Continuation Pay Sample Clauses
The Continuation Pay clause establishes the conditions under which an employee or service member receives additional compensation for agreeing to extend their service or employment beyond an initial commitment period. Typically, this clause outlines eligibility requirements, the amount and timing of the payment, and any obligations the recipient must fulfill to receive or retain the pay, such as a minimum additional service period. Its core practical function is to incentivize retention by providing a financial reward for continued service, thereby helping organizations maintain experienced personnel and reduce turnover.
Continuation Pay. The driver shall be compensated continuation pay if the time between routes is less than twenty-five (25) minutes.
Continuation Pay. City shall pay City Attorney continuation pay of $5,000 each year, payable in equal monthly installments. City will make normal withholdings from that payment as required by law.
Continuation Pay. Buyer agrees to provide 13 weeks of continuation pay to Patricia Freeman if her employment with the Company is terminated for ▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇ompany or Patricia Freeman.
Continuation Pay. Beginning with the 2022-2023 Contract Year and ending no later than the 2024-2025 Contract Year, additional, annual compensation (basic salary) of Twenty Thousand Dollars ($20,000.00) per Contract Year shall be paid to Superintendent, less applicable withholdings, for his services performed for the School Corporation during the completed Contract Year (“Continuation Pay”). Subsequent to the termination of the Comprehensive Contract and/or Superintendent’s employment with the Corporation, Superintendent shall only be entitled to receive annual Continuation Pay for the Contract Year ending before such termination.
Continuation Pay. Upon satisfaction of the Separation Conditions, Company will provide continuation pay to the Executive in the amount equal to twelve (12) months the (“Continuation Pay Period”) of Executive’s current annual base salary equal to three hundred fifty thousand eight hundred ninety-two dollars and sixty-eight cents ($350,892.68). Continuation Pay shall be made in bi-weekly payments in accordance with the Company’s usual and customary salary payment schedule.
Continuation Pay. The Company agrees to pay severance in the form of (i) an amount equal to 50% of Employee’s base salary, at Employee’s regular monthly rate of compensation as of the Separation Date, 70% of such amount shall be payable in a lump sum on January 15, 2021 and 30% of such amount shall be paid in equal installments from the Separation Date through June 30, 2021 in accordance with the Company’s payroll practices, in each case, less all applicable deductions and withholdings required by law or authorized by Employee; and (ii) reimbursement to Employee for the cost of the Company’s portion of any continuation coverage for health insurance premiums under the Company’s group health plans elected by Employee pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) (i.e., the Company’s reimbursement will be at the same rate of the Company’s cost sharing as in effect from time to time for active employees of the Company), from the Separation Date through June 30, 2021.
Continuation Pay. Subject to the limitations of, and in ---------------- consideration of this agreement, you will receive payments of $10,576.92 bi-weekly through January 14, 2001. All future payments in consideration of this agreement will cease immediately upon your accepting employment of any kind with any company considered to be a competitor of CompuCom and will also cease if you become an owner or shareholder (more than 5%), director, lender or consultant to any entity considered to be a competitor of CompuCom. It is your responsibility to notify CompuCom when you obtain a new position. You further agree not to disparage or otherwise criticize CompuCom, its officers, directors, employees, shareholders, affiliates, agents or representatives.