Additional Retention Payment Sample Clauses

Additional Retention Payment. You will receive an additional lump-sum payment in an amount equal to the product of $108,160 multiplied by a fraction, the numerator of which is the greater of (i) number of days during calendar year 2016 from January 1, 2016 through your Date of Termination; or (ii) two hundred and forty-four (244) days, and the denominator of which is 366. This lump-sum payment will be paid (1) on the 35th day following your Date of Termination by CommerceHub without Just Cause; (2) on the 35th day following the end of your Transition Period, if you remain employed through that date and do not extend your employment by mutual agreement with CommerceHub; or (3) on March 15, 2017 if you continue to be employed on such date (or if that day is not a business day, on the next succeeding business day).
Sample 1Sample 2
AutoNDA by SimpleDocs
Additional Retention Payment. Notwithstanding the foregoing, the Company retains the option of retaining the Executive, in its sole discretion, for an extended period beyond January 1, 2009 (the "Extended Retention Period"), in which case the Company will award the Executive a lump sum cash payment in addition to the cash payment to which the Executive would be entitled under Section 1. This "Additional Retention Payment" would be an amount that is equal to a percentage of her current annual base salary, with such percentage to be determined by the Company's CEO or the Compensation Committee based on the length of the Extended Retention Period and other factors, as they may determine, but such determination must be made prior to the end of the Retention Period. Except as provided in Section 5, should the Executive separate from service with the Company prior to the end of the Extended Retention Period, she will not be entitled to any Additional Retention Payment. This Additional Retention Payment will be made on or before the 30th day immediately following the last day of the Extended Retention Period, if that day is a business day, and if not, the first business day immediately following.
Sample 1

Related to Additional Retention Payment

  • Retention Payment 6.4.1 There are two situations in which an employee may be eligible to receive a retention payment. These are total facility closures and relocation of work units.

  • Separation Payment An ASF Member shall be compensated at the final rate of pay for all unused, accumulated vacation, leave time upon separation from state service, or movement to a vacation ineligible position. An employee on an unpaid leave of absence of more than one (1) year for a purpose other than accepting an unclassified position in state civil service, or an employee on layoff that results in separation from service, may elect to be compensated at the final rate of pay for unused accumulated vacation leave. This accumulated vacation payout shall not exceed two hundred and seventy-five (275) hours, except in the case of the ASF Member's death. Calculation of an ASF Member's hourly rate for purposes of computing vacation separation payment shall be based upon a base of two thousand eighty-eight (2,088) working hours per year. Appointment periods of less than one

  • Retention Payments Executive shall be eligible to earn each Retention Payment listed below, by: (a) being employed on the date listed next to the Retention Payment; (b) not being in a PIP Period (“PIP Period” is defined in Paragraph 4(a) below) on the date listed next to the Retention Payment; and (c) if Executive has resigned or been given notice of termination without Cause (“Cause” is defined in Paragraph 4(b) below) but remains employed during a notice period, assisting in an Orderly Transition of Duties (“Orderly Transition of Duties” is defined in Paragraph 4(c) below). Notwithstanding condition (b), Executive shall be eligible to earn any Retention Payments not earned because Executive was in a PIP Period (“Suspended Payments”) by remaining employed by InterMune, Inc. through the expiration of the PIP Period, at which time any Suspended Payments will be paid to the Executive. Retention Payments are in addition to Executive’s regular compensation package and are not to be considered “bonus” compensation. Date Retention Payment May Be Earned Amount May 31, 2007 $ 50,000 July 30, 2007 $ 50,000 October 30, 2007 $ 75,000 February 28, 2008 $ 75,000 June 30, 2008 $ 85,000 September 30, 2008 $ 100,000 January 1, 2009 $ 100,000 April 1, 2009 $ 40,000

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).

  • Termination Payments In the event of termination of the Executive’s employment during the Employment Period, all compensation and benefits set forth in this Agreement shall terminate except as specifically provided in this Section 8.

  • Cash Severance Payment Executive shall receive a lump sum payment in an amount equal to twelve (12) months of Executive's base salary (less applicable withholding), paid within five (5) business days after the conclusion of the transition period (or after the termination date if there is no transition period requested by the Company).

  • Lump Sum Severance Payment Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the Release required by Paragraph 4(g) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.

  • Separation Payments Following Executive’s separation from service with Company on or after his Vesting Date (as defined in Section 7), Company shall pay to Executive the sum of THIRTY-FOUR THOUSAND TWO HUNDRED SEVEN and 04/100 Dollars ($34,207.04) per month, beginning six months and one week after Executive’s date of separation for a period of ten (10) years, or until Executive’s death, whichever first occurs (the “Separation Payments”). Such payments shall be subject to any and all applicable withholding, Social Security, employment, income and other taxes or assessments, if any, under the applicable tax law. If Executive should die during the ten-year period during which payments are being made under this Paragraph 3, then those payments shall terminate and future payments, if any, shall be made to Executive’s designated beneficiary(ies) or Executive’s estate in accordance with the provisions of Paragraph 4 of this Agreement.

  • Severance Payment Executive will be paid continuing payments of severance pay at a rate equal to Executive’s base salary rate, as then in effect, for twelve (12) months from the date of such termination of employment, to be paid periodically in accordance with the Company’s normal payroll policies.

  • Termination Payments and Benefits Regardless of the circumstances of the Executive’s termination, Executive shall be entitled to payment when due of any earned and unpaid base salary, expense reimbursements and vacation days accrued prior to the termination of Executive’s employment, and other unpaid vested amounts or benefits under Company retirement and health benefit plans, and, as applicable, under Equity Agreements in accordance with their terms, and to no other compensation or benefits.

Time is Money Join Law Insider Premium to draft better contracts faster.