Salary Continuation Benefits. The Company will pay, so long as the Employee's Employment Agreement, as amended, is in full force and effect on the date of his death, a monthly salary continuation amount to the Employee's estate or his designee, for twelve months beginning on the date of his death. The annual salary continuation amount will equal the Employee's base salary at his date of death plus an average of the bonuses paid to the Employee by the Company for the three calendar years preceding the year of his death."
Salary Continuation Benefits. If the Employee dies during the period of his employment as an officer of the Company, then the Company shall pay to the Employee’s Beneficiary the following:
Salary Continuation Benefits. (i) A Participant’s salary continuation benefits will be equal to a pro-rata portion of the Participant’s Base Salary paid over the applicable Severance Period.
Salary Continuation Benefits. Your cash Severance Benefits will be paid in the form of salary continuation, at the time and the manner provided in Section 4.3(a) of the Plan. The Severance Period used to determine the amount and duration of your salary continuation benefits will be twelve (12) months. Your salary continuation benefits will be determined based on your Base Salary, as provided in Section 4.3(a) of the Plan.
Salary Continuation Benefits. A Participant’s salary continuation benefits will be equal to a pro-rata portion of the Participant’s Base Salary paid over the applicable Benefit Period. Subject to Section 7.2(b) below (relating to certain payment subject to Section 409A of the Code) and except as otherwise provided in the Participant’s Notice of Eligibility, salary continuation benefits will be paid for the duration of the Benefit Period in substantially-equal semi-monthly installments in accordance with the Company’s standard payroll procedures, commencing on the second payroll date following the date on which the Participant’s Release becomes effective and irrevocable. Notwithstanding the foregoing, any remaining salary continuation benefits that are outstanding at the time of a Participant’s death will be paid to his or her designated Beneficiary in a single lump-sum payment within sixty (60) days following the delivery of satisfactory evidence of the Participant’s death to the Plan Administrator.
Salary Continuation Benefits. Your cash Retention Benefits will be paid in the form of salary continuation, at the time and the manner provided in Section 4.3(a) of the Plan. The Benefit Period used to determine the amount and duration of your salary continuation benefits will be six (6) months. Your salary continuation benefits will be determined based on your Base Salary, as provided in Section 4.3(a) of the Plan.
Salary Continuation Benefits. The Company will pay, so long as the Employee's Employment Agreement, as amended, is in full force and effect on the date of his death, a monthly salary continuation amount to the Employee's estate or his designee, for twelve months beginning on the date of his death. The annual salary continuation amount will equal the Employee's base salary at his date of death plus the average of all Pre-Tax Profits Bonus and Sales Bonus payments that would have been paid to Employee for the three calendar years preceding the year of his death as calculated under Section 3 of this Agreement as amended by Amendment No. 2 to this Agreement."
Salary Continuation Benefits. As soon as is administratively practical after the Date of Resignation or, if applicable, the end of the revocation period provided in this Agreement, whichever is later, Executive will begin receiving fifty-two (52) weeks of Executive’s weekly base pay (such number of weeks shall hereinafter be referred to as the “Salary Continuation Period”), minus any applicable deductions or withholdings or other reductions provided by this Agreement or law, which will be payable in a manner and on days that correspond to the Company’s regular paydays and payroll practices. Executive expressly authorizes the Company to make any necessary deductions, withholdings, or other reductions from the Salary Continuation Benefits. This Agreement and any and all obligations contained herein are subject to and conditioned upon Executive remaining an employee in good standing through Executive’s Date of Resignation. If Executive begins employment with a competing business as defined in Paragraph 8 of this Agreement during the period in which Executive is receiving Salary Continuation Benefits or the period in which the non-competition provision is in effect, whichever is longer, Executive will cease receiving Salary Continuation Benefits, and Executive will be required to repay any Salary Continuation Benefits paid previous to the respective hire date.
Salary Continuation Benefits. The Company will pay, so long as this Agreement is in full force and effect on the date of Employee's death, the remainder, if any, of the salary compensation payable under Paragraph 3 of this Agreement to Employee's estate or his designee.
Salary Continuation Benefits. If Employer terminates Executive’s employment without cause (as defined in Section 3.5 of this Agreement) at any time before the Normal Retirement Date (as defined in Section 3.1 of this Agreement), Employer will pay Executive an annual benefit (pro-rated for any fraction of a calendar year) equal to a portion of Executive’s Basic Salary (as defined in Section 2.1 of the Employment Agreement) for the immediately prior calendar year as reflected on Executive’s W-2 Federal Income Tax Statement from Employer, payable monthly until Executive reaches the Normal Retirement Date, which annual portion (herein called the “Salary Continuation Benefits”) shall be no less than fifty percent (50%) of the Basic Salary and no more than eighty percent (80%) of the Basic Salary as determined by Employer’s Board of Directors in its sole discretion but based upon Executive’s job performance prior to such employment termination; provided, however, that any such Salary Continuation Benefits shall be reduced by: (i) any income earned by Executive from any other source for services rendered by Executive prior to the Normal Retirement Date and after Executive’s employment termination, except that Executive may earn income from sources that are non-competitive to Employer and non-executive in status, without any reduction in Salary Continuation Benefits, as for example employment with a bed and breakfast, bait shop or other small entrepreneurial endeavor; and (ii) any Supplemental Retirement Benefits paid to Executive under this Agreement prior to the Normal Retirement Date, and (iii) all payments to Executive under Section 1.2 of this Agreement.
