COMPENSATION CONTINUATION Clause Samples

The Compensation Continuation clause ensures that an employee or contractor continues to receive their salary or agreed payments for a specified period under certain circumstances, such as during a leave of absence, after termination without cause, or while on disability. Typically, this clause outlines the duration of continued payments, any conditions that must be met (such as not engaging in competing work), and the types of compensation covered, which may include base salary, bonuses, or benefits. Its core function is to provide financial security to the individual during transitional periods, while also clarifying the employer’s obligations and reducing disputes over post-employment pay.
COMPENSATION CONTINUATION. Each of VLH, VLI and/or Showco, as the case may be, shall, for a period of 60 days after the date of the death of ▇▇▇▇▇▇, continue to pay to ▇▇▇▇▇▇'▇ estate cash compensation (including without limitation salary, bonus and consulting fees) in a monthly amount equal to one-twelfth of all cash compensation (including without limitation salary, bonus and consulting fees) paid or payable to ▇▇▇▇▇▇ on an annualized basis immediately preceding his death. Notwithstanding the foregoing, if the proceeds from any life insurance policy purchased by VLH, VLI and/or Showco, as the case may be, for the benefit of ▇▇▇▇▇▇ and in effect upon the date of his death have not been paid within 60 days after the date of his death, VLH, VLI and/or Showco, as the case may be, shall continue to make such compensation payments as herein provided until the date such life insurance proceeds are paid in full (provided that in no event shall such payments continue for more than one year after the date of his death). Any payments required under this Agreement shall be made in accordance with the general payroll practices of VLH, VLI and/or Showco, as the case may be, in effect at the time such payment is made, but in no event less frequently than monthly.
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COMPENSATION CONTINUATION. In the event that (i) the Company terminates your employment without your consent for any reason other than Cause or Disability or(ii) you voluntarily resign your employment for Good Reason, the Company will continue to pay to you your Base Compensation and to vest your stock options until the end of the term of this Agreement, subject to subsection (g) below. The payments under this subsection (f) will cease in the event of your death. In order to receive your compensation continuation, you will be required to sign a release in a form acceptable to the Company, of any and all claims that you may have against the Company. In the event of the termination of this Agreement, with or without Cause, following a Change in Control prior to May 1, 2004, you will be entitled to receive, without regard to the provisions of subsection (g) below, payment in full of any remaining Base Compensation to May 1, 2004 and all of your unvested stock options described in Section 5 above shall immediately vest and become exercisable in full.
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COMPENSATION CONTINUATION. From January 1, 2007 through April 28, 2008 (the “Continuation Period”), Executive shall receive Salary Continuation Payments, paid on the Company’s customary payroll pay dates. The “Salary Continuation Payments” shall be $46,875 per month for the first six (6) months of the Continuation Period, and $50,500 per month for the remainder of the Continuation Period, subject to applicable payroll deductions and withholdings. Of the foregoing payments, $46,875 per month payable for the first twelve (12) months in 2007 represents the severance benefit under the 2004 Employment Agreement that was not subject to Section 409A of the Code and was carried forward under the Employment Agreement (the “Grandfathered Benefit”). The balance of the foregoing payments represents the amount that is subject to Section 409A of the Code (the “Non-Grandfathered Benefit”) and does not commence until after the first six (6) months of the Continuation Period. Accordingly, the Grandfathered Benefit will be payable without delay following the effectiveness of this Amendment, while the Non-Grandfathered Benefit will be payable, at the earliest, commencing on the date that is six (6) months following the Termination Date.
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COMPENSATION CONTINUATION. After the termination of the Employment Period, on a semi-monthly basis in accordance with Angelica's normal and customary payroll practices, ▇▇▇▇▇▇▇▇ shall pay Hubble the "Monthly Continuation Compensation" (as defined in this Section 4.1(b) for each month (or partial month on a prorated basis) remaining in the Term of this Agreement after the termination of the Employment Period. ▇▇▇▇▇▇▇▇ may at any time elect to pay the balance of such payments then remaining in a lump sum, in which the total of such lump-sum payment is discounted to its present value on the basis of the applicable Federal short-term monthly rate for the month in which such lump-sum payment is to be made as determined in accordance with Section 1274(d) of the Internal Revenue Code of 1986, as amended. For purposes of this Agreement, "Monthly Continuation Compensation" shall mean the sum of Hubble's Annual Base Salary and Termination Year Maximum Bonus as of the last day of the Employment Period divided by 12.
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COMPENSATION CONTINUATION. The Employee is authorized to take up-to twenty (20) good faith sick days during the Term of this Agreement. The Corporation shall have the right to terminate this Agreement in the event the Employee is unable, because of any illness or physical incapacity, to perform the duties set forth herein for a period of time in excess of the allowable sick days and vacation days.
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COMPENSATION CONTINUATION. (i) The Employer shall pay the Executive all salary, incentive, vacation pay, and other benefits which the Executive has earned and is entitled to as of the Date of Termination but which remain unpaid as of the Date of Termination. (ii) The Employer shall pay the Executive within thirty (30) days following this Date of Termination a lump sum amount equal to the Executive's Total Cash Compensation multiplied by __________.
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COMPENSATION CONTINUATION. Pursuant to Section 1 of the Employment Agreement, in full payment of his base salary for the period March 1, 2000 through and including February 28, 2001, ▇▇. ▇▇▇▇▇▇▇▇ shall receive a lump sum payment of $947,200, which ▇▇. ▇▇▇▇▇▇▇▇ acknowledges and agrees is equivalent to $975,000 payable over one year, discounted at the rate of 6% to reflect its payment in a lump sum.
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COMPENSATION CONTINUATION. The Company will continue to pay Mr. Neville his current base salary through the Effective Date, at in▇▇▇▇▇▇▇ ▇▇ accordance with the Company's current pay practices. All amounts paid to Mr. Neville will be subject to withholding of federal and state incom▇ ▇▇▇ ▇▇▇▇▇yment taxes, in accordance with United States and North Carolina laws. Unless otherwise determined by the Company, Mr. Neville will be entitled to no cash compensation from the Company ▇▇ ▇▇▇▇▇▇▇n to the sums provided in this section and in Section 6.
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COMPENSATION CONTINUATION. The Company will continue to pay M▇. ▇▇▇▇▇▇▇▇▇ his current base salary through the Effective Date, at intervals in accordance with the Company's current pay practices. On January 5, 2000, the Company will pay M▇. ▇▇▇▇▇▇▇▇▇ a lump sum amount of Three Hundred Fifty-Nine Thousand Six Hundred Twenty-Five and No/100 Dollars ($359,625.00). All amounts paid to M▇. ▇▇▇▇▇▇▇▇▇ will be subject to withholding of federal and state income and employment taxes, in accordance with United States and Florida laws. Unless otherwise determined by the Company, M▇. ▇▇▇▇▇▇▇▇▇ will be entitled to no cash compensation from the Company in addition to the sums provided in this section.
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Related to COMPENSATION CONTINUATION

