COMPENSATION CONTINUATION Sample Clauses

COMPENSATION CONTINUATION. Each of VLH, VLI and/or Showco, as the case may be, shall, for a period of 60 days after the date of the death of Xxxxxx, continue to pay to Xxxxxx'x estate cash compensation (including without limitation salary, bonus and consulting fees) in a monthly amount equal to one-twelfth of all cash compensation (including without limitation salary, bonus and consulting fees) paid or payable to Xxxxxx on an annualized basis immediately preceding his death. Notwithstanding the foregoing, if the proceeds from any life insurance policy purchased by VLH, VLI and/or Showco, as the case may be, for the benefit of Xxxxxx and in effect upon the date of his death have not been paid within 60 days after the date of his death, VLH, VLI and/or Showco, as the case may be, shall continue to make such compensation payments as herein provided until the date such life insurance proceeds are paid in full (provided that in no event shall such payments continue for more than one year after the date of his death). Any payments required under this Agreement shall be made in accordance with the general payroll practices of VLH, VLI and/or Showco, as the case may be, in effect at the time such payment is made, but in no event less frequently than monthly.
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COMPENSATION CONTINUATION. The Employee is authorized to take up-to twenty (20) good faith sick days during the Term of this Agreement. The Corporation shall have the right to terminate this Agreement in the event the Employee is unable, because of any illness or physical incapacity, to perform the duties set forth herein for a period of time in excess of the allowable sick days and vacation days.
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COMPENSATION CONTINUATION. After the termination of the Employment Period, on a semi-monthly basis in accordance with Angelica's normal and customary payroll practices, Xxxxxxxx shall pay Hubble the "Monthly Continuation Compensation" (as defined in this Section 4.1(b) for each month (or partial month on a prorated basis) remaining in the Term of this Agreement after the termination of the Employment Period. Xxxxxxxx may at any time elect to pay the balance of such payments then remaining in a lump sum, in which the total of such lump-sum payment is discounted to its present value on the basis of the applicable Federal short-term monthly rate for the month in which such lump-sum payment is to be made as determined in accordance with Section 1274(d) of the Internal Revenue Code of 1986, as amended. For purposes of this Agreement, "Monthly Continuation Compensation" shall mean the sum of Hubble's Annual Base Salary and Termination Year Maximum Bonus as of the last day of the Employment Period divided by 12.
Sample 1
COMPENSATION CONTINUATION. The Company will continue to pay Mx. Xxxxxxxxx his current base salary through the Effective Date, at intervals in accordance with the Company's current pay practices. On January 5, 2000, the Company will pay Mx. Xxxxxxxxx a lump sum amount of Three Hundred Fifty-Nine Thousand Six Hundred Twenty-Five and No/100 Dollars ($359,625.00). All amounts paid to Mx. Xxxxxxxxx will be subject to withholding of federal and state income and employment taxes, in accordance with United States and Florida laws. Unless otherwise determined by the Company, Mx. Xxxxxxxxx will be entitled to no cash compensation from the Company in addition to the sums provided in this section.
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COMPENSATION CONTINUATION. (i) The Employer shall pay the Executive all salary, incentive, vacation pay, and other benefits which the Executive has earned and is entitled to as of the Date of Termination but which remain unpaid as of the Date of Termination.
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COMPENSATION CONTINUATION. The Company will continue to pay Mr. Neville his current base salary through the Effective Date, at inxxxxxxx xx accordance with the Company's current pay practices. All amounts paid to Mr. Neville will be subject to withholding of federal and state incomx xxx xxxxxyment taxes, in accordance with United States and North Carolina laws. Unless otherwise determined by the Company, Mr. Neville will be entitled to no cash compensation from the Company xx xxxxxxxn to the sums provided in this section and in Section 6.
Sample 1
COMPENSATION CONTINUATION. From January 1, 2007 through April 28, 2008 (the “Continuation Period”), Executive shall receive Salary Continuation Payments, paid on the Company’s customary payroll pay dates. The “Salary Continuation Payments” shall be $46,875 per month for the first six (6) months of the Continuation Period, and $50,500 per month for the remainder of the Continuation Period, subject to applicable payroll deductions and withholdings. Of the foregoing payments, $46,875 per month payable for the first twelve (12) months in 2007 represents the severance benefit under the 2004 Employment Agreement that was not subject to Section 409A of the Code and was carried forward under the Employment Agreement (the “Grandfathered Benefit”). The balance of the foregoing payments represents the amount that is subject to Section 409A of the Code (the “Non-Grandfathered Benefit”) and does not commence until after the first six (6) months of the Continuation Period. Accordingly, the Grandfathered Benefit will be payable without delay following the effectiveness of this Amendment, while the Non-Grandfathered Benefit will be payable, at the earliest, commencing on the date that is six (6) months following the Termination Date.
Sample 1
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COMPENSATION CONTINUATION. In the event that (i) the Company terminates your employment without your consent for any reason other than Cause or Disability or(ii) you voluntarily resign your employment for Good Reason, the Company will continue to pay to you your Base Compensation and to vest your stock options until the end of the term of this Agreement, subject to subsection (g) below. The payments under this subsection (f) will cease in the event of your death. In order to receive your compensation continuation, you will be required to sign a release in a form acceptable to the Company, of any and all claims that you may have against the Company. In the event of the termination of this Agreement, with or without Cause, following a Change in Control prior to May 1, 2004, you will be entitled to receive, without regard to the provisions of subsection (g) below, payment in full of any remaining Base Compensation to May 1, 2004 and all of your unvested stock options described in Section 5 above shall immediately vest and become exercisable in full.
Sample 1
COMPENSATION CONTINUATION. Pursuant to Section 1 of the Employment Agreement, in full payment of his base salary for the period March 1, 2000 through and including February 28, 2001, Xx. Xxxxxxxx shall receive a lump sum payment of $947,200, which Xx. Xxxxxxxx acknowledges and agrees is equivalent to $975,000 payable over one year, discounted at the rate of 6% to reflect its payment in a lump sum.
Sample 1

Related to COMPENSATION CONTINUATION

  • Benefits Continuation (a) For leaves taken pursuant to Clauses 26.01, 26.02, and 26.07, the Employer shall maintain coverage for medical, extended health, dental, group life and long term disability, and shall pay the Employer's share of these premiums.

