First Payroll Date definition
Examples of First Payroll Date in a sentence
Any payments that would have been made to (or on behalf of) Executive under Section 5.2 during the period between the date of termination of Executive’s employment with the Company and the First Payroll Date, but for the requirements of this Section 5.7, shall be paid to Executive in a lump sum on the First Payroll Date and, thereafter, the remaining portion of such benefits shall be paid over the remainder of the time period originally scheduled for such payments.
No payments (or reimbursements) that are subject to this Section 5.7 shall be made prior to the First Payroll Date.
Notwithstanding anything to the contrary in this Section 6, the payments due under Section 6(a)(i) shall be payable commencing on the Company’s first payroll date occurring on or after the 30th day following the Date of Termination (the “First Payroll Date”), and any amounts that would otherwise have been paid pursuant to such Section 6(a)(i) prior to the First Payroll Date shall be paid in a lump-sum on the First Payroll Date.
The Severance Payments shall commence on the Company’s first regular payroll date occurring on or after the sixtieth (60th) date following the date of termination (the “First Payroll Date”), with amounts otherwise payable under the Company’s normal payroll procedures prior to the First Payroll Date to be paid in lump sum on the First Payroll Date without interest thereon.
The Company may, in its sole discretion, pay for the Death or Disability Severance either in a single lump sum cash payment on the First Payroll Date or satisfy the Death or Disability Severance through the proceeds from one or more insurance policies, the premiums of which shall be paid by the Company.
The rights of the Owners to receive distributions from the proceeds of the Trust Estate and all ownership interests of the Owners in such distributions, shall be as set forth in this Agreement.
Notwithstanding anything to the contrary in Section 5, the payments due under Section 5 shall be payable commencing on the Company’s first payroll date occurring on or after the 60th day following the Date of Termination, or if later, such time as required by Sections 22 and 23 below (the “First Payroll Date”), and any amounts that would otherwise have been paid pursuant to such Section 5 prior to the First Payroll Date shall be paid in a lump-sum on the First Payroll Date.
If you are not nominated for re-election to the Board at the 2020 annual meeting for any reason, then as of the date of the 2020 annual meeting, provided your equity interests are still vesting at the time and vesting has not ceased pursuant to the terms of the following sentence, then all of your then-unvested time-based equity will be subject to acceleration as of the First Payroll Date (or the date of the 2020 annual meeting if later).
Monthly salary payments under Section I.G.2 shall be made on Company’s normal pay days beginning on the first regularly scheduled payroll date occurring on or after the 60th day following the employment termination date (the “First Payroll Date”), and any amounts that would otherwise have been paid prior to the First Payroll Date shall be paid on the First Payroll Date.
In the case of cause (ii) in this Section 5.2, the portion of the severance pay that would have been paid to the Executive during the period between the date of termination of Executive’s employment with the Company and the First Payroll Date shall be paid to the Executive in a lump sum on the First Payroll Date and, thereafter, the remaining portion of the severance pay shall be paid without delay over the time period originally scheduled in this Section 5.2.