  • 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”).

  • Salary Continuation An employee who suffers a compensable workers’ compensation injury, including being assaulted by a student, and who is temporarily and totally disabled as a result of the injury may be eligible to receive compensation from the Bureau of Workers’ Compensation (BWC). This section does not affect or replace the employees’ need to file claims with the BWC for medical treatment.

  • Benefit Continuation (a) For leaves taken pursuant to Clause 21.1, 21.2 and 21.3 the Employer shall maintain coverage for medical, extended health, dental, group life and long-term disability, and shall pay the Employer’s share of these premiums. (b) Notwithstanding Clause 21.4(a) above, should an employee be deemed to have resigned in accordance with Clause 21.5 the Employer will recover monies paid pursuant to this clause.

  • Commencement and Continuation The Contractor shall commence the Project on the date the Contract was signed by the Department (as above) and, subject to Schedule Three, Clause 10.1 shall complete the Project on or before 1 June 2012. Interpretations Schedule One Schedule Two Schedule Three

  • Term and Continuation This Agreement shall take effect as of the date hereof, and shall remain in effect, unless sooner terminated as provided herein, until September 30, 2003, and shall continue thereafter on an annual basis with respect to each Series, provided that such continuance is specifically approved at least annually (a) by the vote of a majority of the Board, or (b) by vote of a majority of the outstanding voting securities of the Series, and provided continuance is also approved by the vote of a majority of the Board who are not parties to this Agreement or "interested persons" (as defined in the 1940 Act) of the Fund, cast in person at a meeting called for the ▇▇▇▇▇▇▇ of voting on such approval. This Agreement may be terminated at any time, without the payment of any penalty with respect to the entire Fund or only with respect to one or more Series thereof: (a) by the Fund at any time with respect to the services provided by the Administrator by vote of (1) a majority of the Board members who are not "interested persons" (as such term is defined in the 1940 Act) of the Fund, or (2) a majority of the outstanding voting shares of the Fund or, with respect to a particular Series, by vote of a majority of the outstanding voting shares of such Series, on 60 days' written notice to the Administrator; and (b) by the Administrator on or after September 30, 2003, without the payment of any penalty, upon 60 days' written notice to the Fund.