Common use of Payment to Employee Clause in Contracts

Payment to Employee. The Company agrees to pay Employee the sum of $________ (the "Payment") as severance pay, less all applicable withholdings for state, federal and FICA taxes. The Payment shall be paid in [insert number of installments] equal installments of $_________ on each regular payroll date of the Company. Such installments shall commence on the first payroll date that follows the expiration of the seven-day revocation period set forth in paragraph G below.

Payment to Employee. The Company agrees to pay Employee the sum of $________ $ (the "“Payment"”) as severance pay, less all applicable withholdings for state, federal and FICA taxes. The Payment shall be paid in [insert number of installments] equal installments of $_________ $ on each regular payroll date of the Company. Such installments shall commence on the first payroll date that follows the expiration of the seven-day revocation period set forth in paragraph G Section F below.

Payment to Employee. The Company agrees to pay Employee the sum of $________ (the "“Payment"”) as severance pay, less all applicable withholdings for state, federal and FICA taxes. The Payment shall be paid in [insert number of installments] equal installments of $_________ on each regular payroll date of the Company. Such installments shall commence on the first payroll date that follows the expiration of the seven-day revocation period set forth in paragraph G below.