PAYMENT CONTINUATION Sample Clauses

PAYMENT CONTINUATION. If the Employee's engagement by the Company is terminated by the Company pursuant to clause (iii) of Section 8(a) or by Employee for Good Reason pursuant to clause (v) of Section 8(a), the Company shall continue to pay to the Employee Employee's base payment (less any payments received by the Employee from any disability income insurance policy provided to Employee by the Company) and shall continue to provide health insurance benefits for the Employee through the earlier of (a) the date that the Employee has obtained other full-time engagement, or (b) three (3) months from the date of termination of engagement. If this Agreement is terminated pursuant to clauses (i), (ii) or (iv) of Section 8(a), the Employee's right to base payment and benefits shall immediately terminate, except as may otherwise be required by applicable law.
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PAYMENT CONTINUATION. If the Consultant's engagement by the Company is terminated by the Company pursuant to clause (iii) of Section 8(a) or by Consultant for Good Reason pursuant to clause (v) of Section 8(a), the Company shall continue to pay to the Consultant Consultant's base payment (less any payments received by the Consultant from any disability income insurance policy provided to Consultant by the Company) and shall continue to provide health insurance benefits for the Consultant through the earlier of (a) the date that the Consultant has obtained other full-time engagement, or (b) three (3) months from the date of termination of engagement. If this Agreement is terminated pursuant to clauses (i), (ii) or (iv) of Section 8(a), the Consultant's right to base payment and benefits shall immediately terminate, except as may otherwise be required by applicable law.
PAYMENT CONTINUATION. If Xxxxx’x engagement by the Company is terminated by the Company pursuant to clause (iii) of Section 8(a) or by Xxxxx for Good Reason pursuant to clause (v) of Section 8(a), or by a change in control pursuant to clause (vi) of Section 8(a), the Company shall continue to pay to Xxxxx his Base Salary (less any payments received by Xxxxx from any disability income insurance policy provided to Xxxxx) plus the pro-rata portion of the Earnings Bonus calculated through the date of termination through the earlier of (a) the date that Xxxxx has obtained other professional engagement with a total compensation package (i.e. Salary plus benefits) equivalent to at least 80% of his total compensation under the terms of this agreement as of the date of termination, or (b) twelve (12) months from the date of termination of engagement. Any payment made pursuant to this section shall be payable over the 12 month period following termination pursuant to the normal semi-monthly pay cycle and not as a lump sum. Notwithstanding the foregoing, in the event that Xxxxx obtains employment pursuant to clause (a) of this Section (e), the Company will continue to pay Xxxxx the amount of any deficiency in total compensation from the new employment date through the end of the 12-month period following termination. If this Agreement is terminated pursuant to clauses (i), (ii) or (iv) of Section 8(a), Xxxxx’x right to Base salary and benefits shall immediately terminate, except as may otherwise be required by applicable law. Xxxxx Employment Agreement October 2004
PAYMENT CONTINUATION. Modine agrees that the obligation regarding these severance benefits is partial consideration for Xx. Xxxxxxxxxx’x agreement to stay with Modine and complete the Project. As such, Modine agrees that the severance benefits once earned by Xx. Xxxxxxxxxx will continue to be paid even in the event of Xx. Xxxxxxxxxx’x death. 7.
PAYMENT CONTINUATION. If the Contractor's engagement by the Company is terminated by the Company pursuant to clause (iii) of Section 8(a) or by Contractor for Good Reason pursuant to clause (v) of Section 8(a), the Company shall continue to pay to the Contractor Contractor's base payment (less any payments received by the Contractor from any disability income insurance policy provided to Contractor by the Company) and shall continue to provide health insurance benefits for the Contractor through the earlier of (a) the date that the Contractor has obtained other full-time engagement, or (b) three (3) months from the date of termination of engagement. If this Agreement is terminated pursuant to clauses (i), (ii) or (iv) of Section 8(a), the Contractor's right to base payment and benefits shall immediately terminate, except as may otherwise be required by applicable law.
PAYMENT CONTINUATION. If the Executive’s engagement with the Company is terminated by the Company pursuant to clause (iii) of Section 8(a) of this Agreement or by the Executive pursuant to clause (v) of Section 8(a) of this Agreement, then the Company shall continue to pay to the Executive’s Annual Salary payments and shall continue to provide medical benefits comparable to those the Executive participated in during his engagement with the Company for the Executive and his eligible dependents for a period of one year from the date of such termination. If the Executive’s engagement is terminated pursuant to clauses (i), (ii) or (iv) of Section 8(a) of this Agreement, the Executive’s right to Annual Salary payments and benefits shall immediately terminate, except as may otherwise be required by applicable law.
