Payments definition
Examples of Payments in a sentence
For Parachute Payments with the same Parachute Payment Ratio and the same time of payment, such Parachute Payments shall be reduced on a pro rata basis (but not below zero) prior to reducing Parachute Payments with a lower Parachute Payment Ratio.
Notwithstanding anything foregoing, I acknowledge and agree that nothing herein shall be construed to confer upon me any right to WA Noncompete Payments or severance payments and that the Company may, in its sole discretion, elect to not enforce the provisions of Section 6(a) of the Agreement following the termination of my employment due to a layoff.
For Parachute Payments with the same Parachute Payment Ratio, such Parachute Payments shall be reduced based on the time of payment of such Parachute Payments, with amounts having later payment dates being reduced first.
In the event of a material breach of Section 8.5 by the Executive following the Executive’s execution of the Release, the Company’s obligation to make any unpaid Severance Payments or Change in Control Severance Payments shall immediately cease.
Assuming timely delivery of the release by the Company, if the release is pursuant to and in accordance with this Section 4.5.1, and Executive fails to execute such release on or prior to the Release Expiration Date, Executive will not be entitled to Severance Payments or the Change in Control Severance Payment.