Executive Payments Sample Clauses

Executive Payments. The Executive shall pay an amount of premium ------------------ equal to the amounts set forth in Schedule A calculated as the value ---------- of the economic benefit attributable to the life insurance protection provided to the Executive under the Agreement. The value of the economic benefit shall be calculated by using the lower of the P.S. 58 rates or the Insurer's lowest published yearly renewable term rate times the excess of the current death proceeds over the Company's total value of its share of the premium. The amount of premium will change as coverage changes. The Company shall remit that amount to the Insurer. The amount shall be paid by the Executive to the Company by payroll deductions of equal installments during the Policy Year or by a full reimbursement at the beginning of the Policy Year.
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Executive Payments. Parent shall pay or cause the Companies to pay all Executive Payments at or prior to the Closing.
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Executive Payments. The fees of Xxxxxx Xxxxxxxx for tax services to the Executive will be paid by the Company to the extent that those fees, together with any other payments made to the Executive under the discretionary Executive Payments Scheme by the Company for 1996, do not exceed US $10,000 (excluding VAT).
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Executive Payments. One-half of the total of all Executive Payments shall have been paid by SCC Bank prior to the Closing Date, and one-half of the total of all Executive Payments shall remain unpaid as of the Closing Date.
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Executive Payments. The Sellers shall cause any Executive Payments which are the obligation of the Companies or the Sellers to be paid by the Companies prior to Closing.
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Executive Payments. Section 5.11 of the Company Schedule sets forth (a) the percentage allocation to individual employees of Company of payments pursuant to the Bonus Plan (the "Bonus Payments"), (b) payments to be due all executives of Company in connection with the Merger or the termination of their employment at or prior to the Effective Time denoted as "Specified Payments" therein and (c) all other payments (the "Other Payments") to be due to all executives of Company in connection with the Merger or the termination of their employment at or prior to the Effective Time, other than payments for unreimbursed business expenses due and payable in the ordinary course of business of Company. Company will pay the Bonus Payments and the Other Payments in full immediately prior to the Effective Time. Parent will assume the obligation to pay the Specified Payments at the Effective Time and any amounts in excess thereof shall be deemed Other Payments.
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Executive Payments. Schedule 6.5 hereto lists all stock option rights, stock appreciation rights, phantom stock rights, equity-based bonus rights or similar rights outstanding with respect to Waldorf Entities (collectively, the "Executive Rights"). On or prior to the Closing Date, Frey Xxxreholders shall cause Waldorf Entities to make all payments and to take all other actions necessary to satisfy and to terminate in full all of the Executive Rights. To the extent that the total amount of such payments exceeds Seven Million Four Hundred Fifteen Thousand Five Hundred Twelve Dollars and Sixty-Two Cents ($7,415,512.62), Frey Xxxreholders agree, jointly and severally, to (i) reimburse Purchaser for such excess amount (the "Excess Amount"), and the cash payment otherwise payable to Shareholders pursuant to Section 1.2 hereof shall be reduced by the Excess Amount and (ii) indemnify Purchaser, in the manner prescribed in and subject to the requirements of Section 10 hereof, from, against and in respect of any liability, costs and expenses arising from (aa) any failure to so satisfy and terminate in full the Executive Rights, (bb) any claim based on securities law violations including, without limitation, violations in connection with the Executive Rights or (cc) any claim based on the redemption of stock by the Waldorf Entities including, without limitation, the January, 1995 redemption of common stock disclosed in Schedule 4.4 (excluding payment of the promissory notes identified in Item 4.4.1).
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Executive Payments. All Executive Payments which are the obligation of the Shareholders or the Company are listed on Exhibit 5.5. To the extent that any Executive Payments are not made at or Prior to Closing, the Purchase Price shall nonetheless be reduced by such unpaid Executive Payment Amounts at Closing and the Company shall make such payments at its next regularly scheduled payroll following the Closing; provided, however, that such Executive Payments shall be deemed to have accrued prior to the Closing for accounting purposes.
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Related to Executive Payments

  • Incentive Payments The Settlement Fund Administrator will treat incentive payments under Section IV.F on a State-specific basis. Incentive payments for which a Settling State is eligible under Section IV.F will be allocated fifteen percent (15%) to its State Fund, seventy percent (70%) to its Abatement Accounts Fund, and fifteen percent (15%) to its Subdivision Fund. Amounts may be reallocated and will be distributed as provided in Section V.D.