PAYMENT CONTINUATION. If the Employee's engagement by the Company is terminated by the Company pursuant to clause (iii) of Section 8(a) or by the Employee for Good Reason pursuant to clause (v) of Section 8(a), the Company shall continue to pay to the Employee the Employee's Annual Salary payments (less any payments received by the Employee from any disability income insurance policy provided to The Employee by The Company) and shall continue to provide health insurance benefits for the Employee through the earlier of (a) the date that the Employee has obtained other equivalent full-time engagement, or (b) the expiration of this agreement. Future option grants under this agreement will cease and the all options granted to date will immediately vest. If this Agreement is terminated pursuant to clauses (i), (ii) or (iv) of Section 8(a), the Employee's right to base payment and benefits shall immediately terminate, except as may otherwise be required by applicable law and all unvested options shall be cancelled.
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PAYMENT CONTINUATION. If the Employee's engagement by the Company is terminated by the Company pursuant to clause (iii) of Section 8(a) or by Employee for Good Reason pursuant to clause (v) of Section 8(a), the Company shall continue to pay to the Employee Employee's base payment (less any payments received by the Employee from any disability income insurance policy provided to Employee by the Company) and shall continue to provide health insurance benefits for the Employee through the earlier of (a) the date that the Employee has obtained other equivalent full-time engagement, or (b) the expiration of this agreement. Future option grants under this agreement will cease and the all options granted to date will immediately vest. If this Agreement is terminated pursuant to clauses (i), (ii) or (iv) of Section 8(a), the Employee's right to base payment and benefits shall immediately terminate, except as may otherwise be required by applicable law and all unvested options shall be cancelled.
PAYMENT CONTINUATION. If the Executive’s engagement with the Company is terminated by the Company pursuant to clause (iii) of Section 8(a) of this Agreement or by the Executive pursuant to clause (v) of Section 8(a) of this Agreement, then the Company shall continue to pay to the Executive’s Annual Salary payments and shall continue to provide medical benefits comparable to those the Executive participated in during his engagement with the Company for the Executive and his eligible dependents for a period of one year from the date of termination, plus (i) the EBITDA Bonus calculated on the Company’s EBITDA as of the month immediately prior to the date of termination and (ii) the Market Cap Bonus Shares calculated by dividing (x) 7% of the increase, if any, of the Market Capitalization as of the fiscal year end prior to the date of termination compared to the 20 trading days immediately preceding the date of termination by (y) the closing price for the trading day immediately preceding the date of termination. Such share shall be issued as of the date of termination. If the Executive’s engagement is terminated pursuant to clauses (i), (ii) or (iv) of Section 8(a) of this Agreement, the Executive’s right to Annual Salary payments and benefits shall immediately terminate, except as may otherwise be required by applicable law.

Related to PAYMENT CONTINUATION

  • 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.

  • 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.

  • Formation and Continuation (a) The Company was formed upon the issuance by the Secretary of State of the Certificate for the Company. This Agreement shall be effective at the time of such filing. Xxxxxxxx X. Xxxxxx is hereby designated as an authorized person, within the meaning of the Act, to execute, deliver and file such certificate of formation, and any action taken prior to the execution of this Agreement in connection therewith by any such person is hereby ratified and confirmed. In addition, Xxxxxx Xxx is designated as an authorized person within the meaning of the Act. The Management Directors may designate any person to be an authorized person, within the meaning of the Act.

  • 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.

  • 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

  • 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.

  • 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:

  • 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.

  • TERM, CONTINUATION AND RENEGOTIATION In this Collective Agreement, "Previous Collective Agreement" means the Collective Agreement that was in effect between the two parties for the period July 1, 2011 to June 30, 2013 including any amendments agreed to by the parties during that period.

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