The Payment. The Company will provide the Employee with a Severance Payment of $1,147,040.00, less applicable withholding for state and federal taxes (the “Payment”). The Payment will be made on the next available payroll date after the eighth calendar day following Employee’s execution of this Agreement.
The Payment. 4. The Levy payment(s) made hereunder will be recorded in the name of the member at the address set out on page 1 hereof upon receipt thereof by TSMC. Payments are to be made by cheque, certified cheque, bank draft or Interac in the amount(s) of the Levy set out in item 3 above, in Canadian funds, made payable to “Tyrol Ski and Mountain Club”, and sent to TSMC at its mailing address set out on page 1 hereto. Payments made by cheques that are not certified will not be deemed to have been received until such time as the cheque has cleared the TSMC banking account. The member acknowledges and agrees to be responsible for any NSF charges incurred by TSMC should the member’s uncertified cheque not clear TSMC banking account.
The Payment. Concurrently with delivery of executed copies of this Agreement and the release and consent by Raznick described in Section 2(b), KFR shall deliver to Joelson Rosenberg, PLC ("Joelson"), as escrow agent, the total sum of one hundred ten thousand dollars ($110,000.00), in good funds, to be held in escrow by Joelson pursuant to Section 20 of this Agreement. After the Effective Date of this Agreement, Joelson, as escrow agent, shall wire transfer the $110,000.00 to BICO, in accordance with the terms of Section 20 herein.
The Payment. The Company and Employee agree that Employee’s last day of employment by the Company shall be October 31, 2006 (the “Termination Date”). In consideration of Employee’s execution of this Agreement, the Company shall provide Employee fourteen (14) months (the “Severance Period”) base pay, less applicable withholding for state and federal taxes (the “Payment”). The Payment shall be made on the later of the Termination Date or the next available payroll date after the eighth calendar day following the Agreement Date, unless Employee has timely revoked this Agreement as provided in Section 3(c). If Employee consents to be rehired by the Company, any affiliate of the Company or any successor to all or any part of the Company’s business prior to the end of the Severance Period, Employee shall reimburse the Company for the balance of the Payment. For example, if Employee is rehired after eight (8) months, Employee must reimburse the Company for six (6) months of severance pay.
The Payment. The Company will provide the Employee with a payment in the amount of $648,667.00, consisting of fourteen (14) months’ pay at the Employee’s final base monthly salary (which fourteen (14) months are the “Severance Period”), less applicable withholding for state and federal taxes (the “Payment”). The Payment is made pursuant to and satisfies any obligation that may exist to pay severance under the Allergan, Inc. Severance Pay Plan (‘the “Plan”), and will be made in a single sum mailed to the Employee’s home address on the first regular payday after the Separation Date; provided that the Employee has not timely revoked this Agreement in accordance with Section 3(c).