Regular Compensation definition
Examples of Regular Compensation in a sentence
If the Executive makes an election pursuant to, and executes the waiver required under, this section 2.2, his Regular Compensation shall be increased as of the date of the Change of Control at an annual rate equal to the sum of the annual rates of deferred compensation in lieu of which benefits are provided the Executive under any ESBA the Accrual Term for which (as defined in the ESBA) includes the date of the Change of Control.
In the event this Agreement is in effect for only a portion of any particular month, the amount of Employee’s Regular Compensation for that month shall be prorated on the basis of the actual number of days during such month this Agreement was in effect.
In the event of any such termination for Cause by Corporation, Corporation shall only be obligated to continue to pay Employee the Regular Compensation due Employee under this Agreement up to Employee’s termination date.
In the event the City decides to terminate this contract for cause, the City shall not owe City Manager any compensation other that the Regular Compensation due him for all time worked through and including the date of termination and 100% of unused sick time and vacation time if not already used for the year of termination.
In the event of termination by Officer, Company shall be obligated to continue to pay Officer the Guaranteed Regular Compensation and Guaranteed Bonus due Officer under this Agreement up to the earlier of (i) the end of Officer’s notice period or (ii) the earlier termination date set by Company.