  • Severance Payments 6.1 If the Executive's employment is terminated following a Change in Control and during the Term, other than (A) by the Company for Cause, (B) by reason of death or Disability, or (C) by the Executive without Good Reason, then the Company shall pay the Executive the amounts, and provide the Executive the benefits, described in this Section 6.1 ("Severance Payments") and Section 6.2, in addition to any payments and benefits to which the Executive is entitled under Section 5 hereof; provided, however, that the Executive shall not be entitled to the Severance Payments unless and until the Executive (or, in the event of the Executive's death, the executor, personal representative or administrator of the Executive's estate) has signed a written waiver and release substantially in the form set forth on Exhibit A hereto. For purposes of this Agreement, the Executive's employment shall be deemed to have been terminated following a Change in Control by the Company without Cause or by the Executive with Good Reason, if (i) during the Term the Executive's employment is terminated by the Company without Cause following a Potential Change in Control but prior to a Change in Control (whether or not a Change in Control ever occurs) and such termination was at the request or direction of a Person who has entered into an agreement with the Company the consummation of which would constitute a Change in Control, (ii) during the Term the Executive terminates his employment for Good Reason following a Potential Change in Control but prior to a Change in Control (whether or not a Change in Control ever occurs) and the circumstance or event which constitutes Good Reason occurs at the request or direction of such Person or (iii) during the Term the Executive's employment is terminated by the Company without Cause or by the Executive for Good Reason and such termination or the circumstance or event which constitutes Good Reason is otherwise in connection with or in anticipation of a Change in Control (whether or not a Change in Control ever occurs). An Executive will not be considered to have been terminated by reason of the divestiture of a facility, sale or other disposition of a business or business unit, or the outsourcing of a business activity with which the Executive is affiliated, notwithstanding the fact that such divestiture, sale or outsourcing takes place within two years following a Change in Control, if the Executive is offered comparable employment by the successor company and such successor company agrees to assume the Company's obligations to the Executive under this Agreement.

  • Protective Payments If Borrower fails to obtain the insurance called for by Section 6.5 or fails to pay any premium thereon or fails to pay any other amount which Borrower is obligated to pay under this Agreement or any other Loan Document, Bank may obtain such insurance or make such payment, and all amounts so paid by Bank are Bank Expenses and immediately due and payable, bearing interest at the then highest rate applicable to the Obligations, and secured by the Collateral. Bank will make reasonable efforts to provide Borrower with notice of Bank obtaining such insurance at the time it is obtained or within a reasonable time thereafter. No payments by Bank are deemed an agreement to make similar payments in the future or Bank’s waiver of any Event of Default.

  • Compensation Other Than Severance Payments 5.1 Following a Change in Control and during the Term, during any period that the Executive fails to perform the Executive's full-time duties with the Company as a result of incapacity due to physical or mental illness, the Company shall pay the Executive's full salary to the Executive at the rate in effect at the commencement of any such period, together with all compensation and benefits payable to the Executive under the terms of any compensation or benefit plan, program or arrangement maintained by the Company during such period (other than any disability plan), until the Executive's employment is terminated by the Company for Disability.

  • Severance Payment Executive will be paid continuing payments of severance pay at a rate equal to Executive’s base salary rate, as then in effect, for twelve (12) months from the date of such termination of employment, to be paid periodically in accordance with the Company’s normal payroll policies.

  • Incentive Pay (1) For any calendar year in which twenty-five percent (25%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then:

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 55 to 59 100% 60 80% 61 60% 62 40% 63 20% 64 0%

  • Severance Pay 4.4.2(a) Severance pay - other than employees of a small employer An employee, other than an employee of a small employer, whose employment is terminated by reason of redundancy is entitled to the following amount of severance pay in respect of a period of continuous service: Period of continuous service Severance pay Less than 1 year Nil 1 year and less than 2 years 4 weeks’ pay* 2 years and less than 3 years 6 weeks’ pay 3 years and less than 4 years 7 weeks’ pay 4 years and less than 5 yeas 8 weeks’ pay 5 years and less than 6 years 10 weeks’ pay 6 years and less than 7 years 11 weeks’ pay 7 years and less than 8 years 13 weeks’ pay 8 years and less than 9 years 14 weeks’ pay 9 years and less than 10 years 16 weeks’ pay 10 years and over 12 weeks’ pay * Week’s pay is defined in 4.4.1.

  • Separation Payments Following Executive’s separation from service with Company on or after his Vesting Date (as defined in Section 7), Company shall pay to Executive the sum of THIRTY-SEVEN THOUSAND THREE HUNDRED SIXTEEN and 74/100 Dollars ($37,316.74) per month, beginning six months and one week after Executive’s date of separation for a period of ten (10) years, or until Executive’s death, whichever first occurs (the “Separation Payments”). Such payments shall be subject to any and all applicable withholding, Social Security, employment, income and other taxes or assessments, if any, under the applicable tax law. If Executive should die during the ten-year period during which payments are being made under this Paragraph 3, then those payments shall terminate and future payments, if any, shall be made to Executive’s designated beneficiary(ies) or Executive’s estate in accordance with the provisions of Paragraph 4 of this Agreement.

  • Severance Payments and Benefits For purposes of this Agreement, the term "Severance Payments and Benefits" shall mean:

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