overpayment to Executive for his vehicle allowance in the amount of $9,600.00 against the Severance Payment. Thus, Executive shall receive a cash lump sum payment of $298,417.68, less applicable withholdings. The Severance Payment shall be made to Executive within ten (10) days after the Effective Date of this Agreement.
Sample 1
Cash Lump Sum Payment. A cash lump-sum payment equal to ___ times the sum of (i) the greater of the Executive’s annual base salary when the Change of Control occurs or when his/her employment terminates, (ii) the greater of (A) the target bonus to which the Executive would be entitled for the year in which the Change of Control occurs under the Bank’s or the Parent’s annual incentive plan, (B) the target bonus to which the Executive would be entitled for the year in which the termination of employment occurs under the Bank’s or the Parent’s annual incentive plan, or (C) the annual incentive bonus which the Executive received which was attributable to services rendered during the year prior to the year in which the termination of employment occurs, and (iii) an amount equal to the contribution by the Bank or the Parent to any ERISA qualified retirement plan(s) on behalf of the Executive for the year prior to the year in which the termination of employment occurs. Such cash lump sum payment shall be paid to the Executive within 20 days after the termination of employment occurs, except as provided in the following sentence. If The Bank determines that the Executive is a “specified employee” within the meaning of Section 409A(2)(B)(i) of the Internal Revenue Code of 1986, as amended (the “Code”) at the time of termination of employment, and payments to the Executive do not fit under the “short term deferral” or “separation pay plan” exceptions to Section 409A coverage contained in Treas. Reg. §1.409A 1(b)(4) and §1.409A 1(b)(9), respectively, then the Bank will delay such payments to the minimum extent necessary to avoid the 20% penalty tax under Code Section 409A. Any such delayed payments shall be paid to Executive on the first day of the seventh month after Executive’s termination of employment, and will bear interest from the date such payments were due under this Agreement to the date of payment at the applicable Federal short term rate under Section 1234(d) of the Code, as established by the IRS for the month in which the Executive’s employment terminated.
Sample 1
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Related to Cash Lump Sum Payment

  • Lump Sum Payment NewMil Bancorp shall make a lump sum payment to the Executive in an amount in cash equal to one times the Executive’s annual compensation. For purposes of this Agreement, annual compensation means (a) the Executive’s annual base salary on the date of the Change in Control or the Executive’s termination of employment, whichever amount is greater, plus (b) any bonuses or incentive compensation earned for the calendar year immediately before the year in which the Change in Control occurred or immediately before the year in which termination of employment occurred, whichever amount is greater, regardless of when the bonus or incentive compensation is or was paid. NewMil Bancorp recognizes that the bonus and incentive compensation earned by the Executive for a particular year’s service might be paid in the year after the calendar year in which the bonus or incentive compensation is earned. The amount payable to the Executive hereunder shall not be reduced to account for the time value of money or discounted to present value. The payment required under this Section 2(a)(1) is payable no later than 5 business days after the date the Executive’s employment terminates. If the Executive terminates employment for Good Reason, the date of termination shall be the date specified by the Executive in his notice of termination.

  • Lump Sum Payments If, during the Employment Period, the Company terminates the Executive's employment other than for Cause, or the Executive terminates employment for Good Reason, the Company shall pay to the Executive the following amounts:

  • Lump Sum Severance Payment Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the Release required by Paragraph 4(g) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.

  • Interim Payment Unless the Funding Date for a Loan is the first day of a calendar month, Borrower shall pay the per diem interest (accruing at the Loan Rate from the Funding Date through the last day of that month) payable with respect to such Loan on the first Business Day of the next calendar month.

  • Lump Sum Deferral Benefits may be paid to the Beneficiary in a single, lump-sum payment.

  • Separation Payment Except with respect to the Accrued Benefits as defined in the Employment Agreement, if you sign this Agreement, agreeing to be bound by the General Release in Paragraph 3 below and the other terms and conditions of this Agreement described below, and comply with the requirements of this Paragraph 2 (other than the Accrued Benefits), you will receive the compensation and benefits as contemplated by the Employment Agreement. You will not be eligible for the payment and benefits described in this Paragraph 2 unless: (i) you sign this Agreement no later than twenty-one (21) days after you receive it, promptly return the Agreement to the Company after you sign it, and do not timely revoke it; and (ii) you have returned all Company property and documents in accordance with Paragraph 15 below.

  • Cash Payment The Employee shall make cash payments by wire transfer, certified or bank check or personal check, in each case payable to the order of the Company; the Company shall not be required to deliver certificates for Option Shares until the Company has confirmed the receipt of good and available funds in payment of the purchase price thereof.

  • Pre-Payment The Borrower may pre-pay all or any portion of the loan at any time.

  • Cash Severance Payment Provided that Executive complies with Section 5 below, Executive shall receive a lump sum cash payment in an amount equal to fifteen (15) months of Executive’s the effective base salary (less applicable withholding), paid within ten (10) business days of the effective date of the Termination Upon a Change of Control.

  • Premium Payment The Bank shall pay any premiums due on the Policy.

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