Salary Continuation definition

Salary Continuation means continuation of base salary, based on Executive’s annual base salary rate as of the date Executive’s Company Employment terminates (“Date of Termination”), payable for a period of twelve (12) months following the Date of Termination (“Salary Continuation Period”).

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Salary Continuation means payment by CNS of the Employee's base salary as of his termination date, payable to Employee on the same schedule and in the same amount as the payment of base salary prior to termination of his employment, until such time as the full Salary Continuation obligation shall be discharged, as provided in this paragraph 7. During the period when Salary Continuation is payable to Employee, CNS will also continue to provide to Employee all group medical, dental and life plan benefits provided to its other senior executives. Employee shall also receive any accrued unused Paid Time Off to which he is entitled. Receipt of Salary Continuation is subject to Employee's compliance with his obligations under paragraphs 9, 10, 11 and 12 of this Agreement and his execution of a standard release agreement which includes, in addition to release of claims against CNS and related releasees, an obligation not to speak negatively about or harm CNS, confidentiality with respect to the termination process, and cooperation with the transition of responsibilities. Payment of the employer portion of Employee's group medical, dental and life plan premiums under this paragraph and under paragraphs 6 and 8 herein shall cease as of the date on which Employee is covered under other such group plans if such coverage occurs prior to termination of any salary continuation periods set forth in said paragraphs.

Salary Continuation shall have the meaning set out in Section 8.a.

Examples of Salary Continuation in a sentence

Any such fees, salary, wages or compensation shall reduce the Salary Continuation payments in reverse chronological order, beginning with the Salary Continuation payment that would be the final Salary Continuation payment in the absence of such reduction.
Continuation of health, dental and vision coverage at the applicable active employee rate until the end of the pay period that includes the last day of the Salary Continuation Period, on the same terms as they were provided immediately prior to the Date of Termination, subject to the Company’s ability to continue to make these payments without incurring discrimination penalties under the Patient Protection and Affordable Care Act, Pub.
Subject to subsection (c), following the signing of the Release and Waiver in Accordance with Section 8 and expiration of the revocation period, Company shall pay Executive Salary Continuation in substantially equal installments on each regular salary payroll date for the Salary Continuation Period, except as otherwise provided in this Agreement.
Any such coverage provided during the Salary Continuation Period shall not run concurrently with the applicable continuation period in accordance with the provisions of the Consolidated Omnibus Budget Reconciliation Act (“COBRA”).
To the extent such Salary Continuation was paid in a calendar year prior to the calendar year in which such reimbursement is received by the Company, the reimbursement shall be in the gross amount of such Salary Continuation on a pre-tax-withholding basis.

More Definitions of Salary Continuation

Salary Continuation means the Salary that is paid over the Severance Continuation Period.

Salary Continuation means payments made to an employee pursuant to a plan that meets the criteria specified in Labor Code section 4650(g).

Salary Continuation means payments made by the Employer that represent wage or salary payments through the date of termination during which time the employee is not required to perform any services.

Salary Continuation means the sum of monthly base salary, based on Executive’s highest monthly base salary rate prior to the date Executive’s Company Employment terminates (“Date of Termination”) and one- twelfth of Executive’s Annual Bonus payable for a period of twelve (12) months following the Date of Termination (“Salary Continuation Period”), provided that, if the event giving rise to payment of Salary Continuation is a Change in Control Termination, such Salary Continuation Period shall be twenty-four (24) months.

Salary Continuation means that the Company shall continue to pay you your base salary at the rate in effect on the date of termination during the Salary Continuation Period. The first payment of Salary Continuation shall be paid within sixty (60) days after the date of termination and shall be made on the Company’s regular payroll dates; provided, however, that if the sixty (60) day period begins in one calendar year and ends in a second calendar year, the first payment of Salary Continuation shall be paid in the second calendar year. In the event you miss one or more regular payroll periods between the date of termination and the first Salary Continuation payment, the first Salary Continuation payment shall include a “catch up” payment of accrued but unpaid Salary Continuation payments.

Salary Continuation means continuation of base salary, based on Executive’s annual base salary rate as of the date Executive’s Company Employment terminates (“Date of Termination”), payable for a period of ( ) months following the Date of Termination (“Salary Continuation Period”).

Salary Continuation means the Company’s continued payment of your then-current base salary on normal paydays following termination of your employment with the Company, paid under such circumstances described in further detail in this letter agreement, less standard withholding and offset by all income earned from other employment during any period of time that you receive any Salary Continuation.