Cash Separation Payments Sample Clauses

Cash Separation Payments. Upon a termination of Executive's employment under circumstances described in Section 4(a), the Executive shall receive the following amounts in cash: - Executive's full base salary through the Date of Employment Termination, at the rate in effect ten (10) days prior to the Date of Employment Termination; plus - the product of (A) an amount equal to Executive's full base salary earned from the beginning of the calendar year in which Date of Employment Termination occurs through the Date of Employment Termination, and (B) the greater of (i) 20% and (ii) the percentage equal to the highest percentage of base salary paid to the Executive as an annual bonus for any of the three calendar years preceding the calendar year in which the Executive's termination of employment occurs (the "Prior Bonus Percentage"), reduced by any installment of cash bonus previously paid by the Company to Executive for said calendar year; plus - the full amount, if any, of any incentive or special award which Executive earned but which has not yet been paid; plus - three times the sum of (A) Executive's annual base salary, at the highest rate in effect at any time up to Date of Employment Termination, and (B) an amount equal to the product of (i) the annual base salary referred to in subclause (A) and (ii) the greater of (1) 20% and (2) the Prior Bonus Percentage; provided, however, that two-thirds of such amount (the "Forfeitable Amount") shall be subject to recapture by the Company in the event that a court of competent jurisdiction finds that the Executive breached any of the covenants contained in Section 7 in any material way; plus - an amount which, as of the Date of Employment Termination, is equal to the present value (calculated at a discount rate of 7% per annum) of (x) the lump sum value of the Retirement Pension to which Executive would have been entitled if the four (4) years after the Date of Employment Termination were added to his Credited Service under the EDO Corporation Employees Pension Plan, reduced by (y) the lump sum value of the Retirement Pension to which Executive will be entitled under the terms of such plan based upon termination of employment as of the Date of Employment Termination and assuming commencement of payment of Executive's pension benefits at age 65. The lump sum value of Executive's Retirement Pension shall be determined as of Executive's retirement at age 65, using the same methods and assumptions used at the Date of Employment Termination fo...
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Cash Separation Payments. The following payments will be made within thirty (30) days after you sign and timely return the Separation & General Release of Claims Agreement to the Company, provided you do not revoke your acceptance (if you have that right) in a timely manner. Severance Amount $375,000 Medical, Dental and Vision Amount $13,130.04 Life Insurance Replacement Amount $3,900 2011 Bonus Amount (for non-sales employees only) $93,493.15, which equals 100% of your annual target bonus, pro-rated based on the number of days that you were actively employed by Verisign in 2011. Any leave of absence days taken in 2011 will not be considered active employment and will not be factored in when calculating that year’s bonus Vesting has been accelerated subject to exercise restrictions with respect to 25% of your “In-the-Money Options”, if any, that were scheduled to vest after your Scheduled Termination Date specified in your Termination Notice. “In-the-Money Options” are those options that have a per share exercise price less than the closing price of Verisign, Inc. common stock, as quoted on the Nasdaq Global Market, on the date of your Termination Notice. Accelerated vesting has been applied to the eligible unvested “In-the-Money Options” having the lowest exercise price first. The attached Equity Summary Statement reflects the Options that the Company will release for exercise within your E*Trade account, if any, subject to applicable post-employment exercise period limitations, as soon as administratively practicable (but in no event later than 30 days) after you sign and timely return the Separation & General Release of Claims Agreement to the Company and such Agreement becomes effective. All of such Options (together with any previously exercisable Options shown in your E*Trade account) will remain subject to the Verisign Stock Retention Policy for Verisign Board of Directors and Section 16 Officers (“the Verisign Stock Retention Policy”) as discussed below.
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Cash Separation Payments. The following payments will be made within thirty (30) days after you sign and timely return the Separation & General Release of Claims Agreement to the Company, provided you do not revoke your acceptance (if you have that right) in a timely manner. Severance Amount $375,000 Medical Insurance Replacement Amount $20,292.72 Life Insurance Replacement Amount $1,757.40 2011 Bonus Amount (for non-sales employees only) $73,356.16, which equals 100% of your annual target bonus, pro-rated based on the number of days that you were actively employed by Verisign in 2011. Any leave of absence days taken in 2011 will not be considered active employment and will not be factored in when calculating that year’s bonus.
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Cash Separation Payments. Riverview shall pay to Executive the gross amount of $1,767,125 (less legally required tax withholdings) as follows: (1) $441,781.25 to be paid on the Bank’s next regular pay date following the 1st day of the seventh month after the Date Separation Agreement and Release of Resignation; and (2) 18 monthly installment payments of $73,630.21, paid on the Bank’s first regular payroll date of each month immediately thereafter (the “Separation Pay”). In addition, Riverview shall transfer ownership to Executive of the company automobile provided for Executive’s use as of his Date of Resignation, free and clear of all liens, at no cost to Executive, which shall include no cost incurred by Executive for any transfer taxes or fees associated with the transferring of the ownership of such company automobile.
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Cash Separation Payments. Upon your timely execution of this Agreement and in exchange for your full compliance with this Agreement and provided that you have met, and continue to meet, all of your obligations, agreements, and undertakings set forth herein, the Company agrees to pay you the gross amount of $7,500,000.00 (“Separation Pay”), less legally required withholdings, as follows: (i) $1,000,000.00 to be paid on the Employers’ next regular pay date following the expiration of the revocation period explained in Paragraph 14 of this Agreement without revocation, (ii) $3,500,000.00 shall be paid six (6) months from the execution of the Agreement, (iii) $1,500,000.00 shall be paid twelve (12) months from the execution of the Agreement, and (iv) $1,500,000.00 shall be paid eighteen (18) months from the execution of the Agreement. The total Separation Pay shall be paid within eighteen (18) months from the execution of the Agreement.
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Related to Cash Separation Payments

