Compensation and Other Payments. Xxxxxx Express agrees to pay Cendant Operations, in accordance with Section 1.9, an amount equal to the sum of the following items (collectively, the “Xxxxxx Express Payables“):
Compensation and Other Payments a. ANNUAL SALARY. Annual salary shall be set at $120,000.00 per annum payable in regular installments but in no event less often than monthly.
Compensation and Other Payments. Subject to Section 1.10, each Service Recipient Party to a Services Agreement agrees to pay the Service Provider Party to such Services Agreement (or, if the Service Provider so directs, to an Affiliate of the Service Provider) in accordance with Section 1.12, an amount equal to the sum of the following items (collectively, the “Service Recipient Payables”):
Compensation and Other Payments. (a) Subject to Section 1.10, and except as provided on Exhibit A or Exhibit B hereto, for any Services provided through March 31, 2008, the Service Recipient agrees to pay the Service Provider to such Services Agreement (or, if the Service Provider so directs, to a Subsidiary of the Service Provider) in accordance with Section 1.12, an amount equal to the sum of the following items:
Compensation and Other Payments. 5 4.1 SALARY..............................................................................................6 4.2 MAKE WHOLE PAYMENT..................................................................................6 4.3
Compensation and Other Payments. (a) Each Service Recipient under a Services Agreement agrees to pay the Service Provider under such Services Agreement (or, if the Service Provider so directs, to an Affiliate of the Service Provider) in accordance with Section 1.8, an amount equal to the amounts provided for in the relevant Services Agreement (the “Service Recipient Payables”).
Compensation and Other Payments. Provided you sign this Agreement and the Updated Release of Claims in the applicable time periods, return them to Valspar, and act in accordance with the terms outlined in this agreement, you will receive ongoing separation payments continuing at a rate equal to your base salary prior to the Effective Date, through December 31, 2010. You agree to remain available to the Company as reasonably requested by the Chairman & Chief Executive Officer, on an as-needed basis to assist with business such as mergers and acquisitions, strategy and business development, and disposition of the current corporate headquarters facility through December 31, 2010. Under this Agreement, your accountability will be to the Chairman & Chief Executive Officer. In addition to the payments above the following apply: • Stock Options You will not be eligible for any new stock option grants, however, at the Effective Date, you will be 100% vested in all stock options previously granted to you. Shares granted before October 2007 include a provision that extends the exercise period for up to three additional years, not to exceed the original expiration date. Stock options granted to Officers in October 2007 and after include provisions allowing them to be exercised for the balance of the original expiration term.
Compensation and Other Payments. During the Period of Employment, the Company shall pay the Executive a base salary equal to $20,833.33 per month (the “Base Salary”). The Base Salary shall be paid in accordance with the Company’s payroll policy.
Compensation and Other Payments. 1 4.1 Salary..............................................................................................1 4.2 Make Whole Payment..................................................................................2 4.3
Compensation and Other Payments. In compensation for these duties and in consideration for your signing this Agreement, Valspar will pay and provide the following: • Continue to pay your base salary, currently $950,000 annually, in equal installments at regular payroll intervals through the Retirement Date. • Pay the incentives that Valspar would otherwise pay you under the Key Employee Annual Bonus Plan for fiscal year 2011, including: o Earned annual cash bonus o Earned restricted award value, to be paid in cash in lieu of restricted stock and restricted stock units Actual payouts determined based on corporate performance measures (net income growth, net revenue growth and growth in pre-tax return on capital). Lump sum cash payments to be made no later than December 31, 2011. • Continue your active participation in Valspar employee benefit plans, policies, practices and programs through the Retirement Date for which you are eligible in accordance with their respective terms, at Valspar’s cost, subject to regular employee contributions required under the plans and programs you have elected. • Continue your participation in the Executive Physical program for calendar year 2011, and continue your participation in the Executive Financial Planning program (tax preparation and planning) through calendar year 2012, for the preparation of your 2011 tax return. • Pay you for all unused vacation in your last regular paycheck following your Retirement Date. The payments of compensation described above shall be subject to appropriate deductions and withholding.