  • Salary Continuation If the Executive becomes totally disabled during the term of this Agreement, his full salary shall be continued for 360 days from the date of the disabling injury or onset of the disability illness.

  • Benefit Continuation You and your then eligible dependents shall continue to be covered by and participate in the group health and dental care plans (collectively, “Health Plans”) of the Company (at the Company’s cost) in which you participated, or were eligible to participate, immediately prior to the Date of Termination through the end of the Benefit Continuation Period; provided, however, that any medical or dental welfare benefit otherwise receivable by you hereunder shall be reduced to the extent that you become covered under a group health or dental care plan providing comparable medical and health benefits. You shall be eligible to participate in such Health Plans on terms that are at least as favorable as those in effect immediately prior to the Date of Termination. However, in the event that the terms of the Company’s Health Plans do not permit you to participate in those plans (other than pursuant to an election under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”)), in lieu of your and your eligible dependent’s coverage and participation under the Company’s Health Plans, the Company shall pay to you within fifteen (15) calendar days after the effective date of the Waiver and Release a lump sum equal to two (2) times your monthly COBRA premium amount for the number of months remaining in the Benefit Continuation Period. In addition, for the purposes of coverage under COBRA, your COBRA event date will be the date of loss of coverage described in this paragraph above.

  • Commencement and Continuation The Contractor shall commence the Project on the date the Contract was signed by the Department (as above) and, subject to Schedule Three, Clause 10.1 shall complete the Project on or before 31 August 2012. Contents Interpretations Schedule One Schedule Two Schedule Three Signatories page 37

  • Term and Continuation This Agreement shall take effect as of the date hereof, and shall remain in effect, unless sooner terminated as provided herein, until September 30, 2003, and shall continue thereafter on an annual basis with respect to each Series, provided that such continuance is specifically approved at least annually (a) by the vote of a majority of the Board, or (b) by vote of a majority of the outstanding voting securities of the Series, and provided continuance is also approved by the vote of a majority of the Board who are not parties to this Agreement or "interested persons" (as defined in the 1940 Act) of the Fund, cast in person at a meeting called for the xxxxxxx of voting on such approval. This Agreement may be terminated at any time, without the payment of any penalty with respect to the entire Fund or only with respect to one or more Series thereof: (a) by the Fund at any time with respect to the services provided by the Administrator by vote of (1) a majority of the Board members who are not "interested persons" (as such term is defined in the 1940 Act) of the Fund, or (2) a majority of the outstanding voting shares of the Fund or, with respect to a particular Series, by vote of a majority of the outstanding voting shares of such Series, on 60 days' written notice to the Administrator; and (b) by the Administrator on or after September 30, 2003, without the payment of any penalty, upon 60 days' written notice to the Fund.

  • Insurance Continuation The Board shall continue to pay the Board contribution necessary to continue all medical, dental, and life insurance plans for the employee while he/she is on leave under this article.

  • Conversion/Continuation (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrower shall have the option:

  • Continuation of Services The Contractor shall work with the current Subcontractor prior to cancellation date to ensure all consumer needs are identified and appropriate placements and transportation needs, as applicable, have been arranged. The Subcontractor shall maintain communication with the Contractor on the process of transferring consumers until all consumers are placed.

  • Compensation Benefits In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Reinstatement and Continuation of Agreement If any Senior Priority Agent or Senior Priority Creditor is required in any Insolvency Proceeding or otherwise to turn over or otherwise pay to the estate of any Credit Party or any other Person any payment made in satisfaction of all or any portion of the Senior Priority Obligations (a “Senior Priority Recovery”), then the Senior Priority Obligations shall be reinstated to the extent of such Senior Priority Recovery. If this Agreement shall have been terminated prior to such Senior Priority Recovery, this Agreement shall be reinstated in full force and effect in the event of such Senior Priority Recovery, and such prior termination shall not diminish, release, discharge, impair, or otherwise affect the obligations of the Parties from such date of reinstatement. All rights, interests, agreements, and obligations of each Agent, each Senior Priority Creditor, and each Junior Priority Creditor under this Agreement shall remain in full force and effect and shall continue irrespective of the commencement of, or any discharge, confirmation, conversion, or dismissal of, any Insolvency Proceeding by or against any Credit Party or any other circumstance which otherwise might constitute a defense available to, or a discharge of, any Credit Party in respect of the Senior Priority Obligations or the Junior Priority Obligations. No priority or right of any Senior Priority Secured Party shall at any time be prejudiced or impaired in any way by any act or failure to act on the part of any Borrower or any Guarantor or by the noncompliance by any Person with the terms, provisions, or covenants of any of the Senior Priority Documents, regardless of any knowledge thereof which any Senior Priority Secured Party may have.

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