  • 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.

  • 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 (1) year in duration shall be prorated on this basis. Except as provided in Article 16, Section C, Subdivision 4 which pertains to the separation payment to retirees, the separation payment will be made in cash.

  • Termination Payments (a) In the event that the Employment Term is terminated for any reason other than by the Company without Cause or by the Employee with Good Reason: (A) the Company shall pay to the Employee any Base Salary accrued hereunder on or prior to the date of termination but not theretofore paid to the Employee; and (B) the Employee shall be entitled, in accordance with the terms and conditions of the applicable plan, program or arrangement, to all benefits accrued under any benefit plans, programs or arrangements in which the Employee shall be a participant as of the date of termination, including any Bonus earned, declared and payable (but not yet paid) in accordance with Section 3(b) hereof in respect of the then current fiscal year, or if the Bonus in respect of the then current fiscal year has not yet been earned, declared and become payable, in respect of the fiscal year ended immediately prior to the date of termination (the "Accrued Benefits"). Notwithstanding the foregoing, the Bonus amount in respect of fiscal year 2000 under Section 3(b) shall be deemed earned, declared and payable. (b) Subject to paragraph (c) of this Section 11 below, in the event that the Employment Term is terminated by the Company without Cause or by the Employee for Good Reason: (A) the Company shall pay to the Employee any Base Salary accrued hereunder on or prior to the date of termination but not theretofore paid to the Employee; (B) the Company shall pay the Employee a lump sum amount equal to two (2) times the Employee's annual Base Salary at the time of the Employee's termination of employment; (C) the Company shall pay the Employee an amount equal to two (2) times the Bonus paid (or to be paid) to the Employee for the then current fiscal year, or if the Bonus in respect of the then current fiscal year has not yet been earned, declared and become payable, in respect of the fiscal year preceding the fiscal year in which such termination occurs; and

  • Retention Payment Payment of the Retention amount will be made in accordance with Public Contract Code Section 7107. If the Retention Payment is made before D-BE has complied with all of its obligations under the Contract, then payment of Retention shall not be interpreted as Final Payment and shall not relieve D-BE of its obligations under the Final Payment provisions.

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