Separation Pay/Consideration. In consideration of the covenants and releases set forth herein, the Bank agrees to pay Employee the amount payable to him and the non-monetary consideration (if any) due him, pursuant to and in accordance with, Paragraphs 5.2, 5.3 or 5.4, as the case may be, of the Employment Agreement dated , 2007, by and between the Employer and Employee (the “Employment Agreement”), less all applicable state and federal deductions (in each case, the “Payment”), $2,000 of which shall be consideration for Employee’s release of ADEA claims as set forth in Section 5, below; provided that no such Payment shall be made until at least eight (8) days have past since Employee’s execution of this Agreement. The check representing the Payment shall be mailed to Employee at his/her home address at .
Separation Pay/Consideration. In consideration of the covenants and releases given herein, upon termination of Employee’s employment on the Termination Date, and subject to non-revocation of this Agreement as set forth in Section 4.c. and execution of the Affirmation (as defined below), Employee will become eligible to receive the following consideration:
Separation Pay/Consideration. In consideration of the covenants and releases set forth herein, the Bank agrees to pay Employee the amount payable to him and the non-monetary consideration (if any) due him contingent on Employee’s execution and performance of this Agreement, pursuant to and in accordance with the Employment Agreement dated , 2007, by and between the Bank and Employee (the “Employment Agreement”), less all applicable state and federal deductions (in each case, the “Payment”), $ of which shall be consideration for Employee’s release of Age Discrimination in Employment Act of 1967 (“ADEA”) claims as set forth in Section 3, below; provided that no such Payment shall be made until at least eight (8) days have past since Employee’s execution of this Agreement. The check representing the Payment shall be mailed to Employee at his home address at .
Separation Pay/Consideration. Employer and Executive hereby agree: (i) that this Agreement constitutes the new Exhibit A to the Employment Agreement (as defined below), superseding any prior version attached as Exhibit A to the Employment Agreement; and (ii) notwithstanding execution of this Agreement Executive shall continue to be employed under the terms of the Employment Agreement until the Effective Time of the Merger at which time Employer and Executive agree that the Employment Agreement shall terminate subject to the terms specified therein and this Agreement shall also become effective. In consideration of the covenants and releases set forth herein, the Bank agrees to pay Employee the amount payable to him and the non-monetary consideration (if any) due him, pursuant to and in accordance with, Paragraphs 5.2, 5.3 or 5.4, as the case may be, of the Employment Agreement dated , 200 , by and between the Employer and Employee (the “Employment Agreement”), less all applicable state and federal deductions (in each case, the “Severance Benefit”), $2,000 of which shall be consideration for Employee’s release of ADEA claims as set forth in Section 5, below; provided that no such Severance Benefit shall be made until at least eight (8) days have past since Employee’s execution of this Agreement. The check representing the Severance Benefit shall be mailed to Employee at his home address at . Notwithstanding anything contained herein to the contrary, if Employee qualifies as a “specified employee ,” as defined in Section 409A(a)(2)(B)(i) of the Internal Revenue Code, as amended, payment of the Severance Benefit shall be delayed for a period of six months from the date of termination of Employee’s employment and calculated in accordance with Section 5.3.4 of the Employment Agreement. Payment of the Severance Benefit hereunder shall be contingent upon the closing of the Merger as contemplated in the Merger Agreement.
Separation Pay/Consideration. In consideration of the covenants and releases given herein, eight (8) days after Employee’s execution of this Agreement, Employee will become eligible to receive the following consideration:
Separation Pay/Consideration. If Employee signs this Agreement within twenty-one (21) days of receipt and does not revoke it as set forth in Section 8, then in exchange for the promises contained in this Agreement, the Company agrees to pay Employee a separation amount equivalent to six (6) months of his current base salary, less applicable federal and state payroll tax deductions. The payment will be made in 12 equal monthly installments, with the first payment to be made no later no later than seven (7) business days after the Effective Date of this Agreement, as defined in Section 8, and will be subject to applicable tax withholdings provided Employee does not revoke this Agreement and provided he complies with his obligations under this Agreement.
Separation Pay/Consideration. In consideration of the covenants and releases set forth herein, the Bank agrees to pay Employee, on the eighth (8) day following Employee’s execution of this Agreement, a lump sum severance payment of Two Hundred Fifty-Five Thousand Dollars ($255,000.00), less all applicable state and federal deductions or withholdings (in each case, the “Payment”), $2,000 of which shall be consideration for Employee’s Release of ADEA Claims as set forth in Section 11 below. The check representing the Payment shall be personally delivered to Employee, or mailed to Employee at his home address at 000 Xxxxxx Xxxxx Xxxx, Xxx Xxx, XX 00000.
Separation Pay/Consideration. In consideration of the covenants and releases set forth herein, the Company agrees to pay Executive the amount payable to him and the non-monetary consideration (if any) due him, pursuant to and in accordance with, Section 8.a or 8.d, as the case may be, of the Employment Agreement dated January 1, 2018, by and between Executive and the Company (the “Employment Agreement”), less all applicable state and federal tax withholdings (in each case, the “Payment”), $2,000 of which shall be consideration for Executive’s release of ADEA claims as set forth in Section 4, below. A check representing the Payment, if applicable, shall be mailed to Executive at his last home address on file with the Company in accordance with the Employment Agreement.
Separation Pay/Consideration. In consideration of the covenants and releases set forth herein, the Bank agrees to pay Employee the amount payable to him and the non-monetary consideration (if any) due him, pursuant to and in accordance with, Paragraphs 5.2, 5.3 or 5.4, as the case may be, of the Employment Agreement dated December , 2005, by and between the Bank and Employee (the “Employment Agreement”), less all applicable state and federal deductions (in each case, the “Payment”), $2,000 of which shall be consideration for Employee’s release of ADEA claims as set forth in Section 5, below; provided that no such Payment shall be made until at least eight (8) days have past since Employee’s execution of this Agreement and further provided that the amount and timing of any such payment shall not violate Paragraph 5.12 of the Employment Agreement and Section 409A of the Internal Revenue Code of 1986. The check representing the Payment shall be mailed to Employee at his/her home address at ..
Separation Pay/Consideration. Promptly after the Effective Date of this Agreement, and after Company’s receipt of the letter described in Section 1, Mx. Xxxxxx will receive the following consideration:
