Lump Sum Amount definition
Examples of Lump Sum Amount in a sentence
A final payment shall be made to the CONSULTANT which when added to any payments previously made shall total the same percentage of the Lump Sum Amount as the work completed at the time of termination is to the total work required for the PROJECT.
Even if the CONSULTANT’S actual costs exceed the Lump Sum amount stated in this Section 5.3, the CONSULTANT shall complete the required deliverables and the CONSULTANT’S compensation shall not exceed the Lump Sum Amount.
Severance Payments under Section 5(c) of this Agreement shall be paid as therein set forth; provided, however, that to the extent that the total Lump Sum Amount to be paid under Section 5(c) to a Specified Employee exceeds the amount of Qualifying Severance Payments, then such excess shall be paid in a lump sum on the first day of the seventh month following the Date of Termination.
Subject to Section 5(h) and the Executive’s satisfaction of the conditions set forth in Section 11(a) below, the Lump Sum Amount and the Target Bonus Amount shall be paid to the Executive in a lump sum on the date which is sixty (60) days following the Date of Termination.
If an Affected Employee ceases employment with Contactor, the District shall have no obligation to make any payment attributable to that Affected Employee, at a reduction of $125 per day per Affected Employee (“Daily Rate”) to the Lump Sum Amount.