Compensation Continuance Sample Clauses

Compensation Continuance. If the Executive's employment hereunder is involuntarily terminated as described in Section 3, he will be entitled to receive the cash compensation and benefits described in (a), (b) and (c) below (herein, "Compensation Continuance") for the period beginning with the date of such involuntary termination and ending with the earlier of (i) the third anniversary of the date of such termination, or (ii) the Normal Retirement Date of the Executive as defined in the Retirement Agreement (such period is referred to herein as the "Compensation Period"). The duration of the Compensation Period shall not be affected by the fact that the term of this Agreement otherwise would end before such Period expires. The cash compensation and benefits are as follows:
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Compensation Continuance. In addition to the compensation provided for in Section 9.1, upon the occurrence of a Compensation Continuance Termination Event, the Executive (or in the event of his subsequent death, his surviving spouse) shall be entitled to continue to receive his Base Salary (as increased each year in the manner provided in Section 5.1) during the Compensation Continuance Period.
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Compensation Continuance. In addition to the compensation provided for in Section 10.1, upon the occurrence of a Compensation Continuance Termination Event, the Executive shall be entitled to receive during the Compensation Continuance Period an annual benefit equal to his Final Average Compensation. If the Compensation Continuance Termination Event is the termination of the Executive’s employment by the Company as a result of the Executive’s Total Disability, the Executive’s Final Average Compensation shall be reduced by any amounts actually paid to the Executive during the Compensation Continuance Period under any Company sponsored long-term disability policy or any long-term disability policy on the life of the Executive for which the Company paid the premiums. The Executive’s Final Average Compensation shall be paid in accordance with the payroll schedule for salaried personnel of the Company. Notwithstanding the foregoing, the Executive’s Final Average Compensation payable during the first six months of the Compensation Continuance Period shall be paid to the Executive in a lump sum as of the first day of the seventh (7th) calendar month of the Compensation Continuance Period. Thereafter, all payments of Final Average Compensation shall be payable in accordance with the payroll schedule for salaried personnel of the Company.
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Compensation Continuance. In addition to the compensation provided for in Section 9.1, upon the occurrence of a Compensation Continuance Termination Event, the Executive shall be entitled to receive during the Compensation Continuance Period an annual benefit equal to his Final Average Compensation. The Executive’s Final Average Compensation shall be paid in accordance with the payroll schedule for salaried personnel of the Company. If the Compensation Continuance Termination Event is the termination of the Executive’s employment by the Company as a result of the Executive’s Total Disability, the Executive’s Final Average Compensation shall be reduced by any amounts actually paid to the Executive during the Compensation Continuance Period under any Company sponsored long-term disability policy or any long-term disability policy on the life of the Executive for which the Company paid the premiums.
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Compensation Continuance. In addition to the compensation provided for in Section 11.1, upon the termination of the Executive's employment by the Executive for Good Reason or by the Company in violation of the terms of this Agreement, the Executive (or in the event of his subsequent death, his designated beneficiary) shall receive 100% of the maximum bonus for which he was eligible in the year of termination and he shall continue to receive from the last day of the Termination Month through March 31, 2001 (the "Compensation Continuance Period") the Base Salary (as increased each year) that he would have received pursuant to Section 4.1 during the Compensation Continuance Period as if the Term had not expired. During the Compensation Continuance Period, the Executive shall continue to participate in all employee benefit plans or programs of the Company (as described in ARTICLE 9), except where doing so would violate ERISA.
Sample 1
Compensation Continuance. In addition to the compensation provided for in Section 12.1, upon the termination of the Executive's employment by the Company's exercise of the Notice Exception or by the Executive for Good Reason, the Executive (or in the event of his subsequent death, his designated beneficiary) shall be entitled to continue to receive during the remainder of the Term following the last day of the Termination Month (the "Compensation Continuance Period"), (i) the Base Salary (as increased each year to reflect increases in the cost of living) that he would have received pursuant to Section 4.1 during the Compensation Continuance Period if the Term had not expired, and (ii) the Awarded Bonus (if any) that he would have received pursuant to Section 4.2 during the Compensation Continuance Period if the Term had not expired. In the event of the Executive's death during the Compensation Continuance Period, such death shall not be deemed the expiration of the Term for purposes of determining the end of the Compensation Continuance Period, and the Executive's designated beneficiary (as determined pursuant to ARTICLE 16) shall be entitled to receive payments under this Section 12.2 during the remainder of the Compensation Continuance Period. During the Compensation Continuance Period, the Executive shall (i) subject to the provisions of ARTICLE 6, continue to participate in all employee benefit plans or programs of the Company (as described in ARTICLE 10), and (ii) be available at reasonable times to provide consulting services to the Company.
Sample 1
Compensation Continuance. If the Executive's employment hereunder is involuntarily terminated as described in Section 3, he will be entitled to receive the cash compensation and benefits described in (a) and (b) below (herein, "Compensation Continuance") for the period beginning with the date of such involuntary termination and ending with the expiration of the three year term of this Agreement (such period is referred to herein as the "Compensation Period"). The cash compensation and benefits are as follows:
Sample 1
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Compensation Continuance. If the Executive's employment hereunder is involuntarily terminated as described in Section 3, he will be entitled to receive the cash compensation and benefits described in (a), (b) and (c) below (herein, "Compensation Continuance") for the period beginning with the date of such involuntary termination and ending with the earlier of (i) the third anniversary of the date of such termination, or (ii) the Normal Retirement Date of the Executive as defined in the Retirement Agreement (such period is referred to herein as the "Compensation Period"). The duration of the Compensation Period shall not be affected by the fact that the term of this Agreement otherwise would end before such Period expires. Only with respect to the Cash Compensation described in (a), the Executive may elect to receive the value of the Cash Compensation in one lump sum rather than in installments payable throughout the Compensation Period. Unless the Executive elects otherwise in writing, the Cash Compensation shall be payable in a lump sum payment within fifteen days of his date of termination. The cash compensation and benefits are as follows: (a)
Sample 1
Compensation Continuance. In addition to the compensation provided for in Section 8.1, upon the termination of the Executive's employment by the Executive for Good Reason or by the Company other than For Cause, the Executive (or in the event of his subsequent death, his designated beneficiary) shall receive the bonus for which he was eligible in the year of termination, prorated for the portion of such year for which Executive was employed (such period to be deemed to end on the Termination Date) at the rate such bonus was earned but in no event less than 50% of the Executive's Base Salary for such period and he shall continue to receive (i) from the last day of the Termination Month through the end of the twelfth calendar month following the Termination Month (the "Compensation Continuance Period") the Base Salary that he would have received pursuant to Section 4.1 during the Compensation Continuance Period as if the Term had not expired and (ii) a bonus with respect to the Compensation Continuance Period paid at a rate of 50% of the Base Salary of the Executive during the Compensation Continuance Period to be paid at such times as bonus payments are normally paid to other executives of the Company.
Sample 1

