Fixed Compensation definition
Examples of Fixed Compensation in a sentence
In the event of the Executive’s death during the Term, the Company will pay to the Executive’s estate the Executive’s Fixed Compensation, together with all compensation and benefits payable to the Executive under the terms of the Company’s plans, programs, or arrangements in effect immediately prior to the date of the Executive’s death, through the date of the Executive’s death.
If the Company terminates the employment of the Executive for Cause, the Company shall pay or provide the Executive their (a) Fixed Compensation through the Termination Date; and (b) continuing health and welfare benefits through the Termination Date or other period following a Separation from Service, as specified by the applicable plan.
During the Term and during any period that the Executive fails to perform the Executive’s duties for the Company due to physical or mental illness, the Company will pay the Executive’s Fixed Compensation, together with all compensation and benefits payable to the Executive under the terms of the Company’s plans, programs, or arrangements as in effect during that period, until the Executive’s employment is terminated by the Company due to Disability.
The Fixed Compensation shall be payable on the next regular pay date following the Termination Date or earlier if required by applicable law.
Irrespective of the severance payments and benefits described in Sections 4-6, the Company shall pay or provide the Executive all Fixed Compensation and benefits earned but unpaid through the Termination Date or other period following a Separation from Service, as specified by the applicable plan, program, or arrangement.