MONETARY AND OTHER CONSIDERATION Clause Samples
The 'Monetary and Other Consideration' clause defines the types and amounts of value exchanged between the parties under the agreement. It typically outlines the payment terms, such as the amount, timing, and method of payment, as well as any non-monetary benefits or obligations, like services, goods, or intellectual property rights provided in exchange. This clause ensures both parties clearly understand what is being given and received, thereby reducing the risk of disputes over compensation or performance.
MONETARY AND OTHER CONSIDERATION. In consideration for the releases and the other covenants in this Agreement, the Executive agrees and reaffirms that the only monetary and other consideration to which [he] [she] is entitled due to the termination of employment is that provided to the Executive pursuant to the CIC Severance Agreement, as set forth on Attachment A attached to this Agreement.
MONETARY AND OTHER CONSIDERATION. In consideration for the releases and the other covenants in this Agreement, the Officer agrees and reaffirms that the only monetary and other consideration to which [he] [she] is entitled due to the termination of employment is that provided to the Officer pursuant to the Separation Agreement, as set forth on Attachment A attached to this Agreement.
MONETARY AND OTHER CONSIDERATION. In consideration for the releases and the other covenants in this Agreement, Executive agrees and reaffirms that the only monetary and other consideration to which he is entitled due to the termination of employment is that provided to Executive pursuant to this Agreement.
(A) The parties hereto agree that ninety-five percent of the total amount of severance benefits received by Executive pursuant to this Agreement shall be consideration for the General Release and Discharge by Executive (see Section 5), and five percent of the total amount shall be consideration for the Release of Age Discrimination Claims by Executive (see Section 6).
MONETARY AND OTHER CONSIDERATION. (a) In return for the execution of this Agreement and Release, the Company agrees to: pay the Employee (i) a total of $278,650 in 24 equal semi monthly payments of $11,610.42; and (ii) 11,626.90 for accrued and unused vacation. Employee understands that the foregoing amounts are not being paid to him as an employee and will be paid without withholding. The Company shall furnish a Form 1099 for payments made pursuant to Section 2(a)(i). The amount of accrued and unused vacation will be paid to the Employee in a lump-sum on May 1, 2000.
(b) In addition to the monetary consideration described above, the Company agrees to:
(i) pay all medical, prescription, dental, and life insurance premiums for Employee coverage currently in effect through April 8, 2000;
MONETARY AND OTHER CONSIDERATION. In consideration for the releases and the other covenants in this Agreement, Officer agrees and reaffirms that the only monetary and other consideration to which he or she is entitled due to the termination of employment is that provided to Officer pursuant to the aforementioned Officer Severance Agreement. The parties hereto agree that ninety-five percent of the General Severance Benefits received by Officer pursuant to the aforementioned Officer Severance Agreement shall be consideration for the General Release and Discharge by Officer (see Section 4), and five percent of the total amount shall be consideration for the Release of Age Discrimination Claims by Employee (see Section 5).