Related to Compensation Continuance

  • Effective Date; Duration; Continuance (a) This Agreement shall become effective on October 1, 2022.

  • Payment of Continued Group Health Plan Benefits If you are eligible for and timely elect continued group health plan coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 or any state law of similar effect (“COBRA”) following your Involuntary Termination, the Company will pay your COBRA group health insurance premiums for you and your eligible dependents directly to the insurer until the earliest of (A) the end of the period immediately following your Involuntary Termination that is equal to the Severance Period (the “COBRA Payment Period”), (B) the expiration of your eligibility for continuation coverage under COBRA, or (C) the date when you become eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment. For purposes of this Section, references to COBRA premiums shall not include any amounts payable by you under a Section 125 health care reimbursement plan under the Code. Notwithstanding the foregoing, if at any time the Company determines, in its sole discretion, that it cannot pay the COBRA premiums without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), then regardless of whether you elect continued health coverage under COBRA, and in lieu of providing the COBRA premiums, the Company will instead pay you on the last day of each remaining month of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premiums for that month, subject to applicable tax withholdings (such amount, the “Special Severance Payment”), which payments shall continue until the earlier of expiration of the COBRA Payment Period or the date when you become eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment. On the first payroll date following the effectiveness of the Release, the Company will make the first payment to the insurer under this clause (and, in the case of the Special Severance Payment, such payment will be to you, in a lump sum) equal to the aggregate amount of payments that the Company would have paid through such date had such payments instead commenced on the date of your Involuntary Termination, with the balance of the payments paid thereafter on the schedule described above. If you become eligible for coverage under another employer’s group health plan, you must immediately notify the Company of such event, and all payments and obligations under this subsection shall cease.

  • Management Compensation As compensation for your services in the management of the offering, we will pay you an amount equal to the management fee specified in the Invitation in respect of the Securities to be purchased by us pursuant to the Purchase Agreement, and we authorize you to charge our account with such amount. If there is more than one Representative, such compensation shall be divided among the Representatives in such proportions as they may determine.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Compensation of the Executive 3 4. Termination..............................................................4 5.

  • Management Fees and Compensation No Credit Party shall, and no Credit Party shall permit any of its Subsidiaries to, pay any management, consulting or similar fees to any Affiliate of any Credit Party or to any officer, director or employee of any Credit Party or any Affiliate of any Credit Party except:

  • Benefits Continuation In addition, Executive shall be entitled to health and dental insurance benefits for a period of eighteen (18) months following the termination of this Agreement. These benefits will be provided at Employer’s expense, but such period shall count towards the Employer’s continuation of coverage obligation under Section 4980B of the Internal Revenue Code (commonly referred to as “COBRA”).

  • Payment of Compensation Subject to the provisions of this paragraph, payment of the Subadviser's compensation for the preceding month shall be made within 15 days after the end of the preceding month.

  • Salary Continuation If the Executive becomes totally disabled during the term of this Agreement, his full salary shall be continued for 360 days from the date of the disabling injury or onset of the disability illness.

  • Benefit Continuation You and your then eligible dependents shall continue to be covered by and participate in the group health and dental care plans (collectively, “Health Plans”) of the Company (at the Company’s cost) in which you participated, or were eligible to participate, immediately prior to the Date of Termination through the end of the Benefit Continuation Period; provided, however, that any medical or dental welfare benefit otherwise receivable by you hereunder shall be reduced to the extent that you become covered under a group health or dental care plan providing comparable medical and health benefits. You shall be eligible to participate in such Health Plans on terms that are at least as favorable as those in effect immediately prior to the Date of Termination. However, in the event that the terms of the Company’s Health Plans do not permit you to participate in those plans (other than pursuant to an election under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”)), in lieu of your and your eligible dependent’s coverage and participation under the Company’s Health Plans, the Company shall pay to you within fifteen (15) calendar days after the effective date of the Waiver and Release a lump sum equal to two (2) times your monthly COBRA premium amount for the number of months remaining in the Benefit Continuation Period. In addition, for the purposes of coverage under COBRA, your COBRA event date will be the date of loss of coverage described in this paragraph above.

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